The most comprehensive Agency MBS settlement system in the market.

Ease-of-use tools for manual and fully automated processing of every TBA clearance and settlement workflow — straight pair-offs, SIFMA trade assignments, Tradeweb round robins, and FICC EPN pool allocations — with real-time pool data validation behind every step.

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Inside the platform

Run it no-touch. Step in by exception.

Set your clearance flows up once. TBA Mortgage Master runs them, surfaces only the exceptions, and keeps every counterparty on one source of truth.

✓AOT digital assignments — the first and only vendor system with Assignment-of-Trade automation.
✓No-touch round robins — real-time Tradeweb processing, block-level messaging.
✓Validated EPN allocations — SIFMA rules checked against the full pool universe.
✓Exception-based color coding — work the breaks, not the queue.
✓Custom templates — standardize ops; proactive email alerts on every run.
✓Megas & non-TBA-eligible — handled with the same workflow.

TBA Mortgage Master — clearance blotter

CUSIP	Workflow	Counterparty	Status
31418C·UMBS 5.5	EPN allocation	Dealer A	auto
3132D·UMBS 6.0	Round robin	Tradeweb	auto
31418D·UMBS 5.0	Pair-off	Dealer B	cleared
3138E·GNMA 5.5	Assignment · AOT	Dealer C	auto
3132A·UMBS 4.5	EPN allocation	Dealer A	exception
31417·UMBS 6.5	Settlement report	Custodian X	sent

Illustrative interface — replace with real product screenshots before launch.

Differentiators

Why specialists choose it over a general-purpose module.

FICC-approved EPN vendor

A higher degree of sophistication than legacy systems when moving pools — validated against the agency pool universe.

Real-time pool data

Factors from Black Knight / eMBS validate EPN allocations and any TBA stipulations that scope delivery.

Built by MBS operators

Founded in 2006 by partners from investment management, clearance & settlement, and software.

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Pricing

Priced per transaction — costs track what you actually clear.

Per-transaction[VERIFY]

No seat licenses, no big up-front platform fee. Pricing scales with the volume you clear, so smaller desks aren't subsidizing larger ones.

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Scales both ways

From under 100 trades a month to over 500,000 — the same platform and the same economics, sized to your book.

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Proposal on your volumes

Share your approximate monthly trade count or notional and we'll come back with a concrete proposal and an implementation plan.

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