New York, NY (PRWEB) December 11, 2015
LTVtrade® announced today that the LTVtrade technology platform and other technology assets have been acquired by LTV Market, LLC a separate company partially owned by the Intercontinental Exchange, Inc. (ICE). The ICE is an American network of exchanges and clearing houses for financial and commodity markets.
“Great opportunities exist in the residential secondary market and we’re pleased that LTV Market will utilize LTVtrade’s state-of-the-art platform to advance the LTVtrade vision,” stated Dean DiCarlo, President and Founder of LTVtrade. “With the prospect of Fannie Mae and Freddie Mac exiting the housing market by 2017, we could see a boom in technology platforms and financial innovators entering the housing finance market and so LTV Market will be well positioned to capture some of that business.”
The value of the U.S. single-family market housing stock is $12.1 Trillion while mortgage debt outstanding in the market is approximately $9.4 Trillion.
Terms of the cash and equity sale were not disclosed. As a result of the transaction, LTVtrade will discontinue as an operating entity.
About LTVtrade: LTVtrade® was founded to alter the business of residential whole loan mortgage and residential REO trading through the LTVtrade Marketplace - an open, accessible, and transparent, secondary market platform which focuses on meeting the needs of the largest and smallest financial institutions, small local funds and savvy accredited investors.