MIAC Named Leading Pricing Service by The Bond Market Association and the American Securitization Forum
NEW YORK, November 27, 2006—Mortgage Industry
Advisory Corporation (MIAC), New York, has been identified in “An
Analysis and Description of Pricing and Information Sources in the
Securitized and Structured Finance Markets” as a leading provider
of Secondary and Residual Pricing in the Securitized and Structured
Finance markets. The Bond Market Association's MBS and Securitized
Products Division and the American Securitization Forum jointly
undertook a research project to understand and describe pricing
and information sources and offer insights and observations of a
general nature into the price discovery and valuation process. The
128-page study covered the entire range of structured and securitized
product sectors. A copy is available online at
www.MIACAnalytics.com.
MIAC was founded in 1989 by Wall Street veterans
Bob Husted and Paul Van Valkenburg to provide whole loan and MSR
hedge advisory and valuation services to the mortgage industry.
Since then, the company’s services have evolved to include
Valuation, Accounting and Risk Management Services, Secondary Solutions
and Strategic Asset Sales for nearly all mortgage asset classes.
“MIAC is pleased to be identified as a leading
pricing source for mortgage assets by the industry leading trade
associations.” said MIAC Principal’s Van Valkenburg.
“In fact, we now have large number of clients using our software,
brokerage and advisory services for secondary solutions, residual
interest valuation and risk management and in all areas of the mortgage
company balance sheet.”
Nestled in the New York City’s financial
district, MIAC serves as a fully SOX compliant fair market third-party
pricing service for 150 financial institutions across the country.
Over the past few years, company executives have witnessed the industry
adapt to more complicated GAAP financial reporting requirements.
As the firm developed new analytical tools to meets its customers’
changing needs, MIAC found its business base growing.
Today, MIAC offers best execution pricing and risk
management for new loan originations, particularly Alt-A and subprime
products, valuations of illiquid CMO securities and residuals, FAS
155, 156 and 140 implementation solutions, complex interest rate
derivative pricing utilizing an industry leading 3-Factor HJM Libor
Market Model term structure model and complex retrospective and
prospective attribution analysis utilizing distributed processing
computing solutions.
The company’s software products include WinOAS™,
the industry standard MSR and whole loan pricing tool; the MarketShield™ secondary risk management solution; DataRaptor™ loan level auditing, viewing, pooling and reporting software; and
MIAC-ALM/VAST™ the most advanced
mortgage bank asset/liability model in the industry. MIAC remains
an industry leading hedging advisory firm and is often called upon
to broker sales of many types of mortgage asset.
“We’re in a rather unique position
in the industry now,” said Van Valkenburg. “Because
of the analytical tools we’ve developed—and that our
Capital Markets group uses these tools every day—we’re
the only company that can provide this broad scope of mortgage pricing
and risk management solutions.”
About Mortgage Industry Advisory Company (MIAC)
Founded in 1989, MIAC has been at the forefront of providing the
most sophisticated portfolio and risk management solutions to the
mortgage industry for all types of mortgage assets. Its clients
include 9 of the top 10 mortgage servicers and over 150 other financial
services industry firms, including banks, thrifts, credit unions,
FHLBs and Wall Street dealers. The company’s proprietary software
is used in pricing, hedging and accounting for over $4 trillion
in mortgage assets each month. MIAC is a registered SEC Investment
Advisor. For more information, visit
www.MIACAnalytics.com.
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Bob Husted
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Paul Van Valkenburg
|
www.MIACAnalytics.com
80 Maiden Lane
14th Floor, Suite 1401
New York, NY 10038
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