MAX Exchange Stock

MAX is an exchange and clearing house for the purchase and sale of residential mortgage loans. The MAX Exchange connects qualified buyers and sellers of mortgage loans by providing standardized rules and regulations, independent loan reviews, ongoing loan and servicing surveillance, and a dispute resolution process. Both buyers and sellers agree to be governed by the Exchange Rules which include standardized loan product guidelines and loan sale terms, including a common set of representations and warranties and a pre-settlement review of the loan by MAX. This independent loan review aims to protect both the seller and buyer, and decrease the risk of a defective loan entering the secondary mortgage market. Additionally, all Exchange Participants agree to settle disputes through MAX’s internally administered Dispute Resolution Process – an independent arbitration process designed to expedite a resolution of any claim, discourage frivolous claims, and provide an alternative to protracted litigation and arbitration proceedings.