Altisource Launches Mortgage Trading Platform
noteXchange is a secondary market trading platform that brings buyers and sellers together. It enables communication, shorter sales cycles and automated processes, according to the company.
The platform creates a uniform, compliant, secure and efficient technology solution in the mortgage trading market. It is designed to replace the current system of transacting through spreadsheets and email.
This move comes as no surprise to HousingWire readers, who read in the March magazine about mortgage companies increasing their security after a record number of hacks.
“We worked closely with various buyers and sellers during the development process to create a product that would make the loan trading process more simple, transparent and secure,” said Bryan Binder, Altisource Origination Solutions co-lead and CEO of Lender One. “The beta phase consisted of more than 40 participants whose direct feedback helped shape the technology we are offering today.”
Altisource is working with Thomson Reuters in order to provide real-time pricing data to help inform bids made on the platform.