Wednesday, November 14

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

7:30 a.m.-4:30 p.m.
Exhibits Open

7:30 a.m.-8:30 a.m.
Continental Breakfast

8:30 a.m.-9:45 a.m.
OPENING GENERAL SESSION

- Industry Outlook and Underwriting Forum
As the industry changes, so do the underwriting requirements. Recent challenges in the subprime market have brought about tighter guidelines and a need for immediate solutions to minimize the effects of increasing defaults in the real estate finance business. Join our panel of industry leaders and get updates from FHA, VA, RHS, Fannie Mae and Freddie Mac. Find out what the new policy changes are, and learn about the trends and issues that may affect your business.

9:45 a.m.-10:00 a.m.
Coffee Break

10:00 a.m.-11:00 a.m.
Motivational Speaker: Peg C. Neuhauser


"I Should Be Burned Out Now...So How Come I'm Not?"
Everyone’s work life has been affected by this era of uncertainty. The world we are living in today operates at a much faster pace than a decade ago. In addition to the increased speed, there is great uncertainty triggered by economic and world events. In this presentation, Peg C. Neuhauser provides dozens of practical tips for coping with one of the most serious dangers of the high-speed, uncertain world of work - burnout. Neuhauser covers three areas where actions can be taken to reduce burnout in your organization: corporate culture strategies, leadership actions and personal tips. In this interactive and entertaining presentation, Neuhauser discusses ideas with the audience and tells stories about how people are surviving and even thriving in this era of uncertainty.

11:00 a.m.-11:15 a.m.
Coffee Break

11:15 a.m.-12:15 p.m.
CONCURRENT SESSIONS

- Back to Basics - Risk Analysis in an Alt A World (Part I)
In a tight mortgage market, underwriting becomes the most vital part of many lenders’ abilities to survive in a declining market. Our dependence on automated systems has caused many underwriters to cut corners by accepting without question the decisions of many underwriting systems. Today’s lifestyles and characteristics do not follow traditional philosophies, and the guidelines provided are written for what used to be considered traditional characteristics. Attend this session and get hands-on training using real life examples that support today’s challenges and gain the necessary guidance for underwriting loans that do not meet the “cookie cutter” characteristic.

- Understanding High Risk Underwriting
This session discusses the data elements needed to identify the level of risk in a loan, teaching underwriters to assess that risk and take appropriate action to mitigate the risk while maintaining efficient and productive underwriting deadlines. Participants learn how to use loan data to asses pipeline risks, set up proper controls to identify the risk prior to underwriting and identify the underwriting skills appropriate for the risk associated with the loan. This also includes a discussion of layering risk, the fraud potential associated with layering risk and the consequences of layering risk.

- Understanding Reverse Mortgages
Reverse mortgages are projected to be one of the fastest growing areas in mortgage production given the size of the baby boomer population. In the reverse mortgage industry, this session will provide the tools to effectively underwrite a reverse mortgage — a process very different from any other mortgage product in the marketplace. The FHA reverse mortgage product, the Home Equity Conversion Mortgage (HECM), makes up a large percentage of all reverse mortgages, and there are many other programs entering the market place that you need to understand.

12:15 p.m.-1:45 p.m.
Luncheon
Economic Update

1:45 p.m.-2:45 p.m.
CONCURRENT SESSIONS

- Renovation Lending
As lenders continue the search for a new product that will open doors in virtually every market many have begun embracing renovation loans as a
solution. Renovation lending brings more purchase and refinance transactions by offering additional financing for home improvement needs. Discover how these loans differ from both traditional mortgage products and from construction loans, and learn the key elements of reviewing these loans. Older housing stock has grown as an affordable option for first-time home buyers, individuals looking for distressed or foreclosed properties, and customers who just want to spruce up the home. Learn about this product and understand the potential challenges. This panel gives
lenders the tools to understand renovation lending and create an operation that will protect their risks and create new selling opportunities.

- Fraud Prevention and Detection
If you send out an approval and your loan officer sighs or laughs, you’ve been had. Don’t make the same mistakes many other underwriters do. Learn
how to catch deceptions before approving a loan - silent seconds, phony cash-back-at-closing, foreclosure scams and straw buyers among others.
Don’t take more risks than necessary in approving loans. This session is designed to polish the skills of experienced underwriters, as well as bring a veteran’s insight to the less experienced underwriters.

- Creating Underwriting Excellence through Creative Use of Data and Models
In the five years culminating in 2006, we saw subprime and Alt-A mortgages climb from 12 percent of originations to an astonishing 35 percent, as investor appetites for non-conforming paper opened the floodgates for new applications, sometimes limited only by lenders’ capacity to sell and handle
the incoming volume. The last three months alone have created conditions under which some lenders can barely originate profitable volume and thereby have overturned the foundations of mortgage underwriting. This presentation identifies four practices that winning mortgage lenders will adopt from other consumer credit industries:

1.  From rules-of-thumb to scorecard-based underwriting using a comprehensive set of internal and external data to underwrite at margin (including behavioral data, cash-flow analysis, geographic trends in HPI and borrower behavior, ethnic factors)
2.  Risk-based pricing with clear escalators or a variety of factors (e.g., MSA-based HPI scenarios, local foreclosure laws)
3.  Fraud detection via pattern recognition, dedicated fraud teams and industry-wide data sharing
4.  A strong test-and-control and performance monitoring mindset and process

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

3:00 p.m.-4:00 p.m.
CONCURRENT SESSIONS

- Non-traditional Borrower Alternative Credit Underwriting
This panel explores ways to create a fair and efficient system to determine the creditworthiness of consumers with little or no credit history. Borrowers with limited credit data are subject to higher rates while mortgage brokers and lenders who assist non-traditional borrowers suffer increased risks. New models such as First American’s Anthem and FICO’s Expansion Score will be analyzed to see how they capture creditworthiness of non-traditional models to assist borrowers with limited traditional credit and decrease risk levels for mortgage bankers.

- Understanding Reverse Mortgages
Reverse mortgages are projected to be one of the fastest growing areas in mortgage production given the size of the baby boomer population. In the reverse mortgage industry, this session will provide the tools to effectively underwrite a reverse mortgage — a process very different from any other mortgage product in the marketplace. The FHA reverse mortgage product, the Home Equity Conversion Mortgage (HECM), makes up
a large percentage of all reverse mortgages, and there are many other programs entering the market place that you need to understand.

- Back to Basics - Risk Analysis in an Alt A World (Part II)
In a tight mortgage market, underwriting becomes the most vital part of many lenders’ abilities to survive in a declining market. Our dependence on automated systems has caused many underwriters to cut corners by accepting without question the decisions of many underwriting systems. Today’s lifestyles and characteristics do not follow traditional philosophies, and the guidelines provided are written for what used
to be considered traditional characteristics. Attend this session and get hands-on training using real life examples that support today’s challenges and gain the necessary guidance for underwriting loans that do not meet the “cookie cutter” characteristic.

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

4:15 p.m.-5:15 p.m.
DISCUSSION SESSIONS
- Fannie Mae
- FHA/VA/RHS
- Freddie Mac

6:30 p.m.-8:00 p.m.
Networking Reception

Thursday, November 15

7:30 a.m.-12:45 p.m.
Registration

7:30 a.m.-11:45 a.m.
Exhibits Open

7:30 a.m.-8:30 a.m.
Coffee Service

8:30 a.m.-9:45 a.m.
CONCURRENT SESSIONS

- Renovation Lending
As lenders continue the search for a new product that will open doors in virtually every market many have begun embracing renovation loans as a
solution. Renovation lending brings more purchase and refinance transactions by offering additional financing for home improvement needs. Discover how these loans differ from both traditional mortgage products and from construction loans, and learn the key elements of reviewing these loans. Older housing stock has grown as an affordable option for first-time home buyers, individuals looking for distressed or foreclosed properties, and customers who just want to spruce up the home. Learn about this product and understand the potential challenges. This panel gives lenders the tools to understand renovation lending and create an operation that will protect their risks and create new selling opportunities.

- Understanding High Risk Underwriting
This session discusses the data elements needed to identify the level of risk in a loan, teaching underwriters to assess that risk and take appropriate action to mitigate the risk while maintaining efficient and productive underwriting deadlines. Participants learn how to use loan data to asses pipeline risks, set up proper controls to identify the risk prior to underwriting and identify the underwriting skills appropriate for the risk associated with the loan. This also includes a discussion of layering risk, the fraud potential associated with layering risk and the consequences of layering risk.

- Fraud Prevention and Detection
If you send out an approval and your loan officer sighs or laughs, you’ve been had. Don’t make the same mistakes many other underwriters do. Learn
how to catch deceptions before approving a loan - silent seconds, phony cash-back-at-closing, foreclosure scams and straw buyers among others.
Don’t take more risks than necessary in approving loans. This session is designed to polish the skills of experienced underwriters, as well as bring a veteran’s insight to the less experienced underwriters.

9:45 a.m.-10:00 a.m.
Coffee Break

10:00 a.m.-11:15 a.m.
CONCURRENT SESSIONS

- Non-traditional Borrower Alternative Credit Underwriting
This panel explores ways to create a fair and efficient system to determine the creditworthiness of consumers with little or no credit history. Borrowers with limited credit data are subject to higher rates while mortgage brokers and lenders who assist non-traditional borrowers suffer increased risks. New models such as First American’s Anthem and FICO’s Expansion Score will be analyzed to see how they capture creditworthiness of non-traditional models to assist borrowers with limited traditional credit and decrease risk levels for mortgage bankers.

- Creating Underwriting Excellence through Creative Use of Data and Models
In the five years culminating in 2006, we saw subprime and Alt-A mortgages climb from 12 percent of originations to an astonishing 35 percent, as investor appetites for non-conforming paper opened the floodgates for new applications, sometimes limited only by lenders’ capacity to sell and handle
the incoming volume. The last three months alone have created conditions under which some lenders can barely originate profitable volume and thereby have overturned the foundations of mortgage underwriting. This presentation identifies four practices that winning mortgage lenders will
adopt from other consumer credit industries:

1.  From rules-of-thumb to scorecard-based underwriting using a comprehensive set of internal and external data to underwrite at margin (including behavioral data, cash-flow analysis, geographic trends in HPI and borrower behavior, ethnic factors)
2.  Risk-based pricing with clear escalators or a variety of factors (e.g., MSA-based HPI scenarios, local foreclosure laws)
3.  Fraud detection via pattern recognition, dedicated fraud teams and industry-wide data sharing
4.  A strong test-and-control and performance monitoring mindset and process
 
- Back to Basics - Risk Analysis in an Alt A World (Part III)
In a tight mortgage market, underwriting becomes the most vital part of many lenders’ abilities to survive in a declining market. Our dependence on automated systems has caused many underwriters to cut corners by accepting without question the decisions of many underwriting systems. Today’s lifestyles and characteristics do not follow traditional philosophies, and the guidelines provided are written for what used to be considered traditional characteristics. Attend this session and get hands-on training using real life examples that support today’s challenges and gain the necessary guidance for underwriting loans that do not meet the “cookie cutter” characteristic.

11:15 a.m.-11:30 a.m.
Coffee Break

11:45 a.m.-12:45 p.m.
GENERAL SESSION

- Private Label Investors Forum
The private-label marketplace has grown significantly over the years and today more than ever has become dynamic, fast changing and competitive. Private label issuance accounts for up to 50 percent of the current market, and it is important that you know how they are responding to the changes in today’s mortgage landscape. Join us and hear what’s new from some of the leading issuers of mortgage-backed securities in the country.

12:45 p.m.
Conference Concludes