WASHINGTON Pedestal Inc. and Americas Community Bankers have reached an agreement to give the groups members access to Pedestals whole-loan trading, flow delivery, and MPF Link trading systems through a co-branded Web site.
Pedestal and the thrift group will jointly promote the site, which will facilitate the trading of unstructured mortgage loans, including unsecuritized whole-loan pools and loans on a flow basis, to ACB members.
ACB Partners Inc., the groups resource subsidiary, has also endorsed Pedestal as the preferred electronic mortgage trading platform for its members.
Terry Rowland, managing director of sales and marketing at Pedestal said, by aligning with Pedestal, ACB members will gain greater access to the secondary market, including products and pricing that generally would not be available to community banks.
Mike Potter, chief executive officer ACB Partners, said bringing this technology to the secondary marketplace will improve the speed and quality of information, which can translate into superior execution and more transparent pricing.
