Residential MSR Market Update – April 2018

Posted in MSR Market Updates, Recent News.

Over the last month, the MIAC GSAs™ (Generic Servicing Asset) Conv_30 Index decreased by 1.02% and the GNII_FHA_30 index decreased by 2.47%.  In larger GSA cohorts which are actively traded in the MSR market, the Conv30_3.5_2016 cohort decreased by 1.51% and the GNII_FHA30_3.5_2016 cohort decreased by 2.21%. The good news is that the March hiccup… Read more »

Residential MSR Market Update – March 2018

Posted in MSR Market Updates, Recent News.

From 1/31/2018 to 2/28/2018, the MIAC GSAs™ Conv_30 Index increased by 2.90% and the GNII_FHA_30 index increased by 4.44%. In larger GSA cohorts, which are actively traded in the MSR market, the Conv30_3.5_2016 cohort increased by 3.16% and GNII_FHA30_3.5_2016 cohort increased by 3.59%. Increasingly, we are seeing CPR’s on Conv30 3.0% coupons leveling off and… Read more »

Residential MSR Market Update – February 2018

Posted in MSR Market Updates, Recent News.

From 12/29/2017 to 1/31/2018, the MIAC GSAs™ Conv_30 Index increased by 6.05% and the GNII_FHA_30 index increased by a whopping 15.46%. In larger GSA cohorts, which are actively traded in the MSR market, the Conv30_3.0_2016 cohort increased by 4.15% and GNII_FHA30_3.0_2016 cohort increased by 9.61%. It has been years since any of us have had… Read more »

Residential MSR Market Update – January 2018

Posted in MSR Market Updates, Recent News.

For the Q417, the MIAC GSA Conv_30 Index increased by 7.56% and GNII_FHA_30 index increased by 6.72%.  During Dec 17, the GSA Conv_30 was up modestly 0.6% and GNII_FHA_30 up 0.64%.   In larger GSA cohorts, which are actively traded in the MSR market, the Conv30_3.0_2016 increased by 5.34% and GNII_FHA_30 3.52%.   Part of the price… Read more »

Residential MSR Market Update – November 2017

Posted in MSR Market Updates, Perspectives.

As measured by Bankrate, month-over-month primary market 30-Yr conventional mortgage rates increased by three basis points to end the month of October at 3.83%. Quarter-over-quarter, 30-Yr conventional rates experienced a slight two basis point decline. While this amount of month-over-month mortgage rate movement may produce only a minimal upward shift in value, there was also… Read more »

Residential MSR Market Update – September 2017

Posted in MSR Market Updates.

Based on the changes to key market indices, month-over-month MIAC’s Conventional 30-YR GSA Index declined by 3 basis points, but there was considerable price volatility along the way. In the last week of August, MSR’s rallied to recover nearly all the earlier losses. Some of the rally was attributable to national mortgage delinquency rates being… Read more »

What is a Mortgage Servicing Right (MSR)?

Posted in MSR Market Updates, Perspectives.

    By definition a Mortgage Servicing Right, herein referred to as MSR(s), is a contractual agreement where the right, or rights, to service an existing mortgage are sold by the original lender to another party who, for a fee, performs the various functions required to service mortgages. As a servicer, firms are responsible for… Read more »

An update on the MSR market following Brexit

Posted in MSR Market Updates, Perspectives.

Home mortgage rates tend to move in the same direction as U.S. Treasuries but as-is traditionally the case, seldom is there a one-for-one relationship. Such was the case on Friday, June 24, 2016, when the U.S. Market awakened to the knowledge that the British electorate voted to leave the European Union which meant the beginning… Read more »