PMC 2008 Agenda Tuesday


Tuesday June 10th


7:00 AM - 9:00 AM		Technology Demos

7:00 AM - 9:00 AM		California Continental Breakfast


8:00 AM - 5:00 PM		Registration Open


9:00 AM - 9:50 AM		Keynote: Dann Adams, President, Consumer Information Solutions, Equifax
		Dann Adams will present an up-close look at the U.S. credit economy from the perspective of the nation's leading credit reporting company. Adams will provide insights into the latest trends in the mortgage market, and outline strategies that will help providers succeed in the current economic climate.

10:00 AM – 11:30 AM		Session Three: Quality Control & Valuation Review
		This panel session will discuss the use of automated tools and decision platforms used to enhance valuation review and collateral risk management. Is it important to consider other approaches to value – i.e., AVM’s. What about other valuation and statistical tools that can be applied in parallel with the traditional appraisal report? Should the industry adopt national scoring standards for service providers? What is valuation independence? Is it appropriate to have valuations reviewed by providers or management companies who conducted the initial valuation? What should be reviewed and when should it be re-valued? Is it appropriate to only “review” and judge the appraisal report? How is mortgage fraud being identified and managed? Is fraud only an origination issue? Does the inclusion of subprime non-performing assets in prime pools constitute fraud? Stephen Conlin, SVP Risk Management, Bank of America Steve Conlin is Vice President, Manager Risk Assessment & Standards for Consumer Real Estate Settlement Services for Bank of America. CRESS provides automated, alterative and traditional valuation services to support the Consumer Real Estate Group of the bank. David Rasmussen, SVP Sales, Veros Real Estate Solutions David Rasmussen has worked with Automated Valuation Models (AVMs) and mortgage related analytic products for several years. David joined Veros Software during the fall of 2002 and is responsible for the sales and distribution of Veros’ mortgage related products. Jeff Dickstein, Chief Appraiser, Pro-Teck Mr. Dickstein has been in the mortgage industry for 26 years, 17 of those years as an appraiser. Most recently, he held the position of VP, Director of Appraisal for Capital Markets with Peoples Choice Home Loan. His focus for the last five years has been on Post Closing Appraisal Review for Investor Due Diligence, REO, Loss Mitigation and Fraud. Debbie Brown, EVP, Risk Management Operations, Countrywide Bank, FSB Debora Brown is the EVP of Risk Management and Operations Support for CSC’s Acquisition, Securitization and Sales functions. She oversees the due diligence process associated with credit underwriting and compliance, property valuation, collateral, and repurchase claims. Her operations support includes “data” collateral analytics, servicing transfers, and office administration for the Transaction Management Group.


11:30 AM - 1:00 PM		Lunch Speaker: Ben Mezrich, author of Bringing Down the House
		The Numbers Don't Lie: Harnessing the Power of Numbers and Statistics to Grow your Bottom Line. Presentation on the Legendary M.I.T. Blackjack Team that beat the system in Vegas. Mezrich’s #1 National Bestseller “Bringing Down the House: The Inside Story of Six MIT Students Who Took Vegas for Millions” inspired the upcoming movie “21,” starring Kevin Spacey and Kate Bosworth to be release Spring of 2008.

1:00 PM – 1:30 PM		Dessert and Cappuccino


1:30 PM – 2:40 PM		Session Four: Loan Servicing
		My, What a Lovely Fall! Managing collateral risk after the close. This panel will discuss the use of predictive analytics, across a multitude of performance metrics, to boost productivity and profitability in servicing and portfolio management. Should AVMs and collateral scoring methodologies be used to more accurately predict and more frequently update loan loss reserve estimations? How active is a servicing group? Do they buy or develop forecasts on markets and trends to mitigate or understand risk? Is collections a necessary evil or a value added process? How often does the servicing group review the concentrations in their portfolio related to market conditions and target loans for specialized handling? Is this just a process or a proactive part of the institution? How often should portfolios be marked-to-market? Should forecast or fraud data be included in the portfolio re-valuation? What types of data are available in servicing data warehouses? Can it be used in the lending institution? Michael Freeman, EVP Consumer Credit Risk Executive, First Horizon National Corporation Mike is responsible for consumer credit risk management for First Tennessee Bank and First Horizon Home Loan Corporation; including all underwriting, collections, modeling and analytics, risk reporting, policy governance, portfolio optimization and management. Jon Davis, President, FIS Valuation Solutions Jon Davis is President of FIS Hansen Quality, a division of Fidelity National Information Services. Davis began his appraisal and valuation career with TRW/Hansen and Associates in 1989. Specializing in the valuation of complex residential properties, HUD foreclosures, and residential income properties, he received awards and recognition for appraisal quality and exceeding performance standards. Rex Malott, SVP of Valuation Risk, Countrywide Bank, FSB check back for bio Ingrid Beckles, Vice President Mortgage Services, Freddie Mac Ingrid Beckles is responsible for developing and implementing general servicing, loss mitigation, foreclosure and REO strategies, processes and technologies that enable Freddie Mac to manage credit losses and effectively manage cash flows, investor reporting and transaction accounting activities. Ingrid holds a B.S. in Accounting & Technology and Management from the University of Maryland.


2:50 PM - 4:00 PM		Session Five: Foreclosure and REO
		My pain level isn’t that great! Using Risk-Based Default Management (RBDM) to reduce foreclosure rates. This panel session will address the use of collateral analytics in default management to increase profitability. How long do institutions move through the work-out process before they decide foreclose? Using analytics more proactively to increase the opportunity for work-outs and keep the borrower in their home. Is foreclosure an outdated process, and should the institutions be using real estate firms to get the borrowers out of the loan/collateral without having to take it onto their books? Are estimated market values being determined objectively? Who is responsible for making the determination? How can default management be automated more objectively with the use of default AVMs or REO Indexing? Being proactive in managing your risk – using RBDM to gauge your portfolio collateral risk and make effective decisions on work-outs, charge-offs and foreclosures. Where will the streamlining of this process happen? At what point in the process should forecasting tools be applied to the repurchase or work-out decision? Darius Bozorgi, President & CEO, Veros Real Estate Solutions 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. James Berkovec, VP Models and Methods, Freddie Mac Dr. James Berkovec is responsible for governance, review, and oversight of models and model use within Freddie Mac. Dr. Berkovec’s previous experience at Freddie Mac includes leading a model development group focused on credit risk analytics. Prior to starting at Freddie Mac, he was an economist at the Board of Governors of the Federal Reserve System, and an economics professor at the University of Virginia. John Burnett, Head of Valuations, Wilshire Credit John has 15 years of experience in the Financial Services industry. His background includes management positions in Foreclosure, REO and Real Estate Valuations. Today, John is accountable for all real estate valuations on defaulted loans serviced by Wilshire Credit Corporation.

4:00 PM - 4:15 PM		Refreshment break


4:15 PM - 5:30 PM		Session Six: Secondary Marketing/Servicer Sales
		This panel session will discuss portfolio valuations, securitization, the role of Wall Street and the GSEs, and the mitigation of 3rd party risk in the secondary markets. How active will the secondary market be going forward? Will there be more or less investors in collateral based lending? What is the affect of increased collateral-based lending on private institutional buyers (i.e., insurance firms, MBS securities dealers, etc.)? How will the GSEs change as a result of today’s market crisis? Will there be an end to sales and retained servicing, with buyers demanding to service and monitor their own loans? Should conforming loan limits be raised permanently? What are appropriate conforming loan limits? What are the appropriate formulas for the determination? What are expectations of investors regarding collateral risk data and expected loan performance? What are they getting now? Would more data make a difference in comfort levels and buying activity? How are loans backed by different collateral valuation methods performing across various loan vintages? Susan Kulakowski, Chief Knowledge Officer, DBRS Susan Kulakowski, Chief Knowledge Officer, Dominion Bond Rating Susan Kulakowski has been working in RMBS/structured finance research since 1993. At Dominion Bond Rating Service, she built the first open source loan-level credit enhancement model released without charge to the RMBS community. Her past experience includes RMBS models used by Duff & Phelps Credit Rating Co. and Fitch Ratings. Jacquie Doty, Collateral Policy Director, 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. Andre Gao, Director Home Price Model, Fannie Mae He has more than 15 years experience in financial industry, of which 7 years are in mortgage and AVM fields. Currently he leads a team with responsibilities for research and development of Fannie Mae’s proprietary AVM models, home price indices, and the home price forecast models for valuation of mortgage products. Maria Bulycheva, Associate Director, Standard and Poors U.K. Maria has more than 8 years of experience in credit risk modeling and more than 6 years of experience with AVMs. Maria has worked on the AVM development side while she worked at Fannie Mae and on the user side when she worked at JPMorganChase. At Fannie Mae she was involved in numerous research projects on improving APS, automated property fraud detection tools, appraisal bias research, and other property valuation related projects. At JPMorganChase she focused on AVM testing and cascade building, and testing accuracy of other valuation tools. Recently Maria has joined Standard and Poor’s in London as an Associate Director of RMBS/ABS quant analytics team.


5:30 PM - 7:00 PM		Exhibit Hall Event: Cocktail Reception and Drop your card Give-a-way
		Join your fellow delegates as we mix and mingle with cocktails and appetizers. The highlight of this reception is always the exhibitor giveaway – last year we had approximately $5,000.00 in prizes! Winner must be present to win!

8:00 PM - 10:00 PM		PMC Annual Texas Hold’em Tournament & Casino Night
		This event gets bigger and bigger every year! Revel in the excitement of friendly competition and the thrill of gaming topped off with hors deurves, entertainment and hosted bar. Good Luck!