2007 MORTGAGE SERVICING ASSET & RISK MANAGEMENT

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PLUS - OPTIONAL FULL DAY PRE-CONFERENCE WORKSHOP

MORTGAGE SERVICING ASSET BOOTCAMP

STEVE ROBERTSON, Conference Chair, Managing Director

What's the outlook for mortgage rates, home prices, and the housing market? Can we expect recent mortgage delinquencies trends to continue? This session will help you consider the impact of recent economic indicators and the outlook from expert economists on your servicing operations and MSRs so you can plot a course for the rest of 2007 and beyond.

Many servicers elected to move to a fair value model for accounting for servicing assets in 2006. How has this impacted financial reporting and disclosures for MSRs? How will the proposed Fair Value Option impact accounting for loans held for sale? Do opportunities exist for refining hedging strategies under a fair value accounting model for loans held for sale. In this session, we bring you up-to-date on fair value accounting guidance and its impact on MSRs and loans held for sale.

THOMAS J. KELLY, Senior Manager

WADE D. HAMPE, Senior Manager

Rising delinquencies, shrinking margins, and M&A activity have kept mortgage industry analysts busy in 2006 and 2007. In this panel session, you will hear leading analysts share their views on the mortgage servicing business, MSRs and residuals, and the outlook for the industry.

STEVE DAVIES, Co-Chair, Consumer Finance Group

KENNETH POSNER, Managing Director, Specialty/Mortgage Finance Analyst

CRAIG EMRICK, Vice President, Senior Accounting Analyst

JOHN J. KRIZ, Managing Director

In this session, experts discuss the "lessons learned" in 2006 for complying with SEC Reg AB requirements. What do these "lessons learned" mean for 2007 and beyond? Our panelists will share their views.

MICHAEL SEELIG, Partner and Co-Chair, Consumer Finance Group

LAWANDA MORRIS, Senior Manager, Consumer Finance Group

ALISON B. UTERMOHLEN

Senior Director, Government Affairs

Listen to leading servicing brokers share views on the flow and bulk markets for servicing as well as the impact of recent M&A activity. Learn about geographical considerations for prepayments, delinquencies, and foreclosures. Our panelists will provide some insights for you to consider in your MSR fair value estimation process.

MODERATOR:

GREGORY TEARE, Senior Manager, Consumer Finance Group

DEAN DeMERITTE, Executive Vice President

ROBERT W. FEAR, Senior Vice President

MARK S. GARLAND, Senior Vice President

Listen to the views of representatives from regulatory agencies on emerging risks and other hot topics impacting the mortgage industry and MSRs. This panel session will help you assess and refine your existing safety and soundness compliance strategies for MSRs.

RIC PACE, Principal

MICHAEL D. MARTIN, National Bank Examiner

MARK V. THORPE, Capital Markets Examiner

How do you measure the economic performance of your MSR asset? What are the critical success factors and potential risks to achieving your MSR asset return expectations in the current environment? Listen to views from servicers as they discuss MSR performance measurement and provide ideas that you can apply in your organization.

STEVE ROBERTSON, Conference Chair Managing Director

Listen to speakers discuss hot topics for Agency and Non-Agency securitizations.  Learn about recent trends in home equity securitizations.

DAVID LUKACH, Partner & Co-Leader, Structured Finance Group

FRANK J. SERRAVALLI, Partner & Co-Leader, Structured Finance Group

DAY TWO — THURSDAY, MAY 24, 2007

STEVE ROBERTSON, Conference Chair, Managing Director

An inverted yield curve made MSR hedging a more costly endeavor for many servicers in 2006 compared to recent years. These experts discuss MSR hedging strategies that worked in 2006 and share views on strategies to consider for the remainder of 2007. 

HENRY DARAKHOVSKIY, SVP, Management, Market Risk

DAN FLEISHMAN, Director

DAVID SAYLES, Managing Director

Non-agency originations and servicing has been steadily growing over the past five years. How do recent delinquency and foreclosure trends impact MSR values for these products? What are key considerations for valuing non-agency MSRs in 2007 and beyond. Our panel will share views on this timely topic.

JEREMY STICKER, Senior Manager, Consumer Finance Group

Gain on sale margins have been shrinking as origination volumes have declined. Is your organization achieving its GOS target? How effective are you at measuring and explaining GOS variances? Panelists will discuss leading practices for measuring and attributing GOS variance to operational and market drivers. Learn how to apply these important tactics in your organization.

AMY SZELIGA, Senior Manager

DAVID GUY, Partner

DAVID GRIFFITH, Senior Vice President, Market Risk and Governance

Fair value accounting for assets such as loans held for sale and trading securities used in MSR hedging will require new measurement techniques. Learn what other companies are doing today to transition to fair value accounting in 2007.

JOHN KOWALAK, Senior Manager

12:15 – 1:15 Luncheon Use this opportunity to network and build relationships as you share experiences and ask questions of your peers and the experts in an informal atmosphere.

1:15 – 2:15     The Strategic View on MSRs — Leveraging the Servicing Relationships 

With the introduction of zero-cost mortgages, even more emphasis on building and maintaining relationships with customers is needed. What are the critical success factors for cross-selling additional relationships and retaining customers? Listen to our experts share ideas on how to strategically leverage your servicing relationships with servicing customers.

PETER POLLINI, Senior Manager, Consumer Finance Group

Borrower prepayment behavior continues to present challenges to servicers. With the advent of several new product features over the last several years, does enough historical information exist to assess the impact of these features on prepayment behavior? What are the most recent advances in incorporating delinquencies and defaults in the prepayment modeling process? Our expert panel discusses the current state of prepayment modeling. 

CHRIS STATHAM, Senior Manager

MICHAEL BYKHOVSKY , President & CEO

MARK S. GARLAND, Senior Vice President

ROBERT LANDAUER, Director of Business Development

STEVE ROBERTSON, Conference Chair, Managing Director

3:30 Adjournment