Phoenix Capital Family of Companies: Mortgage Servicing Rights Specialists

Experts in valuing, advising, closing and providing operational support for all types of mortgage asset transactions.

A mark to market is a formal appraisal of the value of a company's mortgage servicing rights portfolio and is used internally as well as provided to auditors and regulators. In a typical year, Phoenix Analytic Services performs over 250 mark to markets for our clients reflecting over $25 trillion of principal balance. Encompassed in these valuations are all servicing products, including but not limited to prime, Subprime, Alt-A, home equity and option ARM's. The end result of this analysis is a formal book, which includes detailed pricing, cash flows and interest rate shocks. Phoenix Analytic Services provides clients mark to market services on a monthly, quarterly, quarterly with monthly refresh, semi-annual and annual basis based upon the client's needs.

Current trends in the Mortgage Servicing Rights Market

From late 2006 through 2008 there has been a tremendous amount of consolidation in the Subprime market. Along with the consolidation there has been a large decline in value for the Subprime mortgage servicing asset (MSR). While consolidation has played a role in the value decline, it has primarily been due to the tremendous increase in delinquencies and servicing advances.

Phoenix has been involved in the majority of the Subprime transactions that have taken place as either a buyer or seller representative. This involvement has given Phoenix detailed knowledge of the asset's market pricing and has honed the modeling techniques and assumptions used for the complex asset in mark-to-market valuations.