In this episode of Lykken on Lending, our guest in the Hot Topic segment is Seth Sprague, Executive Vice President at PHOENIX.
Seth has over 25 years of mortgage banking experience, with emphasis on the mortgage servicing right (MSR) asset and an in-depth knowledge of MSR modeling techniques, MSR accounting and capital issues and MSR transaction management.
Topics Covered in this Hot Topic Episode
1. Various motivations present within the MSR seller and MSR buyers today
2. What’s going on in Washington DC and how this can impact the MSRs market
3. Some the strategies companies should consider helping to maintain profitability in 2019
Want to know more about Seth Sprague?
Seth D. Sprague CMB, EVP of Trading & Analytics, joined PHOENIX in 2013 after more than ten years with SunTrust Mortgage managing mortgage servicing rights (MSR) portfolio valuation process as well as their periodic MSR transactions.
Seth’s primary responsibilities at PHOENIX include managing bulk and flow MSR transactions and offering strategic advice across PHOENIX’s 250 plus clients. In 2017, Seth’s duties were expanded to include a more active role in the strategic leadership in PHOENIX Analytics with an emphasis on developing and providing strategic valuation solutions to meet the needs of clients.
Seth has a total of over 25 years of mortgage banking and servicing valuation experience at a variety of firms including SunTrust Mortgage, Bank of America Mortgage, United Financial/Matrix Financial and KPMG LLP.
In 2018, Seth was selected as Secretary of the MBA’s Certified Mortgage Banker (CMB) Society and continues to serve on a number of committees with the Mortgage Bankers Association (MBA) including the Financial Management Steering Committee, MBA’s Servicing Council for the 21st Century, MBA’s BASEL III and the Servicing Compensation Working Group.
Seth is a frequent speaker at various MBA and other industry conferences often speaking on liquidity and the overall challenges present in the mortgage industry. Seth has been an instructor with the MBA’s School of Mortgage Banking (SOMB) program since 2007, teaching “Servicing/MSR Day” and also as an instructor for the MBA School of Mortgage Servicing. Seth holds an MBA from the University of Colorado – Denver and an undergraduate degree from the University of Richmond with a concentration in Accounting.
Resources Mentioned in this Hot Topic:
MORTGAGE: CBO Report Calling for Higher G-Fees or Lower Loan Limits Foreshadows Fight Ahead. The CBO’s annual deficit reduction report includes two notable policy alternatives relating to the mortgage finance landscape: (1) increase the GSE guarantee fee by 5bps, which would push the fee to slightly over 60bps, and maintain that level beyond the scheduled reduction in 2021; and (2) steadily reduce the conforming loan limit by 5% per year until it reaches ~$300K by 2028.