MIAC’s Integration with New API and Product Grid Brings Greater Clarity and Competitive Pricing to Originators
NEW YORK, Aug. 5, 2024 /PRNewswire/ — MIAC Analytics™, a leading provider of proprietary secondary marketing technology, is excited to announce an integration with Fannie Mae’s Mission Score application programming interface (API) and Mission Score 2 and 3 product grids.
Fannie Mae has designed its Mission Index framework to support its goal of providing affordability, liquidity, and stability to the housing market. The framework will aid mortgage lenders and investors in identifying valuable lending opportunities with the potential for significant social impact. With this API, lenders can identify mission-oriented lending prospects, aiding in informed decision-making for best execution in secondary market transactions.
By providing loan-level Mission Index information and associated pricing, the Mission Score API helps mortgage originators to increase margins and pass along improved borrower pricing using MIAC software. MIAC Analytics, leveraging its extensive history of empowering mortgage market participants, enhances the granularity of pricing Fannie Mae offers sellers on MIAC’s platform, MarketShield®.
Better Market Pricing Transparency
“MIAC believes that it is one step ahead when it comes to finding better executions for our clients,” said Fuad Nasir, Director of Secondary Solutions at MIAC. “Industry estimates are that 15-20% of production will go into mission bonds. In a world where everyone is chasing basis points, this may enable clients to realize some additional pickup.”
Seamless Integration for Enhanced Execution
To utilize the Mission Score API, MIAC clients need to share a handful of additional fields from their Loan Origination System (LOS) or pull using their LOS integration. The API response is the Mission Score, which is used to price loans in MIAC’s pricing and hedging software. Depending on the score and rate, the MIAC Trade Desk has been observing an additional price improvement of 20-90 bps relative to vanilla product.
To learn more about our secondary marketing software solutions, please visit our website or contact your MIAC representative.
About MIAC Analytics
Since 1989, MIAC Analytics has been a provider of pricing, risk management, and accounting solutions for the mortgage and financial service industries. Offering transaction execution services, secondary market hedge advisory solutions, and third-party mortgage asset valuations, as well as state-of-the-art valuation and risk models, incorporating a full range of consumer behavioral risk factors.
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