© Copyright 2019, MAXEX, LLC. All rights reserved.

About Us

MAXEX operates a multi-seller to multi-buyer residential mortgage exchange for the benefit of the tens of thousands of institutions nationwide that buy and sell residential mortgage loans in the secondary mortgage market. MAXEX has developed the technology and infrastructure to revolutionize the antiquated mortgage market, providing an integrated solution for secondary market access.

 

To date, MAXEX has facilitated over $4 billion in loan trades and has contributed to twenty seven securitizations. MAXEX is rapidly onboarding new buyers, sellers, and products as it rolls its solution out nationwide.

How It Works

Single, Centralized Counterparty

MAXEX’s wholly owned subsidiary, MAXEX Clearing LLC, acts as the clearinghouse and counterparty to each side of the transaction. This structure creates a more efficient secondary market by allowing both buyers and sellers to transact with a wide spectrum of market participants while facing just one legal counterparty: MAXEX Clearing. 

Single, Standardized Contract

MAXEX’s standardized loan sale terms, developed through extensive collaboration with many of the market’s leading constituents, enable buyers and sellers to sign one contract with MAXEX and transact confidently and efficiently with numerous counterparties.

Centralized Approval & Monitoring

Centralized approval and monitoring allows buyers and sellers to save on approval and monitoring costs while increasing their market access.

Powerful Trading Platform

MAXEX’s proprietary trading platform features highly customizable pricing and pipeline management tools. The platform supports flexible execution strategies including flow, bulks, and forwards with options for both best efforts and mandatory delivery. MAXEX streamlines the transactional workflow and provides a user-friendly interface to facilitate condition clearing and settlement. 

Independent Loan Audits

MAXEX’s proprietary rule-based audit and review engine performs granular image classification, document inclusion checks, data extraction and validation, cross document data verification, and program product eligibility tests on each loan file to help catch manufacturing defects before transactions settle in the secondary market.

Independent Dispute Resolution & Backstop

Buyers and sellers agree to settle disputes through an independent arbitration process designed to expedite a fair resolution of any claim. Should a seller be unwilling or unable to repurchase a loan due to a validated rep and warrant violation, MAXEX provides a backstop mechanism that guarantees the seller’s repurchase obligations.

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The Big Picture

MAXEX’s standardized legal documents, independent loan audits, independent dispute resolution process, and backstop mechanism together enhance the value of mortgage assets that trade on the exchange and relieve exchange participants of many of the concerns they face today. Counterparty indifference allows for anonymous two-way trading on MAXEX, enabling all sellers to receive best execution pricing for their loans, regardless of their size, transaction volume, or perceived counterparty risk. By efficiently connecting the originator of the mortgage (the seller) directly with the end investor of the loan (the buyer), MAXEX further improves execution for both buyers and sellers.

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Less Complexity.
More Liquidity.