Citi has made an investment in Pylon, a provider of programmatic mortgage infrastructure, although the financial details of the deal have not been disclosed.
Founded in 2022, Pylon has developed a platform that facilitates programmatic originations and capital via enterprise-grade APIs. The company caters to a range of sectors, including wealth management, homebuilding, servicers, banks, and select lenders.
Along with the investment, Citi and Pylon are collaborating to integrate the liquidity from Citi’s mortgage trading desk directly into Pylon’s platform. This integration will enable Pylon’s customers to access Citi’s institutional-grade products and rates directly.
Trent Hedge, CEO of Pylon, remarked, “Our connectivity with Citi’s mortgage trading desk delivers the same unobstructed access to Wall Street that was previously only available to the largest market participants.”