NOVI, Mich., May 16, 2023 (SEND2PRESS NEWSWIRE) — Vice Capital Markets, a leading mortgage hedge advisory firm for independent lenders, banks and credit unions, announced today it is one of the first Freddie Mac-integrated Secondary Market Advisors (SMAs) to release an integration with Freddie Mac’s Income Limits application programming interface (API). The API grants Vice Capital customers easy access to area median income (AMI) information to quickly determine if a loan meets the AMI percentage eligibility criteria for certain Credit Fee Caps.

Vice Capital Markets
Image Caption: Vice Capital Markets.

“Affordability is top of mind for all lenders these days, and our clients are no exception,” said Vice Capital President Troy Baars. “With the new integration to Freddie Mac’s Income Limits API, Vice Capital allows our shared clients balance the desire to provide home financing options for mortgage-ready low to-moderate income borrowers while still meeting their secondary execution goals.”

In late 2022, Freddie Mac announced targeted pricing changes, including eliminating upfront credit fees for certain borrowers and affordable mortgage products with specific limits on the borrower’s income as a percentage of AMI. Integration with the Income Limits API empowers Vice Capital’s clients to send income information and the property address to easily assess whether the borrower may qualify for the waiver of certain upfront credit fees. The API identifies loan criteria for the following conditions: High-Cost Area, 120% AMI, High Needs Rural Region Indicator and Rural Area Indicator.

Additionally, the API allows clients to access the area median income limit percentage for loans not currently locked in the pipeline by entering the state and zip code. Lenders can then use this information, along with Exhibit 19 Credit Fees and Exhibit 19A Eligibility Criteria for Credit Fee Caps, to determine if the loan may be eligible for a Freddie Mac Credit Fee Cap.

Income Limits is one of several integrated Freddie Mac APIs that Vice Capital leverages to help its clients extract maximum value from their relationship with Freddie Mac. Other integrated Freddie Mac APIs include Cash Purchase Settlement Statement and Cash-Released Xchange®.

“As an advisor to numerous Freddie Mac Seller/Servicers, these APIs make it tremendously easier for organizations like ours to access pricing and execute cash and guarantor commitments on behalf of our clients,” Baars added. “Our long-standing SMA relationship with Freddie Mac is a point of pride for us, and we look forward to continuing to work alongside Freddie Mac to find new and innovative ways to meet our shared clients’ individual secondary and capital markets needs.”

About Vice Capital Markets:

Since 2001, Vice Capital Markets has successfully managed interest rate risk and maximized profitability on 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 our team, Vice Capital has helped its clients realize, on average, a 25 to 55 bps improvement over their best effort execution, and 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. Learn more at or call (248) 869-8100.

News Source: Vice Capital Markets