MISMO to Facilitate Liquidity and Rapid Pricing for MBS Transactions by Standardizing Bid-Wanted in Competition (BWIC) Exchange

Mortgage Bankers Association

WASHINGTON, D.C. (November 29, 2021) - MISMO®, the real estate finance industry's standards organization, today announced that it is standardizing the bid-wanted in competition (BWIC) dataset format to facilitate accuracy, liquidity and rapid pricing for agency mortgage-backed securities (MBS) transactions.

More lenders are choosing MBS execution than ever before and are distributing BWICs, a formal request for bids on a package of securities, to securities dealer desks. Currently, the information transmitted to dealers is not standardized, and, as a result, dealers are having trouble keeping up with the increased volume of BWICs, which can lead to delays, lower pricing, and less participation in the BWIC than desired

The new MISMO development workgroup will create a standard dataset for MBS sellers to use to present BWIC data to securities dealer desks to improve data quality, accuracy, timeliness and pricing of related BWIC transactions going forward... Read More Here!