{"id":35362,"date":"2018-04-18T17:54:46","date_gmt":"2018-04-18T21:54:46","guid":{"rendered":"https:\/\/www.send2press.com\/wire\/?p=35362"},"modified":"2018-08-10T19:36:51","modified_gmt":"2018-08-10T23:36:51","slug":"mct-wins-progress-in-lending-associations-2018-innovation-award-for-its-new-bid-auction-manager-bam-whole-loan-trading-technology","status":"publish","type":"post","link":"https:\/\/www.send2press.com\/wire\/mct-wins-progress-in-lending-associations-2018-innovation-award-for-its-new-bid-auction-manager-bam-whole-loan-trading-technology\/","title":{"rendered":"MCT Wins PROGRESS in Lending Association’s 2018 Innovation Award for its New Bid Auction Manager (BAM) Whole Loan Trading Technology"},"content":{"rendered":"

SAN DIEGO, Calif., April 18, 2018 (SEND2PRESS NEWSWIRE) — Mortgage Capital Trading, Inc. (MCT)<\/a>, a leading mortgage hedge advisory<\/a> and secondary marketing software<\/a> firm, announced that PROGRESS in Lending Association, the industry\u2019s premier mortgage technology focused organization, presented the company with its annual Innovation Award for the rapid adoption and impact of its Bid Auction Manager™ (BAM) within the whole loan trading market.<\/p>\n

\"MCT
\nOfficially unveiled in July of 2017 at the Western Secondary Market Conference in San Francisco, BAM significantly enhances the industry\u2019s loan sale practices. The solution completely automates, centralizes, and streamlines what used to be an unsecure, fragmented, and largely manual process of exchanging, pricing, and analyzing bid tapes for loan sales. Lenders, investors, and MCT\u2019s team of mortgage loan traders benefit from a consistent process, greater transparency, and a centralized repository for bid tape management. BAM is easily and securely accessed by permissioned parties via MCT\u2018s award-winning capital market software platform, MCTlive!™.<\/p>\n

Now in its eight year, the highly competitive annual Innovation Awards were presented to winners at a prestigious ceremony held by PROGRESS in Lending Association at the MBA\u2019s National Mortgage Technology Conference in Detroit, Michigan on Sunday, April 15. Judges scored applications using a weighted scale that focuses on achievements over a 12-month period for each innovation’s overall industry significance, originality, positive change on the industry, intangible efficiencies gained, and hard return on investment.<\/p>\n

\u201cBAM is truly industry-altering fintech that is changing the way bulk bid loan tapes are transferred between lenders and investors,\u201d said Phil Rasori, COO at MCT and Chief Architect of BAM. \u201cAs we continue to add functionality and make the solution more robust, ultimately, what BAM is achieving is helping move the mortgage industry toward digital loan trading on the secondary market. We are extremely honored to have been recognized by PROGRESS in Lending as a 2018 Innovation Award winner.\u201d<\/p>\n

Since launching BAM, functionality has been added for both lenders and correspondent investors, with several notable metrics that have been achieved:<\/strong><\/p>\n