Capital Markets Today

Dan Perl, Chairman & CEO of Citadel Servicing Corporation & Managing Investment Partner for CMMI, LLC leads the charge back into non-prime lending. As recently featured in the LA Times, Dan discusses the proof of concept and capital raise phase as well as defines today's non-prime lending landscape, the market size and his path to the first private securitzation.  Like Redwood taking the lead on private jumbo secruitization, watch for Dan/Citadel to pave the way for others in the non-prime market.

Jacob Gaffney joins CMT for its regularly scheduled “Insider Report”.  Jacob details breaking news on CMT as well as discusses the latest RMBS/ABS deals, Blackstone’s earnings with Invitation Homes, CA Homeowner Bill of Rights, home sales, home builders and more. Jacob is the Executive Editor of HousingWire and HousingWire.com.  He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009.

Phil Laren, founder of PB Pacific Partners will discuss the valuation and decision methodology of retaining mortgage servicing rights. Mr. Laren has been involved in mortgage banking capital markets and risk management for over 25 years. He is well known for developing financial models with applications to servicing value, pipeline hedging, and optimal use of options for both servicing and pipeline hedging, as well as profitability and best execution models.  Mr. Laren received two Masters Degrees (in Economics and Statistics) from the University of Michigan, as well achieving a Candidate for Ph.D in Econometric theory from the University of Michigan.

Brent Nyitray is the Directory of Capital Markets at iServe Residential Lending and is responsible for managing iServe’s origination pipeline and Ginnie Mae securitizations. Prior to iServe, he has been an analyst and trader at several hedge funds as well as ran the European Risk Arbitrage trading desk at Bear Stearns. Brent will discuss current trends and updates.

Jim Park, Co-Founder & CEO of New Vista Asset Management and Founder & President of the Asian Real Estate Association of America discusses the growing trend of global investors deploying capital into US real estate.

Matt will discuss the rapidly changing environment in mortgage servicing rights (MSR) trading.  Who are the new players, pricing expectations, sellers and enhanced analytics? Matt Maurer is Managing Director at MountainView Servicing Group and MountainView Capital Group.  Matt Maurer is responsible for providing residential mortgage servicing rights and whole loan sales advice, portfolio valuation and risk management.

Brain Alan, VP and Brian Grow, Managing Director at Morningstar Credit Ratings will discuss how servicer behavior is impacting interest short fall in residential mortgage backed securities.   Morningstar’s structured credit research and ratings subsidiary is a Nationally Recognized Statistical Ratings Organization (NRSRO) that has earned a reputation for innovation and excellence in the structured finance market. See RMBS Commentary, February 2013 – “Interest Shortfall Update: 2012 Review”

Thomas Showalter, the Chief Analytics Officer of Digital Risk, will discuss how to identify and manage two historically known forms of risk as well as a new type of risk that is prevalent and misunderstood or unknown by most institutional and whole loan investors. Digital Risk is the largest independent provider of risk, compliance and transaction management solutions.

Melissa Dant, General Counsel, for National Asset Direct Inc. and iServe Companies discusses the recently distributed offering memo regarding the solicitation for strategic proposal and sale of the iServe Servicing platform. iServe Servicing is a nationwide mortgage servicing platform with servicing and collection licenses intact.  iServe Servicing also includes custom developed operational and investor related reporting, technology and interfaces to key third party solutions. Note: iServe Companies continues to have the ability to service and manage component loss mitigation and short sale functions through iServe Residential Lending and iServe Real Estate Operations.

Skip Schenker, founder of Ready4Remodel, will discuss the intricacies, benefits and the ability to increase returns utilizing the well-known, but under-utilized, 203k renovation financing.   Increased loan trades and real estate offerings from HUD, FNMA & Freddie create a huge opportunity for 203k financing as the focus and requirements is neighbor stabilization.