Thursday, May 22, 2008

MIAC: Gearing up for west coast sales

Mortgage Industry Advisory Corp. (MIAC), New York, has hired Doug Mayers to be its vice president of sales and marketing. This is a great move for this company.

While MIAC has been providing valuation services on all manner of mortgage-related assets for many years, the company has never really formalized its marketing operation. Based in New York, the company principals and top sales execs basically know everyone on the Street and have been doing a great business there for 20 years, running mostly under the radar.

MIACs tools have become more important in an environment of increased volatility where the real value of these assets becomes more difficult to gage given significantly lower trading volume. The firm's proprietary software, MIAC Analytics™, is used in pricing, hedging and accounting for over $4.0 trillion dollars in mortgage assets each month. Even so, not enough people know what MIAC has to offer.

In his new position, Mayers will be engaging mortgage bankers and regulated depositories to expand their adoption and usage of MIAC’s integrated suite of risk management software, analytics, and advisory services, including DataRaptor®, MarketShield™, WinOAS™, DecisionServ™, ALM/VAST™ and BondAgent™.

Mayers has a broad range of experience in the secondary market, including positions in sales and sales management; whole loan and distressed asset pricing, acquisitions, trading, and platform development; and agency MBS pooling, delivery, and acquisitions operations. Mayers began his career in the industry with Lomas and Nettleton in 1985, and has also been associated with Fannie Mae, Countrywide, Bayview Financial, and Indymac. He was also a co-founder of Radius Mortgage Capital, a principal buyer of distressed mortgage assets. Prior to joining MIAC, Mr. Mayers was the owner of Hillcrest Mortgage Capital, a non-positioning trader of distressed mortgages.

He'll be concentrating his initial efforts on the west coast, according to the company.

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