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 »

Residential MSR Market Update – June 2018

Posted in MSR Market Updates.

Over the last month, the MIAC Generic Servicing Asset™, (“GSA™”) Conv_30 Index decreased by 0.79% and the GNII_FHA_30 index decreased by 2.42%. 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 2.35% and 1.98%. During the month of May, Conv_30 Index OAS’s took a… Read more »

Residential MSR Market Update – May 2018

Posted in MSR Market Updates.

Over the last month, the MIAC GSAs™ (Generic Servicing Assets) Conv_30 Index increased by 3.53% and the GNII_FHA_30 index increased by 4.91%. 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 3.70% and 3.91%. After a slight hiccup in March, expectations for rising rates… Read more »

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 »