Optimal Blue Acquires Resitrader, Creates Industrys Largest Mortgage Loan Trading Platform

Today, Optimal
Blue announced the acquisition of Resitrader,
creating the mortgage industry’s largest mortgage loan trading platform.
With the addition of Resitrader, Optimal Blue now supports $750 billion
of transactions each year across its Digital Mortgage Marketplace,
including nearly $600 billion of rate locks processed through its
product and pricing engine and more than $150 billion of transactions
through its hedging solution.

Since its founding in 2015, Resitrader has focused on bringing
automation and transparency to the spot market for mortgage loans.
Resitrader’s interactive trading environment enables buyers, sellers,
and their advisors to transact in real time using an auction process and
replaces the widely-used method of exchanging bid tapes via email. The
solution also helps traders optimize executions by supporting
shadow-bidding, the posting of axes, chat-based communication, and color
reports. Resitrader has achieved remarkable success with its trading
platform over the past year, recording a 400% increase in transactions.

“Two years ago, Optimal Blue set out to build a Digital Mortgage
Marketplace that facilitates transactions between originators,
investors, and the providers both use. This acquisition is another key
step in that journey,” explained Scott Happ, CEO of Optimal Blue.
“Resitrader is the clear market leader in bringing efficiency,
transparency, and security to a critical and expanding segment of the
mortgage market, and we are excited to offer this innovative solution to
our clients.”

By making Resitrader available to Optimal Blue customers, the company
expects a major expansion in trading volume over the next year. The
platform will be integrated with Optimal Blue’s hedging solution and
substantially expand the company’s capabilities in the bulk bid market,
an execution widely used by lenders employing a mandatory delivery
strategy. More than 50 buyers are already active on the platform and
over 150 sellers are expected on the platform by year end. Additionally,
Optimal Blue will seek to expand third party relationships with hedge
advisors and whole loan traders needing access to the bulk market. John
Ardy, CEO of Resitrader, said, “We are thrilled to join an organization
that shares our vision of creating the industry’s premier platform for
trading mortgage loans.” He added, “With Optimal Blue’s backing, I
expect Resitrader to continue its rapid growth, bringing depth and
breadth to the market.”

The company is proud to share that John Ardy, Seever Sulaiman, CIO of
Resitrader, and the entire Resitrader team joined Optimal Blue upon
close of the transaction. According to Happ, “John and Seever are proven
innovators and bring considerable experience in building trading
platforms to our team. There is no limit to what we can do together.”


Optimal Blue, a financial technology company, operates the nation’s
largest Digital Mortgage Marketplace, connecting a network of
originators and investors and facilitating a broad set of secondary
market interactions. The company’s technology solutions include product
eligibility and pricing, lock desk automation, risk management, loan
trading, and data and analytics. More than $750 billion of transactions
are processed each year across the Optimal Blue platform.

For more information, visit www.optimalblue.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180710005829/en/

Leave a Comment