News Source: Vice Capital Markets
Integration aligns mortgage lenders' mission-focused lending efforts with secondary market execution to maximize profitability
NOVI, Mich., July 9, 2024 (SEND2PRESS NEWSWIRE) — Vice Capital Markets, a leading mortgage hedge advisory firm for independent lenders, banks and credit unions, announced today it has integrated the Fannie Mae® Mission Score application programming interface (API) into its trading portal, allowing current clients to take advantage of pricing and best execution decisions to improve gain-on-sale.
Image caption: Vice Capital Markets.
“By utilizing current integrations with Fannie Mae and making minimal updates to current procedures, our development team was able to deliver our clients instant access to FNMA’s Mission Index API,” said Vice Capital Chief Information Officer Shawn Ansley. “The API integration gives our clients the peace of mind that the Mission Index value we are using to evaluate best execution on their loans is 100% accurate and incorporates all the required data components to accurately score each individual loan.”
“The Mission Score API and Mission Score product grids are Fannie Mae’s latest solutions intended to support affordable homeownership opportunities and promote mission-based financing to qualified borrowers,” said Pete Skarnulis, Single-Family Business Account Management Solutions – Vice President at Fannie Mae. “Through close partnership and collaboration with our industry partners, we’re able to introduce innovative solutions to the market at scale, helping to promote positive change across the mortgage industry.”
About Vice Capital Markets
Since 2001, Vice Capital Markets has successfully managed interest rate risk and maximized profitability on more than $1 trillion in MBS trades and mortgage-related transactions for banks, credit unions and mortgage lenders of all sizes. With an average of more than 10 years’ experience behind each of the traders on its team, Vice Capital has helped its clients realize, on average, a 25 to 55 basis point (bps) improvement over their best effort execution. Vice Capital’s proprietary risk-management models and complex investor and agency best execution platform have consistently yielded safe and effective profit maximization for its clients. To learn more, visit https://www.vicecapitalmarkets.com/ or call (248) 869-8100.
This press release was issued on behalf of the news source (Vice Capital Markets), who is solely responsible for its accuracy, by Send2Press Newswire.
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