Whether you run 100 trades a month or 500,000+, one account per block or 250+, TBA Mortgage Master takes your MBS middle and back office from human-capital-intensive to fully automated.
Allocations, substitutions, and good-delivery checks grow with every account in a block.
The work lands on the same small team no matter how fast volume grows.
Hand-keyed EPN allocations against stale pool factors are where fails begin.
A round robin and an assignment reach the same net position. They do not cost the same. A round robin settles on two wires, leaves a balance against both dealers to settlement date, and books two market trades that portfolio accounting, custody and the client's statement all have to carry. An assignment closes one dealer out entirely and settles on one.
On a round robin the gross wire movement is always larger than the gain or loss on the original TBA trades. More money moving for the same result.
Two live balances means two positions to mark and two sets of collateral movements. Closing one dealer out removes that relationship from the margin picture entirely.
Wire fees and transaction costs never appear in performance attribution, but they are charged to the underlying account and they do affect returns.
Buy-side activity flows automatically to dealers’ books. You see and manage every trade and clearance flow — and step in only by exception.
| Workflow | Manual | With AFS |
|---|---|---|
| EPN allocations | Keyed by hand | Auto + validated |
| Round robins | Manual entry | No-touch |
| Assignments | Manual | AOT automated |
| Pool validation | Spot-checked | Every notification |
| Ops headcount | Scales with volume | Flat |
Clients range from under 100 to over 500,000 trades a month.
From one account per block to more than 250.
The first and only vendor system to automate Assignment-of-Trade.
The first and only vendor system with AOT automation.
Create custom user projects and templates to standardize operations.
No-touch processing with account allocation revisions.
Users see and manage all trade and clearance flows.
Set up your firm's TBA clearance flows once and let the system do the work.
Proactive email notifications whenever automation runs.
Exception-based EPN messages are color-coded to aid user prioritization.
Run ad-hoc reports and send them directly from TBA Mortgage Master.
See it on workflows that look like yours.
