As the megabanks continue to write down the value of their residential servicing portfolios, now may be the best time ever to buy housing receivables, according to a new report from Mortgage Industry Advisory Corp. (MIAC), New York.

In a research note to clients, MIAC senior vice president Mike Carnes wrote, that MSR values “remain at historically low levels, creating one of the best buyer’s markets in history.” Carnes adds that servicing rights “are intrinsically worth more than current market values due to supply/demand dynamics and an overly risk-sensitive market.”

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