An update on the MSR market following Brexit

Posted in 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 »

CECL – Current Expected Credit Loss: A CORE Competency?

Posted in Current Expected Credit Loss: CECL News & Events, Perspectives.

Current Expected Credit Loss (“CECL”, ASC 825-15) is the Financial Accounting Standards Board’s (FASB) new model for calculation of loan loss reserves, which requires consideration of multiple scenarios looking out over the lifetime of the instrument. These standards replace those now in use for preparing Allowance for Loan & Lease Losses, (“ALLL”), purchased credit-deteriorated assets,… Read more »

MIAC Perspectives Summer 2016

Posted in Perspectives.

In this issue… CECL – Current Expected Credit Loss: A CORE Competency? Dean Hurley, Director, Capital Markets Group Jeffrey Zuckerman, Vice President, Capital Markets Group Current Expected Credit Loss (“CECL”, ASC 825-15) is the Financial Accounting Standards Board’s (FASB) new model for calculation of loan loss reserves, which requires consideration of multiple scenarios looking out over… Read more »

MIAC Perspectives – Summer 2015

Posted in Perspectives, Recent News.

In this issue… MIAC CORE ™ : Non-Agency Loss Model Dr. Glenn Mandigo, SVP, Borrower Analytics Joseph Furlong, SVP, Borrower Analytics The MIAC CORE™ is the name of MIAC’s new class of behavioral models for all asset classes including residential non-agency whole loans/MSRs, residential agency whole loans/MSRs, commercial whole loans, auto loans, credit cards, unsecured consumer… Read more »

MIAC CORE ™ : Non-Agency Loss Model

Posted in Perspectives, Recent News.

Introduction The MIAC CORE™ is the name of MIAC’s new class of behavioral models for all asset classes including residential non-agency whole loans/MSRs, residential agency whole loans/MSRs, commercial whole loans, auto loans, credit cards, unsecured consumer loans, etc. Each of these models has two components – a Voluntary Prepayment Model and a Loss Model. Each… Read more »

Mortgage Servicing Rights Market Update – Q2 2015

Posted in Perspectives, Recent News.

Market Overview The Mortgage Servicing Market experienced a significant drop in the number of discrete bulk transactions for the first half of 2015 versus the first half of 2014. However, due to several large portfolio sales by Non-Banks and other Regional Institutions, the actual UPB that changed hands was larger than the first half of… Read more »

Is the UK Buy-To-Let Sector Resilient to Interest Rate Rise?

Posted in Perspectives, Recent News.

The following article was first published in the Mortgage Finance Gazette in January 2015 and has been brought up to date for MIAC Perspectives. Introduction The Buy-To-Let (BTL) sector has demonstrated material growth as a sub-market of the mortgage industry in the UK.  For potential home owners, buying homes has become a serious challenge from… Read more »

Winter Update 2014 – The Winter of Data Discontent

Posted in Archives, Recent News.

As regulatory standards tighten and the enforcement environment frosts, data integrity becomes even more of a critical focus for the participants in the mortgage industry. Of particular importance is the need by lending institutions to complete a successful regulatory or compliance audit. Complete and accurate data can be difficult to maintain and validate. Yet in… Read more »