Residential MSR Market Update – April 2019

Posted in MSR Market Updates.

Month-over-Month From end-of-month March to end-of-month April, the MIAC Generic Servicing Assets, (GSAs™) Conv_30 Index increased by 0.40% and the GNII_FHA_30 index increased by 0.51%. In larger GSA cohorts, which are actively traded in the MSR market, the Conv30_3.5_2016 increased by 0.38% and the GNII_FHA30_3.5_2016 cohort increased by 0.82%. During the month of April, Conv_30… Read more »

Residential MSR Market Update – March 2019

Posted in MSR Market Updates.

Month-over-Month From end-of-month February to end-of-month March, the MIAC Generic Servicing Assets, (GSAs™) Conv_30 Index decreased by 7.26% and the GNII_FHA_30 index decreased by 7.53%. In larger GSA cohorts, which are actively traded in the MSR market, the Conv30_3.5_2016 decreased by 8.20% and the GNII_FHA30_3.5_2016 cohort decreased by 4.60%. Option-adjusted spread (OAS) measures the spread… Read more »

Residential MSR Market Update – February 2019

Posted in MSR Market Updates.

Month-over-Month From end-of-month January to end-of-month February, the MIAC Generic Servicing Assets, (GSAs™) Conv_30 Index increased by 0.60% and the GNII_FHA_30 index increased by 0.35%. In larger GSA cohorts, which are actively traded in the MSR market, the Conv30_3.5_2016 and increased by 0.72% and the GNII_FHA30_3.5_2016 cohort decreased by 0.07%. During the month of February,… Read more »

Residential MSR Market Update – January 2019

Posted in MSR Market Updates.

Month-Over-Month From end-of-month December to end-of-month January, the MIAC Generic Servicing Assets, (GSAs™) Conv_30 Index decreased by 2.64% and the GNII_FHA_30 index decreased by 2.51%. In larger GSA cohorts, which are actively traded in the MSR market, the Conv30_3.5_2016 and GNII_FHA30_3.5_2016 cohorts respectively decreased by 4.07% and 1.43%. During the month of January, Conv_30 Index… Read more »

Residential MSR Market Update – December 2018

Posted in MSR Market Updates.

Year-Over-Year To name a few, in 2018 we witnessed crashing equity prices, declining bond prices, and saw prepayment activity hit a 10-year low. We also watched the devastation unfold due to natural disasters including hurricanes Florence and Michael in the East, and mudslides and wildfires in the West. For the cherry on top, on December… Read more »

Residential MSR Market Update – November 2018

Posted in MSR Market Updates.

Month-over-Month From end-of-month October to end-of-month November, the MIAC Generic Servicing Assets, (GSAs™) Conv_30 Index decreased by 1.78% and the GNII_FHA_30 index decreased by 2.64%. In larger GSA cohorts, which are actively traded in the MSR market, the Conv30_3.5_2016 and GNII_FHA30_3.5_2016 cohorts respectively decreased by 1.98% and 2.65%. During the month of November, Conv_30 Index… Read more »

Residential MSR Market Update – October 2018

Posted in MSR Market Updates.

Month-over-Month From end-of-month September to end-of-month October, the MIAC Generic Servicing Assets, (GSAs™) Conv_30 Index increased by 3.16% and the GNII_FHA_30 index increased by 2.99%. In larger GSA cohorts, which are actively traded in the MSR market, the Conv30_3.5_2016 and GNII_FHA30_3.5_2016 cohorts respectively increased by 3.61% and 3.17%. During the month of October, Conv_30 Index… Read more »

Residential MSR Market Update – September 2018

Posted in MSR Market Updates.

Month-over-Month From end-of-month July to end-of-month August, the MIAC Generic Servicing Assets, (GSAs™) Conv_30 Index decreased by 0.86% and the GNII_FHA_30 index decreased by 1.62%. In larger GSA cohorts, which are actively traded in the MSR market, the Conv30_3.5_2016 and GNII_FHA30_3.5_2016 cohorts respectively decreased by 1.45% and 1.47%. During the month of August, Conv_30 Index… Read more »

Residential MSR Market Update – August 2018

Posted in MSR Market Updates.

Executive Summary When accounting for MSR’s, “fair value” compliance with the FASB’s ASC 820 standard is the objective. Because MIAC’s Generic Servicing Assets (GSAs™) track fair value at a granular level, MIAC can utilize bulk package transaction pricing information to better inform MIAC’s price discovery process. Given the current number of observed trades and depending… Read more »

Residential MSR Market Update – July 2018

Posted in MSR Market Updates.

Over the last month, the MIAC Generic Servicing Assets (GSAs™) Conv_30 Index increased by 1.61% and the GNII_FHA_30 index increased by 0.52%. Conversely, and in observance of benchmark trades, VA assets were down slightly less than 2%. The decline is a reflection of higher potential losses on stressed and/or lower credit VA and VA IRRL… Read more »