Altisource Portfolio Solutions has launched a new mortgage trading platform for mortgage bankers and loan investors.
The new secondary market trading platform, called noteXchange, was designed to facilitate better communication and shorter sales cycles through automated processes for buyers and sellers.
The platform will also feature access to real-time pricing data through a relationship with Thomson Reuters. Through this functionality, buyers and sellers' bids are anchored to market instruments that provide updates every 20 seconds, which is aimed at minimizing hedging risk.
To develop the platform, Altisource worked with various buyers and sellers, including a beta phase that included more than 40 participants.
Today, Altisource's subsidiary Lenders One Cooperative
