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Founded in 1996 by a team with decades of experience in capital markets, mortgage banking, and derivative hedging, United Capital Markets, Inc.
(UCM) is the leading provider of innovative risk management services focused primarily on hedging mortgage servicing rights (“MSRs”). UCM has become one of the mortgage industry’s most trusted advisers, providing a range of strategic consulting services.
Each member of UCM’s team has thirty-plus years of MSR hedging experience. One led the development of the very first servicing-specific hedge product. Another developed the first optimizing MSR hedge calculation program, HedgeCalc™. Another testified before the Financial Accounting Standard Board, leading to current gain on sale and fair value accounting. Another led the team hedging the largest-ever MSR portfolio, with an unpaid principal balance exceeding $1 trillion. The team also has deep operational experience in mortgage banking, servicing and related operations.
Austin Tilghman
President and Chief Executive Officer
UCM serves banks and independent mortgage bankers who own MSRs and are concerned with income statement and balance sheet volatility.
UCM provides risk management services to companies ranging from a few hundred million to over one hundred billion in notional MSR balances.
UCM offers a unique view on hedging MSR risk and a proven track record of 20+ years of positive results for its clients. The company’s approach to hedging is unique in the industry and uses only the most liquid and predictable instruments to hedge the aggregated MSR price risk since disaggregation adds complexity and delivers poor results. UCM’s leadership and clients have found this approach to be more effective than using TBA (to-be-announced) mortgage-backed securities.
In addition to MSR hedging, UCM provides insights into all phases of the mortgage
lending business.
UCM consultants address a full range of client issues including capital structure analysis, gain-on-sale maximization, operations, innovative ownership structures and exit strategies.
No other part of a UCM client’s mortgage banking business has a higher potential return on assets than the servicing portfolio. This return goes right to the client’s bottom line profitability. UCM protects and enhances those profits.
