MIAC’s Whole Loan Trading Desk reviews agency pricing trends, Treasury yield movements, and liquidity conditions across whole loan asset classes and provides an overview of key market insights.
Market Commentary
Agency pricing strengthened in February, with the UMBS 5.5 rising from 98.83 on January 31st to 100.09 by month-end, reflecting a 1.275% price improvement.
The 10-Year Treasury yield ended the month at approximately 4.208%, recovering 33 bps during February 2025 and reached its lowest level since early December. Over the past 90 days, new origination spreads appear to have tightened more significantly for Jumbo loans than Conforming products relative to the 10-Year Treasury.
MIAC’s Whole Loan Desk continues to observe strong demand and competitive pricing for less liquid mortgage portfolios, including Scratch & Dent, Non-Performing Loans, and recent vintage Non-QM portfolios.
Market Intelligence
MIAC seeks to drive the execution of whole loan transactions across a broad spectrum of asset types, leveraging decades of experience in trade execution and settlement. Each year, our team values several trillion dollars’ worth of whole loans, including EBO, Scratch & Dent, NPL, RPL, Non-QM, and CRE. Through our brokerage and valuation services, we gain insights into market trends and trade execution.
Individual Loan Pricing Report
Benchmark Rates
Loan Sales & Execution
We offer a marketing effort focused on engaging qualified counterparties for your trade. MIAC’s brokerage professionals work as a partner, assisting the seller through the auction process. We strive for a smooth transaction and best execution.
Highlighted Offerings
$20.7 Million Scratch and Dent
$10.7 Million Discounted Recreational Vehicle
$43.5 Million Non-Performing Mortgage
Contact
Steve Harris
Managing Director, MIAC Capital Markets
(908) 400-2615
Steve.Harris@miacanalytics.com
Nicholas Dorn
SVP, Whole Loan Sales, Trading
(561) 346-6814
Nicholas.Dorn@miacanalytics.com
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