Voxtur Analytics Corp., a technology company creating a more transparent and accessible real estate lending ecosystem, recently revealed an exclusive strategic partnership with one of the largest Federal Housing Administration (FHA) and Veterans Administration (VA) lenders in the country to implement Voxtur’s mortgage asset trading platform, Blue Water’s new Correspondent-as-a-Service (CasS) platform, Voxtur announced in a release.
The rules-based transaction platform facilitates pricing, commitment, transfer and transaction of whole loans and mortgage servicing rights (“MSR”) with a single click. The system also comes bundled with Blue Water’s loan-level pricing engine, an order management and allocation system, and an ability to route mortgage assets to various investors based on their eligibility, pricing, and document requirements.
Through a multi-year agreement, the release stated, Voxtur will serve as the operating platform for pricing, trading, and transacting mortgage assets. With Blue Water’s CaaS technology, the lender will now be able to issue bids and deliver commitments through an integrated platform that interacts with more than 400 mortgage originators.
“This is a key strategic relationship for Blue Water and therefore, for Voxtur. The scale and reach of this client are broad and deep across the industry. By providing liquidity and price transparency through this platform, we expect to be able to offer additional Voxtur solutions, making it a single point of contact for the client,” Al Qureshi, president of BlueWater, Voxtur’s capital markets business line, said in the release. “We just added hundreds of additional mortgage originators to our platform. Those are sellers using our software who are also hungry for efficiency and liquidity. We are well-positioned to meet their needs and can provide a suite of services designed to elevate their processes. This is an exciting development for all parties involved.”
Additionally, Voxtur plans to expand the CaaS platform to include additional mortgage asset classes and leverage this partnership to deliver primary mortgage market solutions available from Voxtur’s suite of products, including Voxtur’s AOL title insurance alternative, automated valuation solutions, and on-demand underwriting.
This will create a single point of access for these mortgage originators to connect with one of the largest mortgage investor bases in the United States and will, in turn, give Voxtur exposure to a significant number of additional mortgage originators, according to the company.
“We are gaining market share and attachment points to move not just our secondary market-related products forward, but also our cutting-edge primary market solutions,” Voxtur CEO Gary Yeoman said. “We are gaining traction with these core product offerings and creating a natural runway for adoption by our origination and investment customers. I expect to see these synergies manifest through deliberate execution and expect them to create meaningful value.”