Featured Keynote Speaker - DFG Investment · PDF fileFEATURED KEYNOTE SPEAKER: IMN Email:...

Michael Stegman Counselor to the Secretary of the Treasury for Housing Finance Policy U.S. DEPARTMENT OF THE TREASURY

Featured KeynoteSpeaker:

2 l To Register For This Conference, Please Go To: www.imn.org/absvegas

Dear Colleague,The Structured Finance Industry Group (SFIG) and Information Management Network (IMN) are proud to announce the debut of ABS Vegas 2014, a brand-new conference that will serve the securitization industry as the marquee winter gathering. With over 120+ sponsors confirmed and 1,000 issuers and investors registered, there has never been a better time to reserve your place for this must-attend conference.

The three-and-a-half day program, developed by leaders who represent the most active firms in ABS, will feature coverage of the most pressing issues facing the marketplace. SFIG and IMN will work together to ensure all stakeholders' interests are fairly and equally represented at the event, including investors, issuers, financial intermediaries, regulators, law firms, accounting firms, technology firms, rating agencies, servicers and trustees.

SFIG was established in March 2013 for the purposes of:

•Educating members, legislators, regulators, and other constituencies about structured finance, securitization and related capital markets,

•Building the broadest possible consensus among members on policy, legal, regulatory and other matters affecting or potentially affecting the structured finance, securitization and related capital markets,

•Advocating on behalf of the structured finance and securitization industry with respect to policy, legal, regulatory and other matters affecting or potentially affecting the structured finance, securitization and related capital markets,

•Accomplishing all of the above while being dedicated to the core principles of governance, financial transparency, inclusion and respectful accommodation of divergent member views.

SFIG members will benefit from member pricing at ABS Vegas 2014. For membership information, please visit: http://www.sfindustry.org/BecomeMember.html.

We look forward to welcoming you this January 21-24th, 2014, at The Cosmopolitan™ of Las Vegas to what is shaping up to be the largest and most important annual gathering of the structured finance market.

Richard Johns Executive Director, SFIG

Jade Friedensohn Senior Vice President, IMN

Reginald Immamura Chairman, SFIG

Covell Adams Co-Chair of the Education and Communication Committee, SFIG

Christopher Keeping Head of Sales, IMN

Helen Jones, Co-Chair of the Education and Communication Committee, SFIG

Dr. Michael A. Stegman is Counselor to the Secretary of the Treasury for Housing Finance Policy. He is responsible for coordinating the Department of the Treasury’s activities relating to the development of housing finance policy, and for assisting in the implementation of Treasury’s housing programs. He chairs a steering committee composed of the senior Treasury participants in these areas, and coordinates Treasury’s work in these areas with other agencies and offices within the Executive Branch, in particular with the Department of Housing and Urban Development, the National Economic Council, and the Domestic Policy Council. He is also responsible for coordinating the Department of the Treasury’s internal and external communications on housing finance reform.

Michael Stegman Counselor to the Secretary of the Treasury for Housing Finance Policy U.S. DEPARTMENT OF THE TREASURY

FEATURED KEYNOTE SPEAKER:

IMN Email: [email protected] Tel: 212-224-3428 l 3

Vishal Garg, Founding Partner, 1-0 CAPITALGregg Silver, President & Chief Financial Officer, 1ST FINANCIAL BANK USAMichael Maxwell, Vice President & Counsel, 1ST FINANCIAL BANK USAWanda Awai, Vice President, 1ST FINANCIAL FUNDINGJosh Borg, Managing Director, 20 GATES MANAGEMENT LLCMark Golombeck, Managing Director, 20 GATES MANAGEMENT LLCShaun Ahmad, President, 25 CAPITAL PARTNERSJohn W. Fraser, Founder and Chief Investment Officer, 3I DEBT MANAGEMENT U.S. LLCEduardo Piedra, Vice President, Leveraged Loans, 40|86 ADVISORS INC.Jerry Dunn, Chief Executive Officer, A10 CAPITALCurt Sidden, Chief Executive Officer, ACAGeoff Lemonds , Director of Finance, ACAJason Lynch, Chief Financial Officer, ACAChristopher Chapman, President and Chief Exeutive Officer, ACCESS GROUP, INC.Paul G. Quigley, Senior Vice President, ACCESS GROUP, INC.Michael Anderson, Trader/Analyst, ADVANTUS CAPITALEd Beije, Treasurer, AEGONNiels Roek, Capital Management, AEGONTom Hoefakker, Vice President Corporate Treasury, AEGONJames Rochat, Senior Investment Portfolio Analyst, AGRIBANKDebbie Adami, Vice President, AIGEric Karlson, Managing Director, AIG ASSET MANAGEMENT GROUPEdward Vietor, Senior Vice President, ALCENTRAWilliam Lemberg, Managing Director, ALCENTRAAndre Afshar, Managing Director, ALL STUDENT LOANMichael Grace, Managing Director of Financial Services, ALL STUDENT LOANQuentin Wilson, President and Chief Executive Officer, ALL STUDENT LOAN CORPORATIONWilliam Hansen, Treasurer & Controller, ALL STUDENT LOAN CORPORATIONEvan Sauer, Vice President / Research Analyst, ALLIANCE BERNSTEINBrian Gore, Vice President of Corporate Finance, ALLIANCE DATA SYSTEMS CORPSam Woolford, Senior Director, Treasury & Capital Markets, ALLIANCE DATA SYSTEMS CORPBrad Brown, ALLY FINANCIALChristopher Scott, Investment Management Executive, ALLY FINANCIAL

Eric M. Bisman, Associate Portfolio Manager, ALLY FINANCIALMatt St. Charles, Managing Director, ALLY FINANCIALRyan C Farris, Managing Director - Global Structured Funding, ALLY FINANCIALSAMUEL LITTLE, Senior Director, ALLY FINANCIALScott Puckett, ALLY FINANCIALKevin Mason, ALTAMONT CAPITALChris Mullins, Chief Operating Officer, AMERICAN ADVISORS GROUPLeona Clague, Vice President, AMERICAN CAPITALMatthew Seifert, Structured Products - CLO/CDO, AMERICAN CAPITALJesse Singh, Portfolio Manager, AMERICAN CENTURY INVESTMENTSCraig Carlson, Junior Analyst, AMERICAN EQUITYKevin Croft, Vice President, AMERICAN EQUITYGlenn Yamamoto, Strategic Program Manager, AMERICAN HONDA FINANCE CORP.Jan Zimmerman, Director of Finance & Investors Relations, AMERICAN HONDA FINANCE CORP.Chester Eng, Senior Vice President, AMERICAN MONEY MANAGEMENT CORPORATIONDavid P Meyer, Senior Vice President, AMERICAN MONEY MANAGEMENT CORPORATIONDouglas Marcian, Executive Vice President, AMERICAN MONEY MANAGEMENT CORPORATIONTodd Myers, Portfolio Manager, AMERICOEric Swearingen, Senior Investment Analyst, AMERICO LIFEDonald D. Kluthe, President/Chief Opperating Officer, AMERIFIRST HOME IMPROVEMENT FINANCEScott Kurtz, Senior Vice President, ANDESITE CAPITAL MANAGEMENTAshish Negandhi, Managing Director, ANGEL OAKBerkin Kologlu, Portfolio Manager, ANGEL OAKJonathan Lieberman, Managing Director, ANGELO, GORDON & CO.Phong Huynh, Portfolio Manager, APERIOGretchen Bergstresser, Senior Portfolio Manager, APIDOS CAPITAL MANAGEMENTBret Leas, Senior Portfolio Manager, APOLLO MANAGEMENTDaniel Castaline, Structured Credit, APOLLO MANAGEMENTJoe Moroney, Leverage Source Senior Production Manager, APOLLO MANAGEMENTPriya Kothary, Investor Relations - Credit, APOLLO MANAGEMENTBill Harrigan, Investment Professional, AQUILINE CAPITAL PARTNERSMitchell Leidner, Managing Director, AQUILINE CAPITAL PARTNERS LLCSonya Lee, Principal, ARES CAPITAL MANAGEMENT

Charles Arduini, Senior Analyst, ARES MANAGEMENTIan Smith, Trader, ARES MANAGEMENTKeith Ashton, Portfolio Manager, ARES MANAGEMENTJeff Kramer, Portfolio Manager, ARES MANAGEMENT LLCVincent Salerno, Senior Analyst, ARES MANAGEMENT LLCTim Gillespie, Analyst, ARIGlenn Gandolfi, Analyst, ARMOUR RESIDENTIAL REIT INC.Mark Gruber, Head of Portfolio Management, ARMOUR RESIDENTIAL REIT INC.David Corkins, Managing Director, ARROWPOINT PARTNERSKaelyn Abrell, Analyst, ARROWPOINT PARTNERSSanjai Bhonsle, Portfolio Manager, ARROWPOINT PARTNERSMICHAEL LEVAR, Senior Director - Income Strategies, ASCENSION INVESTMENT MANAGEMENTEvan Wilkoff, Executive Vice President - Capital Markets, ASCENTIUM CAPITAL LLCTom Depping, Chief Executive Officer, ASCENTIUM CAPITAL LLCRussell Schaub, Partner, ASPEN CAPITALRob Flowers, Partner, ATALAYA CAPITAL MANAGEMENT LPJesse Mann, Assistant Treasurer, AUTOMOTIVE RENTAL INC.Kenneth Herr, Vice President, AUTOMOTIVE RENTALS INC.Brian Horwith, Treasurer, AUTOMOTIVE RESOURCES INC.Faris Saah, Managing Partner, AVALON CAPITAL MANAGEMENT LLCKen Song, Managing Partner, AVALON CAPITAL MANAGEMENT LLCAlan Koines, Senior Manager, AVIS BUDGET GROUP INC.David T. Calabria, Assistant Treasurer, AVIS BUDGET GROUP INC.Rochelle Tarlowe, Vice President & Treasurer, AVIS BUDGET GROUP INC.Adrienne Butler, Managing Director, BABSON CAPITAL MANAGEMENTArt McMahon, Managing Director, BABSON CAPITAL MANAGEMENTKathleen Kraez, Managing Director, BABSON CAPITAL MANAGEMENTMeredith Lynch, Director, BABSON CAPITAL MANAGEMENTRuss Morrison, Portfolio Manager, BABSON CAPITAL MANAGEMENTScott W. McCarthy, Managing Director, BANK OF AMERICAJeffrey Barnes, Director - TRS, BANK OF TOKYO MITSUBISHI / UNION BANKRishi Bansal, Executive Vice President, BANKUNITEDDeepesh Jain, Barclays Treasury, BARCLAYS

A WHO’S WHO OF INVESTORS AND ISSUERS REGISTERED TO ATTEND ABS VEGAS 2014


Stewart Lee, Trader, BARCLAYSTaoheed Agbabiaka, Risk Manager, BAYERN LBAmit Kenig, Vice President, BAYVIEW ASSET MANAGEMENTLaura L. Mischel, Managing Director, BAYVIEW ASSET MANAGEMENTMichael Sorenson, Senior Vice President, BAYVIEW ASSET MANAGEMENTStuart I. Waldman, Managing Director, BAYVIEW ASSET MANAGEMENTWenjia Zheng, Senior Research Analyst, BAYVIEW ASSET MANAGEMENTDaniel Anderson, Portfolio Manager, BENEFICIAL FINANCIAL GROUPAdam Lysenko, Analyst, BENEFICIAL LIFE INSURANCEColton Burr, Analyst, BENEFICIAL LIFE INSURANCEChristine Yom, Structured Products Manager, BLACK DIAMONDJean Fleischhacker, Senior Managing Director, BLACK DIAMOND CAPITAL MANAGEMENT LLCLanny Epperson, Senior Managing Director, BLACK DIAMOND CAPITAL MANAGEMENT LLCDamien Donoghue, Managing Director, BLACKROCKDanielle Nefouse, Director, BLACKROCKJae Kim, Director, BLACKROCKPeter Schenck, Director, BLACKROCKRandy Appleyard, Director, BLACKROCKSharon Greenberg, Director, BLACKROCKJoshua Moskow, Analyst, BLUE MOUNTAINSteven Boyd, Portfolio Manager, BLUE MOUNTAINAllan Herz, Vice President, BLUEGREENPaul Humphrey, Vice President, BLUEGREENAimee Almeleh, Portfolio Specialist, BLUEMOUNTAIN CAPITAL MANAGEMENTMarion H. Mathes, Chief Executive Officer, BMG MONEY INC.Allan Roopan, Head of U.S. Credit Structuring & Origination, BNP PARIBAS INVESTMENT PARTNERSVanessa Ritter, Head of Global Loans, BNP PARIBAS INVESTMENT PARTNERSCharles Felix, Managing Director, BNY MELLONCorwin Leung, Vice President, BNY MELLONPaolo Josca, Managing Director, BNY/MELLONFrank Gianatasio, Director, BOFA GLOBAL CAPITAL MANAGEMENTQi Guan, Research Analyst, BOFA GLOBAL CAPITAL MANAGEMENTMark A. Parsa, Principal, BROOKLYN PARK ASSET MANAGEMENT

Richard Wisniewski, Partner, BROOKLYN PARK ASSET MANAGEMENT LLCBart Stankiewicz, Principal, BROOKLYN PARK ASSET MANAGEMENT LLCMark Parsa, Principal, BROOKLYN PARK ASSET MANAGEMENT LLCWalter Deeter, Managing Director, BURDETTE ASSET MANAGEMENTCindy Serrano, Director, CABELA’SKevin J. Werts, Chief Financial Officer, CABELA’SSean Baker, Chief Executive Officer, CABELA’STanner Eubank, CABELA’SLee Whatcott, Director of Capital Markets, CALIFORNIA REPUBLIC BANKJudy Sun, Senior Credit Analyst and Trader, CANDLEWOOD INVESTMENT GROUPLeland Abrams, Portfolio Manager, CANDLEWOOD INVESTMENT GROUPJeffrey E. Davis, Managing Director, CANYON CAPITAL REALTY ADVISORSChristy Freer, Senior Manager, Senior Counsel, CAPITAL ONEDaniel Rosen, Managing Vice President, Treas Funding & Analytics, CAPITAL ONEDavid Kucera, Managing Director, CAPITAL ONEDimiter Christof, Director, Investment Portfolio, CAPITAL ONEElina Khaykin, Principal Analyst, Fixed Income Credit, CAPITAL ONEEric Bauder, Issuer, CAPITAL ONEFranco Harris, Director, Capital Markets, CAPITAL ONEJeff A. Norris, Senior Vice President, CAPITAL ONEJohn Walsh, Senior Director, CAPITAL ONEKevin Gibbons, CAPITAL ONEMatt Tallo, Commercial & Specialty Finance, CAPITAL ONEMichael Szwajkowski, CAPITAL ONEMike Sznajder, Managing Director, CAPITAL ONESimon Fairclough, Senior Director, CAPITAL ONEVivian Lee, Principal Analyst, CAPITAL ONELisa Lersner, Chief Financial Officer, CAPITALSPRING LLCJustin Plouffe, Principal, CARLYLELinda Pace, Managing Director, CARLYLETroy Gibbens, Vice President, CARLYLEJon Daniels, Vice President & Chief Commercial Officer, CARMAX AUTO FINANCE

Mike Callahan, Chief Financial Officer, CARMAX AUTO FINANCEGreg Dostich, Corporate Finance Manager, CARMAX AUTO SUPERSTORESAndrea Mandell, Executive Vice President, Tax Director, CARRINGTON HOLDING COMPANY LLCAndrea Mandell, Director of Corporate Tax, CARRINGTON HOLDING COMPANY LLCAndrew Taffet, Portfolio Manager, CARRINGTON HOLDING COMPANY LLCJONATHAN PEREZ, Senior Portfolio Manager, CARRINGTON HOLDING COMPANY LLCMAYUR MADKAIKAR, Senior Portfolio Manager, CARRINGTON HOLDING COMPANY LLCGreg Gable, Director, CARVAL INVESTORSHenry Soetanto, Director, CARVAL INVESTORSJeff Crawford, Director Asset Manager, CARVAL INVESTORSJohn Trapnell, Managing Partner, CASTLE PEAK CAPITAL ADVISORS LLCCynthia Shi, Vice President, Portfolio Management, CATALYST CORPORATE FEDERAL CREDIT UNIONJennifer Anderson, Director of Investment Credit Analysis, CATALYST CORPORATE FEDERAL CREDIT UNIONJaime Arouh, Senior Vice President, CEREBRUS CAPITAL MANAGEMENT LPBill Bartmann, Chief Executive Officer & President, CFS2Andy Chasen, Owner, CHASEN ENTERPRISESEdward Resendez, President, CHERRYWOOD COMMERCIAL MORTGAGE CORPORATIONLevoyd Robinson, Managing Principal, CHICAGO FUNDAMENTAL INVESTMENT PARTNERS LLCPeter Gruszka, Director, CHICAGO FUNDAMENTAL INVESTMENT PARTNERS LLCMilton Bonellos, Executive Director, CIBCMark Smith, CIFC ASSET MANAGEMENTPeter Gleysteen, Chief Executive Officer, CIFC ASSET MANAGEMENTSteve Vaccaro, Chief Investment Officer, CIFC ASSET MANAGEMENTOliver Wriedt, Head of Capital Markets and Distribution, CIFC ASSET MANAGEMENT LLCGregory Skjonsby, Chief Executive Officer, CIG FINANCIAL LLCDavid Hoeller, Chief Financial Officer, CIG FINANCIAL LLCGary Vanderham, CITJonathan Yap, Issuer, CIT GROUP INCMike McConnell, Director, CIT GROUP INCUsama F. Ashraf, Senior Vice President, CIT GROUP INC.Michelle Durgy, Chief Investment Officer, CITY AND COUNTY OF SAN FRANCISCO



Paul Wesoly, Senior Analyst, CLINTON GROUPMARTIN McKINNEY, Manager, CLYDESDALELee J. Kelly, Head of Structured Funding, CLYESDALE BANKEric Mathison, General Counsel, CNHGregory Glaser, Manager, Collections & Loss Mitigation, CNH CAPITALJulie P. Schlueter, Manager, Capital Markets, CNH CAPITAL CORPORATIONTom Beckmann, CNH CAPITAL CORPORATIONDavid Lee, Chief Executive Officer, COLFORD CAPITALJohn Falb, Chief Financial Officer, COLLEGE LOAN CORPORATIONPaul W. Wozniak, Chairman, COLLEGE LOAN CORPORATIONBryan Gordon, Vice President, COLONY AMERICAN HOMESJason Callan, Senior Portfolio Manager, Head of Structured Products,COLUMBIA MANAGEMENTRyan Osborn, Senior Analyst, Head of Structured Products Research, COLUMBIA MANAGEMENTShawn Pierce, Senior Analyst, Fixed Income, COLUMBIA MANAGEMENTYvonne Stevens, Senior Managing Director and Co-Head, Leveraged Debt Group, COLUMBIA MANAGEMENTJames Sims, Portfolio Manager / Vice President, COLUMBIA MANAGEMENT ADVISORS LLCTom Heuer, Portfolio Manager, COLUMBIA MANAGEMENT INVESTMENT ADVISERS LLC.Dan McDonough, President & Chief Executive Officer, COMMERCIAL CREDIT GROUP INCDavid Klein, Chief Executive Officer & Co-Founder, COMMONBOND.COMichael Taormina, Chief Financial Officer & Co-Founder, COMMONBOND.CODr. Bart Fisher, Director of Research, COMPOSITE BUILDING SYSTEMS INCRavi Pratap Singh, Vice President, Financial Analyst, COMPOSITE BUILDING SYSTEMS INC TISHOMINGOJoey H Johnson, National Bank Examiner, COMPTROLLER OF THE CURRENCYWilliam Liebler, Vice President, CONNING ASSET MANAGEMENTRobert Riedl, Chief Investment Officer, CONSUMER PORTFOLIO SERVICESShellie G McCain, President, COOPERATIVE ASSOCIATION OF TRACTOR DEALERS INC.Darcy Morrison, Senior Investment Credit Analyst, CORPORATE AMERICA CREDIT UNIONCharlie Plassenthal, Dayton Firefighters FCU / Chief Executive Officer, CORPORATE ONE FEDERAL CREDIT UNIONJennifer Morrison, Vice President, Senior Risk Manager, CORPORATE ONE FEDERAL CREDIT UNIONLee Butke, President & Chief Executive Officer, CORPORATE ONE FEDERAL CREDIT UNION

Tammy E. Cantrell, Senior Vice President, CORPORATE ONE FEDERAL CREDIT UNIONDarren Meyer, Portfolio Manager, COUNTRY FINANCIALKatherine Decker, Vice President & Treasurer, COX ENTERPRISESJane Fox, Associate, CREDIGYJason Williams, Managing Director, CREDIGYSteve Stewart, President, CREDIGYDoug W. Busk, Treasurer, CREDIT ACCEPTANCEJeff Soutar, Assistant Treasurer, CREDIT ACCEPTANCEAmir Vardi, Vice President, CREDIT SUISSECathy Cunningham, Director of Business Development, CREMACJoseph Cafiero, President, CREMACMatthew A. Miller, Managing Director, CRESCENT CAPITAL GROUP LPMeric Topbas, Senior Vice President, CRESCENT CAPITAL GROUP LPFrank Vaughan, Chief Financial Officer, CRONOSMichael Chan, Senior Director - Treasury & Capital Markets, CRONOSAlex Jackson, Managing Director, CUTWATERRocky Kurita, Senior Vice President, D.E. SHAW GROUPDetlef Haelker, Senior Manager, DAIMLER AGKenneth Casper, Senior Manager, DAIMLER FINANCIAL SERVICESTracy McLane, DAIMLER FINANCIAL SERVICESAlex Wei, Senior Vice President, DELAWARE INVESTMENTSRyan Weninger, DELLThomas Luttrell, DELLZain Kazim, DELLGreg Cooper, Managing Director, DENALI CAPITAL LLCAllison Salas, CLO Analyst, DEUTSCHE ASSET MANAGEMENTFrank Mahan, Chief Executive Officer, DEVELOPER FINANCE CORPORATIONJoseph Weingarten, Chief Financial Officer, DEVELOPER FINANCE CORPORATIONAlexandra Calma, Associate, Business Development & Strategy, DFG INVESTMENT ADVISERS INC.David Millison, Managing Partner, DFG INVESTMENT ADVISERS INC.Selma Cilka, Director, DFG INVESTMENT ADVISORSAlfredo Agra, DISCOVER FINANCIAL SERVICESKevin F Sweeney, Director, DISCOVER FINANCIAL SERVICES

Tod Gordon, Vice President Corporate Funding, DISCOVER FINANCIAL SERVICESBehzad Khosrowshahi, Chief Executive Officer, DRI CAPITALGary Margolis, Deputy General Counsel, DRI CAPITALMarna Chibuk, Director, DRI CAPITAL INC.Jennifer Press, Director, Complex Asset Solutions, DUFF & PHELPS LLCAlexander Ploch, Assistant Vice President, DZ BANK AGCedric Probst, Senior Vice President, DZ BANK AGChristian Haesslein, Senior Vice President, DZ BANK AGFranziska Hummel, Vice President, DZ BANK AGJayan Krishnan, Senior Vice President, DZ BANK AGLisa Caiazzo, Assistant Vice President, DZ BANK AGSven Osang, Managing Director, DZ BANK AGDan Spinner, Portfolio Manager, EAGLE POINT CREDIT MANAGEMENTDavid Levine, Associate, EAGLE POINT CREDIT MANAGEMENTDan Ko, Portfolio Manager, EAGLE POINT CREDIT MANAGEMENT LLCThomas Majewski, Managing Partner & Founder, EAGLE POINT CREDIT MANAGEMENT LLCJohn A. Brodbine, Assistant Vice President, EATON VANCE MANAGEMENTMatthew Buckley, Analyst, EATON VANCE MANAGEMENTThomas H. Luster, Vice President & Co-Director of Investment Grade Fixed Income, EATON VANCE MANAGEMENTJohn E Arnold Jr, President, EDSOUTHRon Gambill, Chairman, Chief Executive Officer, EDSOUTHGabe Poggi, Senior Analyst, EJF CAPITALMark Neely, Portfolio Analyst, EJF CAPITALEliza Crawford, Portfolio Analyst, EJF CAPITAL LLCNadja Fidelia, Managing Director, ELAND CAPITALDamian Harbutt, Managing Director, ELAND CAPITAL A DIVISION OF THE WILLIAMS CAPITAL GROUP, L.P.Daniel Cheung, Trader, ELLIOT MANAGEMENT CORPORATIONHenry Yu, Trader, ELLIOT MANAGEMENT CORPORATIONBenjamin Bowman, Head of Global Research and Reporting, EMPLOYEES RETIREMENT SYSTEM OF TEXASCraig Weinewuth, President & Chief Executive Officer, ENGS COMMERCIAL FINANCEScott Franklin, Director of Treasury and Finance, ENGS COMMERCIAL FINANCESteve Usselman, Vice President, ENTERPRISE



Tyler Cain, Assistant Treasurer, ENTERPRISELeighton A Shantz, Director of Fixed Income, ERS OF TEXASDavid D’Antonio, Managing Director, EVERBANKJohn Dale, Managing Director, EVERBANKJeff Hilzinger, Chief Operating Officer, EVERBANK COMMERCIAL FINANCEDaniel Parry, Executive Vice President and Chief Credit Officer, EXETER FINANCE CORPMeredith Dormire, Vice President Structured Finance, EXETER FINANCE CORPMark Floyd, Chief Executive Officer, EXETER FINANCE CORP.Steve Moses, Chief Financial Officer, EXETER FINANCE CORP.Laurel Davis, Vice President, FANNIE MAEDavid Wells, Associate, FDICGeorge Williamson, Manager, FDICShawn Khani, Senior Capital Markets Specialist, FEDERAL DEPOSIT INSURANCE CORP.George Alexander, Assistant Director, Capital Markets, FEDERAL DEPOSIT INSURANCE CORPORATIONJonathan Hartley, Vice President, FEDERAL HOME LOAN BANKSPhillip Millman, Principal Capital Markets Specialist, FEDERAL HOUSING FINANCE AGENCYElizabeth Caviness, Officer, FEDERAL RESERVE BANK OF NEW YORKPeter Genis, Bank Supervision Group - Market Risk, FEDERAL RESERVE BANK OF NEW YORKSteven Schoen, Officer, FEDERAL RESERVE BANK OF NEW YORKSunil Gangwani, Supervising Examiner, FEDERAL RESERVE BANK OF NYJames Thompson, Analyst, FEDERATED INVESTORSMaryEllen Tesla, Vice President, FEDERATED INVESTORS INC.David Catalane, Investment Analyst, FEDERATED INVESTORS INC.Mitchell Hochberg, Partner & General Counsel, FENWAY SUMMERAlex Razumny, Head of Alternative Investments, FIELDSTONE CAPITALAndrew Jones, Vice President, FIFTH THIRD BANKBrian Gardner, Vice President, FIFTH THIRD BANKKevin Gusweiler, Analyst, FIFTH THIRD BANKMike Mendenhall, Vice President, FIFTH THIRD BANKNathan Steuber, Treasury/Structured Finance, FIFTH THIRD BANKPeter Kidd, Senior Vice President - Consumer Auto Business, FIFTHTHIRD BANKSara Grohl, Director, FINRAAdam Schwartz, Director, FIR TREE PARTNERS

Glen Stein, Chief Financial Officer, FIRST CAPITALBennie H. Duck, Executive Vice President & Chief Financial Officer, FIRST INVESTORS FINANCIAL SERVICESScott Fath, Director of Finance,

FIRST INVESTORS FINANCIAL SERVICES, INC.Michial Thompson, Managing Director, Risk Analytics, FIRST MARBLEHEAD CORPORATIONTrey Greene, Vice President, FIRST MARBLEHEAD CORPORATIONKarlyn Knieriem, Vice President, FIRST NATIONAL OF NEBRASKATim Hart, Senior Vice President and Treasurer, FIRST NATIONAL OF NEBRASKAAbhijeet Patwardhan, Vice President, FIRST PACIFICJulian Mann, Vice President, FIRST PACIFICJane Song, Portfolio Manager, FISCHER FRANCIS TREES & WATTSMike Ritter, Chief Executive Officer, FLAGSHIP CREDIT ACCEPTANCEGene Henneberry, Chief Executive Officer, FLAGSHIP RAIL SERVICESMichael McCarthy, Vice President, Portfolio Management, FLAGSHIP RAIL SERVICESDave Dickenson, Manager, Securitization, FORD MOTOR COMPANYJohn Lebo, FORD MOTOR COMPANYKate Noser, Securitization Funding Analyst, FORD MOTOR COMPANYMarion Harris, Assistant Treasurer, FORD MOTOR COMPANYRob Mossel, Senior Counsel, FORD MOTOR COMPANYSam Siegel, N.A. Securitization Manager, FORD MOTOR COMPANYSusan J. Thomas, Associate General Counsel, FORD MOTOR COMPANYJeff Pincock, FORD MOTOR CREDITJoanna Totsky, Senior Counsel, FORD MOTOR CREDIT COMPANYSam Smith, Director of Long-term Funding and Securitization, FORD MOTOR CREDIT COMPANYBrent Miller, Senior Portfolio Manager, FORT WASHINGTON INVESTMENT ADVISORSScott D. Weston, Portfolio Manager, FORT WASHINGTON INVESTMENT ADVISORSMario Rivera, Managing Director, FORTRESS INVESTMENT GROUPSanjeev Khanna, Managing Director, FORTRESS INVESTMENT GROUPDavid Hinkelman, Managing Director, FORTRESS INVESTMENT GROUP LLCMorgan McClure, Investor, FORTRESS INVESTMENT GROUP/DRAWBRIDGE SPECIAL OPPORTUNITIES FUNDCory Goodfellow, Chief Financial Officer, FOURSIGHT CAPITAL LLCMark Miller, President, FOURSIGHT CAPITAL LLCGezelle Osea, Product Development Director, FREDDIE MAC

Marci Brager, Assistant General Counsel, FREDDIE MACSally W Baker, Structured Finance Director, FREDDIE MACTimothy Kviz, Vice President - Accounting Policy, FREDDIE MACAndrew Lee, Director, GE CAPITALBonnie Seideman, Managing Director, GE CAPITALDeborah Dougherty, Senior Vice President, GE CAPITALPamela Westmoreland, Senior Analyst, GE CAPITALRon R. Coty, Managing Director, GE CAPITALSteve A. Poulin, Managing Director, GE CAPITALTom Davidson, Senior Managing Director, GE CAPITALLisa Capodici, Manager, GE CAPITAL MARKETSDavid Kaplan, Senior Vice President, GEORGE K. BAUM & CO.Brandon Edgarton, GMChris A. Choate, Chief Financial Officer, GM FINANCIALDan Berce, Chief Executive Officer, GM FINANCIALJeff Fish, Assistant Vice President, GM FINANCIALRafael Amoros, GM FINANCIALRobert Pigott, Manager, GM FINANCIALSheli Fitzgerald, Senior Vice President Corporate Finance, GM FINANCIALSusan B. Sheffield, Executive Vice President - Corporate Finance, GM FINANCIALTrey Brown, GM FINANCIALKen Ruggiero, President, Chief Executive Officer, GOAL STRUCTURED SOLUTIONSRyan Gray, Chief Financial Officer & Senior Vice President Trust Administration, GOAL STRUCTURED SOLUTIONSFrederick Haddad, Partner and Senior Portfolio Manager, GOLDENTREEElena Miteva, Treasurer, GOLDENTREE ASSET MANAGEMENTEric Zhai, Portfolio Manager, GOLDENTREE ASSET MANAGEMENTVanitha Milberg, Director, GOLDENTREE ASSET MANAGEMENTDeeb Salem, Managing Director, GOLDMAN SACHS David King, Director, GOLDMAN SACHS ASSET MGMTAlan George, Vice President - Structured Finance, GOLUB CAPITALCraig Benton, Head of Structured Products, GOLUB CAPITALMichael Loehrke, Co-Head and Portfolio Manager, GOLUB CAPITAL



Tony Piperno, Trader, GOODHILL PARTNERSJackson Nurmi, Analyst, GOODHILLKyle Hudson, Trader, GOODHILLOscar Marquez, Senior Vice President Acquisitions, GRANITE LOAN SOLUTIONSAllan H. Berliant, Portfolio Manager, GRANTHAM MAYO VAN OTTERLOOBill O’Connell, ABS Analyst, GRANTHAM MAYO VAN OTTERLOODmitry Kiselyov, ABS Analyst, GRANTHAM MAYO VAN OTTERLOOMadelyn Tucker, Senior Trader ABS, GRANTHAM MAYO VAN OTTERLOOThomas F. Cooper, Portfolio Manager, GRANTHAM, MAYO, VAN OTTERLOO & CO. LLCDarren Sholes, Treasury Analyst, GREATAMERICA FINANCIAL SERVICES CORPJoe Terfler, Chief Financial Officer/Executive Vice President, GREATAMERICA FINANCIAL SERVICES CORPJoe Andries, Vice President, GREATAMERICA FINANCIAL SERVICES CORPMike Herzberger, Treasurer, GREATAMERICA FINANCIAL SERVICES CORPZach Paulson, Treasury Analyst, GREATAMERICA FINANCIAL SERVICES CORPMatt Mueller, Director, Operations, GREATAMERICA PORTFOLIO SERVICESBob Miller, Partner, GREYWOLF CAPITALBrett Bush, Partner, GREYWOLF CAPITALJenna Boyle, Director, GREYWOLF CAPITALJoe Marconi, Portfolio Manager, GREYWOLF CAPITALSergey Pekarsky, Vice President, GREYWOLF CAPITALSteve Abrams, Vice President, GREYWOLF CAPITALTimothy Morris, Marketing Director, GREYWOLF CAPITALDavid Kim, Vice President, GSAMJane Lee, Managing Director, GSO/BLACKSTONE DEBT FUNDS MANAGEMENT LLCRobert Zable, Managing Director, GSO/BLACKSTONE DEBT FUNDS MANAGEMENT LLCBrendan Beer, ABS Trader, GUGGENHEIM PARTNERS ASSET MANAGEMENTMichelle Liu, Vice President, GUGGENHEIM PARTNERS LLCMichael Rosner, Principal, HALCYON ASSET MANAGEMENT LLCBrian Yorke, Managing Principal, HALCYON LOAN MANAGEMENT LLCRehan Virani, Managing Principal, HALCYON LOAN MANAGEMENT LLCRoss Smead, Managing Principal and Portfolio Manager, HALCYON LOAN MANAGEMENT LLCDarrell Thomas, Treasurer, HARLEY-DAVIDSON FINANCIAL SERVICESJulia Landes, Director of Securitization, HARLEY-DAVIDSON FINANCIAL SERVICES

Andrew Downer, CLO Analyst, HARTFORD INVESTMENT MANAGEMENT COMPANYGlenn Clarke, Portfolio Manager, HAYFIN CAPITAL MANAGEMENT LLPOliver Faltin-Traeger, Trader, HBKKim Schinnerer, Managing Partner, HELIOS 365 FUNDRoss Severan von Burg, HELIOS 365 FUNDPatrick Kennedy, Manager, HERTZ CORP.Ethan Underwood, Managing Director, HIG WHITEHORSEJay Carvell, Managing Director, HIG WHITEHORSEEdward Dale, Senior Vice President, HIGHBRIDGE PRINCIPAL STRATEGIESAlexey Dronov, Director, HIGHLAND CAPITAL MANAGEMENT L.P.Hunter Covitz, Director, Structured Products, HIGHLAND CAPITAL MANAGEMENT L.P.Josh Terry, Managing Director, HIGHLAND CAPITAL MANAGEMENT L.P.Philip Braner, Managing Director, HIGLAND CAPITAL MANAGEMENTJohn Krementowski, Senior Analyst, HIMCOJim Lauter, Senior Vice President and Chief Financial Officer, HOME LOAN SERVICING SOLUTIONSJohn McNeill, Director - Finance, HOME LOAN SERVICING SOLUTIONS Rich Delgado, Senior Vice President and Treasurer, HOME LOAN SERVICING SOLUTIONSVictor Kolvites, Portfolio Manager- Fixed Income, HONEYWELL CAPITAL MANAGEMENTRebecca Stafford, Portfolio Manager, Whole Loans, HOUSING OPPORTUNITY PARTNERS LLCAndrew J. Jackson, Head of Trading and Portfolio Management ABS,HSBCGreg McGuffin, Managing Director, HUDSON ADVISORSBehzad Taufiq, Trading, HUDSON ADVISORS - LONE STAR FUNDSDavid Wu, Portfolio Manager, HUDSON COVEFred W. Wang, Portfolio Manager, HUDSON COVE CAPITAL MANAGEMENT LLCBenjamin Hellweg, Head of Acquisitions, HYPERION HOMESJim Fox, Chief Financial Officer, HYPERION HOMESCharley Yoon, Treasury- Associte Director, Team Leader, HYUNDAI CAPITAL AMERICAEric Senay, Vice President, Treasury Department Head, HYUNDAI CAPITAL AMERICAFrank Boroch, HYUNDAI CAPITAL AMERICAJay Banerjee, Manager, Treasury, HYUNDAI CAPITAL AMERICAWeni Gieseking, Senior Counsel, HYUNDAI CAPITAL AMERICAAngela Kay, Portfolio Manager & Director of Product Management, ICE CANYON LLCLaya Khadjavi, Senior Advisor, ICE CANYON LLC

Rick Kahn, CLO Analyst, INDEPENDENT CONSULTANTTim McCrady, Portfolio Manager, INGAmbuj Chaudhary, CLO Analyst, ING INVESTMENT MANAGEMENTDaniel Norman, Senior Vice President, ING INVESTMENT MANAGEMENTDavid Goodson, Portfolio Manager, ING INVESTMENT MANAGEMENTJonathan Abshire, Portfolio Manager, ING INVESTMENT MANAGEMENTKristopher Trocki, Vice President, Portfolio Manager, ING INVESTMENT MANAGEMENTMohamed Basma, Senior Vice President, Portfolio Manager, ING INVESTMENT MANAGEMENTSeth Katzenstein, Managing Director, INTERMEDIATE CAPITAL GROUPGlenn J. Bowling, Senior Analyst - Structured Securities, INVESCOLisa J. Reed, Senior Portfolio Manager, INVESCOJoe Rotondo, Portfolio Manager, INVESCO ADVISORSNick Gould, Chairman and CEO, INVITATION HOMESKevin Braddish, Managing Director, IVY HILL ASSET MANAGEMENTRyan Cascade, Managing Director, IVY HILL ASSET MANAGEMENTJohn Kerschner, Global Head of Securitized Products, JANUS CAPITALJason Brooks, Global Analyst, JANUS CAPITAL GROUPStefano Sola, Executive Vice President & Chief Investment Officer, JGWPT HOLDINGS LLCDavid Miller, Chief Executive Officer, JGWPT HOLDINGS LLCLarry Grant, JOHN DEEREShelly Haas, JOHN DEEREEmily Glenn, Associate, JOHNSON PREFERRED INVESTORSBrent Barton, Managing Director, Treasurer, JP MORGANAdam Brinton, Senior Portfolio Manager, JP MORGANHenry Song, Portfolio Manager, JPMORGAN ASSET MANAGEMENTScott Thomas, Executive Director, JPMORGAN INVESTMENT MANAGEMENT INC.Thomas Morris, Vice President - Structuring, KEY EQUIPMENT FINANCE INC.John Patrick McElwee, Managing Director- Capital Market / Sales, KILDARE CAPITALVijay Venkatachalam, Corporate Finance & Capital Markets, KILOWATT FINANCIALJoyce DeLucca, Managing Principal, KINGSLAND CAPITAL MANAGEMENT LLCMichael Wax, Associate, KKRZachary Jarvis, Principal, KKR ASSET MANAGEMENT LLCMisha Renda, Portfolio Manager, KLS DIVERSIFIED ASSET MGMT.



Tim Van Kirk, Senior Managing Director, KRAMER VAN KIRK CREDIT STRATEGIES LLCTom Kramer, Senior Managing Director, KRAMER VAN KIRK CREDIT STRATEGIES LLCJackie Polak, Portfolio Manager, LBBWCrit DeMent, Chairman/Chief Executive Officer, LEAFMatthew Goldenberg, Senior Vice President & Treasurer, LEAF COMMERCIAL CAPITAL INC.Miles Herman, President, LEAF COMMERCIAL CAPITAL INC.Robert K. Moskovitz, Chief Financial Officer, LEAF COMMERCIAL CAPITAL INC.Joe Tomczak, ABS Trader, LEGAL & GENERALDave Nirtaut, Head of Fixed Income, LEGAL & GENERAL INVESTMENT MANAGEMENTVictor C. Saratella, Investment Officer, LIBERTY MUTUAL GROUPEugene Xu, Co-Founder, LIBREMAX CAPITAL LLCVivek Nayar, Trader, LIBREMAX CAPITAL LLCThierry Ho, Managing Director, LIGHTYEAR CAPITALEmma Jones, Managing Director, LIQUID CONSULTING LTD.Gaurav Suri, Senior Portfolio Manager, LIVERMOREMarc Boatwright, Portfolio Manager, LIVERMORE INVESTMENTSGavin Parker, Head of ABS Issuance, LLOYDS BANKAlex Wall, Associate Director ABS Issuance, LLOYDS BANKING GROUPIan Stewart, Head of Securitisation & Mortgage Funding, LLOYDS BANKING GROUPJohn Lochner, Corporate Strategy, LOCUS ENERGYJohn E Palphreyman, Vice President, LOGAN CIRCLE PARTNERSAlessandro Pagani, Portfolio Manager, LOOMIS SAYLESGary Mitchell, LOOMIS SAYLESFelix Moy, Trader, LOOMIS SAYLES & CO LPDoug Farina, Director of Securitized and Rates Trading, LOOMIS, SAYLES & COMPANYMonica Mehra, CMBS/ABS Trading, Vice President, LOOMIS, SAYLES & COMPANYStephen P. Ceurvorst, Managing Partner, LORD CAPITAL LLCW Bradford Armstrong, Principal, LOVELL MINNICK PARTNERSElliot Ganz, General Counsel and Executive Vice President, LSTADavid Carlson, Managing Partner, LUCID MANAGEMENT AND ADVISORY LLCDavid Meneret, Senior Managing Director, MACQUARIEKARIM MOOLANI, Portfolio Manager, MACQUARIE CAPITALJosh Niedner, Managing Director, MADISON CAPITAL

Justin Bentley, Vice President, MADISON CAPITAL FUNDINGKurt Palmer, Portfolio Manager, MAGNETAR CAPITALBruce Pflaum, Associate, MASON STREET ADVISORS LLCLauren Shea, Vice President of Operations, MCM CAPITAL PARTNERSChristopher Ricciardi, Principal, MEAD PARK MANAGEMENTDavid Moffitt, Principal, MEAD PARK MANAGEMENTKevin Connell, ABS Manager, MERCEDES-BENZ FINANCIAL SERVICES USA LLCDerek Moran, Vice President, MERGANSER CAPITAL MANAGEMENTPeter S. Kaplan, Senior Vice President, Portfolio Manager, MERGANSER CAPITAL MANAGEMENTSunil Yadav, Senior Vice President /Portfolio Manager, MFA FINANCIAL INCJeffrey K. Zuckerman, Vice President, MIAC ANALYTICSDhiren Jhaveri, MIDLAND NATIONAL LIFE INSURANCE COMPANY Glen Greeley, Managing Director, MILLENNIUM CAPITALDennis Kelly, Director, MITSUBISHI MOTORS CREDIT OF AMERICALucy Hernandez, Treasury Manager, MITSUBISHI MOTORS CREDIT OF AMERICAVijay Patil, Director, Credit Risk & Information Mngmt, MITSUBISHI MOTORS CREDIT OF AMERICAJeffrey Young, President & Chief Executive Officer, MITSUBISHI MOTORS CREDIT OF AMERICA INC.Brian Colgan, Chief Investment Officer, MJX ASSET MANAGEMENTDavid Harrington, Managing Director, MJX ASSET MANAGEMENTNilam Patel, Portfolio Manager, MKP CAPITAL MANAGEMENT LLC/USAPhilip Ha, Portfolio Manager, MKP CAPITAL MANAGMENTTheodore Koenig, President & Chief Executive Officer, MONROE CAPITAL LLCPeter Nagykery, Managing Director, MORNINGSIDE GROUPMaurice Salter, Chief Executive Officer, MOTOLEASE LLCJeff Drott, Managing Director, MOUNTAINVIEW CAPITAL GROUP LLCChris Kennedy, Managing Director, MOUNTAINVIEW IPSSean Galaise, Director, NATIONAL ASSET DIRECT/ISERVEMahesh Assomull, Director, NATIONAL AUSTRALIA BANKJim Kaplan, Portfolio Manager, NATIONAL INVESTMENT SERVICESDiane Moormann, Vice President, Master Servicing, NATIONSTAR MORTGAGEEllen Coleman, Treasurer, NATIONSTAR MORTGAGEMichele Olds, Senior Vice President, Master Servicing, NATIONSTAR MORTGAGEPedro Alvarez, Senior Vice President - Structured Finance, NATIONSTAR MORTGAGE

Jonathan Boswell, Senior Investment Professional, NATIONWIDESabina Curovac, Investment Analyst, NATIONWIDESARAH HILL, Head of Investor Relations, NATIONWIDEDavid Wallis, Head of Funding, NATIONWIDE BUILDING SOCIETYRob Collins, Head of Funding, NATIONWIDE BUILDING SOCIETYUday Menkurka, Investment Profesional, NATIONWIDE INSURANCEChad Johnson, Managing Director, NATIXISDavid Bondy, Managing Director, NATIXISChristopher Lauvergeon, Head of Conduits, Europe, NATIXIS SAEmmanuel Lefort, Head of GSCS Europe, NATIXIS SAJohn Haugh, Manager, Treasury Operations, NAVISTAR FINANCIAL CORPORATIONMary Ellen Kummer, Vice President and Assistant Treasurer, NAVISTAR FINANCIAL CORPORATIONMichael Wuss, Manager, Funding & Planning, NAVISTAR FINANCIAL CORPORATIONMark Hanslin, Senior Portfolio Manager (CLOs and Loan Investment Strategies), NEBULA CAPITAL MANAGEMENTAndrew Lempka, NELNETMatt Brinkman, Director, NELNET INC.Thomas G. McCurley, Managing Director, NELNET INC.Joseph Kelly, Partner, NEW VIEW ADVISORSMichael McCully, Partner, NEW VIEW ADVISORSRobert Dial, Managing Director, NEW YORK ASSET LIFE MANAGEMENTJoe Mouridy, Director, NEW YORK LIFE INSURANCE COMPANYJohn Hendricks, Product Manager, NEW YORK LIFE INSURANCE COMPANYFrank Eder, President, NEWPORT COAST CAPITAL MGMTJohn K. Bray, Chief Financial Officer, NEWSTAR FINANCIAL INC.Doug Gwin, Senior Treasury Analyst - Capital Markets, NISSAN NORTH AMERICA INCShishir Bhushan, Director/Treasurer, NISSAN NORTH AMERICA INCMike Robinson, Manager Capital Markets, NISSAN NORTH AMERICA INCSteve Wypiszynski, Structured Products Analsyst, NORTHWESTERN MUTUAL LIFEJason Serrano, Desk Head, OAK HILLScott Levy, Managing Director, OAKTREE CAPITAL MANAGEMENT L.P.Max H. Bronzwaer, Deputy Director & Treasurer, OBVION Rachelle Rijk, Head of Funding & Risk Management, OBVION



Andrew D. Gordon, Chief Executive Officer & Chief Investment Officer, OCTAGON CREDIT INVESTORSLauren Basmadjian, Portfolio Manager, OCTAGON CREDIT INVESTORSMichael Nechamkin, Senior Portfolio Manager, OCTAGON CREDIT INVESTORSSteven Grundleger, Senior Vice President, OCWEN FINANCIAL CORPORATIONEric Schneider, Portfolio Manager, OMEGA ADVISORS INCRobert Knutson, Chairman, OMNI ADVISORS LLCRobert Knutson, Chief Executive Officer, OMNI ADVISORS LLCHoward Katzenberg, Chief Financial Officer, ON DECK CAPITALZhengyuan Lu, Vice President & Head of Capital Markets, ONDECKStephen Wheeler, Chief Risk Officer, ONE MAIN FINANCIALDale Vander Woude, Executive Vice President, Capital Markets, Strategy & M&A Executive, ONEROOF ENERGY INC.Philip Orenstein, Managing Director, Structuring and Analytics, ONEX CREDIT PARTNERSPaul Travers, Portfolio Manager, ONEX CREDIT PARTNERS LLCLisa Crotty, Vice President, Senior Analyst, OPPENHEIMERFUNDS INC.Ronald Klein, Chief Executive Officer, ORIGEN FINANCIALJason Ziegler, Portfolio Manager, ORIXBrett Klein, Portfolio Manager and Executive Managing Director, OZ MANAGEMENT LLCPeter Polanskyj, Collateral Manager, OZ MANAGEMENT LLCPhilip Wong, Associate Director, PACIFIC ALTERNATIVE ASSET MANAGEMENT COMPANYPeter S. Fiek, Managing Director, PACIFIC LIFE INSURANCE CO.Sameer Tikoo, Portfolio Manager/Trader, PARTNERRE ASSET MANAGEMENTHong Zhang, Senior Vice President, PAULSON & CO. INC.Michael Kagawa, Portfolio Strategist, PAYDEN & RYGEL INVESTMENT COUNSELJeff Schwartz, Structured Products Analyst, PAYDEN & RYGEL INVESTMENT MANAGEMENTVandy Fartaj, Chief Capital Markets Officer, PENNYMACTim Wang, Managing Director, PENNYMACVala Fartaj, Director, Mortgage Trading, PENNYMACChristina Hsieh, Director, PERELLA WEINBERGJordan Feil, Advisor, PERRY CAPITALRoger Wu, Advisor, PERRY CAPITALAaron Fink, Analyst, PERRY CAPITAL LLC

Brad J. Howatt, Senior Financial Officer, PHHHugo Arias, Vice President & Assistant Treasurer, PHHNav Swamy, Assistant Treasurer, PHHRichard Bradford, Assistant Treasurer, PHHLoren Ollenburger, Senior Vice President, PIMCOManish Keshive, Senior Managing Director, PINE GROVE ASSET MANAGEMENT Eric Taubenheim, Managing Director, PINE GROVE ASSET MANAGEMENT LLCDushyant Mehra, Trader, PINE RIVERJulie Bothamley, Managing Director, PINEBRIDGE INVESTMENTSSteven Oh, Managing Director, Head of Global Credit and Fixed Income, PINEBRIDGE INVESTMENTS, LOS ANGELESFrank Mueller, Director, Porsche Treasury Center, PORSCHE FINANCIAL SERVICESSean Egeran, Manager, PORSCHE FINANCIAL SERVICESTony Celia, Assistant Portfolio Manager, PPMElizabeth White, Managing Director, PPM AMERICAMartyn Orrock, Vice President, PPM AMERICANicole Lawrence, Vice President, PPM AMERICARobert F. Broseman, Managing Director, PPM AMERICASandy F. Szakach, Senior Managing Director, PPM AMERICA INC.Jonathan Butler, European Head of Leveraged Finance, PRAMERICA INVESTMENT MANAGEMENTAdrian Wu, Director, PREMIUM POINT INVESTMENTSHyung Peak, Portfolio Manager, PREMIUM POINT INVESTMENTSAaron Dalton, Senior Vice President Structured Finance & Business Development, PRESTIGE FINANCIALBryant Henrie, Chief Opperating Officer, PRESTIGE FINANCIALRich Hyde, Executive Vice President, PRESTIGE FINANCIALJohn Nagykery, Analyst, PRIME II MANAGEMENTUresh Sheth, Private Investor, PRIVATE INVESTORChok Lei, Vice President, PROGRESS RESIDENTIALRobert Newman, Executive Vice President, Finance, PROGRESS RESIDENTIALFernando Peralta, Chief Financial Officer, PROPEL FINANCIAL SERVICESColin McGinnis, Associate, PROSPECT CAPITALNishil Mehta, Vice President, PROSPECT CAPITALRobert Klein, Managing Director, PROSPECT CAPITAL

Drew Kelly, Portfolio Manager, PROTECTIVE LIFE CORPORATIONJeremiah Blackmon, Credit Risk Manager, PROTECTIVE LIFE CORPORATIONMike Paasche, Managing Director, PROVIDENCE EQUITYJamie Smith, Director, PROVIDENCE EQUITY CAPITAL MARKETS LLCRichard B. Rogers, Managing Director, PRUDENTIAL FINANCIALSara Bonesteel, Managing Director, Head of Alternative Investments,PRUDENTIAL FINANCIALBenjamin Greenfield, Structured Credit, PRUDENTIAL FIXED INCOMEBent Hoyer, Vice President, PRUDENTIAL FIXED INCOMEBrian Juliano, Principal, PRUDENTIAL FIXED INCOMEJoe Lemanowicz, Principal, U.S. Bank Loan Portfolio Manager, PRUDENTIAL FIXED INCOMEJohn Di Paolo, Principal, PRUDENTIAL FIXED INCOMEKyuho Han, PRUDENTIAL FIXED INCOMERobert Lawrence, Vice President & Chief Structured Finance Counsel, PRUDENTIAL FIXED INCOMERonni Neeman, Structured Product Research, PRUDENTIAL FIXED INCOMENobel Kamberi, Vice President, PRUDENTIAL INVESTMENT MANAGEMENT INC.Florence Chan, Senior Associate, PURNDENTIAL FIXED INCOMEStephen Costanzo, Executive Vice President, RAINIER LEASING SERVICES LLCJeff Jackson, Managing Director, RAMIREZ & COJames Burke, Managing Director, RAMIUS CAPITAL GROUP LLCGlenn McIntyre, Vice President, RANIERI PARTNERSThomas Costanzo, Vice President, RANIERI PARTNERSAnthony Beshara, Vice President, RANIERI PARTNERS MANAGEMENTDave Reedy, Senior Vice President, RANIERI PARTNERS MANAGEMENTBeau Russo, Director, RBC CAPITAL MARKETSDang Nguyen, Director - Alternative Assets Group, RBC CAPITAL MARKETSJonathan Heagle, Trader, Director, RBC CAPITAL MARKETSMatt Hicks, ABS Trader, RBC CAPITAL MARKETS LLCJustin C. LeBlanc, Director, RBC CAPITAL MARKETS LLCTom Fortin, Chief Executive Officer, REGIONAL MANAGEMENT CORP.Adam Emerson, Senior Trader and Portfolio Manger, REINSURANCE GROUP OF AMERICAJack Getzelman, Chief Executive Officer, RESIDENTIAL MORTGAGE SOLUTIONErik Wayda, Director, RIMROCK CAPITAL MANAGEMENT




Paul Van Lingen, Managing Director, RIMROCK CAPITAL MANAGEMENTRyan Rattet, Director, RIMROCK CAPITAL MANAGEMENTChris Chester, Managing Director, RIMROCK CAPITAL MGMT. LLCGaash Soffer, Managing Member, RION CAPITALZvi Gillon, Founder/ Portfolio Manager, RION CAPITALVassos Vassilou, Managing Principal, RIVERSIDE CREDIT INVESTMENTSJim Schneider, Partner, ROOSEVELT MANAGEMENT COMPANYBoris Kogut, Head of Securitization, Treasury, ROYAL BANK OF CANADAJude Shawera, Senior Manager, Asset Securitization, ROYAL BANK OF CANADARajneesh Sharma, Managing Director, Corporate Treasury, ROYAL BANK OF CANADADanny Frans, Chief Executive Officer, ROYAL PARK INVESTMENTSEric Watson, Vice President & Assoc. General Counsel, SALLIE MAEJoe Fisher, Managing Director, Investor Relations, SALLIE MAELeo Subler, Senior Vice President, SALLIE MAEMarcos Bronfman, Vice President, SALLIE MAEMark Rein, Vice President, SALLIE MAENicholas Schrider, Analyst, SALLIE MAEPoorvi Parkhe, Contractor, SALLIE MAERobert Lychak, Director, SALLIE MAESteve O’Connell, Senior Vice President, SALLIE MAESteven McGarry, Senior Vice President, Investor Relations, SALLIE MAEWeidong Shi, SALLIE MAEWendy Zorick, SALLIE MAEJennifer Zhen, Senior Vice President, SANKATY ADVISORSJohn Wright, Executive Vice President, SANKATY ADVISORSRam Woo, Senior Vice President, SANKATY ADVISORS Brian Seickel, Manager, Capital Markets, SANTANDERTom Ranger, Head of Structured Funding, SANTANDERJavier Garcia Martin, Head of Capital Markets, SANTANDER CONSUMER FINANCEJavier Anton, Chief Financial Officer SCF, S.A., SANTANDER CONSUMER FINANCE SPAINAndrew Kang, Director, Capital Markets, SANTANDER CONSUMER USADeborah Vestal, Manager, SANTANDER CONSUMER USAFelicia Matthews, Director, Risk Management, SANTANDER CONSUMER USA

Jason Kulas, Chief Financial Officer, SANTANDER CONSUMER USAMaria Perischetti, Manager, SANTANDER CONSUMER USAWill Perkins, Funding Manager, SANTANDER UKJeff Saye, President/Portfolio Manager, SAYE CAPITAL MANAGEMENTEric Richter, Securitized Analyst, SCHRODER INVESTMENT MANAGEMENT NAAthanasios Pispas, Senior Portfolio Analyst, SEBDavid Beaning, Special Counsel, SECEdwin Tsui, Portfolio Manager, SERENITAS CAPITALMark Hogard, Chief Financial Officer, SETTLEMENT CAPITAL CORPORATIONBob Magee, Chief Investment Officer, SHELLPOINT PARTNERSEric Kaplan, Managing Director, SHELLPOINT PARTNERSSaul Sanders, CO-Chief Executive Officer, SHELLPOINT PARTNERSRusty Kendall, Chief Financial Officer, SHERMAN FINANCIALTodd Kuhl, Managing Director, SHERMAN FINANCIAL GROUPRichard Kurth, Managing Director, SILVERMINE CAPITAL MANAGEMENTSteve Kalin, Managing Director, SILVERMINE CAPITAL MANAGEMENTJoe DeDominicis, Chief Executive Officer, SN SERVICING CORPORATIONChris Lalli, Vice President, Capital Markets, SOFIJeremy Solomon, Director, Investment Product, SOFIStephen Ketchum, Managing Partner, SOUND POINT CAPITAL MANAGEMENT, L.P.David Hogan, Risk Manager, SPRINGLEAF FINANCE CORP.David Schulz, SPRINGLEAF FINANCE CORP.John Anderson, Executive Vice President, SPRINGLEAF FINANCE CORP.William Reynolds, Assoicate General Counsel, SPRINGLEAF FINANCIALChad Stephens, Portfolio Manager, STABLERIVER CAPITAL MANAGEMENTJiansheng Wu, Fixed Income Analyst, STABLERIVER CAPITAL MANAGEMENTDaniel Hull, Investment Analyst, STATE FARM INSURANCESara Castellani, Senior Vice President, Head of Credit Research, STATE STREET BANK & TRUSTAntoine Roulot, Credit Analyst, STATE STREET CORPPia McCusker, Managing Director, STATE STREET GLOBAL ADVISORSMatt Stouffer, Managing Director, STEELE CREEK INVESTMENT MANAGEMENTByron Mims, Director, STERLING CAPITAL MANAGEMENT

Lukasz Cianciara, Managing Director, STERNE AGEEJim Richens, Managing Director, STERNE AGEE & LEACHErnie Calabrese, Managing Director, STIFEL, NICOLAUS & COMPANY, INC.Aleksey Leksanov, Portfolio Manager, STONE TOWER CAPITAL LLCEric Scholtz, Executive Vice President, STONEGATE MORTGAGE CORPORATIONJulianne Linder Ilstrup, Senior Vice President , STONEGATE MORTGAGE CORPORATIONDean Smith, Principal, STONEHENGE FINANCIAL PARTNERS LLCCatherine Long, Chief Financial Officer, STORE CAPITALAndrew Savysky, President, STRUCTURED ASSETMichael Asseff, Chief Executive Officer, STRUCTURED ASSETSuraj Bhatia, Senior Managing Director, SUMITOMO MITSUI TRUST BANK LTDKatsumi Kaneko, Vice President, SUMITOMO MITSUI TRUST BANK LIMITEDTommy Constantinou, Portfolio Manager, SUMITOMO TRUSTChris Murphy, Director of Structured Finance, SUNGEVITYTom Tansy, Chairman, SUNSPEC ALLIANCEHakan Beygo, Senior Vice President-Investment & Transaction Management, SUNTRUST MORTGAGEJason Meyer, Director, SUNTRUST ROBINSON HUMPREYCarlos F. Munoz, President, SWISS CAPITAL CORPKate Manion, Director, SYCNCORA GUARANTEE INC.James Cronin, Director, Surveillance, SYNCORA GUARANTEEJohn M. Mawe, Structured Credit Advisor, SYNCORA GUARANTEETiffany English, Director, SYNCORA GUARANTEEJames Lundy Jr., General Counsel, SYNCORA GUARANTEE INC. Craig Goldberg, Managing Director, SYNTERRA CAPITAL MANAGEMENTGwynn Lam, Senior Counsel, TD AUTO FINANCEEd Bortz, Vice President Investments, TD BANKMark Hughes, Portfolio Manager, TD BANKDavid Wishnow, Principal, TETRAGON FINANCIAL GROUPJeff Herlyn, Principal, TETRAGON FINANCIAL GROUPMike Rosenberg, Founder and Principal, TETRAGON FINANCIAL GROUPHilliard Terry, Chief Financial Officer, TEXTAINERStephen Mei, Treasurer, TEXTAINER



Stephen Mei , Treasurer, TEXTAINER GROUP HOLDINGS LIMITEDPaul Rerick, CFO, TEXTRON FINANCIAL CORPORATIONRoss Chotin, Associate Portfolio Manager, THE CHOTIN GROUP CORPORATIONKelly Kirk Shryoc, Senior Director, Capital Markets, THE HERTZ CORPORATIONMark Johnson, Vice President & Assistant Treasurer, THE HERTZ CORPORATIONScott Massengill, Global Vice President and Treasurer, THE HERTZ CORPORATIONBecky Regan, President of Capital Markets, THE HOUSING PARTNERSHIP NETWORKJack Macdowell, Chief Investment Officer, THE PALISADES GROUP, LLCStephen Kirch, Chief Executive Officer, THE PALISADES GROUP, LLCEric Rothman, President & Chief Investment Officer, THE ZEUS ORGANIZATION, LLCMegan Blomer, Analyst, THIRDPOINTAashh K. Parekh, Director, TIAA-CREFAndrew Lipton, Director, TIAA-CREFMichael F. Ferraro, Director-Public Market Securities, TIAA-CREFJeremy Joyce, Portfolio Manager, TOURMALET ADVISORSAdam Stam, Manager, ABS & Structured Finance, TOYOTA FINANCIAL SERVICESRichard Kuo, Senior Financial Analyst, TOYOTA FINANCIAL SERVICESJennifer Ishiguro, TOYOTA MOTOR CREDIT CORPOrasio Becerra, Director of Quantitative Analytics, TRESTLES CAPITAL MANAGEMENTGibran Mahmud, Chief Investment Officer, Senior Managing Director, TRIUMPH CAPITAL ADVISORSKurt Plumer, Managing Director, TRIUMPH CAPITAL ADVISORSJuha Valkama, Portfolio Manager, TSE CAPITAL MANAGEMENTDiane Audino, Securities Compliance Examiner, U.S. SECURITIES AND EXCHANGE COMMISSIONScott Davey, Regulator, U.S. SECURITIES AND EXCHANGE COMMISSIONMichael McManus, Senior Portfolio Manager, UBS GLOBAL ASSET MANAGEMENTSumeet Karnik, Director/Trader, UBS INVESTMENT BANKMat Thomason, Director, UNION BANK NAJim Vagim, President/Chief Executive Officer, UNITED AUTO CREDIT CORPORATIONRavi Gandhi, Chief Financial Officer, UNITED PANAM FINANCIAL CORPORATIONJeff Spencer, Assistant Vice President, Securitization/Capital Markets, USAARohan Myrie, Senior Capital Markets Analyst, USAAStephen O’Neill, Senior Fixed Income Securities Analyst, USAA

John Dangelo, Senior Portfolio Manager, VALCOUR CAPITAL MANAGEMENTBob Behal, Principal, Co-Head ABS/CMBS Investments, VANGUARD GROUPMark Seigel, Chief Financial Officer, VERITAS FINANCIAL PARTNERSBenjamin Young, Research Analyst, VIEW CAPITALAndrew Lakin, Investor Relations Director, VIRGIN MONEYDianne Wheeler, Head of Funding, VIRGIN MONEYJohn Rowan, Company Treasurer, VIRGIN MONEYLee Rochford, Chief Financial Officer, VIRGIN MONEYLesley-Anne Rawcliffe, Investor Relations Manager, VIRGIN MONEYGarett Miles, Manager – Residual Value/Asset Securitization, VOLKSWAGEN GROUP OF AMERICA INC.Martin Luedtke, Treasurer, VOLKSWAGEN GROUP OF AMERICA INC.William Horwath, Director- Funding, VOLKSWAGEN GROUP OF AMERICA INC.Brian Burket, Securitization Operations Manager, VOLVO FINANCIAL SERVICESEamon O’Shaughnessy, Vice President of Capital Markets, VOLVO FINANCIAL SERVICESJohn Hartwell, Associate, VOLVO FINANCIAL SERVICESPhillip Bales, Global Head of Capital Strategies, VOLVO FINANCIAL SERVICESTeresa Davidson, Vice-President, Legal & General Counsel, VOLVO FINANCIAL SERVICESBranden Kunkler, Consumer Collections Strategy Manager, VW CREDIT, INC.Brian Rebello, Managing Director, WATERFALL ASSET MANAGEMENTJack Ross, Portfolio Manager, WATERFALL ASSET MANAGEMENTPatrick Lo, Managing Director, WATERFALL ASSET MANAGEMENTPhilip Gitler, Director, WATERFALL ASSET MANAGEMENTAlex Kreydin, Associate (Portfolio Management), WATERFALL ASSET MANAGEMENT LLCDeena Raja, Portfolio Manager, WEAVER C BARKSDALE & ASSOCIATESCarisa Azzi, CFO, WELK RESORT GROUP INC.Jennifer Robinson, Treasurer, WELK RESORT GROUP INC.Jon Fredricks, Chief Executive Officer, WELK RESORT GROUP INC.Cory Perry, Fixed Income Quantitative Analyst, WELLINGTON MANAGEMENTMichael Sharkey, Senior Analyst, WELLS CAPITALMaulik Bhansali, Analyst, WELLS CAPITAL MANAGEMENTMira Park, Portfolio Manager, WELLS CAPITAL MANAGEMENTSteven Brown, Analyst, WELLS CAPITAL MANAGEMENTAudrey Chaing, Vice President, WELLS FARGO

John Ackerson, Investor, WELLS FARGOJonathan Turnbull, Portfolio Manager, WELLS FARGONathan Bond, Vice President Market Risk, WELLS FARGOOlivier Varon, Director, WELLS FARGORuben Avilez, Head of Strategic Auto Investments, WELLS FARGOTim O’Toole, Investment & Credit Analysts, WELLS FARGOTom Wolfe, Head of Consumer Credit Solutions, WELLS FARGOJim Whitesell, Director, WELLS FARGO BANK, NAMichael D. Hatley, President, WEST GATE HORIZONS ADVISORS LLCAnup Agarwal, Portfolio Manager, WESTERN ASSET MANAGEMENT (WAMCO)Chris Fishman, Senior Treasury Analyst, WHEELS INCAlissa Vriezelaar, Senior Analyst, WHEELS INC.Shlomo Crandus, Vice President of Finance, WHEELS INC.Ervin Pilku, Head of Trading, Fixed Income Portfolio & Advisory, WHITE WELD & CO / BRAVERPK Jain, Senior Managing Director, Fixed Income Portfolio & Advisory, WHITE WELD & CO / BRAVERBrad Forsyth, WILLIS LEASE FINANCE CORPJoseph P Howard, Treasurer, WILLIS LEASE FINANCE CORPJoseph Kohout Jr., Director, WIN WATER Jacob Day, Portfolio Manager, WOODMEN OF THE WORLD LIFE INSURANCE SOCIETYRamesh Kumar Ramiah, Principal Portfolio Manager, WORLD BANKBryan Romano, Treasury Manager, WORLD OMNI FINANCIAL CORPCharlie Einhorn, Director, Assistant Treasurer, WORLD OMNI FINANCIAL CORPEric Gebhard, Treasurer, WORLD OMNI FINANCIAL CORPPeter J. Sheptak, Vice President & General Counsel, WORLD OMNI FINANCIAL CORPCindy Fulton-Serrano, Vice President of Finance & Accounting, WORLD’S FOREMOST BANKKevin Werts, Chief Financial Officer, WORLDS FOREMOST BANKJeremy Coquinco, Vice President - Fixed Income, XL GROUP INVESTMENTS LLCBrian Hargrave, Senior Portfolio Manager, ZAIS GROUP LLCBrian Hansen, Portfolio Manager, ZAIS GROUP LLCRick Nicklas, Portfolio Manager, ZAIS GROUP LLCVincent Ingato, Senior Portfolio Manager, ZAIS GROUP LLC


SFIG AND IMN ARE PROUD TO HAVE THE SUPPORT OF THE FOLLOWING LEADING INDUSTRY FIRMS

PLATINUM SPONSORS

GOLD SPONSORS

SFIG AND IMN ARE PROUD TO HAVE THE SUPPORT OF THE FOLLOWING LEADING INDUSTRY FIRMS

SILVER SPONSORS

BRONZE SPONSORS

OPENING NIGHT COCKTAIL RECEPTION SPONSOR

For sponsorship and speaking opportunities, contact Christopher Keeping on [email protected] or 212-901-0533 l 13


P R O G R A M A G E N D A *The following program agenda has been developed by members of the industry via an inclusive, thoughtful

and interactive process to ensure all industry group view points and opinions are represented equally.

WORKSHOP A WORKSHOP B WORKSHOP C

1:30PM GSE Reform Mock Debate Part I• In part I, senior government and

private sector representatives will have the challenge of comparing the two versions of GSE Reform bills that have been proposed in Congress.

Securitization Complexities and Concerns for 2014

•Challenges impacting investors that remain unresolved

ABS 101• Typical ABS structures and asset classes• Relative value of ABS as an investment

and funding option•Historical performance • Future issuance outlook – regulatory and

other issues that may impact ABS

2:20PM Consumer Credit Metrics•What factors enter into a credit score?•How has the Ability to Pay analysis affected

the credit scoring model, if at all?•How has the recession and recent credit

performance affected default rates for any given score?

•How have scores migrated through the recession and more recent improvement in credit performance cycles?

• Are there segments of the population that have been performing better/worse than expected? If so, why?

•On a prospective basis, what segments of the credit population should investors be wary of?

ABCP – a 101• Typical ABCP structures•Why ABCP?• Past performance• Future prospects • Regulatory and other issues that may

impact ABCP


3:40PM GSE Reform Mock Debate Part IIPart II will build on the GSE Reform Mock Debate Part 1 by further discussing the following:•What will be necessary to bring back

the PLS market for RMBS in necessary volume after the GSEs are reformed?

•QM/QRM and Retention•Disclosure• Litigation; how must it be ended to let

the new market prosper?• Reps and warranties and other

documentation or dispute resolution issues

Mortgage Credit Fundamentals and Key Valuation Considerations

• Primary macroeconomic and mortgage risk components

• Impacts of home values and mortgage rates• Projecting short-term and long-term trends• Analytic tools and data sources• Loan-level factors and deal structures

Esoterics 101•What is an “esoteric asset”?•Challenges in securitizing esoteric assets•Challenges faced by most esoteric assets•Challenges unique to certain esoteric

assets•Completing the deal – how to navigate

around the challenges; successes and failures

• Future of esoteric assets•Which esoteric ABS classes are appealing

to investors, and why?•Which esoteric ABS classes are merely

trends and which are here to stay?

12:30PM Delegate Registration Opens

Commence Concurrent Workshops A, B, C

3:10PM Exhibit Hall Opens and Refreshment Break

Commence Concurrent Workshops A, B, C

Tuesday, January 21, 2014

*Program times and topics may be subject to change. For the latest agenda and speaker listing, please visit www.imn.org/absvegas


Tuesday, January 21, 2014 (continued)

P R O G R A M A G E N D A *

8:00AM Delegate Registration

Breakfast sponsored by

9:00AM Opening Remarks – SFIG/IMN

9:15AM Update on Mortgage/Housing Policy and Legislation• Status and outlook on GSE reform legislation• Status and outlook on FHA reform legislation•Update on MHA/HARP-related initiatives•Dodd/Frank/CFPB progress• Policies that support / hinder private-market development

10:15AM Keynote Speaker

11:00AM Refreshment Break

11:30AM U.S. Housing Update• Review and outlook on key housing indicators•Home ownership vs.. rental trends•Mortgage finance rates' influence on home values and purchases

12:30PM Delegate Luncheon



4:30PM GSE Reform Mock Debate Part II(Continued)

Covered Bonds: Overview of the Market and 101

•How the cover pool for a transaction is selected and its functions

• Review of performance triggers •Which countries and issuers saw the

greatest growth in covered bond deal volumes?

•Which countries are poised for more expansive issuance in coming years?

•Developments in the regulations • Review of the current players in dollar-

denominated covered bond issuance•Covered bond treatment under Basel

III (liquidity coverage ratio) and other regulatory frameworks

• As covered bond returns continue to improve, just how will investors react and improve demand for new issuance?

•Why yield-thirsty investors continue to grow their interest in this asset class, and a look ahead at 2014 projected capital market issuance

•What must change in the U.S. regulatory landscape to facilitate domestic covered bond deals?

• Prospects of the first U.S.-based covered bond transaction occurring in 6-, 9-, 12- months

CLO and Leveraged Loan Overview/CLOs -101

•General market trends for both CLOs and Leveraged Loans

•Where we are post-crisis (CLO 2.0) vs.. pre-crisis (CLO 1.0) from a standpoint of manager access to the market (number of managers that have issued 2.0 deals)

•Manager consolidation• Loan issuance volume•New-money issuance/LBO activity•Maturity wall issues

5:20PM Welcoming Reception Commences

Wednesday, January 22, 2014

Sponsored by:




3:45PM RMBS Researcher & Trader Roundtable: Liquidity, Spreads,

and Market Technicals • Review of recent market trends• Trade ideas and fundamental views• Supply/demand technicals• Investor patterns and valuations• Should 2013 deal structures concern

investors?•Does the regulatory environment

continue to challenge investor interest in RMBS?

Auto ABS (Prime and subprime)•What have we learned since the credit crisis

and recession of 2008/2009?•What are the recent market and regulatory

trends that make ABS funding more or less attractive as a funding source?

• Impact of recent regulatory trends• As the subprime share of the auto loan and

ABS markets has grown in recent years, are there any cross-over lessons from other asset classes (e.g. subprime RMBS) that can be useful in looking at this sector?

• Is the increase in subprime issuances as a share of the auto ABS market a positive trend overall or not? How do subprime issuers and investors see this trend?

•What are issuers doing differently in terms of disclosure? Are issuers meaningfully changing their practices in response to regulatory mandates, and do investors care? Focus on Rule 193 and Section 15G, and disclosure of exceptions from underwriting criteria. Are any investors actually looking at what issuers are disclosing?

• Sales of residual interests: what has been the trend since the adoption of the new FDIC rules?

•Will risk retention rules effectively mean that there is no more possibility of off-balance-sheet treatment?

Derivative Rules: An update on clearing, margin requirements and guidance on cross-border

application of swap rulesSwap Clearing Requirements• Idiosyncratic terms – to clear or not to

clear?•Operational concerns for DCOs•Will multiple trading platforms fragment

liquidity?Swap Margin Requirements•Can and how do securitization trusts

post collateral?• Rating Agency concerns• Role of Trustees • Alternatives – reserve accounts, capsCross Border application of swap rules: a definitive statement?• Impact of expanded definition of U.S.

person on funds•Understanding de minimis threshold

calculations• Logistics of substitute compliance

determinations • Impact of delayed EU derivative rules /

key aspects for harmonization

3:25PM Refreshment Break

TRACK A TRACK B TRACK C

1:45PM State of the Mortgage Servicing Landscape

• Review and analysis of latest/finalized CFPB servicer requirements

• Servicing transfer market and valuations

• Industry consolidation/divesting•Costs of doing business• Shifts in loss mitigation strategies

Overview of the Consumer Economy•Monetary policy views• Rate impact on: Mortgage apps, originations,

home sales, car prices, lease market, student loans

• FX market (rates impact on viability of Basis swap)

•What markets are recovering faster and how does this impact ABS? Are subprime and lease benefiting?

•Debt ceiling and Fed tapering

Regulatory Capital Update

2:35PM Necessities in Bringing Back Critical Mass Non-Agency RMBS Volume Post-GSE

Reform• Legislative hurdles/enablers• Standardization across data, reps and

warrants, structuring, and collateral administration

• Investor / Issuer wish lists• Private vs. public capital availability

Consumer ABS Trader & Researcher Roundtable: Finding Relative Value in

Consumer ABS•Can ABS spreads return to record-tight levels? • In what sectors do we see material

spread tightening? What sectors offer out performance?

•What are the market downside risks, and can they be hedged?

•How will legislation and regulation impact consumer ABS in 2014?

• ABS liquidity and the expected impact of tapering

• Breadth and depth of investor participation in the sector

•Outlook and effects of TRACE•Outlook for esoteric and subordinate spreads

and activity

Risk Retention Update•Overview of the proposed rule and

comment process• Significant issues addressed in comment

letters o PCCRA Light o QRM o CLOs o ABCP• Regulator reaction•Next steps

Commence Concurrent Tracks A, B, C

Wednesday, January 22, 2014 (continued)



8:45AM Delegate Registration and Breakfast

9:30AM The ABS/MBS Investor Roundtable•Outlook for interest rates and ABS spreads•With spreads tightening to pre-crisis levels and a shrinking investor base, who will buy these bonds at this level going forward?•What sector(s) still offer an upside?•Can new supply satiate investors’ appetite for yield?• Assessing the relative value of investing in whole mortgages vs. AAA RMBS: Solvency II, liquidity and yield considerations• View of the European Data Warehouse• Emerging ABS markets: assets of interest, and why?• Relative attractiveness of ABS vs. other IG sectors• Actively Managing the Structured Finance Portfolio o Factors impacting investors’ asset allocation strategy o How are investors generating sufficient yields in a challenging interest rate environment? o Compare and contrast investor strategies: the bank investor vs. the asset manager

10:30AM Keynote Speaker


11:45AM The Global Environment for Securitization: An International Regulatory Overview•Overview of the global policy response to perceived deficiencies in securitization: risk retention; loan-level data disclosure; credit

rating agency regulation; capital rules•Current and potential “frictions” in the regulatory response between the U.S., the EU and other jurisdictions: what is holding the

market back?• The global role and regulation of credit rating agencies• The issuer’s perspective on the global regulatory environment for securitization• Suggestions to global regulators for a constructive way forward

12:30PM Delegate Luncheon




1:30PM CRE Fundamentals: Where Are We?

Legal and Regulatory Issues facing Esoteric ABS

• Risk-retention, conflicts of interest, and the Volcker Rule

•Has the progression of regulatory reform, focused on more traditional asset-backed securities, actually created a more favorable playing field for esoteric ABS securities?

• Example asset and whether they currently do, or could, fall outside the scope of some or all of the more onerous new regulatory regimes (e.g. risk-retention, conflicts of interest, revised Reg AB)

•Will this lead to greater issuance and/or demand in the selected markets?

Leveraged Loan Market Fundamentals and Outlook

4:35PM U.S. Regulatory Update• Implications of new risk-based capital rules on ABS• Risk retention and its concerns•What are the likely results of the new liquidity coverage ratio?•What’s going on in accounting?• Breakout risk-based capital•How do the new formulas work: SFA, SSFA, etc.?•What are the implications of the proposed LCR?•What types of assets are favored by the new risk-based capital rules?•Comparison of EU and U.S. rules

5:35PM Day Two of ABS Vegas Concludes (No Reception)

Wednesday, January 22, 2014 (continued)

Thursday, January 23, 2014



3:30PM Credit Card ABS• Asset Performance: Is current

performance sustainable? o Charge-offs and delinquencies at

historical lows o MPR continue to rise to all-time

historical levels o Consumer confidence,

unemployment and fiscal cliff 2.0 – impact on performance and outstandings

• Issuance volume: o What’s the incentive? o $20 billion matured in 2013; $35

billion maturing in 2014 and 2015 o Liquidity impact to investors • Impact of increased regulation: cost

of compliance • Peer-to-peer lending: potential impact

on card pricing

Covered Bonds: Overview of Deal and Structure and Rationale for funding in

USD in the U.S. Market•Why public rather than Rule 144A or 3a-2?• Advantages of doing so vs. other executions• SEC review process, summary of Canadian CB

Legislation, and recent changes under CMHC (i.e. collateral eligibility)

•How potential developments (regulatory, etc.) might impact structures going forward (B-III, Solvency II, Reg AB II, etc)

CLO Legislation Update• General regulatory overview: o U.S. – CLO Regulations o FDIC Assessment o Risk Retention o Basel III o Volcker Rule o Others: TRACE, Rating Agency

Reform (Franken Amendment)• U.S. Loan market regulations• Leveraged lending guidance• FATCA• European regulatory update o Euro Risk Retention (CRD 122a) o Solvency II o AIFMD – European Hedge Fund

Regulations• Global: Basel III• Regulatory impact on buyer base,

managers, specific types of investors, and traders

4:20PM Equipment Leasing Sector Update

Global Trade and Commodity Finance: The Next Emerging Securitization

Asset Class?•Overview of activity in the past year and

anticipated trends for 2014: completed deals and drivers behind anticipated further activity

•How Basel III rules are impacting the sector and other regulatory considerations when structuring a transaction

•Commodity lending from a banker’s point of view: what you need to know

•Comparing commodity finance activity and trends across global regions (U.S., EU, Middle East, Asia Pacific, Africa, Latin America)

•Coping with volatile commodity prices and currencies

CMBS Distribution & Investing• Product: loan quality; overall metrics;

investor issues• Pricing: relative value of AAA; secondary

market liquidity; short AAA vs. long; relative value of AA through BBB

•CMBS syndicate process: transparency; roadshows; loan sellers; private bonds; pre-selling

• The CMBS sector - overall perception of CMBS



3:10PM Refreshment Break



2:20PM Private and Public SLABS Issuance Outlook

• State of the market o 2012 – 2013 Activity o FFELP Transactions o Refinancing Old Trusts o Refinancing Straight-A Funding o Secondary Market Acquisitions o Private Credit Transactions o Regulatory Update• Challenges facing the market o Diminishing FFELP Volume o Why is the private credit market

not larger given the need for this product?

o Legal and regulatory concerns• Future of SLABS o Where is the market headed? o What is the role of the private sector? o Will FFELP return and, if so, in what

form?

Solar ABS Panel: Overview and Standards Development

• Solar as a securitizable asset class / market update

• SAPC / SEFA – mission and general update• SEFA rating agency mock filing update

CLO Manager Roundtable

Thursday, January 23, 2014 (continued)


ROUNDTABLE A ROUNDTABLE B ROUNDTABLE C

9:15AM Non-Traditional Residential Mortgage Investments

•Description of alternative mortgage investments, including NPLs/RPRs, servicing advances, excess servicing, risk sharing and REO to Rental.

•Depth and breadth of market• Return metrics and valuation

methods•Outlook for issuance

A Residential Solar ABS Case Study: Analyzing Challenges and Solutions

• Rating Agency perspective• Legal / Developer / Tax-Equity• Investor / Markets / Investment Banking

CLO Debt Investor Perspectives• Sweet spot in the debt stack• Assessing if a manager is truly “debt

friendly”• Intra-class issues amongst debt tranches•Differences between CLO 1.0 and 2.0• Key risks of investing in CLO debt

8:30AM Delegate Breakfast

Commence Concurrent Roundtables A, B, C


5:10PM Terminal Value: A Comprehensive Discussion of Railcar and Container-Backed

Securitization•Deal Analysis – key risks • Linkage • Relative value across other ABS and/

or other fixed income sectors • Rating agency participation • Investor depth • Subordinate offerings (below single-A)

Securitizing Aircraft Portfolios• The overall landscape in aircraft securitization• Investors in the sector• The effect of new aircraft on the market• Repackagings • The lessors use of securitization• Parts / engines securitization; who is doing it

and why?• Emerging market structures

ABCP: A potential dinosaur or an Echidna?

• Legal perspective – the regulatory issues facing the ABCP market

• Banker perspective – changes to structures

• Issuer perspective – what do the changes mean for issuers – is ABCP still a viable product?

• Investor perspective – Money market funds & large exposure issues

6:00PMDay Three of ABS Vegas Concludes and

Delegate Networking Reception Commences in the Exhibit Hall



10:00AM Legal Framework for RMBS Lenders, Issuers, and Investors• Identification and assessment of

sources for legal risk• Bankruptcy and entity relationships• Review of economic impacts to

market participants•Challenges in obtaining recoveries on

defaulted mortgages

Esoteric of Esoterics•Other examples of esoteric ABS that are not

yet “mainstream”• Attributes necessary to make assets

appropriate for the securitization market• Pending transactions •Case study: specific types of esoteric ABS and

the business case for securitizing the particular asset

o Structural and legal issues to be resolved, and how the resulting structure responds to those issues

• Tobacco legal fees and tobacco escrow securitization

• Franchise royalty and whole business securitization

•Music/film copyright royalty securitization• Patent/trademark royalty securitization• Energy efficiency securitization

Subscription Credit Facilities and Fund Finance Strategies

• Analysis of the size of the market and trend forecasting

• Evaluation of the evolving legal structures used by funds and the corresponding impact on lender collateral packages

•Changes in investor constituencies and typical pools

•Challenges associated with LPA provisions in the middle market private equity context

• Regulatory and legal challenges impacting the market

• Forecasting of emerging issues and opportunities

Thursday, January 23, 2014 (continued)

Friday, January 24, 2014


12:30PM ABS Vegas Concludes

ROUNDTABLE A ROUNDTABLE B ROUNDTABLE C

11:00AM 2014 ABS Vegas RMBS Recap• Review of top takeaways from the

conference's mortgage panels• Recap of advisements and

recommendations• Results of conference participant

feedback• Best quotes heard•How well did we predict volume in

2013? What is the plan for 2014?•New deal structures or same old

ones?

Developments in the Securitization of Infrastructure Assets

•Overview of activity in the past year, and anticipated trends for 2014: transportation (highways, rail), cell towers, marine ports, airports and other classes

• Primary drivers and concerns for determining an overall financing plan for an infrastructure project; mixing bank debt and project bonds

•Which infrastructure projects are best suited to the use of capital markets funding? Key structural and legal elements of a successful project bond

•Case study of an interesting 2013 infrastructure project bond

•Combined project bond, PAB and TIFIA solutions

• Buy-side challenges, such as bond investor appetite for greenfield risk and managing control decisions

•Comparing infrastructure finance trends in North American to those in other regions (EU, Middle East, Asia Pacific, Africa, Latin America)

Improving Bondholder Communication

•Difficulties in bondholder communication and possible solutions

•What to expect in post-deal surveillance: trustee, rating agency and issuer responsibilities

• Role for other parties in post-deal surveillance

• Improving investor support• Restructuring and amendments – the

role of the trustee

11:45AM Pricing/Valuation Challenges •Cost of valuation services and data

analytics: Is it a barrier affecting small- and mid-sized investors?

• Performance of traditional valuation methodologies since the crisis

•Dynamics of provider / user relationships affected by market disruptions

•Opportunities and challenges presented by updated data dissemination services through TRACE

•What is needed to improve valuation techniques? Have there been any notable innovations?

•How can the timeliness of price fluctuation reporting be improved?

• Limited access to consistent information flow and the impact on execution

• Lack of consistency in data, and reassessing the reliability of underlying models

Insurance Linked / Structured Finance Settlements

• Introduction to structured finance settlements• Introduction to insurance-linked securities•Challenges in securitizing structured finance

settlements and ILS•Completing the deal – how to navigate around

the challenges; successes and failures• Future of structured settlements and ILS

Transparency in the ABS Market: Aligning Investor and Issuer

Interests• Finding the sweet spot to satisfy

investors - without alienating issuers• The European DataWarehouse: Is it

adaptable to the U.S.? •Does transparency in securitization

measure up against other sectors?• Issuer perspectives on the burden of

increased transparency and reporting demands

• Investor requirements for convenience and the importance of accurate pre- and post-deal reporting

• Investor concerns over ratings reliance and assessing creditworthiness of a deal




Commence Concurrent Roundtables A, B, C

Friday, January 24, 2014 (continued)

REGISTRATION INFORMATION FOR ABS VEGAS

REGISTRATION TYPE TUITIONStandard Registration - SFIG Member $1,095

Standard Registration - Non-Member $2,195

Investor - SFIG Member $0

Investor - Non-Member $145

Issuer - SFIG Member $95

Issuer - Non-Member $145

Government Employee $0

January 21-24, 2014 • The CosmopoliTan™ of las Vegas • las Vegas, nV

TELEPHONE:212-224-3428

9:00 a.m. - 5:00 p.m. • U.S. Eastern Time Monday-Friday

WORLD WIDE WEB:www.imn.org/absvegas

EMAIL:Chris Arnold at

[email protected]

Discounted Registration QualificationsOnly eligible issuers and investors qualify for investor and issuer registration discounts. Under IMN’s rubric, qualified investors invest solely on behalf of their own firm; likewise, qualified issuers issue solely on behalf of their own firm. If the job function of the submitted client includes investing or issuing on behalf of an outside firm (on behalf of clients), the individual does not qualify as a bona fide investor or issuer. ISSUER/INVESTOR PASSES ARE NOT APPLICABLE TO BROKER/DEALERS, TRADERS, STRUCTURERS, ARRANGERS, LAWYERS, TRUSTEES, RATING AGENCY ANALYSTS, OR OTHER THIRD-PARTY SERVICE PROVIDERS. For information about SFIG membership, visit www.sfindustry.org/becomemember.html, or contact Richard Johns, Executive Director, SFIG at [email protected]; 571-296-6017 Continuing Professional Education CreditsPresenters and attendees may qualify to receive CPE or New York CLE credits at ABS Vegas 2014. The qualifying sessions, number of credits available, and steps to take will be determined closer to the event. Full details will be posted in the Conference Program onsite. For sponsorship and speaking opportunities, contact Christopher Keeping at [email protected] or 212-901-0533.

Tuesday, January 21st5:20pm

The Chelsea Theater at The Cosmopolitan™ of Las Vegas

Please Join VantageScore for an Evening of Networking, Drinks & Food

to Welcome You to

ABS Vegas 2014

A Special Thanks to Our

Opening Night Cocktail Reception Spons

or

SFIG and IMN are proud to be hosting our annual gathering at one of Las Vegas’ newest and chicest properties, The Cosmopolitan™ of Las Vegas. Featuring luxurious rooms and extensive amenities, exciting gaming and entertainment options, and world class restaurants and meeting space for client hosting, the Cosmopolitan™ is THE most desirable venue in Las Vegas.

ABOUT THE VENUE

3708 Las Vegas Boulevard South Las Vegas, NV 89109Phone: 702-698-7000

Website: http://www.cosmopolitanlasvegas.com

For a listing of suggested hotels at preferred conference rates, please visit the event website,

www.imn.org/absvegas

The most important global annual gathering of the CLO and Leveraged Loans sector featuring 1500+ attendees.

For sponsorship and speaking opportunities, contact Christopher Keeping at [email protected] or +1 212 901 0533.

www.imn.org/clony2014


ABS East®

2014 Announcing a New, Earlier Date Pattern:

September 21-23, 2014 The Fontainebleau, Miami Beach FL

Save the Date!

Investor Focused. Investor Driven.

Annual The th 20

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