Valuation Services
Hanover Capital's team of mortgage specialists offers mortgage market participants independent valuation services for mortgage portfolios and mortgage securities. In today's environment of increased scrutiny of corporate governance, Hanover Capital offers valuable assistance to companies seeking an independent assessment of the value of the mortgage assets they own. In addition, we assist clients considering the purchase of mortgage assets to evaluate the appropriate price to bid to the seller.
Our clients include government agencies, mortgage lenders, portfolio lenders, mortgage warehouse lenders and mergers and acquisitions advisors.
Our active participation in the residential mortgage market allows us to offer market "color" to our clients on a wide variety of mortgage products. We combine our extensive market experience with analytical models to provide an expert valuation for our clients.
Whole loan portfolio valuations range the spectrum of mortgage products including residential fixed and ARMs, conventional conforming, FHA/VA, jumbos, Alt-A, sub-prime, home equity lines of credit, scratch and dent, sub- and non-performing and manufactured housing. Other mortgage products valued include subordinate and residual securities, commercial loans, consumer loans and credit card portfolios.
Valuation Assignments
Large Bank Portfolio
- Engaged by Bank client to value the mortgage portfolio of target bank in connection with acquisition. Assets valued included non-performing, scratch-and-dent and performing A- residential mortgages.
- Assignment ultimately led to $170 million of sales in 17 transactions over the past year
HELOCs and Closed-End Seconds
- Engaged by a leading financial services company to provide ongoing valuations and purchase advice on home equity lines of credit and closed end second mortgages
- Provided consulting to another leading finance company on the valuation of "flow" sales of CES and HELOCs in connection with the acquisition of a retail and Internet mortgage banking company
Jumbo Prime Mortgages
- Daily valuations performed of fixed and adjustable rate residential mortgages for brokerage customers, including all types of Hybrid ARMs
Sub-prime and Manufactured Housing
- Weekly sales of sub-prime residential mortgages through competitive bid using Hanover Capital website: Over $1.2 billion sold in 2004
- Over $1.7 billion of manufactured housing contracts valued and sold in 2004
Securitization Residuals
- Performed quarterly valuations of securitization residuals for a sub-prime/scratch-and-dent investor
- Valuations used by the company's lender to determine advance rates
- Valued and sold over 20 residuals from Superior Bank FSB as advisor to the FDIC in 2003
Commercial Mortgages
- Valued a wide range of commercial mortgages including office, industrial, retail, multi-family, hotel/motel, strip shopping, single-use service business properties, etc.
