GSAs™
Generic Servicing Assets
GSAs™ are MIAC’s daily pricing of representative benchmark mortgage servicing rights.
A Capital Markets View of MSRs
GSA attributes are aggregated from the actual underlying loan collateral at the product type, coupon, and vintage year cohort level. The loan collateral attributes and the MSR cash flow components of the GSAs change annually so that the daily price changes are attributable solely to market factors and not portfolio composition changes.
GSA Web Services and Download Capabilities
GSA Level One subscribers can access the daily GSA pricing through our authenticated client web portal. The GSA Product Level Index price history is also viewable and downloadable.
MSR Market Price Indexes
MIAC prices each of these GSA cohorts and aggregates the GSA level prices to the Product Level. The aggregate pricing of each Product Type is weighted by the current outstanding UPB for each GSA cohort, established annually.
nGSAs™
A competitive new production pricing grid that has been benchmarked across multiple pricing sources for a wide range of products.
- Loan attribute adjustments such as state, loan program, LTV, FICO, terms, and remittance information
- Excess servicing multiples for loans originated over the minimum base servicing fee
- Multiple servicing girds for GNMA execution of 44 bps, 31.5 bps, and 19 bps