Mortgage Industry Advisory Corporation (MIAC) is pleased to announce the successful settlement of $61.4 million of Seasoned, GNMA Non-Performing Whole loans. The seller was a large non-bank originator with a national footprint. The seller received par, plus all advances, including interest. Investment Opportunity: Collateral Type: Insured, Non-Performing, GNMA −  FHA 72% −  VA 28% November… Read more »

Mortgage Industry Advisory Corporation (MIAC) is pleased to announce the successful settlement of $144 million of Seasoned, GNMA non-performing, Early Buy Out Sale. The seller was a large non-bank originator with a long relationship with MIAC. The loans were being sold on a 90/10 participation basis. Investment Opportunity: Collateral Type: 100% EBO November 2021 Settlement… Read more »

Mortgage Industry Advisory Corporation (MIAC) is pleased to announce the successful settlement of $95 million of Seasoned, GNMA Non-Performing Whole loans. The seller was a large non-bank originator with a national footprint. The loans were sold service released with the Seller receiving interest advances, corporate and escrow advances. Investment Opportunity: Collateral Type: Insured, Non-Performing, GNMA… Read more »

In this issue… Update on Market Rates and Prepayments Dick Kazarian, Managing Director, Borrower Analytics Group Year to date, primary rates have backed up 40 bps while secondary rates have increased 67 bps. This means that the primary/secondary spread narrowed by 26 bps. This primary/secondary (P/CC) spread is driven by numerous factors, including g-fees, servicing… Read more »

By Dick Kazarian, Managing Director, Borrower Analytics Group MIAC’s quarterly Perspectives will cover themes such as housing markets, mortgage rates and spreads, rates and volatility markets, residential originations and securitizations, credit and prepayments. Mortgage Rates and Spreads Figure 1 displays a snapshot of primary and secondary 30-year conventional mortgage rates since the start of the… Read more »

By Mike Carnes, Managing Director, MSR Valuations Group MSR Pricing YTD MIAC Generic Servicing Assets (GSAs™) have seen YTD price increases across all sectors, with a UPB-weighted increase of 30.7%. Across Conventional products, pricing increased substantially more for 30-year than for 15-year. This is due to (a) 30-year primary rates increasing by more than 15-year… Read more »

By Dick Kazarian, Managing Director, Borrower Analytics Group As we’ve discussed in previous reports and documents, our CORE™ multi-factor prepayment model incorporates all of the explanatory variables displayed in Figure 1. We handle additional explanatory variables as over-rides to this base model. These expanded variables include FICO score, channel, loan purpose, occupancy, property type, and… Read more »

Mortgage Industry Advisory Corporation (MIAC) is pleased to announce the successful settlement of $53.5 million of Seasoned, Performing, Credit Union loan participation. The seller was a large credit union with a North East US footprint. The loans were being sold on a 90/10 participation basis. Investment Opportunity: Collateral Type: 100% conventional October 2021 Settlement Average… Read more »

Bid Date: 10/26/2021    5:00 PM EST Mortgage Industry Advisory Corporation (MIAC), as exclusive representative for the Seller, is pleased to offer for your review and consideration a $535.64 million Fannie Mae and Freddie Mac mortgage servicing portfolio. The portfolio is being offered by a mortgage company that originates loans with a national distribution. The… Read more »

Mortgage Industry Advisory Corporation (MIAC) is pleased to announce the successful settlement of $217 million of Seasoned, GNMA Non-Performing Whole loans. The seller was a large non-bank originator with a national footprint. The Seller received all advances, including interest paid to the bond holders. Investment Opportunity: Collateral Type: Insured, Non-Performing, GNMA −  FHA 72% − … Read more »