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…
CORE Insights: A Closer Look at the Impact of Occupancy
Dick Kazarian, Managing Director, Borrower Analytics Group
The FHFA has announced significant changes to the LLPAs for Second Homes effective April 1, 2022. In this article, we take a closer look at the impact of Occupancy type within our CORE™ Agency model, with a focus on Second Homes. Read more…
Residential MSR Market Update – Q4 2021
Mike Carnes, Managing Director, MSR Valuations Group
MSR prices continued their upward climb in Q4 2021. MIAC’s Generic Servicing Assets (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 than for 15-year, in both absolute (0.79 multiple), as well as relative (27.2%) magnitude. This is due to (a) 30-year primary rates increasing substantially more than 15-year primary rates, and (b) the higher (i.e., less negative) 15-year OADs at the start of 2021. Read more…
Whole Loan Market Update – Q4 2021
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. Read more…
View Previous MIAC Perspectives: Fall 2021 Issue
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