“As one of the pioneering mortgage originators, we look forward to working with Broadridge on the newly launched, centralized Trade Assignment Portal,” said Stanley C. Middleman, President and CEO of Freedom Mortgage. “Leveraging Broadridge’s network and scale, the platform will also allow us to minimize the time spent on manual trade assignments and better focus on core business functions.”

“Broadridge is committed to introducing technology innovations that help our clients further eliminate operational inefficiencies and grow their businesses. TAP is an example of such an innovative platform that streamlines industry workflows across MBS participants,” said Vijay Mayadas, president of Global Fixed Income and Analytics, Broadridge. “We are excited to work with broker-dealers and mortgage originators, enabling them to grow as we leverage our network value to help clients get ahead of today’s challenges and capitalize on tomorrow’s opportunities.”

Throughout the capital markets industry, the current process of handling MBS Trade Assignments from originators is largely manual, resource-intensive and prone to error. TAP enables originators and broker-dealers to electronically send and receive trade assignments, allowing firms to process MBS Trade Assignments at a substantially faster rate. TAP’s transparent workflow also allows firms to know assignment statuses at all times – a necessity not easily available in the manual process. Given the industry’s keen interest in solving for the manual process of trade assignments, Broadridge will utilize its network of clients and role as a trusted Fintech partner to create this new marketplace solution that is being embraced by several leading originators and broker-dealers.