Mortgage Capital Trading (MCT) has appointed Steve Pawlowski as Managing Director, Head of Technology Solutions, responsible for expanding upon MCT’s proven record of driving efficiency and liquidity in the secondary market, and reporting directly to MCT’s COO Phil Rasori.
“Steve’s technology leadership while at Fannie Mae heralded a new era of capital markets transparency to the lender,” said Rasori. “MCT is building on that effort in numerous ways, including initiatives to bring back-end pricing closer to the front-end pricing that mortgage borrowers receive. We’re proud Steve will be applying his vision and expertise to MCT Marketplace and other best-in-class software solutions.”
Pawlowski will provide leadership on all MCT technology development, bringing extensive industry experience to MCT, including 30-plus years with Fannie Mae’s Capital Markets and Single-Family Digital Products and Services organizations. Pawlowski and his team were instrumental in developing Fannie Mae’s Servicing Marketplace and the original, first-of-their-kind pricing and commitment APIs.
MCT Marketplace users include 30% of all correspondent sellers and more than 90% of active correspondent buyers, making it the largest whole loan exchange by number of participants in the U.S. market. In addition to whole loans, MCT’s software solutions are leading venues for flow servicing, bulk MSR, and TBA transactions.
“MCT was the fastest and most comprehensive technology partner I worked with on API development while at Fannie Mae,” said Pawlowski. “I couldn’t be more excited to apply my institutional expertise to this agile and committed technology development team.”
Earlier this year, MCT added BSI Financial Services as the latest investor to join BAMCO, MCT’s marketplace for co-issue loan sales. BAMCO brings co-issue transactions directly into MCT’s whole loan trading platform and improves price transparency by connecting unapproved sellers to live executions from potential buyers.
Justin Grant, Senior Director, Head of Investor Services at MCT, added, “Historically, lenders have had far more whole loan outlets than co-issue outlets–we’re seeking to change that with BAMCO. BSI aids in that goal while bringing their respected process and excellent team.”