"Incenter said that trading these types of loans has historically been a highly inefficient process as buyers often spending days finding and securing loans that meet their credit and collateral requirements, which vary by community. And sellers often have a surplus of these loans but lack access to buyers who frequently pay a premium. The exchange attempts to solve these problems by serving as a confidential and secure matchmaker, according to Incenter."
"After buyers include any credit overlays or metro-area-specific requirements, and sellers provide details on their loans, the platform connects potential partners, alerts them, establishes loan eligibility and lists current pricing. Sellers can then identify premium CRA pay-up opportunities at or near the point of sale. Buyers and sellers control the servicing asset through this process, with both retained servicing and third-party servicing options available through the exchange."
Incenter launched the CRA Exchange Platform, developed with e11tec and Watermark TPO, to streamline trading and transfer processes and improve clients' financial performance. The platform matches buyers and sellers of loans to low-to-moderate-income borrowers, reduces inefficiencies where buyers spend days finding loans and sellers lack buyer access, and enables sellers to identify premium CRA pay-ups. Buyers provide credit overlays and metro-specific requirements while sellers list loan details; the platform connects partners, verifies eligibility and lists pricing. Servicing options include retained or third-party servicing, and Watermark TPO handles purchase agreements, negotiations, due diligence, settlement and transfers.
Read at www.housingwire.com
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