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 — EPN allocations blotter

Round robin assignment screen in TBA Mortgage Master — No-touch round robin assignment

Outbound integration messages with status tracking — Outbound integration message tracking

EPN inbound message blotter color-coding settings — Exception-based EPN color coding

Pair-off processing and run job history — Automated pair-off processing

Email automation log for trade assignment agreements — Email automation & delivery log

Trade Assignment Agreement generated by TBA Mortgage Master — Auto-generated assignment agreements

Screenshots from TBA Mortgage Master in production.

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 ICE Mortgage Technology 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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The MBS Ops Network

One network where every counterparty connects.

The MBS Ops Network is a cloud-based ecosystem where all mortgage trading counterparties connect to a central network to process and communicate on the clearance and settlement of trade-for-trade TBA trades — automating the buy-side to sell-side clearance data flows while adhering to SIFMA guidelines.

Always

Pair-offs

Always performed, no cut-off.

72hr

Assignment of Trades

Optional, 72-hour day cut-off.

48hr

Round Robins

Optional, 48-hour day cut-off.