Vice Capital Markets Launches API for Freddie Mac Cash Purchase Statement

NOVI, Mich., Aug. 18, 2022 (SEND2PRESS NEWSWIRE) — Vice Capital Markets, a leading mortgage cover advisory firm for independent lenders, banks and credit unions, today announced that it is one of the first Secondary Market Advisors (SMAs) integrated with Freddie Mac at Release an integration for Freddie Mac’s Cash Settlement Purchase Report Application Programming Interface (API). The API simplifies the finance reconciliation process by providing direct access to cash purchase statement data for loans sold to Freddie Mac, allowing lenders to quickly review and export loan advice information. purchase.

Image caption: Vice Capital Markets.

“With the new Cash Settlement Purchase Statement API, Vice Capital is providing our Freddie Mac approved clients with simplified access to cash purchase statement data, including funding details and credit charges at loan level,” Vice Chairman Troy Baars said. “As a long-time Integrated ADM, we deeply value our relationship with Freddie Mac and commend them for continually innovating to meet the unique and varied needs of secondary and capital markets lenders.”

Using the Cash Settlement Purchase Statement API, Vice Capital clients can access full contract and loan level details for each loan committed on a particular date directly through Vice Capital’s client portal, enabling a faster and more accurate reconciliation process.

Founded in 2001, Vice Capital serves independent mortgage lenders and financial institutions of all sizes, with monthly mortgage production volumes ranging from $10 million to $5 billion per month. Last year, the company set a new record for internal trade volume, transacting more than $202 billion on behalf of its full-service clients, and saw a marked increase in its customer base, including growth of over 50% in the credit union space. Today, one in 15 mortgages issued in the United States is either brokered by Vice Capital or hedged using its proprietary software.

About Vice Capital Markets:

Since 2001, Vice Capital Markets has successfully managed interest rate risk and maximized profitability in MBS transactions and mortgage-related transactions for banks, credit unions and mortgage lenders of all sizes. With an average of over 10 years of experience behind each of our team’s traders, Vice Capital has helped clients achieve, on average, a 25 to 55 basis point improvement over their best execution, and patterns Vice Capital’s proprietary risk management and complex investor and agency best execution platform has always enabled its clients to maximize profits in a safe and efficient manner.

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News source: Vice Capital Markets