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ACCOUNTING ISSUES FOR THE MORTGAGE INDUSTRY |
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CONFERENCES
BY TOPIC
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SPONSORSHIP/EXHIBIT OPPORTUNITIES AVAILABLE FOR ALL EEI CONFERENCES
CONTACT: Michael
Brown, Sponsorship & Exhibit Executive Phone:
859-692-2274 or email at
mbrown@nuco.com
EEIs full range of in-company options give you the most productive settings for IN-HOUSE TRAINING!
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Agenda/Faculty Hotel/Other Info Continuing Education Credits |
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Attend this meeting and receive an overview of current and emerging issues affecting the mortgage industry today!
CHAIR: TERRY COUTO, Partner Newbold Advisors, LLC
DAY ONE: Monday, September 15, 2008
8:00 8:30 CONTINENTAL BREAKFAST AND REGISTRATION
8:30 - 9:15 KEYNOTE ADDRESS RECENT FASB ACTIVITIES RELATED TO THE MORTGAGE BANKING INDUSTRY This session will focus on recent FASB activities that relate to the mortgage banking industry, including the FASBs current projects to amend Statement 140, Interpretation 46(R), and the Statement 133 disclosures relating to credit derivatives and certain guarantees. In addition, the session will discuss recently issued FASB pronouncements including Statement 157, 159, and 161. JAMIE MAYER, Practice Fellow Financial Accounting Standards Board (FASB)
9:15 - 11:15 (Coffee Break 10:00 - 10:15) MORTGAGE ORIGINATION AND SECONDARY MARKETING BASICS This session will cover both economic and accounting related fundamentals of the mortgage origination business. It will include a comparison of strategies and typical financial results for retail, wholesale and correspondent origination channels. This session will also illustrate the impact of FAS 65, FAS 91, and FAS 140 with an example of the origination and sale of a typical mortgage loan. It will also cover secondary marketing concepts and related accounting implications. TERRY COUTO, Partner, Newbold Advisors, LLC
11:15 12:45 MORTGAGE SERVICING BASICS This session will provide an overview of the mortgage servicing business, including an explanation of how the mortgage and housing market meltdowns have impacted the servicing business. This session will explain key functions of key servicing departments. It will also cover servicing related accounting issues (e.g. the accounting for troubled debt restructuring (TDRs), servicing advances claims receivable, REO, and mortgage servicing rights) and explain Reg AB and Uniform Single Audit Program requirements at a high level. BRAD WEBER, Senior Manager, Consumer Finance Group, PricewaterhouseCoopers LLP MAUREEN C. MAGRANN, Manager, Consumer Finance Group PricewaterhouseCoopers LLP
12:45 1:45 Luncheon An opportunity to network with colleagues.
1:45 3:15 ECONOMIC OUTLOOK FOR THE MORTGAGE INDUSTRY This session is always an audience favorite, as it presents current perspectives from the economist community on the mortgage business. Dont miss this opportunity to gain an overview of macro-economic trends, developments in the housing and mortgage markets, and the effect of these factors on both the short and long term mortgage industry outlook. PAUL BISHOP, Managing Director, Survey and Market Research National Association of Realtors
3:15 3:30 Coffee Break
3:30 4:45 NEW MORTGAGE RELATED GAAP ACCOUNTING DEVELOPMENTS This session will explain recent developments in accounting standards that impact the mortgage banking industry, including FAS 160, FAS 140, FAS 157/159, FIN 46R, IFRS and FAS 114/TDR accounting. DAVID A. AUGUSTYN, Partner, Transaction Services Accounting Advisory Group KPMG LLP
4:45 6:00 ACCOUNTING FOR LOANS HELD FOR INVESTMENT This session will provide an overview of accounting for loans held for investment with an emphasis on practical examples. It will cover accounting relating to loans carried at historical cost, including loan loss reserves, amortization of deferred fees and expenses, and loan modifications. It will also cover accounting for loans carried at fair value under the FAS 159 fair value option, including reporting issues and disclosures of changes in fair value. MICHAEL THERRIEN, CPA, Managing Director Primatics Financial, LLC
6:00 DAY ONE ADJOURNS
DAY TWO: Tuesday, September 16, 2008
8:30 10:15 FAIR VALUE MEASUREMENT AND FAIR VALUE OPTION (FAS 157/ FAS 159) Given the widespread adoption of these standards in 2008, this session will explain specifics of the guidance, how the standards interact with one another, how they differ from prior standards and reporting, and lessons learned from early adopters. This session will cover the latest on fair value implementation and the implications to mortgage company financial statements resulting from this major accounting change. CRAIG D. STEVENS, Senior Manager, Complex Accounting, Regulatory & Capital Markets Consulting Deloitte & Touche LLP
10:15 10:30 Coffee Break
10:30 11:30 ACCOUNTING ISSUES RELATING TO VALUATIONS OF THINLY TRADED ASSETS This session will address the challenges of developing prices for and auditing fair values of thinly traded loans, securities, residuals, and other mortgage related assets & liabilities. It will include war stories and examples of best practices. TIM GAVEN, Partner Newbold Advisors, LLC
11:30 11:45 Question & Answer Session
11:45 12:45 Luncheon An opportunity to network with colleagues.
12:45 2:15 TAX ISSUES IMPACTING THE MORTGAGE INDUSTRY ISSUERS AND INVESTORS This session provides an examination of the latest tax-related issues and developments, including: Origination, servicing and loss management Sale, finance and risk management Performing, sub-performing and non-performing loans, MBS and ABS TERENCE B. MEYERS, Director Financial Services Deloitte Tax LLP
2:15 2:30 Coffef Break
2:30 4:00 FAS 140 OVERVIEW & SECURITIZATION ISSUES This session will cover the simple aspects of securitization to some of the more complex current issues. It will start with basics of what motivates a securitization, who is involved and what are common portions of structures. I will continue on to the accounting aspects of applying FAS 140 including an overview of this Statement. It will also dive into more detailed discussion of implementation guidance provided by the FASB, problems that impact the securitization process, certain implications of related risk management activities, legal letters, and securitization trends. ALICIA ROMO, Senior Manager, Securitization Services Deloitte & Touche LLP
4:00 4:15 Question & Answer Session
4:15 CONFERENCE ADJOURNS |
ORDER A COURSE NOTEBOOK: All attendees will receive our conference notebook free of additional charge at the meeting. Non-attendees may order notebooks and attendees may order additional copies. Save shipping & handling when you pre-pay! (Good in U.S., U.S. possessions, and Canada.) U.S. residents add appropriate sales tax. Canadian residents add appropriate GST. Be sure to include the conference title when ordering.
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