Ignition Hits Record Volume
Ignition Mortgage Technology Solutions Inc., a Freddie Mac company and provider of mortgage pricing, risk management and custom development services, says that its LockPoint Xtra and Pipeline Tools products supported more than $196 billion in lending transactions in 2002.
LockPoint Xtra enabled lenders to enter into mortgage commitments exceeding $85 billion in 2002, compared to $61 billion the previous year, the company said.
In 2002, Ignition's Pipeline Tools helped lenders hedge and deliver $111 billion of mortgage loans, compared to $81 billion in 2001.
"The favorable interest rate environment and new LockPoint Xtra and Pipeline Tools' customers contributed to Ignition having another record-breaking year in 2002," said Jim Taylor, executive vice president of Ignition Mortgage Technology Solutions.
Copyright 2003 Thomson Media Inc. All Rights Reserved.