PMC 2007 Agenda Monday


Monday June 11th

1:00 PM – 1:50 PM		Keynote: James B Lockhart lll Director of OFHEO – Office of Federal Housing Enterprise Oversight James B. Lockhart III is the Director of the Office of Federal Housing Enterprise Oversight (OFHEO). He was nominated by President George W. Bush to become the Director of OFHEO, and was confirmed by the U.S. Senate on June 15, 2006. Mr. Lockhart also served as Deputy Commissioner of Social Security, a Presidentially-appointed and Senate-confirmed position. He was the Agency’s Chief Operating Officer, Secretary to the Social Security Board of Trustees and a member of the President’s Management Council and its Executive Committee. Lockhart also served in the previous Bush Administration as Executive Director of the Pension Benefit Guaranty Corporation from 1989 until 1993. He reported to a Board composed of the Secretaries of Labor, Treasury and Commerce.

2:00 PM – 2:30 PM		Session One Intro: Forecasting Economic Landscape
		Frank Nothaft Chief Economist, Freddie Mac was appointed to the position of chief economist for Freddie Mac in December 2001 and vice president in March 2004. Nothaft is responsible for primary and secondary mortgage market analysis and research, macroeconomic analysis and forecasting. The GSEs are among the most sophisticated players in the mortgage market, employing state-of-the-art technologies to mitigate risk in the nation’s largest portfolios. What tools does Freddie Mac use to look into the future and estimate future values and anticipate future risks? What impacts with the shifting markets have on Freddie’s portfolio? In this keynote session, attendees will take away lessons that will provide a sure path to the accurate valuation of loan pools and the effective mitigation of collateral risk in the portfolio.
		Frank Nothaft, Chief Economist, Freddie Mac Frank E. Nothaft was appointed to the position of chief economist for Freddie Mac in December 2001 and vice president in March 2004. Nothaft is responsible for primary and secondary mortgage market analysis and research, macroeconomic analysis and forecasting.

2:30 PM - 3:45 PM		Session One: Forecasting Economic Landscape
		Effective mortgage industry forecasting has been very difficult in the past. There are so many factors that impact how borrowers will repay their mortgage obligations. Evaluating risk involves more than an investigation of borrower credit and collateral valuation. Knowing the future value of the collateral underlying the loan is the only way to anticipate future risks. This session will investigate the new technologies available for mortgage industry financing, explore their abilities to accurately forecast future home prices and market conditions and outline their effective use for risk and fraud mitigation.
		Mark Zandi, Chief Economist, Economy.com Mark Zandi is Chief Economist and co-founder of Moody’s Economy.com, Inc., where he directs the company’s research and consulting activities. Ted Durant, Senior Analyst, MGIC Ted Durant has been with MGIC for twelve years and is currently the Vice President of Analytic Services. In addition to his work at MGIC, Ted has experience in oil & gas exploration, real estate development, chocolate manufacturing, and bicycle manufacturing and retailing. Eric Fox, VP Technology, Veros Real Estate Solutions Eric Fox received his M.S. in Statistics from Purdue University in 1987, his B.S. in Mathematics and Economics in 1986 from Purdue University, and has over 18 years of industrial experience in Probabilistic Life Methodology development, statistical training, probabilistic design software development, group and program management, process optimization, and probabilistic financial/competitive analysis for large corporate senior management teams. Mike Freeman, VP Risk Management, HSBC Mike Freeman is currently Vice President of Asset Management with Decision One Mortgage, a non-prime mortgage origination unit for HSBC based in Ft. Mill, SC. In his current role, Mike oversees Decision One’s underwriting function and is responsible for credit administration and troubled asset resolution.

30 minute break		Afternoon break – visit with the exhibitors


4:15 PM - 6:00 PM		Session Two: Valuation - A Wall Street Perspective
		Wall Street firms have expanded their mortgage operations significantly over the past few years. No longer relegated to the secondary market, these firms are now active in all parts of the business, but they have brought their careful underwriting and due diligence skills with them. In this session we turn to Wall Street experts to find out more about the increasing utilization of collateral risk management and analysis, insured property valuations, risk-based pricing models and more. Understanding how these players view collateral risk will be an indicator of what tools the industry will be using to evaluate and mitigate it in the future.
		Brad Davis, Director of Valuation, Morgan Stanley check back for bio Jim Park, Chief Appraiser, Aurora Loan Services, a Lehman Brothers Company Jim is the Senior Vice President and Chief Appraiser for Aurora Loan Services, A Lehman Brothers Company. His duties include oversight of the appraisal review staff and appraisal policy development and maintenance. Leslie Albergo, Director, Standard & Poors Leslie J. Albergo is a Director and Client Value Manager in the Structured Finance Ratings Group. She analyzes and rates transactions backed by prime, subprime, HELOC, home equity and NIM products. Her project focus includes Automated Valuation Models (AVM’s), Net Interest Margin Securities (NIMS) and Credit Underwriting analysis. Tim Knight, VP Valuation Strategies, Countrywide Tim Knight is the Assistant Vice President of the Property Valuation Due Diligence group of Countrywide Securities Corporation (CSC) located in Calabasas, CA. Tim and his team are responsible for all aspects of the property valuation due diligence process for CSCs sale and acquisition of loans.


6:00 PM - 8:00 PM		Welcome reception: Sports & Games Expo immediately following the last session on the Grand Lawn
		As the sunsets over the Pacific Ocean join your fellow attendees for an unforgettable event of delicious cuisine and hosted bar. Compete with your peers in an awe inspiring arcade experience. This event is sure to be unforgettable!