SAN RAMON, Calif. - IMX LLC has formed of an ad hoc committee to develop standards for an industry-wide mortgage listing and bidding system similar to the Multiple Listing Service available to the real estate community.

The committee seeks participation from senior-level members of the mortgage banking community, including state and national mortgage and real estate sales organizations, consumer groups, mortgage industry software developers, and secondary marketing agencies.

Once standards are established, IMX will act as a membership-based "matchmaker" system that will automate the selection, placement, and trading of prefunded origination products. In essence, the IMX system would be an anonymous mortgage trading arena similar to an over-the-counter stock exchange.

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