In Volatile Times of Transition, the MSR Market Seeks to Help Safeguard Shareholder Value and Unlock its Potential We believe that the current landscape of the mortgage servicing rights (MSR) market reflects a dynamic interplay of volatility, risk, and opportunity. In this evolving environment, hedging can play a critical role in navigating risks while unlocking… Read more »
MIAC Publications
Streamlining GNMA SFPDM Deliveries: Choosing Between Licensing and Full-Service
In the ever-evolving world of mortgage delivery systems, efficiency and accuracy are paramount. For organizations selling loans to Ginnie Mae (GNMA), the Single Family Pool Delivery Module (SFPDM) delivery process can be challenging. Fortunately, MIAC’s Mortgage Delivery Specialists (MDS) offer two distinct solutions to help streamline this process: Licensing the DataRaptor® SFPDM™ software or opting… Read more »
Q&A with Mortgage Industry Veteran Paul Van Valkenburg
By Eric Leininger, CME Group At a Glance: • Mortgage-backed securities issuance has dropped to historic lows as borrowing rates have increased • New TBA futures aimed at mitigating MBS market risk are seeing increased trading volume Read the article and listen to the full conversation on CME Group’s OpenMarkets In an environment… Read more »
CORE Insights: Are FHA Purchase Loans a Lurking Credit Risk?
By Dick Kazarian, Managing Director, Borrower Analytics Group This article takes a closer look at the credit risk of FHA purchase loans within our CORE™ Residential Model Suite. We cover the following topics: • Core Model Framework • The Importance of a Competing Risk Framework • Segmentations within the Government-insured sector • … Read more »
Market Overview
By Dick Kazarian, Managing Director, Borrower Analytics Group Each issue of our Quarterly Perspectives consists of articles that cover topics of interest to mortgage market participants. This article reviews the following topics: • Mortgage Rates and Spreads • Update on the PMMS Survey • Prepayment changes from our MIMs Survey • … Read more »
MIAC Perspectives – Fall 2022
In this issue… Market Overview Dick Kazarian, Managing Director, Borrower Analytics Group This Market Overview provides an overview of rates, prepayments, credit, housing markets, and other topics of broad interest to mortgage market participants. Topics include: Mortgage Rates and Spreads, Prepayment changes from our MIMs Survey, and an update on the PMMS Survey. Read more… CORE… Read more »
MSR Market Update – Q3 2022
By Mike Carnes, Managing Director, MSR Valuations Group MSR Price Changes (YTD 2022) As displayed in Figure 1, MIAC Generic Servicing Assets™ (GSAs) have experienced significant YTD 2022 price increases across all four sectors and both vintages, with a UPB-weighted increase of 1.17 multiple (or 30.0%). Within Conventional products, pricing increased substantially more for 30-year… Read more »
Whole Loan Market Update – Q3 2022
By Nicholas Dorn, SVP, Whole Loan Sales, Trading The overarching themes in the whole loan market are much higher rates, wider spreads, inflation, stagnating or declining home prices, and declines in existing home sales. We provide an overview and analysis of these data in the Market Overview article in this issue of MIAC Perspectives. Scratch… Read more »
Lock Tracker
By Dick Kazarian, Managing Director, Borrower Analytics Group In this issue of MIAC Perspectives, we introduce our Lock Tracker™. We introduce this Lock Tracker to help market participants follow origination trends considering the unprecedented market volatility in rates and volume that we have experienced since the start of 2022. Our data consists of applications processed… Read more »
MIAC Perspectives – Spring 2022
In this issue… Market Overview Dick Kazarian, Managing Director, Borrower Analytics Group This Market Overview provides an overview of rates, prepayments, credit, housing markets, policy updates, and other topics of broad interest to mortgage market participants. Topics include: Mortgage Rates and Spreads, Prepayment changes from our MIMs Survey, Extension Risk Concerns. Read more… CORE Insights: A… Read more »