CMC Launches MountainView’s Mortgage Loan Purchase Program

 

Ponte Vedra Beach, Florida (September 15, 2010) – Capital Markets Cooperative, a partnership of residential mortgage loan originators, today announced a strategic alliance with MountainView Capital Group, a residential mortgage loan trader. The alliance gives CMC members access to MountainView’s Loan Purchase Program, which provides an outlet for loans rejected by the large investors and aggregators.

“Government-sponsored enterprises and conduit investors require originators to repurchase loans when there are underwriting and documentation issues or other deficiencies,” explained Tom Millon, Chief Executive Officer at Capital Markets Cooperative. “These kickbacks have the potential to significantly impact CMC members’ profitability, and MountainView’s program is a solution we trust.”

MountainView Capital Group has nearly 20 years of experience trading residential whole loans, and its Loan Purchase Program began in 2008. The program provides an outlet to originators with newly originated scratch-and-dent loans and offers them aggressive pricing and timely funding.

“One of MountainView’s differentiators is that all data analysis, pricing, due diligence and contract finance is done in-house,” commented Jonas Roth, a managing director at MountainView Capital Group. “We also have capital immediately available through MountainView Mortgage Opportunities Fund II, which invests in residential whole loans.”

CMC will formally introduce the Loan Purchase Program to its members on a conference call in early October.

 

About CMC

Capital Markets Cooperative provides mortgage bankers with the economies of scale and the expertise that reduce risk and maximize profit in the secondary market. Regarded as the premiere secondary marketing specialists in the industry, CMC has worked with financial institutions nationwide to improve secondary market execution and reduce operational expenses, resulting in a more profitable mortgage business.

 

About MountainView

Headquartered in Denver, MountainView Capital Holdings is a financial services firm focused on the diverse needs of participants in the mortgage and fixed income capital markets. With expertise in asset management, valuation, risk management, trading, marketing and sales, MountainView is uniquely qualified to create value in all market conditions, and the firm continues to build on a longstanding commitment to offer a broad range of services.

 

Media Contacts

Chris Romano | 904-543-0052 or cromano@capmkts.org

Troy Rusniak | 303-870-8235 or trusniak@mvcg.com