MIAC Perspectives – Spring 2022

Posted in MIAC Publications, Perspectives, Recent News.

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 »

Lifetime Mortgage in Vision™

Posted in MIAC Publications, Perspectives.

By Dr. Darrel Welch, Managing Director, MIAC Analytics Ltd. Introduction Lifetime mortgage (LTM) is one of the latest asset classes to be implemented in Vision™, MIAC’s advanced ALM system. UK’s lifetime mortgage sector saw a borrowing boom in 2021, with annual lending growth year-on-year from £3.86 to £4.8 billion (24%). So far in 2022, this… Read more »

MSR Market Update – Q1 2022

Posted in MIAC Publications, MSR Market Updates, Perspectives.

By Mike Carnes, Managing Director, MSR Valuations Group MSR Pricing MSR prices continued their dramatic ascent in Q1 2022. As displayed in Figure 1, MIAC Generic Servicing Assets (GSAs™) experienced first quarter price increases across all four sectors and both vintages, with a UPB-weighted Q-on-Q increase of 0.97 multiple (or 24.9%). Within Conventional products, pricing… Read more »

CORE Insights: A Deep Dive into our Agency Credit Model and the Impact of COVID-19

Posted in MIAC Publications, Perspectives.

By Dick Kazarian, Managing Director, Borrower Analytics Group This article takes a closer look at some key features of our updated Agency Credit Model within our CORE™ Model Suite. Also highlighted are unique behaviors that occurred during the COVID period. Framework Figure 1 shows the transition model framework used by the latest version of our… Read more »

Market Overview

Posted in MIAC Publications, Perspectives.

By Dick Kazarian, Managing Director, Borrower Analytics Group Each issue of our Quarterly Perspectives consists of several articles covering different topics of interest to mortgage market participants. This article reviews 1) Mortgage Rates and Spreads, 2) Prepayment Changes from our MIMs Survey, and 3) Extension Risk Concerns. 30-Year Mortgage Rates and Spreads Figure 1 displays… Read more »

Market Overview

Posted in MIAC Publications, Perspectives.

By 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. Subsequent articles provide a deep dive into our CORE™ family of models, the MSR market, and the whole loan market. In this first… Read more »

Residential MSR Market Update – Q4 2021

Posted in MIAC Publications, Perspectives.

By Mike Carnes, Managing Director, MSR Valuations Group MSR Pricing MSR prices continued their upward climb in Q4 2021. As displayed in Figure 1, MIAC Generic Servicing Assets (hereafter, GSAs™) have seen YTD price increases across all sectors and vintages, with a UPB-weighted increase of 34.4%. Across Conventional products, pricing increased substantially more for 30-year… Read more »

Whole Loan Market Update – Q4 2021

Posted in MIAC Publications, Perspectives.

By Brendan Teeley, Senior Vice President, Capital Markets Group This article reviews recent developments and their impact on seasoned whole loan markets. MIAC regularly represents buyers and sellers across a broad range of market segments. In this article, we focus on the following: CRA, EBOs Fix-and-Flip, Puerto Rico, and Scratch and Dent. CRA – Community… Read more »

MIAC Perspectives – Winter 2022

Posted in MIAC Publications, Perspectives, Recent News.

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, MIMs Contributor Dispersion, and Policy News. Read more…… Read more »