As local, state, and national organizations plunge into another year’s worth of conferences, there is some good news for those that imbibe in adult beverages. According to this research, alcohol trumps exercise for living past the age of 90. Great news for all those LOs out there who have already reached that milestone.

Servicing

Non-depository lenders are still searching for lines of credit to finance their mortgage servicing rights (MSR). And servicing packages continue to trade.

Mortgage Industry Advisory Corporation (“MIAC”) is pleased to offer, as exclusive agent, a $40 million pool of performing Investor Loans originated by a Non-Bank originator. The loans are being offered on an all-or-none basis, Servicing Retained at a 6.0% Net Interest Rate.  These are non-recourse, investment property loans.  There have been zero losses on the portfolio since the program began.  There is an additional opportunity to purchase future flow origination. For details, please contact Steve Harris.

MIAC 401135 $85mm Bank Originated 1/1 ARMs retained; the Seller is a rated with the Service Retained will be the gating factor). 4.49 WAC, 62.03 WaLTV, 749 WaFICO, 35% WaDTI, 95% CA originations, with a $539k average loan size. The seller has originated approximately $5B of this paper, without a single delinquency. Loans are Alt doc: bank statement, VOE, etc. They are ATR compliant, and have been reviewed by regulators as such. MIAC will accept an AON bid, or Loan Level Carves.

MIAC 401123 $2.5mm S/D; 15 loans with various defects, pricing mid-80s to par, please call your rep for a bid tape.

MountainView Financial Solutions was the exclusive sales advisor for three offerings recently. The first a $2.2 billion FNMA/FHLMC non-recourse servicing portfolio that is being made available to the national market. The portfolio is 97 percent fixed rate and 100 percent 1st lien product, WaFICO of 715, WaLTV 72 percent, 4.05 WAC (4.33 percent on the 30yr fixed rate product), Low delinquencies, $190k average loan size, with top states: California (40.1 percent), Colorado (7.7 percent), Florida (5.7 percent), and Arizona (5.2 percent). The second is a $2.6 Billion National Private Investor servicing portfolio. It is 53 percent fixed rate and 98 percent 1st lien product, approximately 77% performing, WaFICO of 666 (close enough to call it 665 or 667 for the superstitious), WaLTV of 76 percent, 4.64 WAC (5.01 percent on the 30yr fixed rate product), the current outstanding advances are $114,940,724 and the Seller is seeking 100% reimbursement of recoverable advances at transfer, $149k average loan size, with top states: California (14.6 percent), New York (11.7 percent), Florida (8.6 percent), and Texas (5.7 percent). The third is a $580 million FHLMC/FNMA non-recourse servicing portfolio that is being made available to the national market. It is 100 percent fixed rate 1st lien product, 744 FICO, WaLTV of 81 percent, 4.00 WAC (4.12 percent on the 30yr fixed rate product), low delinquencies, $268k average loan size, with top states: Florida (21.0 percent), Ohio (18.0 percent), Texas (17.2 percent), and North Carolina (15.2 percent).

Prestwick Mortgage Group has two portfolios. The first a $258 Million California FNMA A/A, $298,791 average unpaid principal balance, 3.805% weighted average note rate – all loans fixed rate, 0.2575% weighted average net service fee, approximately 19 months of weighted average seasoning, over 97% of the loans are on properties in California, 0.81% delinquency ratio (30+), including foreclosures, as of the data date, with no loans over 30 days delinquent, with approximately 751 WaFICO. The second a $729 Million Indiana FNMA/FHLMC/GNMA, $143k average unpaid principal balance, 3.999% weighted average note rate, 0.2930% weighted average net service fee, approximately 93.3% of the loans are on properties in Indiana; 3.4% Michigan; the remainder in 9 other states, 2.499% delinquency ratio (30+), including foreclosures.  (~1.1% of FNMA/FHLMC and ~5.96% of GNMA), 744.873 WaFICO for FNMA/FHLMC and 655 for GNMA.

Incenter Mortgage Advisors is the exclusive seller of a $361.1mm FNMA/FHLMC/GNMA portfolio. The package is $219mm FNMA (431)/FHLMC (261), $106mm GNMA (484), 4.063 WAC, 710 WaFICO, 79% WaLTV, 87% Owner Occupied, 58% Purchase, 23% Cash Out, 70% SFR, 21% PUD, with top states: CA (70%), CO (17% and FL (6%).

IMAC #104588 $19mm Hard Money Loans: 11 loans, 9.58% WAC, 53.40 Original LTV, 6mos Remaining Term (R&W the seller is willing to make available on the word document in Sharefile, please call your rep).

IMAC #104577 $10mm Investor Landlord Loans: 37 loans, 108 properties, 5.72% current rate, 1.50 DSCR (Debt-to-Service Coverage Ratio), $139k monthly rent, $202k annual taxes, $86k annual taxes, with prepayment penalty attachment.

IMAC #104586 $8mm+ Alt Doc 7/1(flow opportunity): 18 loans, 4.69 WAC, 2.75% reset margin, 1/2/5 cap structure, 57.51% Orig LTV, 738 WaFICO, 72% owner occupied, 100% CA originations.

Register now for MountainView’s next MSR Asset Monthly Snapshot webinar on Tuesday March 6th from 11-11:30AM PT. Our presenters will share insights gained from our valuation, risk and transaction advisory work in February. You’ll obtain critical data points and commentary for your month-end reporting and your strategic decisions.

Upcoming Events and Training

Are rising interest rates, the new tax rules and/or housing inventory issues slowing down your momentum? Attend one of the 10 upcoming Sales Momentum Workshops to learn how to overcome these roadblocks and win more deals this year. Gibran Nicholas, CEO of CMPS Institute, will be the keynote speaker at the Sales Momentum workshops, which will kick off on March 12. Locations include Irvine, San Diego, San Ramon, Seattle, Denver, New York, Philadelphia, Washington DC, Atlanta and Dallas. This is a great opportunity for branch managers and LO’s to invite your strategic partners, because you’ll essentially be getting a third-party endorsement from the stage. “I'll be talking about why Realtors and financial advisors need you in light of millennial trends and the changing market,” says Gibran. “You and your strategic partners will walk away with a 30-day action plan to create massive sales growth together!” Click here to watch a 3-minute video and sign up.

MGIC’s March training calendar is now available for viewing and registration.

Join Plaza on March 5th for a webinar overview of The Three C's of mortgage banking including income/employment, assets/reserves and ratios. Understand the factors that make up a credit score, and the fundamentals of mortgage risk.

The first line of defense against cyberattacks is knowing what kind of threats and vulnerabilities exist so that you can develop a plan to mitigate them. Join Clark Schaefer Hackett, the FBI and Clark Schaefer Consulting for two events on cybersecurity. March 6th at the Voice of America Learning Center, West Chester and March 13th Creekside Conference & Event Center, Gahanna.

On March 7th, join Richey May & Co. as Cybersecurity and Technology Trends are discussed as part of its webinar series. This webinar includes what mortgage banking companies need to know to keep their financial and consumer data safe. CPE credit is available to CPAs who attend. Attendance at the live webinar is required to qualify.

In many organizations Accounts Payable (AP) is the one business function which is more vulnerable to fraud than any other. Join Peter Goldmann, President of FraudAware LLC, the publisher of White-Collar Crime Fighter for a webinar on March 8th “Detecting and Preventing Accounts Payable Fraud”. you’ll learn how to identify potential perpetrators in your organization, detect signs of fraud, and create robust controls that will eliminate opportunities for fraud.

Mark Reeve, Plaza's VP, Reverse Mortgage Division, will explain everything you need to know to help your clients use a Plaza Reverse Mortgage to purchase a home. Register for its March 13thwebinar today.

Register for the MMBBA’s March 14th Regulator’s Roundtable. Learn about next Maryland State examination and hear about the Discussion of Maryland regulations and exam issues.

Don’t forget to register for the WMBA “Income Property Lunch” on March 15th. This Lunch will be in partnership with FIABCI and will take place at Maggiano’s in Bellevue.

On March 15th, Plaza’s webinar will explore the 4 things everyone wants from your realty company and the 3 things everyone wants from you. This session includes powerful web sites and Apps to help you stay on top of the changing market, communicate with your customers and increase productivity.

Capital Markets

LIBOR? Plans to replace the London Interbank Offered Rate with a new benchmark after 2021 are running into obstacles, particularly regarding products that mature after 2021, including bonds, swaps, business loans and mortgages, experts say.

Friday’s dearth of economic data helped U.S. Treasuries end higher for the week. None of Friday’s four Fed speakers made market-moving remarks, though FOMC Vice Chair William Dudley said the Fed should stop shrinking its balance sheet when it reaches just under $3 trillion - it was below $1 trillion before the financial crisis. The Federal Reserve did release its monetary policy report, which supported the FOMC's tightening bias, while expressing concern about rising nonbank financial leverage like margin credit as valuations are higher than expected when based on longer-term Treasury yields. The headline Fed news this week is Chairman Jay Powell will testify before the House Financial Services Committee tomorrow morning and then before the Senate Banking Committee on Thursday.

This week kicks off with a modest calendar of economic data, first the January Chicago Fed National Activity Index (showing a slight dip to 0.12), followed by January new homes sales today. Later in the week, we have Q4 GDP, consumer confidence and sentiment, ISM manufacturing and Chicago PMIs, February vehicle sales and personal income and consumption to give us an idea of the latest inflation-situation. Rates start with the week a shade lower than Friday afternoon with the 10-year yielding 2.84% and 30-year agency MBS prices better/lower by .125.

Jobs, Services, and Products

Western Alliance Bank is continuing to grow its mortgage portfolio and is looking for an experienced Mortgage Operations Manager to oversee the purchase of closed mortgage loans from a variety of sources. The ideal person will have 5-7 years of experience in processing, underwriting and closing mortgage loans, with 2-3 years of supervisory experience. Background in purchasing closed loans is a plus. The position will be in the Chandler, Arizona office. Western Alliance Bank continues to grow and was ranked #2 on Forbes 2018 list of Best Banks in America.Contact Richie Walia at (480) 609-2910 for more information.

Behind every great originator is a team of professionals who educate and inspire them to use their loan programs, technology and settlement services. It is these folks who are often forgotten but are a crucial piece of the puzzle to continue to grow home ownership. It is with that in mind that National Mortgage Professional Magazine has launched the search for AE MVPs to receive the Account Executive MVP Awards. These are individuals who do not originate, but support originators in their role of wholesale lenders, AMCs, mortgage insurance providers, lead providers, marketing services, credit and data providers, title companies and so on. Nominate your favorite Account Executive's here by Wednesday, March 21.

Assurance Financial is quietly growing into a nationwide leader in lending. Just ask Mike Killmeyer who recently opened a branch for Assurance Financial in Denver, Colorado. Mike was equipped to take loan applications immediately with little downtime and is now poised to add to his growing professional staff. Mike and his team saw that our compensation structure is excellent, and our back-office support was second to none - 16 years of working, changing, and perfecting it. He also saw that we have an unwavering mission to close loans on time, every time! We have immediate openings for proven, successful, producing Branch Managers and MLOs in Wilmington, Charlotte, Denver, Austin, and many other branch locations throughout the country. For immediate consideration, contact Paul Peters, CMB, Assurance Financial, Recruiting Manager (225-239-7948).

Stearns Lending continues to grow its nationwide joint venture network and welcomes its 10th joint venture, Greenpath Funding, LLC. The joint venture, based in southern California, began its partnership with Stearns on January 2nd. The company brings a long-standing partnership with Century 21 Award, who lists and sells more real estate than any other Century 21® franchise in the world. In addition to this group of over 1,000 agents, Greenpath Funding holds strong ties with many other realtor partners throughout Southern California, while maintaining its position as a leader in purchase production. Management is looking for talented Loan Officers to join the venture and serve these relationships. For more information, contact their VP of Strategy Evan Kidwell at (949) 716-1765.

Southern Trust Mortgage announced that Mike McNamara is its Recognized Credit Expert. “The addition of McNamara will provide clients access to another industry expert for guidance in the path to homeownership. He will work with borrowers going through the application process by analyzing credit reports for inaccuracies and making recommendations for improving their credit. Mike will be able to rescore credit within 72 hours and has a very impressive 98% success rate in boosting scores.”