Bid Date: 02/21/2018    5:00 PM EST Mortgage Industry Advisory Corporation (MIAC), as the exclusive representative for the Seller, is pleased to offer for your review and consideration a $773.13 Million FNMA / FHLMC / GNMA mortgage servicing portfolio. The portfolio is being offered by a mortgage company that originates loans with a New York concentration…. Read more »

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 »

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 »

In this issue… CECL – Raising the Standards of Success Dean Hurley, Managing Director, Structured Products Group Jeffrey Zuckerman, Vice President, Capital Markets Group The CECL is bringing fair value into the ALLL. We describe how the standards are impacting the financial industry — and how MIAC is partnering with organizations to ensure a smooth implementation. Read… Read more »

Market Size Residential mortgages generally fall into one of two categories:  Agency — eligible for programs offered by Fannie Mae, Freddie Mac, or Ginnie Mae (FHA/VA) — and non-Agency. As of Q1 2017, Agency loans are approximately 85% of new originations. According to the Federal Reserve Board, mortgage debt outstanding in that year totaled approximately… Read more »

Overview of the Rules CECL overhauls the current impairment models for loans, leases and debt securities, and also impacts commitments. It removes the “probable” threshold under the “incurred loss model” for recognizing credit losses. Firms will be required to report the current estimate of lifetime loan losses, incorporated into the Allowance for Loan and Lease… Read more »

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 »

MIAC’s secondary markets trading desks have been enjoying the recent addition of a new, advanced integration to the FNMA Cash Window that is providing us with substantial time savings.  We are pleased to announce that this enhancement to our MarketShield® platform is now available for client use. Our latest release of MarketShield v5.0 not only… Read more »

Who are the GSEs and Ginnie Mae? Fannie Mae, the Federal National Mortgage Association (FNMA) and Freddie Mac, the Federal Home Loan Mortgage Corporation (FHLMC) are the established secondary market lenders responsible for the liquidity of the majority of conventional, non-Government, conforming residential whole loans that are originated today and for the past number of… Read more »

Executive Summary For purposes of lowering mortgagor borrowing costs, building a stronger banking system through more efficient hedging of mortgage risk and  encouraging additional capital to enter the mortgage sector, we believe there  is ample reason to include a mortgage current coupon yield index as one of  the alternative indices to LIBOR Now that protective… Read more »