We’re only a few days away from the MBA’s Capital Markets Conference. Attendees, don’t forget to pick up your badges, or else! (Speaking of interesting clips, watch U.S. Secretary of State Antony J. Blinken launch the Global Music Diplomacy Initiative; there is a rumor he’ll be on the stage at the next MBA conference.) One of the big topics next week will be servicing rights: transferring, valuing, and managing. The price that borrowers see on rate sheets is a combination of several factors, including mortgage-backed security prices and the price of servicing (which doesn’t always equal the value). Unlike securities backed by Agency mortgages, where there’s an active liquid market with screen prices, in pricing servicing there is no screen to go to. So, a model is employed, and those involved look at the fair market value versus Fair Market Value. (Yes, there is a difference.) A model may value servicing at one price, but it may trade differently resulting in a variance. The market could price a servicing package higher than fair market value, but not often. (Found here, this week’s podcasts are sponsored by LoanCare. The mortgage subservicer is known for delivering superior customer experience through personalization and convenience. Its award-winning portfolio management tool, LoanCare Analytics, supports MSR investors with a focus on customer engagement, liquidity, and credit risk. Hear an interview with Performance Experts Tim Braheem on what originators can be doing right now to get more referrals, including a free script to help close more deals.)