The Emperor's New Clothes


12/31/2012 MSR Values
March 25, 2013, 5:40 pm
Filed under: Uncategorized

10q_2012_12

Servicing values appear to have turned the corner. After bottoming out in the third quarter of 2012 with an average price of 61bps, year-end 10K results show an increase, on average, of six basis points to 67bps. This is consistent with what we are seeing with our own client valuations. Prepay speeds have begun to drop as rates strengthen and the population of loans that can be refinanced dwindles.


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