In This Issue
Unemployment has reached the highest level in 26 years with no immediate end in sight. Most of us are still looking for the bottom of the residential mortgage market while questions concerning the health of the commercial mortgage industry abound. We at MIAC have surveyed the economic landscape and can report that market hazards still obscure the horizon for the foreseeable future. As a result, this issue is dedicated to helping you safely navigate your path to more secure footing.
In this issue, we’ve taken a hard look at current commercial real estate fundamentals and share with you our concerns and outlook. In his article Commercial Real Estate - Markets In Turmoil , Dean Hurley, SVP, Capital Markets, provides us with a bird’s eye view of the forming storm. Separately, but equally revealing, Rob Lee, SVP of Capital Markets, provides current single family MSR valuation intelligence based on what we’re seeing in current portfolios, with a focus on prepayment speeds, delinquencies and what lies ahead in his MSR Valuation Update.
For those of you wanting to keep track of the rising tide of economic reforms, we’ve put together a primer for evolving financial programs. As the administration comes to terms with the current economic crisis, it’s become challenging to track which program addresses which economic malady and how it impacts each of us Washington Landscape: The ABCs of Financial Recovery summarizes the key government programs established so far and their market impact to our clients.
Understanding these reforms, we’ve created a solution for mortgage servicers seeking assistance in managing servicing portfolios to accommodate the new loan modification program. In her article To Modify or Not To Modify , Lisa Malie, SVP, Capital Markets, explains the Home Affordable Modification Program (“HAMP”), what it is, how it works, and how MIAC’s recently enhanced software tools help you manage this new brand of loan modification.
For those of you wrestling with whether now is the time to bring your assets to market, Rob Fear, Senior Vice President, Client Solutions, provides pointers in selecting a broker to assist you with this complex process in his article “Selling Assets? Don’t Go It Alone.”
Finally, Doug Mayers, Vice President, Client Solutions, takes a close look at retained vs. released execution options in today’s market and the many points of consideration critical to determining whether to sell servicing released or retained.
Our goal at MIAC is to be as informative as possible and to assist you in staying not just viable, but profitable in today’s challenging market. We trust you’ll find our latest issue of Perspectives helpful, and we welcome your feedback and suggestions for future issues.
Perspectives Editor,
David McCraw
Download Perspectives in PDF.