MIAC Analytics™ is the most analytically advanced and market accepted mortgage pricing and risk management software system commercially available today. From loan origination to balance sheet risk management to pricing illiquid subordinate CMOs, MIAC Analytics is an integrated and comprehensive analytical solution for mortgage originators, mortgage securitizers, and MBS portfolio managers. No other analytical software provides the SOX compliance, integrated risk management and comprehensive GAAP accounting solutions that MIAC Analytics provides today. MIAC Analytics fully supports accounting and regulatory compliance including SFAS 140, SFAS 156, SFAS 157 and SEC SAB 109.
Nine of the ten largest mortgage companies in the nation license MIAC Analytics today.
In January 2008, one of the nation’s largest mortgage companies identified the successful implementation of MIAC’s ALM/VAST™ product as one of the most successful projects in the history of their company. MIAC Analytic is a completely integrated mortgage banking company risk management system with the most advanced term structure models, prepayment models, and mortgage spread models with user controlled risk management processes.
In 2008,
MIAC’s Secondary Solutions software suite of DataRaptor®, MarketShield™, WinOAS™, and ALM/VAST™ was increasingly the chosen secondary risk management solution for Prime and Non-Prime originators responding the opportunities in the constantly evolving mortgage market.
In October 2006,
MIAC was named the leading provider of Secondary and Residual Pricing in the Securitized and Structured Finance markets by The Bond Market Association and The American Securitization Forum.
Simply the most powerful tool in the industry for loan level data audit,
reporting, and stratification of MSR Assets and Whole Loans Assets.
As the most experienced mortgage analysts can attest, data
quality is essential to successful mortgage pricing and
risk management. DataRaptor provides not only the most
comprehensive
data auditing features but also the best data visualization
tools including advanced OLAP technologies and advanced
reporting features.
MarketShield™ is an integral part of MIAC’s mortgage industry leading secondary marketing risk management software solution. MarketShield provides FAS 157 – Level 1 best execution price discovery for interest rate lock commitments and closed pipeline loans and their allocated hedges. MarketShield seamlessly integrates the SEC SAB 109 compliant WinOAS MSR (Mortgage Servicing Rights) values in the loan pricing procedures (MSR Valuation) MarketShield offers extremely comprehensive best execution analysis, the most accurate measurement of the price sensitivity of pipeline loans, OAS (Option-Adjusted Spread) risk measurements, fully configured Agency delivery tools, and mortgage industry leading profitability loan attribution analysis. MarketShield is licensed to some of the largest players in the mortgage industry and is used internally by MIAC to support MIAC’s own Secondary Solutions Group Pipeline Hedge Advisory business. MarketShield is fully compliant with SFAS 157 and SEC SAB 109. MarketShield is within full compliance with SFAS 140, SFAS 157, SFAS 159 and SEC SAB 109.
The most analytically advanced and market accepted
Mortgage Servicing Rights and Whole Loan Option-Adjusted
Spread pricing model available. WinOAS allows users to
configure
the level of flexibility and control over the pricing methods
and pricing assumptions. WinOAS provides Sarbanes-Oxley
compliant advanced Assumption Tracking and User
Level Permissions tools.
WinOAS can be run on a laptop or in a dedicated network
with hundreds of computers running in a distributed
processing
mode. From modeling clean up calls to retention behavior
to advanced prepayment modeling and foreclosure simulations,
WinOAS is the industry standard for modeling illiquid mortgage
assets including Interest Only and Principal Only Strips. WinOAS is also in full compliance with SFAS 140, SFAS 156, SFAS 157 and SEC SAB 109.
The most comprehensive hedging and asset/liability
model for mortgage banks. VAST – Variable
Assumption Set Tool allows user both to measure prospective
market value risk with complete control over the exogenous
model parameters including term structure shape, basis
spreads, forward time periods, volatility surfaces, prepayment
models,
foreclosure loss simulation and many more. VAST is the
industry standard for Retrospective and Prospective Attribution
Analysis
of mortgage assets and hedge instruments.
VizHedge/VAST is also used by MIAC Capital Markets experts
to provide independent, third-party valuations of interest
rate derivative products including swaps, swaptions, amortizing
swaps, caps, floors, and mortgage derivative products. Fully complient with SFAS 140, SFAS 156, SFAS 157 and SEC SAB 109.
Senior/Subordinate structure is an increasingly popular form of mortgage-backed security. It involves creating different classes of securities so that investors in the more senior classes of securities have priority over the investors in the subordinate classes. Losses on the loans would first affect investors in the lower priority subordinate securities, and typically senior securities receive prepaid principal sooner. Reflecting their respective credit risk, the senior securities would usually receive the highest credit ratings and offer the lowest yields to investors, while the subordinate classes would be rated below that and offer higher yields to investors. The result is a variety of products with a total value greater than you would see in a single-class mortgage pass-through security. In compliance with SFAS 140, SFAS 157, SFAS 159 and SEC SAB 109.
The Accounting, Tax, and Hedge Loan Level Tracking
Database and Analytic Programs allow for loan level GAAP
basis tracking, sophisticated loan level and risk strata
level tax and accounting reporting, as well as detailed risk
analysis of the mortgage portfolio. Loan level market valuations
are performed using actual loan level cash flows based on
either current discount rates or option-adjusted spread valuations
in WinOAS™ . Amortization of individual loans or risk
strata can be updated and re-forecasted automatically using
vectored prepayment forecasts and detailed reporting. By
integrating impairment measurement with analysis of hedge
impact, book impact, and tax impact, AnT – Pipeline FAS 140™ provides
the mortgage servicer with the necessary tools for accurately
quantifying and successfully reducing the interest rate
and prepayment risk inherent in the servicing portfolio.
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