PMC 2008 Agenda Monday


Monday June 9th

8:00 AM – 5:00 PM		Registration Open


12:00 PM		Ribbon cutting - Exhibit Hall Opens


2:00 PM - 2:15 PM		Conference Begins: Opening Remarks


2:15 PM - 3:15 PM		OFHEO Code of Conduct – Understanding the Code
		This session will offer an in-depth review of the new OFHEO and GSE “Home Valuation Code of Conduct” resulting from their recent agreement with the New York Attorney General’s office. What is the basis of the Code? How was it developed? What issues is it attempting to correct? Who is really impacted by the Code? Why is the Code necessary? How will the Code change existing business relationships? Alfred M. Pollard, General Counsel, OFHEO Supervising the Office of General Counsel includes work on regulatory matters affecting the two housing government-sponsored enterprises subject to OFHEO oversight— Fannie Mae and Freddie Mac, on in-house legal issues and on relationships with other government agencies and the White House. Pollard also is a member of the advisory team to the Director. Major issues for the legal department include federal regulation of Fannie Mae and Freddie Mac capital, corporate governance, internal controls and accounting as well as legal developments affecting mortgage markets and legal representation of OFHEO. Jacquie Doty, Director Collateral Policy, Freddie Mac Jacquie Doty is the Director of Collateral Policy at Freddie Mac where she is responsible for setting appraisal and AVM policies to manage property valuation risk. She has been with Freddie Mac for more than 10 years. Robert Murphy, Sr Bus Manager Credit Policies & Controls, Fannie Mae Robert joined Fannie Mae in 2000. He has an extensive background in the real estate appraisal field. Robert’s current areas of responsibility at Fannie Mae include collateral valuation policy guidelines, collateral valuation strategy, automated valuation policies and special projects involving collateral issues from both a practical and policy perspective. Robert is former AI USPAP and residential appraisal course instructor. Chris Dickerson, Chief Compliance Examiner, OFHEO A ten-year OFHEO veteran, Dickerson has served as the agency’s first Chief Compliance Examiner in charge of the Office of Compliance, established in December 2003. Dickerson played a key role in the special examinations of Fannie Mae and Freddie Mac and in all matters pertaining to the safety and soundness of the Enterprises. Dickerson will provide oversight and ensure coordination among all supervisory offices: Examinations, Capital Supervision, Chief Accountant, Compliance, Risk Analysis & Financial Performance, Policy and Research, and Policy, Systems & Quality Assurance Darius Bozorgi, President CEO, Veros Darius has several years experience in the world of predictive technology based decision-support applications. He serves on the Board of Directors of REIPA and was Chairman of CATC. Darius co-founded Veros after spending most of his early career practicing law in Chicago, where he specialized in civil litigation. Darius received his J.D. from Chicago-Kent College of Law and his undergraduate business degree from the University of Michigan, Ann Arbor.

3:15 PM – 4:30 PM		Session One: Loan Product Development
		This panel session will focus on loan product development, how to measure the risk of new product offerings, and what type of technologies can be used to optimize expected loan performance in the initial design phase. What makes a “risky” loan? Can forward thinking analytics mitigate some of that risk? How can AVM’s and rules-based enterprise decisioning platforms be used in product/loan development? Can model efficiencies and pricing be factored into loan programs to better measure and anticipate risk? How to determine the need for the appropriate collateral valuation and risk metrics. Is it more than one? Can a risk-based pricing approach be implemented effectively? How does a lender determine what product they are going to offer, what its credit parameters will be and what level of risk they are willing to assume? How to design loan products for maximum marketing effectiveness? Bill Shuey, VP Valuations Manager, Goldman Sachs Bill has been with Goldman Sachs for 2 years. He is responsible for establishing policies and methodologies for real estate assets purchased, identification of areas and trends impacting real estate values, and evaluating vendors and their products. Bill has worked in the real estate sector for 22 year and is a graduate of Purdue University. When not looking at real estate values, Bill spends time with wife and 5 children. Perry Minas, VP, Wells Fargo Bank Perry Minas is currently a Vice President in the Corporate Credit Administration Department at Wells Fargo Bank. His primary responsibilities include the management of Automated Valuation Models and other alternative evaluation products and processes. This role encompasses research and investigation, validation, testing, approval, implementation, monitoring, policy and other related functions. Dr. Keith Carson, Senior Consultant Financial Services, TransUnion Dr. Carson’s has served as the Chief Executive Officer of various banks and insurance companies, as well as serving as an Executive with the Federal Deposit Insurance Corporation. Dr. Carson’s experience at the executive level includes responsibilities for the structuring, sale and servicing of MBS and CMBS portfolios.

4:30 PM - 4:45 PM		Refreshment break


4:45 PM - 6:00 PM		Session Two: Loan Origination
		This panel session will discuss the use of risk based management systems and analytics to place the evaluation of collateral risk and credit risk on a level playing field in order to enhance underwriting and expected loan performance. Once the product has been developed and credit parameters set, what is the decision making process on marketing the product? What is the effective use of AVMs, fraud tools and collateral scoring systems to increase marketing effectiveness? Can preference table logic be effectively applied to marketing portfolios? At what point do lenders retreat in their originations due to market conditions and portfolio experience (i.e., EPD, FPD, foreclosures, etc.)? Can valuation forecasting and related analytics be used to determine geographic availability of loan product and LTV limits? Is it viable to manage risk using LTV ratios only? What are the regulatory issues? How can compliance technology be applied? Would licensing of originators (including alternative origination channels) solve any of the issues in today’s market? Can information and data on other mortgage participants be effectively integrated into loan scoring and workflow management systems? How does this affect compensation structures? Independence in collateral valuation selection and validation. Are there trade-offs when bundling settlement services? How can collateral risk be evaluated in the origination process? Is collateral scoring accompanied with credit scoring a viable measurement tool for overall loan scoring? Should the risk of the market and the collateral be included in the risk analysis of the transaction? If credit risk had not been the sole lending criteria would we be facing the current implosion? Chris Whitley, Valuations Manager, Wachovia Chris Whitley has been with Wachovia for 14 years and is currently VP in Wachovia's Consumer Risk Management department. He is responsible for facilitating a cross-functional/cross-channel Collateral Valuation Committee which is tasked with identification, testing and validation of alternative valuation products and cascades, establishing minimum valuation standards across the Consumer Bank, promoting consistency and quality in valuation processes, and developing general valuation policy for all consumer real estate lending channels Susan Allen, Director, Collateral Risk Management, GMAC-ResCap Susan Allen is the Director of Collateral Risk Management for GMAC-RFC, a leading private issuer of mortgage-backed securities (MBS) and mortgage-related asset-backed securities (ABS), and the No. 1 warehouse lender in the United States. Susan is responsible for RFC’s collateral valuation approach in originations, loan purchases, diligence, securitization, and forecasting. Her responsibilities include the testing and implementation of AVMs and other collateral valuation methods. Darius Bozorgi, President & CEO, Veros Darius has several years experience in the world of predictive technology based decision-support applications. He serves on the Board of Directors of REIPA and was Chairman of CATC. Darius co-founded Veros after spending most of his early career practicing law in Chicago, where he specialized in civil litigation. Darius received his J.D. from Chicago-Kent College of Law and his undergraduate business degree from the University of Michigan, Ann Arbor.


7:30 PM -10:00 PM		PMC Welcome Party on the beach
		Start the 8th annual Predictive Methods Conference with an evening of the unmistakable sounds of the music made famous by the likes of Jimmy Buffet, a dazzling fire and light display and the relaxing spirit of a tropical island attitude. Veros’ PMC pulls out all the stops for a welcome party on the beach for all the attendees of the 2008 Predictive Methods Conference. Enjoy amazing acts of magic and fire while sipping on delicious tropical drinks and dancing to the music of the Caribbean as our way of kicking off the most important conference we have ever hosted. Get ready for an evening of barefoot fun, dancing, awe and music as a guest of Veros and the Predictive Methods Conference.