MortgageIT — Investor Presentation (November 2005)
21 slides from MortgageIT's investor presentation, Nov 29, 2005
Slide 1: MortgageIT Holdings, Inc.
Mortgageil HOLDINGS, INC.
Slide 2: Disclaimer
Disclaimer The information contained herein has been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. Any offer of securities is and shall be made pursuant
Slide 3: Corporate Overview
Corporate Overview
Slide 4: Corporate Structure
Corporate Structure Real Estate Investment Trust (REIT) Taxable Mortgage Banking Subsidiary (TRS) Wholesale Correspondent Wholesale Non-Prime Retail
Slide 5: Today
Today Mortgage REIT with a nationwide platform that originated more than $13 billion in 2004 and $20 billion through the first three quarters of Headquartered in New York City with 2,172 employees in 58 branches across 23 states nationwide Completed an Initial Public Offering of $175 million on NYSE
Slide 6: Current Developments, Results & Guidance
Current Results & Guidance Developments Paid first full run rate dividend in 1Q:05 of $0.48, paid $1.44 YTD in 2005, and guided to 48 cents in the 4Q Issued and sold $75 million in private placements of trust preferred securities Issued $150 million of equity in secondary offering Issued $4.0 billio
Slide 7: Mortgage Origination Platform (TRS)
Mortgage Origination Platform (TRS)
Slide 8: Loan Production Growth
Loan Production Growth Source: Mortgage Bankers Association and MortgageIT Industry Quarterly Y/Y Growth (%) MortgageIT Quarterly Y/Y Growth (%)
Slide 9: 3Q:05 Originations: National Origination Platform
3Q:05 Originations W (6) W (3) W (3) W W W W W W W W R (11) W W (2) R W R CL W W SP SP SP SP SP SP SP SP Balanced Footprint Mitigates Risk W National Origination Platform > $100 mm $50 mm to $100 mm $25 mm to $50 mm < $25 mm R (2) W
Slide 10: Balanced, Diversified Lending Maximizes Adaptability
Balanced, Diversified Lending Maximizes Adaptability Origination Mix Conforming Government Jumbo Home Equity/Seconds Non-Prime Alt A Correspondent Retail Wholesale Non-Prime Wholesale Prime Based on 3Q:05 Origination Mix
Slide 11: MortgageIT REIT Portfolio
MortgageIT REIT Portfolio
Slide 12: High Quality Portfolio
High Quality Portfolio 92% owner occupied Average loan size of $289K No loans over $1.5 million Loans originated in 47 states Averages based on original balances and characteristics of 7 MHL securitizations through November 2005 Our strategy is to build a low credit loss portfolio capable of providi
Slide 13: Securitization Characteristics
WA Sec. Portfolio 2005-5 2005-4 2005-3 2005-2 2005-1 2004-2 2004-1 MHL Securitizations (1) Securitization Characteristics (1) Original balances and characteristics Aggregate Size ($MM) 5,489 1,017 Avg. Loan Balance ($M) WA Coupon (%) 5.49 5.87 5.72 5.80 5.40 5.16 5.10 5.36 WA FICO LTV (%) 74.1 75.0
Slide 14: State of the Industry
State of the Industry
Slide 15: Gross Spreads on Portfolio Loans
Gross Spreads on Portfolio Loans Gross Spread between Hybrid ARM WAC and One Month LIBOR
Slide 16: Portfolio CPR Speeds
Portfolio CPR Speeds Actual vs Initial Pricing Prepayment Speed - MHL First Securitization - WAC of Security 5.36%
Slide 17: ii 104.00 109.50 109.00 102.50 102.00 101.50 101.00 00.00 Feb-06 Mar-06 P08 Mays n-05
ii 104.00 109.50 109.00 102.50 102.00 101.50 101.00 100 50 100.00 Feb-06 Mar-06 P08 Mays n-05 mio Aug-05 Sep-05 006 Now
Slide 18: Industry Origination Volume
Industry Origination Volume (MBA estimate for 2005) Origination Volumes Have Defied Predictions of Downturn
Slide 19: Strategic Positioning of MortgageIT
Strategic Positioning of MortgageIT
Slide 20: MortgageIT's Advantage in Current Environment
MortgageIT’s Advantage in Current Environment
Slide 21: Questions
Questions
MortgageIT Holdings — Investor Presentation (November 2005) on 6ix