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MAX Offers a Powerful Trading Platform for Residential Loans — Including Conforming & Jumbo Loans

The FHLBNY is pleased to offer this exciting new program — now open to all members. The Mortgage Asset Exchange (MAX) is a new multi-seller to multi-buyer residential mortgage loan trading platform developed by MAXEX, LLC (MAXEX), a leading financial services technology company founded by long-time mortgage industry veterans. Through a strategic alliance with MAXEX, the FHLBNY is now able to offer qualified members the ability to sell residential mortgage loans to a wide variety of end Buyers, including some of the largest purchasers in the secondary market. Participating members will also be able to buy loans from other participating members, whether for investment purposes, to meet CRA requirements, or for other aggregation needs.

Consider MAX for your secondary market needs, as MAX supports a wide array of QM-eligible conventional mortgage products (both jumbo and conforming), new origination as well as seasoned loan transactions, flow and bulk execution strategies, and best efforts or mandatory delivery options. Currently the program only involves servicing-released transactions, and it is expected that a servicing-retained execution will also be available in the near future. 

KEY FEATURES OF MAX

Single Clearinghouse and Counterparty

Single, Standardized Contract

Centralized Approval and Monitoring

Independent Loan Audits

Independent Dispute Resolution and Backstop

Benefits for Lenders/Sellers & Buyers

MAX’s centralized participant approval and monitoring, independent loan audits, and backstop mechanism enhance the value of mortgage loans that trade through MAX and relieve both Buyers and Sellers of many of the risks and costs in today’s secondary market.

In addition, MAX’s single counterparty structure allows for anonymous two-way trading, which enables all Sellers to receive best execution pricing for their loans, regardless of their size, transaction volume, or perceived counterparty risk. By more efficiently connecting Buyers and Sellers, MAX eliminates the middleman and reduces duplicative costs, thus further improving the overall execution for both Buyers and Sellers.

The FHLBNY can present this opportunity to your team. 
Contact your Relationship Manager at (212) 441-6700 to schedule.