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- Service_release_premium abstract "A service release price (SRP) is the payment received by a lending institution, such as a bank or retail mortgage lender, on the sale of a closed mortgage loan to the secondary mortgage market. The secondary mortgage market purchaser is typically a Wall Street investment bank, Fannie Mae, Freddie Mac, or Ginnie Mae, as the first step in the creation of a mortgage-backed security (MBS). Today, virtually all mortgages closed are purchased by the US government through the GSE Mortgage Backed Securities Purchase ProgramThe amount of SRP paid is based on the market value of the mortgage note, influenced by several key variables, such as interest rate, loan type, margin (for ARM loans), and the inclusion or exclusion of other items such as prepayment penalties. Also considered are the loan's LTV (loan to value), the borrower's credit score, the presence of private mortgage insurance (PMI), pre-payment risk of the borrower and other factors beyond the scope of this article.Since servicing was brought on balance sheet by all lenders there has been consolidation in the servicing market because many servicers believed that they could cross sell their products through servicing portfolios. While this strategy hasn't been as profitable as many would have thought it has worked well for some. These servicers therefore paid a premium for servicing compared to its present value.".
- Service_release_premium wikiPageID "14269019".
- Service_release_premium wikiPageLength "1586".
- Service_release_premium wikiPageOutDegree "9".
- Service_release_premium wikiPageRevisionID "673835917".
- Service_release_premium wikiPageWikiLink Category:Banking.
- Service_release_premium wikiPageWikiLink Fannie_Mae.
- Service_release_premium wikiPageWikiLink Freddie_Mac.
- Service_release_premium wikiPageWikiLink GSE_Mortgage_Backed_Securities_Purchase_Program.
- Service_release_premium wikiPageWikiLink Government_National_Mortgage_Association.
- Service_release_premium wikiPageWikiLink Lenders_mortgage_insurance.
- Service_release_premium wikiPageWikiLink Mortgage-backed_security.
- Service_release_premium wikiPageWikiLink Mortgage_loan.
- Service_release_premium wikiPageWikiLink Secondary_mortgage_market.
- Service_release_premium wikiPageWikiLinkText "Service release premium".
- Service_release_premium wikiPageUsesTemplate Template:Disputed.
- Service_release_premium wikiPageUsesTemplate Template:Finance-stub.
- Service_release_premium wikiPageUsesTemplate Template:Multiple_issues.
- Service_release_premium wikiPageUsesTemplate Template:Tone.
- Service_release_premium wikiPageUsesTemplate Template:Unreferenced.
- Service_release_premium subject Category:Banking.
- Service_release_premium hypernym Payment.
- Service_release_premium type Software.
- Service_release_premium type Industry.
- Service_release_premium type Redirect.
- Service_release_premium type Service.
- Service_release_premium comment "A service release price (SRP) is the payment received by a lending institution, such as a bank or retail mortgage lender, on the sale of a closed mortgage loan to the secondary mortgage market. The secondary mortgage market purchaser is typically a Wall Street investment bank, Fannie Mae, Freddie Mac, or Ginnie Mae, as the first step in the creation of a mortgage-backed security (MBS).".
- Service_release_premium label "Service release premium".
- Service_release_premium sameAs Q7455792.
- Service_release_premium sameAs m.03czrjq.
- Service_release_premium sameAs Q7455792.
- Service_release_premium wasDerivedFrom Service_release_premium?oldid=673835917.
- Service_release_premium isPrimaryTopicOf Service_release_premium.