Flatirons Capital Management – In The News
Flatirons’ Risk Management System Now Integrated With Resitrader’s Whole Loan Platform
Williamsburg, VA – October 24, 2016 – Flatirons Capital Management, LLC (FCM), a Williamsburg, Virginia-based secondary market service provider that helps residential mortgage companies hedge their portfolios against interest-rate risk has announced that their risk management system will be fully integrated with Resitrader’s mortgage loan trading platform, enabling clients to sell their loans through Resitrader’s platform while, at the same time, hedging their positions instantly.
The integration means clients of Flatirons can instantly offer their available loans for sale to investors bidding through Resitrader’s platform. The FlatIrons Rapid Execution (FIRE) Trading System, now powered by Resitrader, will be available to all clients of Flatirons, as well as those not using the firm, for hedging and secondary marketing services.
“With bulk packages becoming a more vital method of selling loans, it was important for us to either develop our own system or partner with someone that had the technology already,” said Brent Buckmaster, executive vice president and partner at FCM. “Resitrader not only offers that ability, it has a best-in-class system that fits perfectly with the direction we are moving at FCM. The tools provided by FIRE combined with the integration of Resitrader into our risk management system put us at the head of the class.”
Loan Hedging Company Deploys Best Execution Analysis Tool
Flatirons’ BEAST enables clients to select the best price for their loans from amongst their selected Investors
Williamsburg, VA – September 30, 2016 – Flatirons Capital Management, LLC (FCM), a Williamsburg, Virginia-based secondary market service provider that helps residential mortgage companies hedge their portfolios against interest-rate risk has announced their new Best Execution AnalysiS Tool (BEAST). This utility on their hedging platform queries each client’s loan investors to determine which investor is offering the best price for each of their loans. The resulting reports enable the client to choose which investor(s) to use and to maximize their profit on each loan.
“By using mortgage backed securities to hedge their loans, our clients are able to sell their loans for substantially higher prices than lenders who sell Best Efforts,” said Brent Buckmaster, designer of BEAST, and executive vice president and partner at FCM. “BEAST allows clients to sell their hedged loans for the best possible price based on the prices their approved investors are offering them, and through whichever medium and price indications each investor provides.
Additionally, BEAST allows us to report a client’s pipeline valuation each day based on actual investor prices.”
“We have been providing this service to clients for a few years now,” said Michael Francis, President of Flatirons. “When I joined Flatirons in 2013, I realized right away that we needed to provide this solution, and Brent was brought onboard soon afterward to begin work on the system. As an addition to our hedging services and FlatIrons Rapid Execution (FIRE) Trading System, BEAST completes our clients’ pricing options full-cycle from origination to sale. Along with the personalized way that we consult and advise each of our clients, these systems make Flatirons the best solution for mortgage companies looking for a full-service team to augment their secondary marketing department.”
Flatirons Capital Management, LLC Announces CEO Succession
Williamsburg, VA, August 10, 2016 — Flatirons Capital Management, LLC (FCM) a full secondary marketing service provider focused on maximizing the profitability of mortgage bankers, announced today that its members have elected President Michael Francis to succeed CEO John Ohman, and transition Mr. Ohman out of day to day operations to allow him to pursue development of hedging strategies for a variety of industries. Mr. Ohman is supporting Flatirons and its clients as he continues to transfer process and system knowledge to the Flatirons team.
“John has made significant contributions to FCM since forming the company in 1996,” said Mr. Francis. “His dedication and experience assisted more than one-hundred mortgage entities in maximizing revenue through enhanced secondary marketing capabilities.”
Executive Vice President, Brent Buckmaster, stated, “We know what our clients value most, and we remain committed to providing the same exceptional technologies and services that they’ve come to trust, with some additions that will increase their profitability and efficiency.”
During the past couple of years, Flatirons Capital Management has worked diligently to prepare for this change. “We are excited about the future of the company,” says Rob Wiseman, COO of Flatirons Capital Management. “The new management team has extensive experience in the mortgage lending, financial, and technology industries, and we are well positioned to resume our leadership in this arena.”