Bid Date: 7/27/2017 5:00 PM EST Mortgage Industry Advisory Corporation (MIAC), as the exclusive representative for the Seller, is pleased to offer for your review and consideration a $616 Million GNMA mortgage servicing portfolio. The portfolio is being offered by a mortgage company that originates loans with a Texas concentration. The Seller will be providing full… Read more »
July 18, 2017 / Press Release New York, NY – MIAC Analytics (MIAC), the leading secondary solutions provider and pipeline risk management firm, announces a new integration with Fannie Mae’s Pricing and Execution Whole LoanTM platform for mandatory cash commitments with its MarketShield® trading platform. Long a leader in providing creative, secondary market solutions, this… Posted in Recent News.
MIAC Whole Loan Desk July 13, 2017 / Press Release New York, NY – Mortgage Industry Advisory Corporation (MIAC) is pleased to announce that its whole loan desk, completed the sale of approximately $52mm of seasoned, first lien HELOCs. The sale consisted of both performing and non-performing mortgages. The seller is a large bank and… Read more »
Bid Date: 6/28/2017 5:00 PM EST Due to the failure of Guaranty Bank (the “Bank”), and the appointment of the Federal Deposit Insurance Corporation as receiver for the Bank (the “FDIC”), the FDIC is proposing to enter into a competitive auction with respect to certain Mortgage Servicing Rights (the “MSRs”) related to Ginnie Mae (“Agency”) pools… Read more »
FASB Issues New Guidance on Accounting for Credit Losses – The news release provides information on the new ASU, along with a video of why a new credit losses standard. (6/16) Click here to view FASB News Release Click here to view the video Source: FASB Financial Accounting Standards Board
FASB’s Overview of the New Standard – This overview outlines important information on the new guidance regarding expected credit losses, effective dates, and additional information, provided by FASB. Click here to view FASB’s Overview Click here to download the PDF Source: FASB Financial Accounting Standards Board
OCC’s (BAAS) Allowance for Loan and Lease Losses — The BAAS expresses the OCC’s views on accounting with regards to the new ASU. ( 6/12) Click here to view BAAS’s Update Click here to download the PDF Source: OCC Office of the Comptroller of the Currency
Receivables (Topic 310) – The main objective in this ASU is to provide greater transparency about an entity’s allowance for credit losses and the credit quality of its financing receivables. ( 7/10) Click here to view FASB’s Overview Click here to download the PDF Source: FASB Financial Accounting Standards Board
OCC’s Allowance for Loan and Lease Losses — The OCC discusses the necessity for banks to be required an ALLL. (1998) Click here to view OCC’s Handbook Click here to download the PDF Source: OCC Office of the Comptroller of the Currency
ASU: Credit Losses (Topic 326) – This overviews the expected benefits and anticipated costs of the new credit losses standard. Click here to view FASB’s Overview Click here to download the PDF Source: FASB Financial Accounting Standards Board