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Mortgage Industry Advisory Co. says that nine of the nation's 10 largest servicers are now using MIAC Analytics, a tool for valuation of mortgage servicing rights.
Combined, all of MIAC's clients manage about $2.9 trillion of underlying residential and commercial mortgage receivables, representing 50% of the U.S. mortgage market, the company said.
Robert Fear, vice president of MIAC, said the milestone "underscores the fact that we provide the most widely accepted model in the industry."
Separately, MIAC announced that users of MIAC Analytics software now have the ability to download Mortgage Industry Medians (MIMs) and Generic Servicing Assets (GSAs) across the Internet onto their MIAC system.
This will allow MIAC users to instantly update their portfolios with daily prepayment ...