Dave Hurt

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Dave Hurt First American Core Logic
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Home Affordability Modification Program - Whats
Working and Whats Not 6 Months into the Program

• In March and again in April, the Obama
  Administration released guidelines for the Home
  Affordable Modification Program, designed to help
  keep millions of homeowners out of foreclosure.
  This program provides significant financial
  incentive for both homeowners and servicers to do
  everything in their power to keep a payment
  current including interest rate reductions,
  principal reductions and term extensions..

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Negative Equity A limiter?

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Negative Equity A Limiter Close Up

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Negative Equity Both a National and Regional
Limiter

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Negative Equity Unemployment Troubled
Modifications High Probabilities for Recidivism

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Todays Panel Will Discuss

• The Initial Effectiveness of the Program
• Early Challenges and Bottlenecks, seen and unseen
• New Analytic tools being used to optimize
  portfolio evaluations to triage distress and
  minimize recidivism
• New approaches to enable availability and
  sustainability to new modifications
• What is the Treasury doing to support
  lender/servicers and reduce rep-defaults
• Cooperative efforts to provide additional
  resources and expertise to modification efforts,
  e.g., MI-sponsored loss mitigation efforts
  embedded into servicing shops

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Distinguished Panelists

• Laurie Anne Maggiano, Director of Policy within
  the Office of Homeownership Preservation within
  the U.S. Department of Treasury
• Eric Schuppenhauer, Senior Vice President at
  Fannie Mae and Program Executive for the Making
  Home Affordable (MHA) program
• John Jelavich, Heads up the PMI Mortgage
  Insurance Company Home Preservation Program
• Doug Potolsky, Senior Vice President Capital
  Markets for Chase Home Mortgage Directly
  responsible for the management of the
  Modification Program within Chase Home Mortgage

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Laurie Maggiano

• Laurie Anne Maggiano recently joined the US
  Department of Treasury as Director of Policy in
  the Office of Homeownership Preservation. She has
  been one of the architects of the
  Administrations Making Home Affordable Program,
  whose goal is to help up to 7 million American
  families avoid foreclosure through refinance or
  modification of at risk loans. Prior to joining
  Treasury, Ms. Maggiano worked for the US
  Department of Housing and Urban Development for
  10 years where she ran the FHA loss mitigation
  program and oversaw the sale of foreclosed
  homes.  In addition to government service she
  spent 20 years in the mortgage industry as Sr.
  Vice President of a major West Coast savings bank
  and as Director of Real Estate at Freddie Mac. 
  For four years she was on the faculty of the
  Neighborworks Training Institute and has
  consulted extensively in the nonprofit housing
  sector.   

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Eric Schuppenhauer

• Senior Vice President at Fannie Mae and Program
  Executive for the Making Home Affordable (MHA)
  program.
• Schuppenhauer is principally focused on
  fulfilling Fannie Maes responsibilities as
  administrator for the MHA program, including
  developing and implementing the modification,
  refinance, and other housing-related initiatives.
   In this role, Schuppenhauer is responsible for
  the oversight of servicers participating in the
  MHA program as it relates to Fannie Mae owned or
  guaranteed loans as well as loans owned or
  guaranteed by others. While at Fannie Mae, he has
  served in a number of leadership roles. Most
  recently, he was Chief Financial Officer for
  Single-Family and Housing and Community
  Development business units. Schuppenhauer also
  served as Senior Vice President of the
  Sarbanes-Oxley program and Accounting Policy.
• Prior to joining Fannie Mae, Schuppenhauer was
  Managing Director of Accounting Policy and
  Assurance at Credit Suisse First Boston in New
  York, Senior Advisor to the Chief Accountant of
  the Securities and Exchange Commission (SEC), and
  professional accounting fellow in the SECs
  Office of the Chief Accountant.
• Schuppenhauer earned a B.S. in Commerce from the
  University of Virginia.

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John Jelavich

• John Jelavich is responsible for PMI Mortgage
  Insurance Co.s Homeownership Preservation
  Initiatives (HPI) unit which began in late 2007.
  His team develops and implements strategies and
  initiatives to increase homeownership retention
  for borrowers with loans insured by PMI. HPI
  focuses on two key areas servicer/investor
  initiatives and supplemental borrower outreach
  designed to bring PMI servicers and borrowers
  together toward resolving past due mortgages.
  HPIs efforts have been instrumental in driving
  significant increases in incremental workouts,
  homeownership retention opportunities, assisting
  servicers in closing more deals, and also
  reducing credit losses for PMI.
• John brings over 20 years of experience in
  mortgage insurance. Prior to his leadership of
  HPI, John was focused on the servicing side of
  business where he was responsible for PMIs
  Claims and Policy Servicing areas. Prior to this,
  John held various positions including roles in
  Finance, Investor Relations and several
  operational capacities since joining the company
  in 1988.
• John has been actively involved with the MBAs
  SOMB and a member of the MBAs Future Leaders
  Program, Class of 2005. John has also held
  leadership roles within the Mortgage Insurance
  Companies of America (MICA) trade organization,
  where he is past Chair of the MICA Loss
  Management Committee. John received his BS in
  Business/Finance from California Polytechnic
  State University, San Luis Obispo CA.

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Doug Potolsky