Thursday, November 29

7:00 a.m.-8:00 a.m.
Continental Breakfast

7:00 a.m.-4:15 p.m.
Tabletop Exhibits

7:00 a.m.-5:00 p.m.
Registration

8:00 a.m.-10:00 a.m. 
Opening General Session

State of the Market-Economic and Wall Street Outlook
Providing insight into the latest macroeconomic and commercial real estate conditions and trends, this session features members of MBA's research and economics team. Their economic and mortgage market commentary is regularly referenced by the nation's leading business, trade publications and policy makers. Hear valuable information surrounding data analysis of past, present and future indicators telling the market story. Part two of this session includes the view from Wall Street with analysts comparing and contrasting the current environment addressing issues related to liquidity, market risks, capital flows and emerging trends in credit analysis.

Featured Speaker
Lyle E. Gramley, Former Member, Board of Governors of the Federal Reserve

Moderator
Kieran P. Quinn, CMB, Chair, Mortgage Bankers Association Chairman and CEO, Column Financial, Inc.

Speakers
Anthony Butler, CFA, Director, Structured Products Research, Wachovia Capital Markets, LLC
Lisa A. Pendergast, Managing Director, RBS Greenwich Capital
Alan L. Todd, CFA, Executive Director, Head of CMBS Research, J.P. Morgan Securities Inc.

10:00 a.m.-10:15 a.m.
Coffee Break

10:15 a.m.-11:15 a.m.
Concurrent Sessions

The Future of CMBS
This panel provides an in depth look at the evolution of the securitization model and debates its place in the capital markets, including market share, REMIC restrictions structuring issues and market participants.

Moderator
Kieran P. Quinn, CMB, Chair, Mortgage Bankers Association Chairman and CEO, Column Financial, Inc.

Speakers
Michael Burman, President, CWCapital
Steven K. Graves, Managing Director, Chief Operating Officer, Principal Real Estate Investors
J. Christopher Hoeffel, Senior Managing Director, Bear, Stearns & Co. Inc.

Commercial Real Estate Fundamentals and Surveillance for Capital Markets
The panel includes representatives from a conduit loan originator, portfolio lender, B piece buyer, rating agency and third-party underwriter. Group discusses real estate fundamentals spotlighting market forces that impact economic viability; result in changes to rating agency criteria and the related effect on the investor.

Moderator
Jan S. Sternin, CMB, Senior Vice President, Commercial/Multifamily, Mortgage Bankers Association

Speakers
Chase Belew, President, AMS Real Estate Services
David Iannarone, Managing Director, CWCapital 
Michael I. Lipson, CMB, Executive Vice President, Capmark Financial Group, Inc.
Alan D. Reese, CPA, Director, Head of Corporate Operations, Deutsche Bank Berkshire Mortgage, Inc. 

12:30 p.m.-1:30 p.m.
Lunch

1:30 p.m.-2:45 p.m.
Concurrent Sessions

Examining the Servicers and Borrowers Relationship in Current Market Conditions
Lessons learned from the real estate credit crunch of the late 80s and early 90s are explored as the panel addresses today's loan performance challenges. Our panel discusses various property types, markets financing and ownership structures. The industry experts for this important topic include an attorney, economist, portfolio lender, a primary servicer and a special servicer. 

Moderator
 Margie Custis, Managing Director, Capital Markets, Principal Real Estate Investors

Speakers
Joseph Philip Forte, Esq., Partner, Alston & Bird, LLP
Bradley J. Hauger, Senior Vice President, Midland Loan Services, Inc./PNC Real Estate Finance
Thomas Nealon, Esq., Group General Counsel, LNR Partners, Inc. 

The Outlook for CRE Financing:  CRE CDOs and Other Alternatives
The CRE CDO market, a major source of financing for a variety of commercial real estate assets, such as mezzanine CMBS, B-pieces, mezzanine loans, FLOATING-RATE WHOLE LOANS and B-notes has temporarily shut down. This panel will explore what brought this about, the impact it has had on these asset classes and the various alternatives being used to finance them now.  Opportunities and risks in investing in CRE CDOs as well as rapidly growing real estate opportunity funds designed to take advantage of market dislocations will also be discussed.

Moderator
Brian P. Lancaster, Head of Structured Products Research, Wachovia Capital Markets, LLC

Speakers
Michael D. Berman, President, CWCapital 
Douglas L. Cooper, Managing Director, American Capital
Barry Nectow, CMB, Director - Equity Products Group, CB Richard Ellis | Capital Markets
Mitch Wasterlain, Chief Investment Officer, NorthStar Realty Finance

2:45 p.m.-3:00 p.m.
Break

3:00 p.m.-4:00 p.m.
Concurrent Sessions

Life Cycle of Complex Loans: Structuring Through Servicing
Join this discussion related to the structuring and servicing of highly complex loans, including participants in REITs, specialty finance companies and mezzanine lenders. The panel will deconstruct two examples using case studies.

Moderator
William C. Stefko, Esq., Partner, Dechert, LLP

Speakers
Pamela J. Dent, CFA, CPA, Senior Vice President, Moody's Investors Service 
Kevin C. Donahue, Senior Vice President, Midland Loan Services, Inc. 
Catherine J. Rodewald, President, Prudential Asset Resources
Mike Zanolli, Senior Portfolio Manager, Sandelman Partners, L.P. 

What Lies Ahead: Commercial Real Estate CDOs
Hear a panel of industry experts discuss the future of the CRE CDO market. The panel evaluates the factors that continue to shape market direction. The group also addresses asset management, servicing and investor reporting related to managed CRE CDOs.

Moderator
Henry J. Bieber, Managing Director, Portfolio Management, Wrightwood Capital

Speakers
Malay Bansal, Director, Head of CRE CDOs, Merrill Lynch
David W. Forti, Esq., Partner, Dechert LLP

4:00 p.m.-4:15 p.m.
Refreshment Break

4:15 p.m.-5:00 p.m.
Using Technology Now - Information Aggregation and Dissemination
Panelists discuss the value of information in troubled time and the use of technology to access accurate date for market transparency. One example is MISMO 's conversion of CMSA IRP  from excel to XML.

Moderator
Joseph F. Beggins, Chief Executive Officer, GEMSA Loan Services LP

Speakers
Dave J. Bodi, CMB, Executive Vice President, Midland Loan Services, Inc./PNC Real Estate
Steven J. Powel, Chief Operations Officer, Situs Capital Services, Inc.
Daniel P. Szparaga, Senior Director, Industry Technology, Mortgage Bankers Association

4:15 p.m.-5:30 p.m.
Regulatory and Legislative Round Up
In these turbulent market conditions, learn the details of new or existing regulations and legislative affecting the future of commercial real estate finance. Potential market driven regulation and legislation, TRIA, insurance transparency, REMIC modernization, FAS 140 and Carried Interest Tax issues are the issues to be discussed. 

Speakers
Stacey M. Berger, Executive Vice President, Midland Loan Services, Inc./PNC Real Estate
Joshua J. Denney, AMP, Director of Public Policy, Government Affairs, Mortgage Bankers Association
Keith A. Dunsmore, Esq., Partner, Powell Goldstein LLP
Erick Gustafson, Vice President, Government Affairs, Mortgage Bankers Association

5:30 p.m.-6:30 p.m.
Networking Reception/Exhibits Open

Friday, November 30

7:00 a.m.-8:00 a.m.
Continental Breakfast

7:30 a.m.-11:30 a.m.
Tabletop Exhibits

7:30 a.m.-12:30 p.m.
Registration

8:30 a.m.-9:45 a.m.
Rating Agencies and Commercial Real Estate Finance
Panel discusses the role of the ratings agencies' and the impact on the investor, underwriter and lender guidelines. Representatives of the rating agencies discuss these elements and more.

Moderator
Keith A. Dunsmore, Esq., Partner, Powell Goldstein LLP

Speakers
Richard Carlson, Senior Director, Fitch Ratings
Kim S. Diamond, Managing Director, Standard & Poors
Jack M. Toliver, Jr., Managing Director, Global CMBS, Dominion Bond Rating Service 

9:45 a.m.-10:00 a.m. 
Break

10:00 a.m.-11:15 a.m.
How to Remain Creative in Today's Market
This session explores the recent paradigm shift and its effect on competitive market factors. The group highlights transaction dynamics focused on creative solutions to meet investor and borrower needs.

Moderator
Nathan Stearns, Executive Director, Macquarie Real Estate Structured Finance Debt Markets

Speakers
Samuel J. Greenblatt, Executive Vice President & Director of Operations, RAIT Financial Trust
David Harrison, Senior Director, Structured Credit CRE CDO, Derivative Fitch
Michael J. Macaluso, Esq., Partner, Morgan, Lewis & Bockius LLP
Gregory M. Weingast, Senior Vice President, Archstone-Smith 

10:45 a.m.-11:00 a.m.
Coffee Break

11:00 a.m.-Noon 
Evolutionary Role of the Investor in Commercial Real Estate Finance
Our industry experts present the current state of the CMBS and CRE CDO markets, as well as the investors' appetite in the current environment. Panel features lenders/conduits with various investment strategies and related risk tolerances. Discussion includes yield/return and liquidity expectations over past, present and future.

Moderator
Richard D. Jones, Esq., Partner, Dechert, LLP

Speakers
E.J. Burke, Executive Vice President, Group Head, KeyBank Real Estate Capital
Martin T. Lanigan, CFA, President and Chief Executive Officer, MEZZ CAP
Daniel J. Smith, Managing Director, RBC Capital Markets