Tag Archives: FINRA

Mortgage Capital Trading Announces Complimentary Webinar Addressing Changes to FINRA’s Market to Market Rule

SAN DIEGO, Calif. /ScoopCloud/ -- Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that it will be holding a complimentary educational webinar discussing many important changes to the Financial Industry Regulatory Authority (FINRA) Mark to Market Rule. The webinar, hosted by the Community Mortgage Lenders of America (CMLA), will guide lenders through all of the mandated rule changes in advance of the required implementation date of June 25, 2018. Lenders will leave the webinar with a good understanding of the rule details, how it will affect their businesses, and how to prepare for it.

According to FINRA Regulatory Notice 16-31, amendments to Rule 4210 will change margin requirements for Covered Agency Transactions, including the TBA transactions central to MCT pipeline hedging strategies. FINRA members will be required to collect daily MTM margin from all counterparties on these transactions. However, the margin is not required to be collected or charged to net capital if the aggregate required but uncollected MTM loss does not exceed $250,000.

Topic: What the FINRA Mark to Market Rule Means for You
Speaker: Phil Rasori, Chief Operating Officer at Mortgage Capital Trading, Inc. (MCT)
Organizer: Glen Corso, Executive Director at Community Mortgage Lenders of America (CMLA)
Date: Thurs., Nov. 16, 2017
Time: 2 p.m. EST/11 a.m. PST.

Webinar Overview:
Starting June 25, 2018 if a lender's net mark to market position on covered agency transactions is more than negative $250,000 on a daily basis, their FINRA registered broker dealer will be required to collect the amount that exceeds $250,000. This change is a result of a rules change by the FINRA, which regulates most broker-dealers in the U.S.

This webinar, featuring Phil Rasori, COO of Mortgage Capital Trading, Inc. (MCT), will inform lenders what they need to know about this rule change, what it will mean for their company and what they can do to minimize any negative impact due to the rule change.

Register for this complimentary webinar to learn what this change will mean for you and your business moving forward. https://www.eventbrite.com/e/complimentary-webinar-finra-mark-to-market-rule-tickets-39099150612

About MCT:
Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully-integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes.

Headquartered in San Diego, California, MCT also has offices in Philadelphia, Santa Rosa, Los Angeles and Dallas. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love. For more information, visit https://mct-trading.com/ or call (619) 543-5111.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

News from Mortgage Capital Trading Inc.

Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that it will be holding a complimentary educational webinar discussing many important changes to the Financial Industry Regulatory Authority (FINRA) Mark to Market Rule. The webinar, hosted by the Community Mortgage Lenders of America (CMLA), will guide lenders through all of the mandated rule changes in advance of the required implementation date of June 25, 2018.

Related link:

This version of news story was published on ScoopCloud™ (ScoopCloud.com) - part of and © the Neotrope® News Network - all rights reserved.

Bank of Southern California Announces Ticker Symbol Change to BCAL

California bank

SAN DIEGO, Calif., Jan. 7, 2016 (SEND2PRESS NEWSWIRE) -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), announced today that FINRA has approved a change in the Company's stock symbol. As of Monday, December 21, 2015 the new trading symbol for Bank of Southern California is BCAL. The former symbol, FBBN is no longer valid.

Nathan Rogge, President and CEO of the Company, said, "We are pleased to commence trading under the BCAL symbol which aligns our stock symbol more closely to our name. In June 2010, the bank changed its name to Bank of Southern California as the company refined its branding strategy and vision of becoming the best community business bank in Southern California. We are now one of the few remaining locally owned, community business banks headquartered in San Diego that focuses on meeting the needs of small to mid-sized businesses and professionals."

Rogge added that there have been no significant changes in the bank's local ownership, management or operations as a result of the change.

About Bank of Southern California:

A growing community business bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed and offers a wide range of financial products to individuals, professionals and small-to-mid sized businesses.

The bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with their clients. The bank currently operates seven offices in San Diego and Riverside County.

For more information, visit http://www.banksocal.com/ or call (858) 847-4780.

REF: OTCQB:BCAL / PinkSheets:BCAL

To view the original version on Send2Press Newswire, visit: https://www.send2press.com/newswire/bank-of-southern-california-announces-ticker-symbol-change-to-bcal-2016-0107-02.shtml.

NEWS SOURCE Bank of Southern California N.A. :: This press release was issued on behalf of the news source (who is solely responsible for its accuracy) by and Copr. © 2016 Send2Press® Newswire, a service of Neotrope®.