Bid Date: 08/24/2016 5:00 PM EST $1.5 billion FNMA / FHLMC bulk servicing offering with optional $50 to $100 million per month co-issue Mortgage Industry Advisory Corporation (MIAC), as exclusive representative for the Seller, is pleased to offer for your review and consideration a $1.5 billion FNMA and FHLMC mortgage servicing portfolio with an optional co-issue… Read more »

New York – Mortgage Industry Advisory Corporation (MIAC) is pleased to announce that its whole loan desk successfully placed approximately $100mm of seasoned, first lien HELOC whole loans. MIAC has also been engaged as the exclusive selling agent for an additional $220,000,000 of similar assets. $100,000,000 Seasoned first lien whole loan HELOCs For more information,… Read more »

Mortgage Industry Medians (MIMs™) – MIAC’s dealer consensus prepayment projection survey. New York, NY – Earlier this month, the British electorate voted to leave the European Union, ending 43 years of participation. As markets absorb the news, prepayment issues remain a prominent concern for mortgage market participants. A well-maintained dealer consensus prepayment projection survey can… Read more »

Macro Considerations At a high level, considerations for how to choose 1) a pipeline hedge vendor and 2) the type of engagement with a hedge advisor, are dependent on characteristics of the lending institution, including: Type of institution: i.e. independent mortgage banker, depository Evolutionary stage of the firm: BE to Mandatory conversion? Becoming an agency… Read more »

    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 »

Residential loans 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 late 2015, Agency loans are approximately 90% of new originations. According to the Federal Reserve Board, mortgage debt outstanding in that year totaled approximately $13.5 trillion. By… Read more »

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 »

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 »

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 »