Thursday, June 11th, 2020

2:00 PM (Eastern Time)
Mortgage Servicing Rights: June Update

• Thursday, June 11 | 2:00 - 3:30pm ET |  Please scroll down to view recording
  The volatile mortgage servicing right investment is a difficult instrument to manage in a normal investment climate. A triple-whammy of large amounts of customers refinancing due to low mortgage rates, mortgage non-payment, and forbearance increasing exponentially, coupled with lagging and contradictory federal government actions, is making it an even bigger challenge. This webinar will attempt to cut through all the noise and discuss what is really happening out there.       
  
  

2:00 PM (Eastern Time)
Sponsored by:

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2:00 PM (Eastern Time)
An Overview Of The Most Recent Developments In The MSR & Mortgage Markets

• • Freddie deferral option
  • The bulk market is coming to life… What is it looking like?
  • The latest forbearance numbers
  • Short-term liquidity options
  • Capital raising
  • CFPB best practice guidance on mortgage transfers

   
  
  

  • Douglas Harter, Director (Credit Suisse)
  • Larry Goldstone, President-Capital Markets & Lending (BSI Financial)
  • Jay Lown, President & Chief Executive Officer (Cherry Hill Mortgage Investment Corp.)
  • Bill Greenberg, Chief Executive Officer (Two Harbors Investment Corp.)

2:30 PM (Eastern Time)
Is It A Generational Opportunity To Buy? MSR Opportunities For The Investor

• • Where are the REITS?
  • Selecting a new vs. experienced seller
  • Target returns for MSR
  • Rent-a-ticket investments vs owned entities
  • E-Delivery and the investment – Evaluating onboarding modules
  • What to buy now? The advantages and disadvantages of FNMA, FHLM GNMA?
  • Grid Vs. dynamic pricing models and slippage
  • SMP and FAST vs. Private buying mechanisms: MSR-X
  • Paying up now for the relationship? And how to make it a lasting partnership. What are the key issues beyond price
  • Capacity is more than just the MSR, the intangibles of onboarding costs and servicing/ subservicing onboarding capacity?
  • Selecting a sub servicer to meet your needs ? Risk of “burning out” the internal staff?
  • Internal QC Process for due diligence review both of counter party and the UW – (Outsourced solutions outlined)
  • Willingness to be malleable on PSA and LOI while still protecting the balance sheet
  • Dealing with UW defects and buyback scenarios, partnership vs. cost and the balance to maintain the relationship.

  
  
  

  • Al Qureshi, Managing Partner (Blue Water Financial Technologies)
  • Brent Nyitray, Chief Financial Officer (Ark Mortgage)
  • Michael Nedzbala, Partner (Hunton Andrews Kurth LLP)
  • Nicholas Smith, Managing Partner (Rice Park Capital Management LP)

3:00 PM (Eastern Time)
Selecting A New Co-Issue Buyer Take Out – Is It More Than Just A Price….?

• • How important is experience in buying co-issue? What do you look for in a new entrant?
  • E delivery vs. Manual file delivery; Monthly vs. Quarterly delivery
  • Service internally vs. using sub servicer- Working with Sub Servicer constraints, malleable timetables, blackout periods?
  • Customer onboarding & Hello good bye letters… What are the key issues surrounding timing?
  • Borrower experiences- Are SLA’s meeting expectations? What do you do if they aren’t?
  • Co-Issue buying for banks? Pitfalls vs. opportunities?
  • Price tiering by counterparty type
  • How do you get best-ex execution?
  • Recapture capabilities & tracking
  • COVID 19 Forbearance protocols in PSA; 90-180 days, etc.… What is fair for both sides?
  • Buybacks and default / UW defects
  • Options for synthetic bifucation

  
  
  

  • Nitin Dave, Senior VP of Servicing & Agency Relations (Nationwide Mortgage Bankers, Inc)
  • Emanuel Santa-Donato, Director of Capital Markets (Better.com)
  • Travis LaMar, Managing Director, Capital Markets (Blue Water Financial Technologies LLC)
  • Hakan Beygo, Senior Director (Freddie Mac)

3:00 PM (Eastern Time)
Forbearance & It’s Challenges To The MSR Asset & Servicing Sales

• • How many loans are currently in forbearance? What are the loans characteristics?
  • The latest DC, Agency and state regulations to be concerned with
  • How are you financing forbearances?
  • Forbearance and MSR transfers
  • Customer service and forbearance management best practices
  • Dealing with advances
  • When are you using non-forbearance loan mitigation strategies?
  • How are you treating forbearance requests on non-QM loans?
  • Handling loans already in default before covid-19
  • How many people in forbearance are still paying?