March 14-16, 2007
La Costa Resort & Spa, Carlsbad, CA
TEXT AGENDA (as of 2-21-2007)_

____________________A
6TH AVE INVESTMENT MANAGEMENT CO
A.I.M FUNDING GROUP
2 Executives, ABN AMRO MORTGAGE CAPITAL MARKETS GRP.
3 Executives, ACC CAPITAL HOLDINGS
AEGIS MORTGAGE CORPORATION
ALCENTRA
ALEX BROWN INVESTMENT MANAGEMENT
ALLIANCE BANCORP
AMBAC
AMERICAN HOME MORTGAGE
AMERICAN MONEY MANAGEMENT CORPORATION
2 Executives, AMERIQUEST MORTGAGE COMPANY
AMSTAR MORTGAGE CORP.
ANDREW DAVIDSON & CO./VECTORS RESEARCH MANAGEMENT
3 Executives, ANDREW DAVIDSON & CO.
APIDOS CAPITAL MANAGEMENT, LLC
2 Executives, APPLIED FINANCIAL TECHNOLOGY
ASSENT
ASSET FORECLOSURE SERVICES, INC.
THE BANK OF NEW YORK
2 Executives, BARCLAYS CAPITAL
BARRIER INVESTMENTS, LLC
BAYVIEW FINANCIAL
BEAR STERNS
BLACKMONT CAPITAL
BOSTON PORTFOLIO ADVISORS
2 Executives, BRADDOCK FINANCIAL CORPORATION
BRIGHTWATER CAPITAL MANAGEMENT

____________________C
C-BASS, LLC
C-BASS, LLC / LITTON
CARDIFF CONSULTING
CASCADE FINANCIAL SERVICES
CASTLE POINT CAPITAL
CHARLIE MAC, LLC
3 Executives, CHASE HOME EQUITY
2 Executives, CHASE HOME FINANCE
4 Executives, CHASE HOME MORTGAGE
3 Executives, CITIGROUP
CITIMORTGAGE, INC.
CLAYTON
3 Executives, CLC HOME LOANS
2 Executives, CLINTON GROUP
COMMERZBANK AG
CONNING ASSET MANAGEMENT
2 Executives, CORELOGIC
4 Executives, COUNTRYWIDE FINANCIAL
COUNTRYWIDE SECURITIES
COVENTREE CAPITAL GROUP INC
CREDIT SUISSE ASSET MANAGEMENT, LLC
6 Executives, CREDIT SUISSE
2 Executives, CREMAC
CROSS BORDER CAPITAL ADVISORS

____________________D-E
D.B. ZWIRN & CO., LP
DATAQUICK
3 Executives, DBRS
DECLARATION MANAGEMENT & RESEARCH LLC
DELAWARE INVESTMENTS, INC.
DENVER INVESTMENT ADVISORS
DEUTSCHE ASSET MANAGEMENT
2 Executives, DEUTSCHE BANK
DEUTSCHE BANK SECURITIES INC.
DEWEY BALLANTINE LLP
DODGE & COX
DRESDNER KLEINWORT
DRUEKER
DYNAMIC CREDIT PARTNERS LLC
E*TRADE GLOBAL ASSET MANAGEMENT
EMC Mortgage
EPIRUS CAPITAL MANAGEMENT

____________________F
9 Executives, FANNIE MAE
FARALLON CAPITAL
2 Executives, FEDERAL DEPOSIT INSURANCE CORP.
FIDELITY INVESTMENTS
3 Executives, FINANCIAL SECURITY ASSURANCE
5 Executives, FIRST AMERICAN
2 Executives, FIRST AMERICAN / LOANPERFORMANCE
10 Executives, FITCH RATINGS
2 Executives, FORTRESS INVESTMENT GROUP
FRANKLIN BANK, SSB
10 Executives, FREDDIE MAC

____________________G
GARTMORE MORLEY FINANCIAL
GEMOLOGICAL INSTITUTE OF AMERICA
GEN RE-NEW ENGLAND ASSET MGMT., INC.
GENWORTH MORTGAGE INSURANCE
GENWORTH FINANCIAL
GINNIE MAE
5 Executives, GMAC-RFC
GMAC-RFC MEXICO
GOLDEN TREE ASSET MANAGEMENT
2 Executives, GOLDMAN SACHS
GSC PARTNERS
GULF INTERNATIONAL BANK (UK) LTD.
GULF STEAM ASSET MANAGEMENT LLC
HALCYON ASSET MANAGEMENT
2 Executives, HISPANIC NATIONAL MORTGAGE ASSOCIATION
3 Executives, HOLLISTER GROUP, LLC
HVB GROUP
HYPO PUBLIC FINANCE BANK
IMARc
2 Executives, IMPAC LENDING GROUP
5 Executives, IMPAC MORTGAGE HOLDINGS, INC.
INDYMAC BANK
INTER-AMERICAN DEVELOPMENT BANK
2 Executives, INTERTHINX
3 Executives, INVESCO
INVESTEC BANK UK LTD
IRWIN HOME EQUITY
IXIS CAPITAL MARKETS

____________________J-M
JMP SECURITIES
2 Executives, JPMORGAN
JPMORGAN ASSET MANAGEMENT
JPMORGAN CHASE
2 Executives, JPMORGAN SECURITIES
KATONAH DEBT ADVISORS
3 Executives, LASALLE BANK
2 Executives, LASALLE INVESTMENT MANAGEMENT
LCOR
4 Executives, LEGG MASON
LEHMAN BROTHERS
Lehman Brother/ Aurora Loan Services
LITTON LOAN SERVICING
2 Executives, LLOYDS TSB BANK PLC
LOEWS CORPORATION
LONG BEACH MORTGAGE COMPANY
2 Executives, LUMINENT MORTGAGE CAPITAL, INC.
2 Executives, MARKTOMARKET.COM
MAXIM CAPITAL MANAGEMENT
MCDASH
MELLON FINANCIAL MARKETS, LLC
MEMBERS UNITED
MERRILL LYNCH
2 Executives, MERRILL LYNCH BANK USA
MIZUHO CORPORATE BANK, LTD.
2 Executives, MKP CAPITAL MANAGEMENT
MOODY'S INVESTOR SERVICE
3 Executives, MORGAN STANLEY
Morgan Stanley/Saxon Mortgage
MORTGAGE HOLDINGS INC.

____________________N
2 Executives, NATEXIS BANQUES POPULAIRES
NATIONWIDE INSURANCE COMPANY
NEW CENTURY MORTGAGE
NEW YORK LIFE MANAGEMENT
NEWSTAR FINANCIAL
2 Executives, NIBC CREDIT MANAGEMENT, INC.
NOMURA SECURITIES INTERNATIONAL
OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT
4 Executives, OPRION ONE MORTGAGE CORP
OWNIT MORTGAGE SOLUTION
2 Executives, PARADIGM QUEST INC.
2 Executives, PAYDEN & RYGEL INVESTMENT COUNSEL
PIMCO
6 Executives, PMI MORTGAGE INSURANCE CO.
PNC CAPITAL MARKETS, INC.
2 Executives, PORTFOLIO SECURITIZATION CAPITAL
PPM AMERICA
PREFERRED ACQUISITIONS LLC
PRICEWATERHOUSECOOPERS
PRINCETON ADVISORY GROUP, INC.
PRIVATE EQUITY MANAGEMENT GROUP, INC.
PRUDENTIAL FINANCIAL

____________________R
2 Executives, RABOBANK INTERNATIONAL
2 Executives, RADIAN GUARANTY INC.
Associate, REOTECH
RESCAP
RESMAE
RIMROCK CAPITAL MANAGEMENT
2 Executives, ROYAL BANK OF CANADA
SAILFISH CAPITAL PARTNERS, LLC
3 Executives, SAYE CAPITAL
SORIN CAPITAL MANAGEMENT
4 Executives, STANDARD & POOR’S
STATE STREET ADVISORS
STATE STREET GLOBAL MARKETS LLC
2 Executives, STONE TOWER CAPITAL LLC
2 Executives, STRUCTURED CREDIT INTERNATIONAL CORP.
SYMPHONY ASSET MANAGEMENT

____________________T-Z
TERWIN MONEY MANAGEMENT LLC
2 Executives, THORNBURG MORTGAGE, INC.
THRIVENT CAPITAL
TIAA GLOBAL PUBLIC MARKETS
TIAA-CREF
TRICADIA CAPITAL LLC
5 Executives, TRUST COMPANY OF THE WEST
UBS
VANDERBILT FINANCIAL TRUST
3 Executives, VEROS REAL ESTATE SOLUTIONS
VERTICAL CAPITAL
VIZION FUNDING
WALLACE R. WEITZ & CO.
WALTER MORTGAGE COMPANY
2 Executives, WASHINGTON MUTUAL
WATERFALL ASSET MANAGEMENT, LLC.
2 Executives, WELLINGTON MANAGEMENT CO.
WELLS FARGO CORPORATE TRUST
4 Executives, WESCORP
2 Executives, WILLIAMS & WILLIAMS
THE WINTER GROUP
THE WORLD BANK
ZAIS GROUP
ZENITH INSURANCE COMPANY
ZIFF BROTHERS INVESTMENT

WEDNESDAY, March 14, 2007

10:00am

Registration

11:15-12:15p

PRE-CONFERENCE WORKSHOP: FUNDAMENTALS OF WAREHOUSE LENDING IN THE RESIDENTIAL MARKET

Moderator:
DEWEY BALLANTINE LLP

Panelists:
DRESDNER KLEINWORT
FORTRESS INVESTMENT GROUP

12:15-12:25

Co-Chair Welcoming Remarks
DBRS
TRUST COMPANY OF THE WEST

12:25-1:10

THE CURRENT STATE OF THE HOUSING FINANCE MARKET

Moderator:
TRUST COMPANY OF THE WEST

Panelists:
BOSTON PORTFOLIO ADVISORS
THORNBURG MORTGAGE, INC.
WILLIAMS & WILLIAMS

1:10-1:45

APPLICATION OF RISK TRIPWIRES PRINCIPLES FOR RETAIL, WHOLESALE & CORRESPONDENT LENDING IN INCREASING PROFITABLE LOAN PRODUCTION
• Understanding market performance by computer-based statistical area (CBSA)
• Comprehensive assessment of the most profitable CBSAs in which to do business
• Using market performance to plan for growth by CBSA
• Selecting the best CBSAs for use in sales strategy
• Performance monitoring methodology
• Streamlining decisions using products that help identify key broker, l borrower, and property characteristics
• Implementation of a Correspondent/Broker scoring system
• Consumer product preference analysis
• Overall Profitability Score for each loan tied back to the factors listed above

Speaker:
IMPAC MORTGAGE HOLDINGS, INC.

1:45-2:30

ALT-A MORTGAGES

Moderator:
DBRS

Panelists:
FITCH RATINGS
RADIAN GUARANTY, INC.

2:30-3:15

HOW THE HOUSING MARKET AFFECTS MORTGAGE CREDIT RISK

Moderator:
DBRS

Panelists:
CREDIT SUISSE
FIRST AMERICAN/LOAN PERFORMANCE
RADIAN GUARANTY, INC.

3:15-3:55

HOUSING SURVEILLANCE

Moderator:
CLAYTON

Panelists:
FAIR ISAAC CORPORATION
WILLIAMS & WILLIAMS

3:45-4:00

Refreshment Break

4:00-4:50

INVESTORS’ PERSPECTIVE ON HOME EQUITY INVESTMENT

Moderator:
NIBC CREDIT MANAGEMENT, INC.

Panelists:
ANDREW DAVIDSON & CO./VECTORS RESEARCH MANAGEMENT
INVESCO
NEWSTAR FINANCIAL

4:50-5:35

REAL DRIVERS BEHIND PREPAYMENTS

Moderator:
CITIGROUP

Panelists:
APPLIED FINANCIAL TECHNOLOGY
CREDIT SUISSE
FIRST AMERICAN

5:35-6:35

USING AUTOMATED PROPERTY VALUATION SOLUTIONS TO ANALYZE PORTFOLIO RISK
• Understanding the value of Automated Valuation Models (AVMs),
• collateral fraud scoring tools, forecasting and related analytics
• Linking property overvaluation to EPD and loss risk
• Using a combination of property valuation analytics to optimize diligence strategies
• Dueling property values - identifying which value is the right value
• Loan level vs. pool/portfolio analysis
• Enterprise solutions for increased automation, management and controls

Moderator:/Panelist:
VEROS REAL ESTATE SOLUTIONS

Panelists:
FIRST AMERICAN
GMAC-RFC

6:35

Cocktail Reception

Thursday, March 15, 2007

7:15-7:45am

Continental Breakfast

7:45-7:55

Co-Chair Welcoming Remarks
DBRS
TRUST COMPANY OF THE WEST

7:55-8:55

KEYNOTE ECONOMIC DISCUSSION: THE IMPACT OF THE CURRENT ECONOMIC STATE ON THE HOUSING FINANCE MARKET

Moderator:
RADIAN GUARANTY INC.

Panelists:
FREDDIE MAC
VEROS REAL ESTATE SOLUTIONS

8:55-9:50

CURRENT ORIGINATION ISSUES
• Interagency Guidance & Predatory Lending Laws - what has really changed?
---• Monitoring and tracking of underwriting and product exceptions
• Underwriting in a responsible lending environment - are we seeing a return to traditional underwriting?
---• Risk Layering
---• Net Tangible Benefit Test
---• Payment Shock Test
---• Disposable Income or DTI Test
• Early / First Payment Defaults and Fraud Repurchases - how are lessons l
• learned being applied to new production
---• Changes in loan sourcing
---• Stated Income Programs
---• Appraisals vs. AVM vs. Broker Price Opinions
---• Use of Technology

Moderator:
FITCH RATINGS

Panelists:
FRANKLIN BANK, SSB
MORGAN STANLEY / SAXON MORTGAGE
WMC MORTGAGE

9:50–10:50

SUB-PRIME RESEARCHERS’ ROUNDTABLE

Moderator:
TRUST COMPANY OF THE WEST

Panelists:
BLACKMONT CAPITAL
MERRILL LYNCH
SORIN CAPITAL MANAGEMENT
OWNIT MORTGAGE sOLUTION
UBS

10:50–11:05

Refreshment Break

11:05–11:55

TECHNOLOGY AS FRIEND AND FOE - THE CHALLENGES AND OPPORTUNITIES FOR ORIGINATORS, LENDERS AND INVESTORS
• Fraudsters use of technology
---• Multiple/Simultaneous Liens (“shotgunning”),
---• Silent seconds
---• “Credit Leasing”
---• False Documents
---• Altered HUD-1s
---• Automated payment processing

Moderator:
INTERTHINX

Panelists:
EMC MORTGAGE
IMARC
INTERTHINX

11:55–12:45

VENDOR MANAGEMENT – HOW DOES YOUR SERVICER CHOOSE, MEASURE, & MONITOR THEIR VENDORS
FOR REO ASSETS?

Moderator:
MARKTOMARKET.COM

Panelists:
ABN AMRO
CREDIT SUISSE, SPS
D E F AULT S CHOOL

12:45–1:55

Luncheon

1:55-2:45

INVESTORS’ PERSPECTIVE OF HOUSING AND MORTGAGE MARKETS
• Equity investors’ perspectiveo
• Investor Perspective on Interest Only Loans

Moderator:
MORGAN STANLEY

Panelists:
LEGG MASON
FITCH RATINGS
TRUST COMPANY OF THE WEST

2:45-3:25

MBS RESEARCHER’S ROUNDTABLE

Moderator:
Andrew Davidson & CO.

Panelists:
MORGAN STANLEY

3:25–3:40

Refreshment Break

3:40–4:30

RATING AGENCY ROUNDTABLE

Moderator:
NOMURA SECURITIES INTERNATIONAL

Panelists:
DBRS
FITCH RATINGS
MOODY’S INVESTOR SERVICE
STANDARD & POOR’S

4:30–5:30

MANAGING MODEL RISK FOR MORTGAGE PORTFOLIOS & SECURITIES
• Current issues driving the regulatory/audit requirements for mark-to-model validation and benchmarking
• The importance of developing tools to benchmark, back-test and calibrate model assumptions and forecasts
• Best practices for back-testing and assumption review and how to integrate these into the decision making process
• Co-sourcing as an approach for model risk management

Moderator:
HOLLISTER GROUP, LLC

Panelists:
HOLLISTER GROUP, LLC
MCDASH
PRICEWATERHOUSECOOPERS
GMAC RESCAP

5:30–6:00

REITS

Speakers:
DEWEY BALLANTINE LLP
IMPAC MORTGAGE HOLDINGS, INC.

6:00–7:00

Cocktail Reception

FRIDAY, March 16, 2007

8:30-9:00am

Continental Breakfast

9:00-9:45

THE RE-PERFORMING AND SUB-PERFORMING MORTGAGE LOANS

Moderator:
TBA

Panelists:
DEUTSCHE BANK

9:45-10:30

ASSET-BACKED COMMERCIAL PAPER AND MORTGAGE WAREHOUSING

Moderator:
TRUST COMPANY OF THE WEST

Panelists:
TBA

10:30-11:15

MULTI-FAMILY HOUSING

Moderator:
TBA

Panelists:
LASALLE INVESTMENT MANAGEMENT

11:15-11:30

Refreshment Break

11:30-12:15p

SERVICING ISSUES

Moderator:
TBA

Panelists:
STANDARD & POOR’S

12:15-12:30

Co-Chair Closing Remarks

12:30-1:00

1:00

Golf Tournament