Maxex, LLC, an Atlanta, GA-based residential mortgage loan exchange, closed a Series B funding round of undisclosed amount.
The round was led by AGNC Ventures, an affiliate of AGNC Investment Corp., an internally-managed mortgage real estate investment trust and an active investor in residential mortgage assets, with participation from Moore Asset Backed Fund and other repeat institutional and private investors.
With the AGNC investment, the company has raised over $90 million in capital to date.
Led by Thomas M. Pearce, Jr., Chairman & CEO, and Bill Decker, President, Maxex is a residential mortgage loan trading platform and exchange company that provides a solution for lenders to efficiently access many qualified buyers, which provides pricing stability and broad market access.
To date, the company has traded more than $3 billion of conforming and jumbo loans. Loans aggregated through its exchange have been securitized through 22 different private label mortgage backed securities transactions.
Premier buyers trading on the platform include Morgan Stanley, Goldman Sachs and Principal Bank as well as J.P. Morgan, who has been a strategic commercial partner since 2017. The company has a pipeline of over 20 marquee buyers including insurance companies, bank portfolios, REITs and Wall Street dealers in the process of joining the platform.