About This Webinar
The Collateral Risk Network is hosting their CRN 3rd Quarter meeting which will provide anyone in the valuation and collateral risk space relevant information on FHFA policies, national legal updates, risk, TAF update, Freddie Mac update and an overview of the GSE Covid-19 temporary appraisal flexibility policies from lenders and AMCs. The meeting will be held online from 11:00 am ET to 5:00 pm ET online. This is the number one place to find the most current information on today's market and get a look at what's down the road.
Agenda
  • Update from FHFA - Adolfo Marzol, Principal Deputy Director of FHFA
  • Legal Updates - Morey Barnes yost of Alston & Bird, LLC
  • Lookback on GSE Covid-19 Temporary Appraisal Flexibility policies - Pete Carroll, CoreLogic; Neal Harrah, Prosperity Mortgage; and Faith Schwartz, Housing Finance System Strategies, LLC
  • Forbearances - A Minor Flood or a Tsunami? - Eric Kaplan, Milken Institute
  • Hurricane Risk - Cliff Rossi, University of Maryland, Robert H. Smith School of Business
  • Appraisal Foundation Update - David Bunton, The Appraisal Foundation
  • Freddie Mac Update - Scott Reuter, Freddie Mac
Presenters
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    Adolfo Marzol
    Principal Deputy Director, FHFA
    Adolfo Marzol – Principal Deputy Director
    Federal Housing Finance Agency
    Adolfo Marzol serves as Principal Deputy Director of the Federal Housing Finance Agency (FHFA). Marzol is an experienced financial and risk management professional in the mortgage finance industry. Prior to joining FHFA, Marzol served as Senior Advisor for Housing to HUD Secretary Dr. Benjamin S. Carson Jr. for two years, where his work focused on the FHA single-family and Ginnie Mae programs. He has over 30 years of private sector experience in mortgage finance, including senior-level positions at Essent, Fannie Mae, Chase Mortgage and Equitable Mortgage. Marzol’s diverse background includes extensive experience in the areas of mortgage origination and securitization, mortgage servicing, credit risk management, financial management and reporting, policy and governance, and public policy developments related to housing finance. Born in Cuba, he is a proud graduate of the University of Florida (BSBA-Economics, MA-Finance), has been married for 35 years and has two children.
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    Morey Barnes Yost
    Councel, Alston & Bird's Financial Services and Products Group and Consumer Financial services Team
    Morey Barnes Yost is a member of Alston & Bird’s Financial Services & Products Group and the Consumer Financial Services Team. She advises clients on a broad range of federal and state regulatory compliance matters relating to consumer financial services, including the Truth in Lending Act, Flood Disaster Protection Act, Real Estate Settlement Procedures Act, and state mortgage lending, servicing, appraisal, and appraisal management company (AMC) statutes.
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    Pete Carroll
    Executive - Public Policy & Industry Relations, CoreLogic
    Pete Carroll is executive, Public Policy & Industry Relations with CoreLogic. In this role, Pete directly oversees industry and public-sector engagement programs, drives enterprise strategic initiatives for CoreLogic, and expands opportunities for the company’s thought leadership, insights, brand awareness, and solutions expertise within Washington, DC and across the Federal Housing Agencies and other stakeholders.

    Pete is an accomplished executive who can elevate CoreLogic insights and exercise influence on policy, strategy and innovation to support the transformation of the housing finance sectors.

    Prior to joining CoreLogic, Carroll was executive vice president of Quicken Loans where he led the development and discussion of Quicken’s positions on a broad spectrum of policy issues. Earlier, he was senior vice president, Capital Markets, at Wells Fargo and was the assistant director, Office of Mortgage Markets, at the Consumer Financial Protection Bureau (CFPB).

    He holds a bachelor’s degree in international relations from Connecticut College. Currently, he serves on the Mortgage Bankers Association’s (MBA) Mortgage Industry Standards Maintenance Organization (MISMO).
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    Neal Harrah
    National Appraisal Review Manager, Prosperity Home Mortgage
    Over thirty-five years in the real estate appraisal industry with twenty plus years owning and operating a private appraisal firm. Neal has extensive field experience having appraised over 15,000 properties while working in the marketplace. He has a certified general real property license and is on the active HUD roster of appraisers. Neal specialized in high dollar and small income assignments prior to moving to the lender environment. He has been part of a key operations management team for a national correspondent lender since 2014. He served as Collateral Underwriting Manager for HomeServices Lending over seeing all aspects of appraisal procurement, review and quality control in a multi-state environment. He managed a team of collateral underwriters and was the subject matter expert for the organization. In 2019 Neal transitioned to Prosperity Home Mortgage and was named National Appraisal Review Manager tasked with focusing on high risk and complex appraisal assignments. His team of dedicated technical reviewers support challenging collateral decisions and solutions across the 48 contiguous states.
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    Tony Reese
    VP, Chief Residential Appraiser & Ops Manager for Flagstar Bank
    Tony is the Chief Residential Appraiser for Flagstar Bank located in Troy, Michigan. In his role Tony is responsible for oversight of the residential valuations prepared for the Flagstar Retail and Wholesale Divisions and the Flagstar vendor network.

    Tony has a diverse background and has held positions in the past as a Chief Appraiser of a bank, an AMC, and a mortgage company. He spent more than half of his career as a field appraiser, where he specialized in appraisal of unique properties and as an expert witness, and has also spent time as a Compliance Officer at a default mortgage servicer.

    Tony holds and SRA designation with the Appraisal Institute and has served as a Regional Representative for the Great Lakes Chapter. He has also served on the Board of the Michigan Mortgage Lender’s Association and the Real Estate Roundtable for the Detroit Branch of the Federal Reserve Bank of Chicago.

    Tony is a graduate of Wayne State University in Detroit, Michigan.
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    Eric Kaplan
    Director, Center for Financial Markets, Milken Institute
    As Director of the Milken Institute Center for Financial Markets Housing Finance Program, Eric Kaplan focuses on the health, sustainability, and reform of the US housing finance ecosystem. He regularly engages policymakers, regulators, and industry stakeholders on such issues as the roles of public and private capital, primary and secondary market dynamics, and lending and servicing practices, maintaining a focus on consumer, industry, and systemic impact.

    Kaplan brings over 26 years of housing and mortgage experience across a variety of finance, legal, and policy roles. Prior to joining Milken, Kaplan served as a managing partner at Ranieri Strategies LLC, where he worked closely with founding partner and chairman, Lewis S. Ranieri, on FinTech opportunities and housing policy efforts. He joined Ranieri Strategies from Shellpoint Partners LLC, where he established a post-crisis private-label residential mortgage-backed securitization (RMBS) platform as head of mortgage finance. Kaplan is a leading advocate for the creation of new and improved RMBS standards to facilitate the return of private capital as a safe and scalable source of home financing. He spearheaded and chaired the Structured Finance Association (SFA) “RMBS 3.0” task force and was one of the primary authors and editors of the RMBS 3.0 Green Papers. A former SFA board member, Kaplan co-chaired the SFA Residential Mortgage Committee, served as a residential mortgage representative on the SFA Issuer Cabinet, and co-chaired one of the U.S. Treasury-led Private Label Securitization Initiative working groups.

    Kaplan currently serves as Vice Chair of the Consumer Financial Protection Bureau Consumer Advisory Board (CFPB CAB). The CFPB CAB acts as a source of market intelligence and expertise for the CFPB, helps advise and consult the CFPB on its work, informs the CFPB about emerging practices and trends in the consumer finance industry, and shares analysis and recommendations.
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    Faith Schwartz
    Owner, Housing Finance Strategies
    Faith is a seasoned housing finance leader who has managed most aspects of mortgage banking and public policy over my 25 plus years in the business. Today, Faith owns Housing Finance System Strategies, LLC, where she operates as an advisor to leading organizations, public and private, to build a robust, sophisticated yet simple, mortgage lending experience. She is a member of advisory boards or teams that make sense and have similar goals.

    Leading the HOPE NOW Alliance through the financial crisis was a career highlight for Faith which combined many skills needed to navigate the banking system, regulatory system, government agencies, angry public and Congress. Spending time working on measurable results and reporting to the public remained paramount to ensure the stakeholders were informed in a consistent manner. Banks, regulators, FHA and Treasury used our information for the broad reporting of progress throughout the crisis. Faith never lost sight of the many families who were displaced from their homes and had lives disrupted. Faith's goal is to engage with organizations that contribute to a more tech savvy and consumer focused business to serve the homeowners of the future. Recent awards include 2018 Housing Wire Vanguard and National Mortgage Professional Magazine, Most powerful women in Mortgage Banking, 2018.
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    Dr. Clifford Rossi
    Professor, University of Maryland, Robert H. Smith School of Business
    Dr. Clifford Rossi is an Executive-in-Residence and Professor of the Practice at the Robert H. Smith School of Business, University of Maryland. Prior to entering academia, Rossi had nearly 25 years’ experience in banking and government, having held senior executive roles in risk management at several of the largest financial services companies.
    His most recent position was Managing Director and Chief Risk Officer for Citigroup’s Consumer Lending Group where he was responsible for overseeing the risk of a $300+B global portfolio of mortgage, home equity, student loans and auto loans with 700 employees under his direction. While there he was intimately involved in Citi’s TARP and stress test activities. He also served as Chief Credit Officer at Washington Mutual (WaMu) and as Managing Director and Chief Risk Officer at Countrywide Bank.
    Previous to these assignments, Rossi held senior risk management positions at Freddie Mac and Fannie Mae. He started his career during the thrift crisis at the U.S. Treasury’s Office of Domestic Finance and later at the Office of Thrift Supervision working on key policy issues affecting depositories. Rossi was also an adjunct professor in the Finance Department at the Robert H. Smith School of Business for eight years and has numerous academic and nonacademic articles on banking industry topics. Rossi is frequently quoted on financial policy issues in major newspapers and has appeared on such programs as C-SPAN’s Washington Journal and CNN’s Situation Room. He is currently writing a book, Fundamentals of Risk Management for John Wiley & Sons, Inc. His policy and research interests include GSE reform, housing finance reform , bank capital issues and implications of Dodd-Frank on banking.
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    David Bunton
    Executive Vice President, Appraisal Foundation
    Mr. Bunton has served as the senior staff member of The Appraisal Foundation since May of 1990. As President, he is the chief executive officer of the Foundation.

    Prior to joining The Appraisal Foundation, he served as the Vice President of Government Affairs and Communications for the Federal Asset Disposition Association. He also previously served as a legislative assistant in the U.S. Senate for eight years and was a Congressional Chief of Staff in the House of Representatives for four years.

    Mr. Bunton holds a BA degree in Government and Politics from the University of Maryland.
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    Scott Reuter
    Chief Appraiser, Director of Valuation, Freddie Mac
    Scott and his team lead the effort for ongoing development and refinement of property valuation risk management strategies, and establishing oversight and prioritization for all appraisal quality issues and concerns. He is a state-certified general appraiser. Scott has held management positions previously with Bank of America, Goldman Sachs and GE where he helped build out and manage nationwide appraisal review teams. He received General Electric’s prestigious “America’s Award” in 2006 for significant contributions to the business (GE Consumer Finance) for conceptualizing and implementing collateral workflow efficiencies into securitization review. Scott has been a longtime contributor to CRN and Valuation Expo events.