MAXEX Exceeds $13 Billion in Non-Agency Lock Trading Volume

Rapidly growing mortgage exchange more than doubles non-agency volume in first 11 calendar months of 2020 despite the ongoing COVID-19 pandemic

MAXEX today announced that lock trading volume in non-agency mortgages on its digital exchange has exceeded $13 billion, more than double its total volume over the previous three years.

MAXEX, which was launched in 2016, has become a preferred liquidity provider for a growing number of bank and non-bank mortgage lenders and a source of quality loans for many of the industry’s leading institutional investors. To date more than 150 lenders and 19 of the industry’s most active investors have been approved to buy and sell loans with MAXEX. The company announced that it had exceeded $5 billion in lock trading volume at the end of 2019. It more than doubled its jumbo loan volumes in the first 11 months of 2020 despite a significant shortfall in non-agency market liquidity that resulted from the COVID-19 pandemic.

“MAXEX has seen rapidly-increasing adoption as more and more originators realize the value of readily-available liquidity, competitive pricing and better execution that our marketplace provides,” said Tom Pearce, Chairman and CEO of MAXEX. “This value was heightened in the second quarter, when MAXEX was one of the only non-agency liquidity providers to remain in the market despite the severe disruption as a result of COVID-19. We are now beginning to see the exponential effect of lenders and investors working together to enable a more efficient, liquid and transparent marketplace for the industry.”

MAXEX had trading lock volume in non-agency mortgages of more than $4.5 billion in the last 3 months alone versus $2.7 billion in all of 2019 and has quickly become one of the industry’s leading aggregators of jumbo loans. Meanwhile, the company continues to expand its portfolio of offerings to include a broad range of jumbo, conforming and non-QM programs. In total, loans sold through MAXEX have been included in more than 55 private label mortgage securitizations to date.

MAXEX continues to grow its breadth of loan programs and plans to expand into the agency market in 2021. The company was recently approved as a direct seller to Fannie Mae and Freddie Mac.

“MAXEX strives to deliver value for our customers as we continue to grow and scale our business,” said Bill Decker, President of MAXEX. “Lenders who once viewed us as just a jumbo takeout for loans will now be able to utilize us across a wider range of programs.”

MAXEX launched in 2016 via a commercial partnership with J.P. Morgan to simplify the complex process of trading residential loans in the $10+ trillion secondary mortgage market. In addition to reaching $13 billion in aggregate non-agency trading lock volume in 2020, MAXEX:

  • Onboarded 70 new sellers, including several leading bank and non-bank mortgage lenders
  • Launched a strategic partnership and technology integration with Ellie Mae
  • Introduced MAXEX Bulk Trading Services and executed multiple transactions exceeding $1 billion for a Top 25 U.S. bank
  • Launched its Jumbo Express program which dramatically reduces the time and complexity of manually underwritten loans by leveraging Freddie Mac and Fannie Mae’s AUS engines
  • Received the Finovate Award for Best Back-Office / Core-Service Provider
  • Received several industry recognitions for its senior leadership, including recognition for CEO Tom Pearce as a HousingWire Vanguard
  • Was named a Top 40 Most Innovative Technology Company by the Technology Association of Georgia

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