The Morgan Keegan Residential and Consumer Loan Group is a principal buyer and seller of residential and consumer loans, buying both conforming and nonconforming loans with the seller either retaining or releasing servicing.
Our many specialized products include:
- Conforming Residential Loans
- Nonconforming Residential Loans that fall outside agency guidelines for size or documentation
- Credit Card Loans
- Mortgage Servicing
- Mobile Home Loans
- Subprime Residential, Commercial and Consumer Loans
- Nonperforming Residential, Commercial and Consumer Loans
- 2nd mortgage and Home Equity Lines of Credit
- Automobile Loans
- Asset-Backed Securitization
- Merchant processing
Our Unique Services
| Analysis |
Free complete mortgage analysis: pricing, interest rate and prepayment risk analysis |
| Efficiency |
Industry leading turn-around on all analysis and re-pricing |
| Due Diligence |
Free on-site due diligence prior to a transaction |
| Reporting |
Complete loan closing support including assignment preparation |
| Servicing |
Loan Servicing Evaluations assist in complying with regulators and accountants with appropriate accounting treatment |
Selling Loans: Transaction Steps
At Morgan Keegan, our goal is to make selling loans as simple – and profitable – as possible. The following seven steps outline the process stronger, more diversified residential loan portfolio:
- We perform a preliminary pricing and risk analysis on the residential loan portfolio, preferably from a computer file. From this information, we segregate and stratify the portfolio by product type, marketability and other key loan criteria. This initial analysis includes market valuation by product grouping, servicing evaluation, interest and prepayment risk analysis.
- We provide detailed feedback to the seller from the preliminary analyses. Based on customer priorities and goals, a timetable of execution is established. We then perform an on-site, loan-by-loan examination and due diligence with no financial obligation or commitment from the seller.
- Our database is updated based on the loan examination. Summary descriptions are provided to assist in understanding any nonstandard items in the portfolio, and we also highlight ways to make the salable package as large as possible.
- While we are conducting the underwriting, a sample purchase-and-sale agreement is provided for the seller’s review. This document is typically amended to include transaction-specific parameters.
- A firm offer to purchase the designated loans at a specific price is then presented.
- Upon execution of a transaction, we:
- Prepare all mortgage loan documents for delivery, including assignments and endorsement stamps for seller’s executions.
- Deliver all required documents to purchaser or document custodian, as specified.
- Assist in loan servicing transition and the establishment of investor reporting accounts.
- Finally, we provide all underwriting data obtained from field examinations to the seller. This detailed, loan-by-loan information may be used as a loan audit review to assist in future management decisions regarding the remaining residential loan portfolio that was not sold.
