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Vice Capital Markets Releases API for Freddie Mac Cash Purchase Statement

Vice Capital Markets

NOVI, Mich., Aug 18, 2022 (SEND2PRESS NEWSWIRE) -- Vice Capital Markets, a leading mortgage hedge advisory firm for independent lenders, banks and credit unions, announced today that it is one of the first Freddie Mac-integrated Secondary Market Advisors (SMAs) to release an integration for Freddie Mac's Cash Settlement Purchase Statement application programming interface (API). The API simplifies the funding reconciliation process by providing direct access to cash purchase statement data for the loans sold to Freddie Mac, enabling lenders to quickly review and export purchase advice information.

"With the new Cash Settlement Purchase Statement API, Vice Capital provides our Freddie Mac-approved clients with streamlined access to cash purchase statement data, including funding details and loan-level credit fees," said Vice Capital President Troy Baars. "As a long-time integrated SMA, we deeply value our relationship with Freddie Mac and applaud them for continuously innovating to meet lenders' unique and varied secondary and capital markets needs."

Using the Cash Settlement Purchase Statement API, Vice Capital clients can access the full contract and loan level detail of each loan committed on a particular date directly through the Vice Capital client portal, leading to 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 a month. Last year, the company set a new internal trade volume record, trading more than $202 billion on behalf of its full-service clients, and experienced a marked increase in its client base, including more than 50% growth in the credit union space. Today, one in every 15 mortgages originated in the United States are traded 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 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 https://www.vicecapitalmarkets.com/ or call (248) 869-8100.

News Source: Vice Capital Markets

Related link: https://www.vicecapitalmarkets.com/

This press release was issued on behalf of the news source, who is solely responsible for its accuracy, by Send2Press Newswire. To view the original story, visit: https://www.send2press.com/wire/vice-capital-markets-releases-api-for-freddie-mac-cash-purchase-statement/

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