SFIG Residential Mortgage Finance Symposium 2017
 
Tuesday 11/07/2017
8:00 am - 8:45 amGallery FoyerRegistration/Breakfast
8:45 am - 9:00 amGallery BallroomWelcome
Richard Johns, Executive Director, SFIG
Opening Remarks
Bob Corker, United States Senator, State of Tennessee
9:00 am - 9:45 am Keynote Address
Craig Phillips, Counselor to the Secretary, U.S. Department of the Treasury
9:45 am - 10:30 amGallery BallroomFireside Chat
Bill Emerson, Vice Chairman, Rock Holdings, Inc.
Barrett Burns, President & CEO, VantageScore Solutions, LLC
10:30 am - 10:45 amGallery FoyerCoffee Break
10:45 am - 11:30 amGallery BallroomPlenary Session: State of the Economy & Housing Fundamentals
Update on the state of the economy, with a focus on housing related indices

Moderator:
Ned Myers, Senior Vice President, Capital Markets & Government Market Leader, Black Knight

Panelists:
Christopher DiAngelo, Partner, Katten Muchin Rosenman LLP
James Egan, Executive Director, Morgan Stanley
Christopher Flanagan, Managing Director, Bank of America Merrill Lynch
Karen Weaver, Managing Director, Seer Capital Management
Darrell Wheeler, Global Head of Structured Finance Research, S&P Global Ratings
11:30 am - 12:15 pmGallery BallroomPlenary Session: Finding Relative Value in the Mortgage Sector in an Evolving Policy Environment
Investor-led discussion of relative value and the policy issues and regulatory actions that may put your investments at risk

Moderator:

Paul Nikodem, Managing Director, Head of US Securitized Products, Nomura

Panelists:
Kent Smith, Executive Vice President, Portfolio Management, PIMCO
Neil Aggarwal, Portfolio Manager & Head of RMBS, Semper Capital Management
Noah Funderburk, Portfolio Manager, Amundi Pioneer
William Robert Magee, Chief Investment Officer, Shellpoint Partners LLC
Jon Young, Vice President, Citigroup Global Markets
12:15 pm - 1:00 pmGallery FoyerLunch
1:00 pm - 1:50 pmGallery Ballroom ASingle-Family Rental Operating Models & Funding Strategies
Introductory panel comparing business models and discussing relative strengths and weaknesses

Moderator:

Yared Yawand-Wossen, Managing Director, Morgan Stanley

Panelists:

Christopher Hoeffel, Chief Financial Officer, CoreVest
Craig Krandel, Managing Director | Institutional Client Services, Amherst Holdings, LLC.
Gennady Gorel, Associate, Dechert LLP
Jonathan Ezrow, Chief Financial Officer, Pretium Partners, LLC
1:00 pm - 1:50 pmGallery Ballroom BFundamentals of Mortgage Finance: CRT- Financing Structures - CIRT/ACIS, CAS/STACR - Analyzing Credit and Prepayment Risk, Impact on Economics, Legal Structural Differences
Introductory panel to discuss the differences between CAS/STACR deals and CIRT/ACIS

Moderator:

Mary Stone, Managing Director, Bank of America Merrill Lynch

Panelists:
Richard Cooperstein, Risk Model Management Director, Andrew Davidson & Co, Inc.
Ben Walker, Senior Managing Director, Aon Benfield
Grant Bailey, Managing Director, Head of US RMBS, Fitch Ratings
Laurel Davis, Vice President, Credit Risk Transfer, Fannie Mae
Gina Healy, Vice President, Credit Risk Transfer, Freddie Mac
1:00 pm - 1:50 pmGallery Ballroom CRe-Performing Loans and Non-Performing Loans - The Changing Regulatory Landscape - Federal and State Level Oversight
What is the outlook for regulatory impact on the business of buying, managing, and funding these assets

Moderator:
Larry Platt, Partner, Mayer Brown LLP

Panelists:
Claudine A. Chen-Young, Partner, Katten Muchin Rosenman LLP
Scott Fergus, Chief Executive Office|Chief Investment Officer, National Community Capital LLC
Steve Ornstein, Partner, Alston & Bird LLP
1:00 pm - 1:50 pmWest Ballroom BThe Latest in Securitizing MSR's and Excess MSR's
Update on structural innovations and market conditions

Moderator:
Jon Van Gorp, Partner, Mayer Brown LLP

Panelists:
Baron Silverstein, Manager, Enterprise Risk Metrics, Bank of America Merrill Lynch
Vandy Fartaj, Chief Capital Markets Office, PennyMac
Dominic Obaditch, Director, Credit Suisse
1:55 pm - 2:45 pmGallery Ballroom AAn Update on Single-Family Rental Term Securitization
Latest in structural innovations and market conditions

Moderator:
Ronald Tarantino, Director, Credit Suisse

Panelists:
Kevin Dwyer, Senior Vice President, Morningstar Credit Ratings, LLC
Chris Jones, Risk Manager, Deutsche Bank
Stephen Blevit, Partner, Sidley Austin LLP
Dmitri Rabin, Vice President, Loomis, Sayles & Company
Jonathan Ezrow, Chief Financial Officer, Pretium Partners, LLC
1:55 pm - 2:45 pmGallery Ballroom BUnderstanding the Economic and Operational Building Blocks of Mortgage Servicing Rights, Parsing Responsibilities, and Financing Options and Limitations
Introductory panel discussing the key operational risks, legal risks, and financing options in the MSR market

Moderator:
Dan Goodwin, Director of Mortgage Policy, SFIG

Panelists:
Dominic Obaditch, Director, Credit Suisse
Tom Hiner, Partner, Hunton & Williams LLP
Meagan Signoriello, Counsel, Lowenstein Sandler LLP
Jing Isabel Liu, Director, Bank of America Merrill Lynch
1:55 pm - 2:45 pmGallery Ballroom CRe-Performing Loans and Non-Performing Loans: Comparison of Acquisition Platforms, Operating Models, Funding Strategies and Regulatory Concerns
Introductory panel comparing business models and discussing relative strengths and weaknesses

Moderator:
Lee Askenazi, Partner, Clifford Chance US LLP

Panelists:
Roelof Slump, Managing Director, Fitch Ratings
Asa Herald, Partner, Morgan, Lewis & Bockius LLP
Ryan Stark, Managing Director, Deutsche Bank
Peter Barkey, Managing Partner & Chief Investment Officer, Roosevelt Management Company
1:55 pm - 2:45 pmWest Ballroom BPractical Considerations for Servicing within a Securitization Framework
Discussion of how regulators and government entities interact with servicers, and how that may impact investment decisions

Moderator:
Steve Robertson, Partner, PwC

Panelists:
Michele Olds, Senior Vice President, Nationstar
Doc Walther, Senior Vice President, Head of Structured Product Sales, Wells Fargo Bank N.A
Michael Drayne, Senior Vice President, Ginnie Mae
Allison Botos Schilz, Counsel, Hunton & Williams LLP
2:45 pm - 3:35 pmGallery Ballroom AAn Update on Non-Performing and Re-Performing Loan Securitizations
Latest in structural innovations and market conditions

Moderator:
Claudine A. Chen-Young, Partner, Katten Muchin Rosenman LLP

Panelists:
Sue Valenti, Managing Director, Wells Fargo
Steve Mumma, Chairman and Chief Executive Officer, New York Mortgage Trust
Quincy Tang, Managing Director, Head of US RMBS, DBRS
Nicholas Mah, Portfolio Manager & Managing Director, Oak Hill Advisors
2:45 pm - 3:35 pmGallery Ballroom BPrivate-Label Securities Issuers’ Forum
Hear what has driven the recent increase in PLS issuance, as well as prospects for further growth

Moderator:
Stephen Kudenholdt, Partner, Head of Structured Finance, Dentons US LLP

Panelists:
Peter Sack, Managing Director, Credit Suisse
Ashish Jain, Senior Vice President, Capital Markets, SoFi
Pete Carroll, Executive Vice President Mortgage Policy & Counter Policy Relations, Quicken Loans
Matt Tomiak, Managing Director, Redwood Trust
2:45 pm - 3:35 pmGallery Ballroom CNon-Bank Servicer Domination: The Evolving Market
A discussion of what factors have fueled the relative growth of non-bank servicers, are they sustainable, and what particular risks they may pose

Moderator:
Ted Tozer, Senior Fellow, Housing Finance Program, Center for Financial Markets, Milken Institute

Panelists:

Erik D. Klingenberg, Partner, Dentons US LLP
Michael Drayne, Senior Vice President, Ginnie Mae
Kevin Silva, Manager, Enterprise Risk Metrics, FHFA
John Prendergast, Vice President Supervision, CSBS
2:45 pm - 3:35 pmWest Ballroom BGSEs' Evolving Role in Single-Family Rental
What the GSEs' goals in the Single-Family Rental Market are, and how they are pursuing them

Moderator:
Stephen Blevit, Partner, Sidley Austin LLP

Panelists:
Aaron Dunn, Multifamily Investor Relations, Freddie Mac
Beth O’Brien, Managing Director, CoreVest
Dana Brown, Director of Multifamily Debt and Equity Asset Management, Fannie Mae
Michael Peerson, Vice President, MBS Trading, Wells Fargo
3:35 pm - 3:55 pmGallery FoyerCoffee Break
3:55 pm - 4:45 pmGallery Ballroom AIntroduction to Reinsurers & the Impact of Recent Storms on Credit Risk Transactions
An introductory level panel led by reinsurance brokers to explain how credit risk transactions (CRT) helps (re)insurers diversify their portfolio, as well as a discussion of recent catastrophic events on CRT.

Moderator:
Rob Schaefer, Vice President, Credit Enhancement, Fannie Mae

Panelists:

John Tedeschi, Executive Vice President, Guy Carpenter
Ben Walker, Senior Managing Director, Aon Benfield
3:55 pm - 4:45 pmGallery Ballroom BRe-Performing and Non-Performing Loan Markets: GSEs and FHFA Perspectives on Where They've Been and Where They're Going
Discussion of short-term and long-term objectives on disposition strategies of GSEs and governmental agencies

Moderator:
Peter Sack, Managing Director, Credit Suisse

Panelists:
Bob Ives, Senior Vice President, Fannie Mae
Adama Kah, Vice President Loan Portfolio Management, Freddie Mac
Andrew Varrieur, Associate Director, Division of Housing Mission and Goals, FHFA
Scott Fergus, Chief Executive Officer | Chief Investment Officer, National Community Capital LLC
3:55 pm - 4:45 pmGallery Ballroom CCFPB Closed-Door Session (Note: Closed to Press)
The CFPB is interested in your input on issues like:

Which specific regulations are impeding access to credit
How ATR and risk retention may be helping or hindering your market
Should QM be expanded to Jumbo Loans
Concerns regarding QM patch expiration
How can regulators align interests in PLS (originators, servicers, trustees, investors)?

5:00 pmGallery FoyerCocktail Reception
 
Wednesday 11/08/2017
8:00 am - 8:45 amGallery FoyerRegistration/Breakfast
8:45 am - 9:00 amGallery BallroomWelcome
Howard Kaplan, Senior Partner, Deloitte & Touche LLP; Chairman of SFIG
9:00 am - 9:45 amGallery BallroomKeynote Address
Michael R. Bright, Executive Vice President and Chief Operations Officer, Ginnie Mae
9:45 am - 10:15 amGallery BallroomKeynote Address - “Economic Outlook in the NEW World Order” (Note: Closed to Press)
Trish Regan, Anchor of FOX Business Network’s “The Intelligence Report,” & Author
10:15 am - 10:30 amGallery FoyerCoffee Break
10:30 am - 11:30 amGallery BallroomPlenary Session: State of GSE Reform: A Think Tank Discussion
Discussion of current reform models in play and their relative merits

Moderator:
Faith Schwartz, Senior Advisor, Accenture

Panelists:
Andy Davidson, President, Andrew Davidson & Co, Inc.
Ted Tozer, Senior Fellow, Housing Finance Program, Center for Financial Markets, Milken Institute
Landon Parsons, Senior Advisor, Moelis & Company
Dan Goodwin, Director of Mortgage Policy, SFIG
Jim Parrott, Owner, Falling Creek Advisors; Fellow, The Urban Institute
11:30 am - 12:00 pmGallery BallroomPlenary Session: Fannie Mae Remarks
Join Fannie Mae Executives and a key lender partner as they discuss efforts to simplify the mortgage experience for lenders, servicers, and investors. With a focus on certainty, transparency, and simplicity, Fannie Mae shares their vision for leading the digital transformation in the industry and how these efforts enhance its credit risk management capabilities.

Panelists:
Renee Schultz, Senior Vice President for Capital Markets, Fannie Mae
Katrina Jones, Vice President for Marketing Single-Family Business, Fannie Mae
Trish Maraski, Vice President of Loan Manufacturing Optimization, New Penn Financial, LLC
12:00 pm - 12:45 pmGallery FoyerLunch
12:45 pm - 1:35 pmGallery Ballroom AEmerging Use of Big Data in the Mortgage Market
Discussion of what big data is and its use in predictive modeling

Moderator:
Mike Trapanese, Senior Vice President, Strategy and Alliances, VantageScore Solutions

Panelists:
John Heck, Real Estate and Lending Executive, IBM
Michael Bradley, Senior Vice President, Single Family Models and Analytics, Freddie Mac
Kevin Walsh, Chief Commercial Officer, PeerIQ
Dapeng Hu, Managing Director, BlackRock
Dan Jones, Vice President of Business Intelligence, Quicken Loans
12:45 pm - 1:35 pmGallery Ballroom BInvesting in CRT and Reinsurance Notes - Similarities and Differences
Investors and Traders discuss investment considerations and relative value in these specific GSE market

Moderator:
Eknath Belbase, Mortgage Strategy Director, Andrew Davidson & Co, Inc.

Panelists:
Andrew Rippert, Chief Executive Officer, Global Mortgage Group, Arch Capital Group Ltd.
Joseph Monaghan, Executive Managing Director, Aon Benfield
Kwaw de Graft-Johnson, Director, Credit Suisse
Adam Budnick, Managing Director, AIG
12:45 pm - 1:35 pmGallery Ballroom CRMBS Disclosure and Reporting – Best Practices in PLS
Revisiting Reg AB II
Discussion of disclosures and reporting – at issuance, and ongoing

Moderator:
Tim Willis, Managing Director, RiskSpan

Panelists:
Natasha Aikins, Director, Fitch Ratings
Charlie Sweet, Partner, Morgan, Lewis & Bockius
Bob Behal, Principal, Vanguard
Matt Tomiak, Managing Director, Redwood Trust
12:45 pm - 1:35 pmWest Ballroom BGSEs Securitization and Single Security Update
Hear a GSE update on their key securities programs, as well as progress to date on the Single Security
FHFA will share their perspective and market milestones on the journey to a new TBA market


Panelists:
Ravi Shankar, Senior Vice President Investments Investments & Capital Markets, Freddie Mac
Renee Schultz, Senior Vice President Capital Markets, Fannie Mae
Mary Ellen Taylor, Associate Director, Division of Conservatorship, FHFA
1:40 pm - 2:25 pmGallery Ballroom AMaximizing Efficiency in the Mortgage Ownership Chain – Reducing Costs and Protecting Data Security
Discussion of risks and benefits of using blockchain and cloud computing in the ownership chain, contracts and data security

Moderator:
Suhrud Dagli, Co-Founder, RiskSpan

Panelists:
Patrick Tadie, Group Vice President of Global Capital Markets, Wilmington Trust
Lewis Cohen, ‎Partner, Hogan Lovells US LLP
Dzmitry Maroz, Senior Manager, Deloitte & Touche LLP
Tiana Laurence, Co-founder, Factom, Inc.
1:40 pm - 2:25 pmGallery Ballroom BBalancing Credit Expansion with Securitization Constraints
Increasing non-QM lending in the current market environment

Moderator:
Philip Hong, Associate Analyst, Wells Fargo

Panelists:
Sagar Kongettira, Senior Vice President, US RMBS, DBRS
Rachel Noonan, Director, Fitch Ratings
Gene A. Spencer, Senior Vice President, Home Ownership Preservation Foundation
John Holahan, Partner, Dentons US LLP
1:40 pm - 2:25 pmGallery Ballroom CFinalizing Materiality and Enforcement in RMBS 3.0
Latest updates in materiality and enforcement

Moderator:
Eric Kaplan, Director, Housing Finance Program Company, Milken Institute – Center for Financial Markets

Panelists:
Jeff Johnson, Partner, Morgan, Lewis & Bockius LLP
Ed DeVito, Senior Director, Kroll Bond Rating Agency
Don Simon, Chief Operating Officer, Pentalpha Surveillance
Jason Kravitt, Partner, Mayer Brown
1:40 pm - 2:25 pmWest Ballroom BGSE Issuer Sponsors Presentation: Single Security – Technical Discussion
Understand how Bloomberg, Tradeweb, and FICC are using their experiences with recent large industry change initiatives to get ready for the Single Security;
Find out tools the GSEs have to help you prepare;
Bring your questions and come hear what steps you need to take now
.

Panelists:
Barbara Pak, Vice President Securitization, Freddie Mac
Stephanie Milner, Director, Underwriting, Pricing & Capital Markets, Fannie Mae
Tim Kviz, Vice President Accounting Policy & External Financial Reporting, Freddie Mac
Nick Botta, Executive Director, Product Management, FICC
Jackie Jozefek, Business Manager, Bloomberg Structured Cash Flows Products
Courtney van Fechtmann, Director, MBS Market Manager, Tradeweb
2:25 pm - 3:20 pmGallery Ballroom AEmerging Technologies & Their Impact on the Secondary Mortgage Market
Panel of technology innovators to discuss emergent technologies in broad strokes and their potential impact on the mortgage market – specifics will be left to panel member

Moderator:
Lawrence Ruffrano, Visiting Scholar, Stanford

Panelists:
Stephanie Perez, Project Lead, R3
John Pigott, Founder/ex-CEO, Bondpoint
Michael Ahern, Principal, Sternhell Group

Gallery Ballroom BRMBS 3.0 Update Panel
Update Membership on SFIG 3.0 workstreams

Moderator:
Eric Kaplan, Director, Housing Finance Program Company, Milken Institute – Center for Financial Markets

Panelists:

Dan Goodwin, Director of Mortgage Policy, SFIG
Stephen Kudenholdt, Partner, Head of Structured Finance, Dentons US LLP
Michele Olds, Senior Vice President, Nationstar
3:20 pm Conference Concludes