The FINRA Rule 4210, which establishes margin requirements for Covered Agency Transactions, including TBAs, has been a concern of secondary hedgers since the SEC’s approval of it back in June of 2016. After several delays to the effective implementation date, it looks like this latest date of June 25, 2018 just might stick. How does… Read more »

Bid Date: 02/22/2018    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 $444.37 million Ginnie Mae, Fannie Mae, and Freddie Mac mortgage servicing portfolio. The portfolio is being offered by a mortgage company that originates loans with a California… Read more »

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 »

MIAC Whole Loan Desk Press Release January 18, 2018  New York, NY –  Mortgage Industry Advisory Corporation (MIAC) is pleased to offer, as the exclusive agent, a $71 million pool of reperforming residential first lien whole Loans. The loans are being offered on an all-or-none basis and are servicing released. Investment Opportunity Interest Rate Range:… 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 »