PMC 2007 Agenda Tuesday


Tuesday June 12th

7:00 AM - 9:00 AM		Breakfast outside the general session room and exhibit area
9:00 AM - 9:50 AM		Keynote: Larry Rosenberger, Fair Isaac
		Larry Rosenberger leads Fair Isaac's Research & Development group, as well as the product management of the company's applications for Enterprise Decision Management. Mr. Rosenberger joined Fair Isaac in 1974 and served as president and chief executive officer from 1991 to 1999. During that time, Fair Isaac experienced consecutive years of record growth, with annual revenues increasing from $31 million to over $276 million. Prior to that position, he managed the Engineering, Research, and Development Division. In that capacity, he was responsible for the technical development, production and marketing of the company's most advanced products. Mr. Rosenberger holds a B.S. in physics from the Massachusetts Institute of Technology and an MS in physics and operations research from the University of California, Berkeley. He is also chairman of the board of directors of the Marin Education Fund and board member of the Marin Community Foundation.

10:00 AM – 11:30 AM		Session Three: Collateral Risk
		Collateral risk management has now come of age and more companies are using it to manage enterprise risk all over the industry. From origination, through servicing and in the secondary market, market participants are learning to take a more holistic view of these risks. How are originators using insured valuations? And how does that differ from the way players in other parts of the business are using them? Effective risk management does more than save firms money. It can also point to future opportunities. Our experts will show you how.
		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. Scott Humphrey, First VP Real Estate Modeling, JPMorgan Chase Scott Humphreys is the Director of Real Estate Modeling for JPMorgan Chase. His team is responsible for building and validating credit scoring models for the prime mortgage, home equity and subprime portfolios. Perry Minas, VP, Wells Fargo Bank Perry Minas is currently a Vice President of appraisal 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. Jacquie Doty, Director of 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.


11:30 AM - 1:00 PM		Lunch Speaker: Billy Beane
		Billy Beane is the general manager of Major League Baseball's Oakland A's. For the past three years, Beane has been taking on the big boys in baseball, winning more often than not. Beane has figured out how to succeed with a limited payroll, and he's doing it with computers and statistics. He has done this by leveraging the power of mathematics, using sophisticated statistical analysis in place of traditional "gut instinct". The results have been revolutionary for his industry. Beane's story is covered in the bestselling book Moneyball, and is an important and fascinating tale for managers and executives from any industry or profession.

1:00 PM – 1:45 PM		Meet & Greet with Billy Beane in exhibit hall


1:45 PM – 3:00 PM		Session Four: Servicing
		The value of the servicing asset is rising in this market, but so are delinquencies. Effective and profitable loan servicing requires firms to utilize the latest tools for risk-based collection and proactive loss mitigation strategies. Implementation of predictive technologies will improve decision making and efficiency by providing economic and collateral data that was previously unavailable to support the servicer’s actions. By using the most advanced tools to determine the exact risk in the deal before the loan becomes seriously delinquent will save servicers money and help them keep more borrowers on track.
		Susan Allen, Director, GMAC RFC 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. Chad Berreth, National Accounts Manager, Veros Real Estate Solutions Chad Berreth is a National Accounts Manager with Veros Real Estate Solutions. Chad has been involved in the mortgage industry for the past 11 years. Prior to joining Veros Real Estate Solutions Mr. Berreth worked for Clayton Fixed Income Services, an organization that specializes in monitoring the performance of the participants to mortgage backed securitizations, in particular the mortgage servicers. John Burnett, Head of Valuations, Wilshire Credit Check back for bio Joe Palumbo, Chief Quality Officer, Pro-Teck Services Joseph Palumbo, SRA, is the Chief Quality Officer at Pro-Teck Services. Mr. Palumbo’s responsibilities include oversight of product quality, compliance, certification of Pro-Teck’s appraiser and valuation network, internal auditing and certification programs and management of Pro-Teck’s Quality Control Staff.


3:00 PM - 4:15 PM		Session Five: Insured AVMs/Valuation Derivatives
		A few years ago, the insured AVM was a revolutionary new product that opened the industry up to taking these products more seriously. Now, after years of use, we ask how these tools have performed, how they’ve been used and where and what value they’ve had in the secondary market. In addition, we take a look at some of the new innovations in this space, such as customized offerings for companies and specific markets and the use of these tools as hedging instruments. Finally, our experts will compare secured solutions and self insured alternatives.
		Darius Bozorgi, CEO, Veros Real Estate Solutions Darius Bozorgi co-founded Veros Software after spending most of his early career practicing law in Chicago, where he specialized in civil litigation for one of Illinois’ largest litigation firms. He serves on the Board of Directors of the Real Estate Information Professionals Association (REIPA). Bozorgi is the Chairman of the recently formed Collateral Assessment & Technologies Committee (CATC) of REIPA representing most of the nation’s leading collateral assessment technology companies. Walter Morgan, EVP Valuation Services, Fiserv Walter Morgan is currently the EVP, Valuation Services for Fiserv Lending Solutions, and has been in the mortgage lending/real estate industry for the last 9 years. Walter was formerly with Fidelity National Information Solutions as SVP Sales, and as EVP and COO of Market Intelligence, Inc. Chris Whitley, Collateral Valuation Project 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

30 minute break		Afternoon break and visit the exhibits


4:45 PM - 6:00 PM		Session Six: Confidence Scoring
		All collateral valuation models produce a range of results that depend upon the specific data available for the computation, changing market realities and the specifics of the property in question. In the past, AVM developers have used confidence scores to give customers a view into the probable accuracy of the predicted valuation. In this session, we explore these scores, discuss whether they should be standardized across the industry and investigate actual performance evaluation techniques and effective AVM cascading.
		Maria Bulycheva, Consumer Modeling, JPMorgan Chase Maria Bulycheva has several years experience with AVMs and other collateral valuation issues. She is responsible for AVM testing and validation, developing AVM cascades, and other collateral research and analytics. Michelle White, Senior VP of Credit Risk Management, Washington Mutual Bank Michelle White is Senior Vice President of Credit Risk Management at Washington Mutual Bank. She is Senior Manager of the residential appraisal group for WaMu, which provides appraisals and alternate evaluation services for all mortgage banking and consumer lending channels, including both prime and sub prime areas. Andre Gao is the Director of Home Price Models in 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. Craig Zielazny, Senior Vice President, AVMetrics, LLC Most recently with National City Mortgage, Craig served as Vice President, Analytics & Modeling for the Retail Division where he and his team developed and deployed decision-support and predictive modeling tools for operations, risk management, quality control and the retail branches. Before joining NCM full-time, Craig was engaged as a consultant with National City where he architected the Retail Division’s Automated Valuation Model program. His work on National City’s AVM program includes completing multiple, national tests of the industry’s top models, creating a normalized rank system for the AVM Confidence Scores and developing the business rules engine for the program.


8:00 PM - 10:30 PM		Texas Hold'em Tournament
		Put away your tells and join us for an evening of action in the PMC Texas Hold'em Tourney. Look for it on the Flop, drop it on the Turn or catch in on the River but be there for lots of poker, networking and fun. The cards start dropping promptly at eight and the games will run until ten thirty. When the clock stops the one with the most chips wins the coveted PMC Gambler's Case. There will also be more games of chance like; Roulette, Craps and even Blackjack. All the thrill of gaming topped off with hors dourves, entertainment and hosted bar. Good Luck!