IRA Residential Whole Loans

MIAC Whole Loan Desk

August 23, 2017   /   Press Release

New York, NY –  Mortgage Industry Advisory Corporation (MIAC) is pleased to announce its placement of a portfolio of IRA residential whole loans. The loans are secured by investment properties and guaranteed by an individual’s IRA account. Given the complexities of this asset class, the sale is significant for demonstrating MIAC’s analytic capability and our ability to provide liquidity for niche whole loans.

The Seller is a private originator. Previously, the originator distributed IRA whole loans to international investors. This transaction illustrates an evolution of the secondary market for this asset class – significantly increasing liquidity. MIAC has been retained by the seller to secure flow investors for IRA loans with the following general characteristics:

  • Single Family
  • Non-Owner Occupied Houses
  • WAC 7.99%
  • WA FICO 736
  • WA DSC 1.79%
  • 20 Year Fixed Rate Debt
  • Servicing released or retained
  • Monthly delivery and tie out

Find out more

Learn more about MIAC Whole Loan Sales & Brokerage

Contact

For more information about this transaction and the opportunity for a flow investment,
contact your MIAC sales representative at (212) 233 – 1250

Steve Harris
Managing Director, MIAC Capital Markets
212-233-1250 x 212
Steve.Harris@miacanalytics.com

Brendan Teeley
SVP, Whole Loan Sales, Trading
212-233-1250 x 281
317-531-5297 Mobile
Brendan.Teeley@miacanalytics.com

About MIAC

For 28 years, Mortgage Industry Advisory Corporation (MIAC) has been the preferred destination for mortgage industry participants. In addition to providing whole loan brokerage services, MIAC offers third-party mortgage asset valuations, secondary market hedge advisory solutions, and state-of-the-art behavioral models.

MIAC Analytics™ is the most sophisticated mortgage pricing and risk management software suite available. The MIAC Analytics™ suite includes VeriFi™, DataRaptor®, DR-Surveillance™, MIAC Core™, and Vision™ to address FASB’s new Current Expected Credit Loss (“CECL”) requirements with the industries best modeling practices. VeriFi™ is used to support and manage the data quality auditing and review process. DR-Surveillance™ will measure a client’s collateral behavior including historical transition roll rates and Time_in_FCL exit curves; these client specific behaviors are integrated into MIAC Core™, our loan level credit loss model embedded in our Vision™ cash flow engine and balance sheet model.