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SERVICES
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Successfully selling / deliverying loans to Fannie Mae and Freddie Mac requires a seller to execute a transaction with a complex array of operational, data and contractual deliverables. Successful sellers of fixed rate and adjustable rate seasoned, prime, Alt-A and, in certain cases, sub-prime loan portfolios, need an experienced and dedicated team specializing in agency data management, delivery, processing, back-office, upload (MORNET and MIDANET) and related functions associated with these agency delivery programs.
Mission Capital’s agency delivery team is an excellent alternative or addition to in-house transaction team capabilities for a variety of reasons:
CONSTANTLY CHANGING AGENCY LANDSCAPE
Agencies are under intense accounting scrutiny but under more pressure than ever to achieve housing goals, which is increasingly through the purchase/guarantee of seasoned mortgage products. How and what they purchase is a constantly evolving process.
MUCH OF THE TRANSACTION WORK MUST BE COMPLETED TO RECEIVE A FIRM BID
Because of the unique nature of the agency purchasing process, selling or delivering loans to Fannie Mae or Freddie Mac requires that a substantial portion of the loan level data and diligence review process be completed prior to receiving a firm bid. Mission Capital efficiently executes this portion of the transaction.
VOLUME AND STAFFING HEDGE
Volatile interest rates, mortgage markets and the regulatory environment make month-over-month volumes unreliable, causing overstaffing when sales are not being executed and understaffing when they are.
AGENCY RELATIONSHIP MANAGEMENT
Even small regular sales and deliveries help to maintain a seller's relationship with the agencies, an important and often overlooked path to efficient and best execution. Effective and ongoing interface and trading with Fannie Mae and Freddie Mac helps when a seller "needs" them to be there at quarter- or year-end.
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