NEW YORK, Sept. 30, 2019 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader and part of the S&P 500® Index, today announced the launch of a new centralized Trade Assignment Portal (TAP) that will allow mortgage originators and broker-dealers to transform the execution of Mortgage-Backed Securities (MBS) Trade Assignments. TAP is a web-based platform, maximizing operational efficiency through a well-managed workflow to facilitate the initiation, review, acceptance, e-signatures, status tracking, archival, and straight-through execution of MBS Trade Assignments. Several originators, including Freedom Mortgage, and Tier 1 broker-dealers are completing user acceptance testing in preparation for going live on TAP. Once live, these firms can expect an improvement in efficiency while eliminating errors in the execution of MBS Trade Assignments.

"As one of the pioneering mortgage originators, we look forward to working with Broadridge on the newly launched, centralized Trade Assignment Portal," said Stanley C. Middleman, President and CEO of Freedom Mortgage. "Leveraging Broadridge's network and scale, the platform will also allow us to minimize the time spent on manual trade assignments and better focus on core business functions."

"Broadridge is committed to introducing technology innovations that help our clients further eliminate operational inefficiencies and grow their businesses. TAP is an example of such an innovative platform that streamlines industry workflows across MBS participants," said Vijay Mayadas, president of Global Fixed Income and Analytics, Broadridge. "We are excited to work with broker-dealers and mortgage originators, enabling them to grow as we leverage our network value to help clients get ahead of today's challenges and capitalize on tomorrow's opportunities."

Throughout the capital markets industry, the current process of handling MBS Trade Assignments from originators is largely manual, resource-intensive and prone to error. TAP enables originators and broker-dealers to electronically send and receive trade assignments, allowing firms to process MBS Trade Assignments at a substantially faster rate. TAP's transparent workflow also allows firms to know assignment statuses at all times – a necessity not easily available in the manual process. Given the industry's keen interest in solving for the manual process of trade assignments, Broadridge will utilize its network of clients and role as a trusted Fintech partner to create this new marketplace solution that is being embraced by several leading originators and broker-dealers.

About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR), a $4 billion global Fintech leader and a part of the S&P 500® Index, is a leading provider of investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers. With over 50 years of experience, including more than 10 years as an independent public company, Broadridge provides an important infrastructure that powers the financial services industry. Broadridge's infrastructure underpins proxy voting services for over 50 percent of public companies and mutual funds globally, and processes on average more than U.S. $7 trillion in fixed income and equity trades per day of securities. Broadridge employs over 11,000 full-time associates in 18 countries. For more information about Broadridge, please visit www.broadridge.com.

Investors:

W. Edings Thibault
Head of Investor Relations
+1 516-472-5129
[email protected]

Media:

Tina Wadhwa                                     
Broadridge Financial Solutions
+1 212-973-6164                   
[email protected]

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SOURCE Broadridge Financial Solutions, Inc.