Q&A with Mortgage Industry Veteran Paul Van Valkenburg

Posted in MIAC Publications, Recent News.

By Eric Leininger, CME Group At a Glance: •     Mortgage-backed securities issuance has dropped to historic lows as borrowing rates have increased •     New TBA futures aimed at mitigating MBS market risk are seeing increased trading volume Read the article and listen to the full conversation on CME Group’s OpenMarkets In an environment… Read more »

CORE Insights: Are FHA Purchase Loans a Lurking Credit Risk?

Posted in MIAC Publications, Perspectives, Recent News.

By Dick Kazarian, Managing Director, Borrower Analytics Group This article takes a closer look at the credit risk of FHA purchase loans within our CORE™ Residential Model Suite. We cover the following topics: •    Core Model Framework •    The Importance of a Competing Risk Framework •    Segmentations within the Government-insured sector • … Read more »

Market Overview

Posted in MIAC Publications, Perspectives.

By Dick Kazarian, Managing Director, Borrower Analytics Group Each issue of our Quarterly Perspectives consists of articles that cover topics of interest to mortgage market participants. This article reviews the following topics: •    Mortgage Rates and Spreads •    Update on the PMMS Survey •    Prepayment changes from our MIMs Survey •   … Read more »

MIAC Perspectives – Fall 2022

Posted in MIAC Publications, Perspectives, Recent News.

In this issue… Market Overview Dick Kazarian, Managing Director, Borrower Analytics Group This Market Overview provides an overview of rates, prepayments, credit, housing markets, and other topics of broad interest to mortgage market participants. Topics include: Mortgage Rates and Spreads, Prepayment changes from our MIMs Survey, and an update on the PMMS Survey. Read more… CORE… Read more »

MSR Market Update – Q3 2022

Posted in MIAC Publications, MSR Market Updates, Recent News.

By Mike Carnes, Managing Director, MSR Valuations Group MSR Price Changes (YTD 2022) As displayed in Figure 1, MIAC Generic Servicing Assets™ (GSAs) have experienced significant YTD 2022 price increases across all four sectors and both vintages, with a UPB-weighted increase of 1.17 multiple (or 30.0%). Within Conventional products, pricing increased substantially more for 30-year… Read more »

Lock Tracker

Posted in MIAC Publications, Perspectives, Recent News.

By Dick Kazarian, Managing Director, Borrower Analytics Group In this issue of MIAC Perspectives, we introduce our Lock Tracker™. We introduce this Lock Tracker to help market participants follow origination trends considering the unprecedented market volatility in rates and volume that we have experienced since the start of 2022. Our data consists of applications processed… Read more »

MIAC Perspectives – Spring 2022

Posted in MIAC Publications, Perspectives, Recent News.

In this issue… Market Overview Dick Kazarian, Managing Director, Borrower Analytics Group This Market Overview provides an overview of rates, prepayments, credit, housing markets, policy updates, and other topics of broad interest to mortgage market participants. Topics include: Mortgage Rates and Spreads, Prepayment changes from our MIMs Survey, Extension Risk Concerns. Read more… CORE Insights: A… Read more »

Lifetime Mortgage in Vision™

Posted in MIAC Publications, Perspectives.

By Dr. Darrel Welch, Managing Director, MIAC Analytics Ltd. Introduction Lifetime mortgage (LTM) is one of the latest asset classes to be implemented in Vision™, MIAC’s advanced ALM system. UK’s lifetime mortgage sector saw a borrowing boom in 2021, with annual lending growth year-on-year from £3.86 to £4.8 billion (24%). So far in 2022, this… Read more »

MSR Market Update – Q1 2022

Posted in MIAC Publications, MSR Market Updates, Perspectives.

By Mike Carnes, Managing Director, MSR Valuations Group MSR Pricing MSR prices continued their dramatic ascent in Q1 2022. As displayed in Figure 1, MIAC Generic Servicing Assets (GSAs™) experienced first quarter price increases across all four sectors and both vintages, with a UPB-weighted Q-on-Q increase of 0.97 multiple (or 24.9%). Within Conventional products, pricing… Read more »