Tag Archives: mortgage origination

2022 HousingWire Tech100 Mortgage Award Announces MCT As Leader In Innovation

SAN DIEGO, Calif. /ScoopCloud/ -- Mortgage Capital Trading (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, was announced as a 2022 HousingWire Tech100 Mortgage Winner. The Tech100 Mortgage Award spotlights innovators that are making the housing sector better and more sustainable by increasing efficiency, improving borrower experience and bringing elasticity to mortgage origination and servicing processes. MCT achieved several company milestones throughout the past year by launching and enhancing several technology solutions and services which helped the company earn a spot on the latest Tech100 list.

MCT was measured on the company's key technology, quantifiable metrics and client impact. It's increasingly clear that the winners in today's housing economy have latched onto the concept of sustaining innovation. MCT is listed as one of the companies and solutions demonstrating a new era of innovators that understand the dynamics of the housing industry.

MCT continues to facilitate whole loan liquidity between sellers and buyers of mortgage loans with a new program released in 2020 called BAM Marketplace, a platform within MCTlive!®. It is a truly open loan exchange where buyers can bid regardless of approval status, and sellers receive automated live pricing from every buyer on the platform. Leveraging MCT's patent-pending Security Spread Commitment, BAM Marketplace facilitates bids between unapproved counterparties, which ensures sellers receive more bids and better execution for their loans than anywhere else in the industry. This functionality is providing sellers unique access to a larger group of buyers and resulting in average pickups of almost 23 BPS over cover bids. This technology is resulting in a revolutionary new era of maximized liquidity, eliminated barriers and optimized execution.

"We are thrilled and delighted to be recognized once again by HousingWire for our contributions to the technological advancement of the mortgage industry," said Curtis Richins, President and CEO of MCT. "It wouldn't have been possible without the dedication and intelligence of our outstanding team members, who are committed to supporting clients in the best ways possible, always striving to push the ball of what a trusted capital markets partner can offer. This award is a testament to the hard work and dedication of all our employees."

This feature has 200+ sellers transacting in the marketplace and $7 billion transacted between marketplace buyers and sellers to date. Sellers on BAM Marketplace are experiencing an average pickup of 36 bps on government production, 26 bps on conventional production, 52 bps on government with FICO under 660, 41 bps with a low loan amount (under $200k) and 59 bps on MFG.

Those interested in learning more about the features and benefits of MCT's award-winning technology and services are encouraged to contact MCT for more information.

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's offerings include mortgage pipeline hedging, best execution loan sales, business intelligence and analytics, outsourced lock desk solutions, MSR valuation, hedging, and bulk sales, and the world's first, truly open marketplace for loan sales. MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes within its award-winning digital platform, MCTlive!®. Headquartered in sunny San Diego, MCT also has offices in Healdsburg, CA, Philadelphia, PA and Texas.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

Mortgage Capital Trading (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, was announced as a 2022 HousingWire Tech100 Mortgage Winner. The Tech100 Mortgage Award spotlights innovators that are making the housing sector better and more sustainable by increasing efficiency, improving borrower experience and bringing elasticity to mortgage origination and servicing processes.

Related link: https://mct-trading.com/

ARMCO Enhances ACES IQ with Addition of HMDA Questionnaires

DENVER, Colo. /ScoopCloud/ -- ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, announced today it has added questionnaires related to the Home Mortgage Disclosure Act (HMDA) to the ACES Intelligent Questionnaire (ACES IQ) functionality contained within the ACES Audit Technology™ system. With this set of HMDA-specific questions, ACES users can quickly and easily conduct quality control on their HMDA data before reporting this data to their assigned federal HMDA regulator.

"With the CFPB's 2019 HMDA rule changes now firmly in effect, lending institutions have a better idea of where their individual responsibilities reside in regards to HMDA reporting," ARMCO CEO Trevor Gauthier said. "Given this recent move from yearly to quarterly reporting, ARMCO felt the time was right to introduce HMDA-specific questionnaires to enable our customers to streamline and perfect their data integrity auditing for HMDA."

These additions are the latest in a series of expansions to the ACES IQ content library designed to enhance the compliance support ARMCO provides to its users. Using both managed and custom quality control audit questions, ACES IQ assists lenders in addressing regulations and guidelines set forth by state and federal regulators, private investors, the GSEs and agencies. The module leverages the loan-level data contained within ACES to quickly isolate desired question sets and answer-based logic to dynamically filter question sets down to the most relevant items, enabling ACES users to cut their review times by up to 50%.

Last year, the company added more than 4,000 questions to ACES IQ to ensure broad-based coverage of all lending compliance topics, including HMDA, and ease the burden for compliance teams in conducting loan-level reviews.

"Quality control and compliance go hand in hand - you cannot have one without the other," Gauthier said. "ARMCO has recognized this need from day one and invested considerable resources in proactively building out a compliance library backed by a highly experienced team of compliance experts to ensure the information ARMCO provides to its customers is always up-to-date and comprehensive."

About ARMCO
Over half of the top 25 mortgage lenders and 33% of the top 150 lenders and servicers combined choose ARMCO. ARMCO's product line includes loan quality enterprise software, services, data and analytics. Its flagship product, ACES Audit Technology™, has set the bar for user definability in its category. It is used at virtually every point in the mortgage lifecycle, as well as for a wide range of risk-prone business operations outside traditional mortgage origination and servicing.

ARMCO's consultative approach to customer relationships leverages 25 years of mortgage risk intel, assuring that its clients are using the most effective risk mitigation strategies, and are using the fastest, most reliable, most efficient means for preventing risk-related loss. ARMCO distributes the ARMCO Mortgage QC Industry Trends Report, a free quarterly analysis of industry-wide mortgage loan quality.

For more information, visit http://www.armco.us/ or call 1-800-858-1598.

ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, announced today it has added questionnaires related to the Home Mortgage Disclosure Act (HMDA) to the ACES Intelligent Questionnaire (ACES IQ) functionality contained within the ACES Audit Technology™ system.

Related link: https://www.armco.us/

TRK Connection Hires Chris Bruner as Senior Vice President of National Sales

SALT LAKE CITY, Utah /ScoopCloud/ -- TRK Connection (TRK), a leading provider of mortgage quality control (QC) and origination management solutions, announced today it has hired Chris Bruner, CMB, AMP, as Senior Vice President of National Sales. In this role, Bruner will lead TRK's sales division, advising mortgage operations centers across the U.S. on how to leverage TRK's Insight Risk & Defect Management (RDM) mortgage quality control (QC) audit platform to improve quality control cost centers.

"Chris Bruner is a highly experienced mortgage sales professional with deep roots in the compliance and QC sectors of the industry," said TRK Executive Vice President of Strategy Jeremy Burcham. "His extensive knowledge of this space will undoubtedly prove to be an asset as TRK enters into its next phase of growth."

Prior to joining TRK Connection, Bruner was a managing principal at Fiserv, Inc., in Wisconsin for two years. While at Fiserv, he helped to streamline loan processing, reduce costs and support regulatory compliance with an automated life-of-loan solution. Bruner also spent three years with Florida-based ACES Risk Management (ARMCO), where he served as a National Sales Director.

Having spent nearly 20 years in the mortgage industry, Bruner gained the majority of his experience working for AppIntelligence and Interthinx, which merged in 2007. From 2003 through 2007, Bruner worked in business development at AppIntelligence, and after the merger, he worked as a sales director in Interthinx's Compliance Department until 2013. Bruner started in the industry at Wave Technologies in Missouri, spending two years as a sales representative.

"In today's mortgage environment, lenders simply cannot afford to conduct their QC operations manually," Bruner said. "With its industry-first Encompass integration using the latest Ellie Mae Encompass Partner Connect APIs, TRK has built the most sophisticated audit systems on the market, and I look forward to helping lenders leverage this unique and powerful platform to mitigate loan defects and drive loan quality."

About TRK Connection:

Founded in 2013, TRK Connection prides itself on its ability to develop technologies that allow businesses to surpass their organizational needs and meet their business objectives. As an innovator in the mortgage origination and quality assurance space, TRK continues to develop and refine solutions geared to promote and strengthen the loan origination process, pre/post-close loan audits and the defect remediation process.

Currently, TRK offers solutions that support Mortgage Audit & Quality Control (Insight Risk & Defect Management(TM)), Loan Origination Vendor Management (Core Connect(TM)), Complete LOS Connectivity Platforms and more.

For more information, visit http://trkconnection.com/

TRK Connection (TRK), a leading provider of mortgage quality control (QC) and origination management solutions, announced today it has hired Chris Bruner, CMB, AMP, as Senior Vice President of National Sales.

Related link: http://trkconnection.com/

Cloudvirga CEO Michael Schreck honored by HousingWire as Vanguard Award winner

IRVINE, Calif. /ScoopCloud/ -- Cloudvirga(TM), a leading provider of digital mortgage software, today announced that CEO Michael Schreck is a recipient of HousingWire's 2018 HW Vanguard Award(TM). Now in its fourth year, the Vanguard Awards spotlight the housing finance industry's most successful and influential executives.

Schreck was recognized as a mortgage innovator with a 20-year track record of leading pioneering fintech companies to successful exits (including acquisitions by IBM, Sallie Mae, VeriSign and GSI Commerce that were collectively valued at over $1 billion).

Since joining Cloudvirga in 2017, Schreck has raised over $50 million in private-equity funding to further the company's mission of transforming and digitizing mortgage origination. His background as a fintech founder, investor and CEO has helped him build an all-star leadership team that includes former executives of Microsoft, Roostify, IBM, Intuit, Altisource, LoanDepot and other industry leaders.

After less than three years in operation, Cloudvirga counts nine of the top 40 non-bank mortgage lenders as customers and recently expanded its product lineup with the launch of Mobile POS and a forthcoming Broker POS in partnership with ARIVE. Prior to Cloudvirga, Schreck was managing director of the Altisource Labs innovation center. Schreck also co-founded General Catalyst Partners, a multi-billion-dollar venture capital firm.

"It's an honor to be recognized among such an esteemed group of industry luminaries," said Schreck. "This award is really not about me - it's a reflection of the entire Cloudvirga team and what we are achieving together. We have assembled a singular group that is truly committed to our mission of driving down the cost of home loans."

"As the Vanguard Awards program continues to grow ... the entry point gets tighter," said HousingWire Editor-in-Chief Jacob Gaffney. "These winners are truly the best in the mortgage finance industry."

A complete listing of honorees appears in the December/January issue of HousingWire magazine and can be found online at https://www.housingwire.com/articles/47526-meet-the-2018-hw-vanguard-award-winners.

About HousingWire:

HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches over 40,000 newsletter subscribers daily and over 4 million unique visitors each year. Our audience of mortgage, real estate, financial services and fintech professionals rely on us to Move Markets Forward. Visit http://www.housingwire.com/ or http://www.solutions.housingwire.com/ to learn more.

About Cloudvirga(TM):

Cloudvirga's digital mortgage point-of-sale (POS) software, powered by the intelligent Mortgage Platform(R), uniquely combines a world-class borrower experience with a truly automated lender workflow that radically cuts overall loan costs, increases transparency and reduces the time to close a loan. Led by top fintech veterans with a track record of building successful mortgage technologies, Cloudvirga's customer base includes nine of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over $77 million from some of the country's top lenders and private-equity firms.

For more information, visit https://www.cloudvirga.com/ or follow Cloudvirga on LinkedIn.

Twitter: @Cloudvirga @HousingWire #2018HWVanguards

Cloudvirga(TM), a leading provider of digital mortgage software, today announced that CEO Michael Schreck is a recipient of HousingWire's 2018 HW Vanguard Award(TM). Now in its fourth year, the Vanguard Awards spotlight the housing finance industry's most successful and influential executives.

Related link: https://www.cloudvirga.com/

The Mortgage Collaborative Welcomes Partners Credit and Verification Solutions to Preferred Partner Network

SAN DIEGO, Calif. /ScoopCloud/ -- SAN DIEGO, Calif., April 2, 2018 (SEND2PRESS NEWSWIRE) -- The Mortgage Collaborative, the nation's only independent mortgage cooperative, today announced the addition of credit and verification solutions firm Partners Credit & Verification Solutions to its Preferred Partner network. Partners Credit offers TMC members a suite of comprehensive and customized credit related products and services.

"We're excited to have such a flexible and tech-savvy provider like Partners Credit joining our preferred partner network," said Rich Swerbinsky, Chief Operating Officer of The Mortgage Collaborative. "Our members stand to immensely benefit from a personalized offering as it relates to their credit and verifications needs as a result of the addition of Partners Credit to TMC's preferred partner network."

Partners Credit & Verification Solutions is the preferred provider of innovative verification and credit-related services for thousands of mortgage professionals. Partners Credit helps accomplish more through their suite of comprehensive, easy-to-use products and services. By seamlessly facilitating a client's lending process, Partners Credit helps assure compliance and reduce the number of third parties engaged in their client's workflow. This all-in-one streamlined approach enables clients of Partners Credit to spend less time managing vendors and more time focusing on what really matters: the borrower.

"We're honored to join the TMC family," said Blake Matheson, CEO and Managing Partner of Partners Credit & Verification Solutions. "The mortgage business is more dynamic than ever and full of new challenges and opportunities. We look forward to ensuring TMC's members have the tools needed to close more loans efficiently, compliantly and at low cost."

The Mortgage Collaborative network is more than 130 lenders strong, with an aggregate annual origination volume of over $220 billion. The lender network is supported by a preferred partner network of organizations that specialize within each facet of the mortgage life cycle. The Mortgage Collaborative is rewriting the playbook on the cooperative model and their network caters to lenders of all sizes, with a strong mix of independent mortgage brokers and community banks and depositories.

About The Mortgage Collaborative:

Based in San Diego, The Mortgage Collaborative was founded in 2013 to empower mortgage lenders across the country with better financial execution, reduced costs, enhanced expertise, improved compliance, and to help its members access the dynamic and changing consumer base in America. The association is managed by its founding members: John Robbins, CMB; David Kittle, CMB; Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals (NAHREP); and Jim Park, former chair of the Asian Real Estate Association of America (AREAA). Robbins and Kittle are former chairmen of the Mortgage Bankers Association of America (MBA).

For more information, visit: https://www.mortgagecollaborative.com/.

About Partners Credit & Verification Solutions:

Based in Chicago Illinois and Monterey California, Partners Credit was founded in 1994 by two old friends and football coaches. Tor Matheson and Terry Donahue became close as teammates on UCLA's 1966 Rose Bowl Championship Team. Years later, after a stint running a regional collection agency and credit bureau, Tor asked Terry (who would soon become the most winning college football coach in Pac-10 conference history) to partner with him in a novel venture: a technology-driven credit reporting company that would utilize emerging, web-based solutions to deliver borrower credit data for mortgage banking. Today Partners offers a full suite of customizable underwriting and due diligence tools for mortgage origination, loan portfolio review, and risk mitigation. Since its inception, Partners has dedicated itself to three values: service, innovation, and integrity.

For more information, visit: http://www.partnerscredit.com/.

The Mortgage Collaborative (;TMC'), the nation's only independent mortgage cooperative, today announced the addition of credit and verification solutions firm Partners Credit & Verification Solutions to its Preferred Partner network. Partners Credit offers TMC members a suite of comprehensive and customized credit related products and services.

Related link: http://www.mortgagecollaborative.com/