PA Speaker Descriptions and Breakout Session Details
Tuesday, May 4, 20107:00 pm
Cabaret Reception - Sponsored by BECU
Amy Armstrong & Freddy Allen Of all the entertainers performing today, Amy Armstrong and Freddy Allen are the ones standing out above the rest. This Chicago-based “Dynamic Duo” has been captivating audiences for fourteen years. Amy’s beautiful voice, edgy humor and quick wit, combined with Freddy’s impeccable musical arrangements and sly repartee, create an evening of the most enjoyable and unforgettable entertainment.
Wednesday, May 5, 20109:00 am to 11:30 am
Keeping members in homes through loan modification
Steve Kravitz, Vice President of Default at Cenlar
While the recession may be about over, loan modifications persist, and will for some time. It's a highly complex task with even higher stakes. When handled correctly members keep their homes, your credit union keeps its members. A great deal of the loan modification burden falls to mortgage loan servicers under the government and many private programs. During this session Steve Kravitz, Vice President of Default at Cenlar, will share his insight on how to identify loan modification candidates, the proper way to structure modified loans, how and when to follow-up with borrowers and how to correctly account for restructured debt.
3:30 pm to 4:45 pm
Prime Alliance General Session
Joe Brancucci, Prime Alliance Solutions, Inc
Introducing new services and capabilities is a Prime Alliance Symposium tradition. This year is no different. We’ve been working on a number of new initiatives for the past several months, and we’re eager to share them with you. CEO and Chairman Joe Brancucci will provide an update on all that PA has planned to further improve the member experience and to increase your lending efficiencies.
Thursday, May 6, 201010:30 am to 11:45 am
Capital Markets
Tom Millon and Jeff Harry, Capital Markets Cooperative
What? No Freddie? No Fannie? This past week Congressman Barney Frank (D-MA) and the House Financial Services Committee announced they will be recommending abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance. While no one expects this to happen immediately or soon, this news wasn't unexpected. While we may have a year or more before changes such as these happen, the time to strategize is now. In this session you'll learn about the potential timelines for a revised housing finance system, and steps we're taking to create an alternative capital market for credit union mortgage loans, a decades-old goal of the credit union system. Affordable housing finance for members is at stake!
Fair-Lending and Credit Unions
Jeff Lazerson, President, Mortgage Grader and Howard Banker, Executive Director, Fair Mortgage Collaborative
The Department of Justice has quietly begun forming a new fair-lending unit within the Housing Section of its Civil Rights Division, according to top agency officials. Not so quietly a group known as the Fair Mortgage Collaborative has been working to create a 'Good Housekeeping' seal of approval program for lenders who pledge to treat borrowers fairly. Credit unions are a natural fit, and Prime Alliance credit unions are a perfect fit for Fair Mortgage certification. During this session you'll hear from the founders of the Fair Mortgage Collaborative, how the effort began, their quest to certify lenders, how the certification process works and the benefit to your credit union. The lack of fair lending practices contributed to the sub-prime crisis and the recession. Efforts such as these create a better environment for housing finance and a better experience for your members.
CLOs are from Mars, CFOs are from Venus
Brian Best, CLO, Grow Financial FCU & Trent McIlhaney, CFO, Bay FCU
Chief Lending Officers and Chief Financial Officers speak different languages. They also place different values on lending activities. CLOs value volume, market share and risk management while CFOs concern themselves with duration, mortgage servicing rights and a language no one understands called Financial Accounting Standards. Now more than ever CLOs and CFOs must work together, and, to work together, they must really understand one another so that their credit union's strategies succeed. Join two of the credit union industry's most engaging and thought-provoking professionals as they discuss how they've learned to bridge the gap between lending and finance and the impact its had on their credit unions.
1:15 pm to 2:30 pm
Attract More Members. Close More Loans
Tracy Ashfield, Prime Alliance Solutions, Inc., and Jeff Shood, Intuvo, LLC You've spent the last several years tackling the intricacies of mortgage production efficiencies, and it's paid off. After 2009 we know we can effectively process more than three-times normal volumes while keeping member service levels high. Now that we're efficient, it's time to figure out how to make last year's volume the new every day norm. The secret to helping more members become homeowners with the help of their credit union is to know what they are thinking long before they begin shopping or seek financing. We'll talk about the concept of how member approach home buying, and what you can do to meet them early in the process. Then turn to the topics the latest methods of making sure members who apply with you close with you.
Mortgage Lending with Mass Appeal
Scott Strand, Senior Vice President, Lending, BECU
What's a credit union to do? Members want low rates and easy terms. Realtors want even lower rates and even easier terms. Regulators, well, they want something altogether different. Yet a successful credit union must balance its mortgage lending program so that it meets the needs of every audience. While never easy, doing so has become remarkably complex in today's environment. Join us to learn how his credit union managed to close more than 8,000 loans in 2009 while keeping members happy, serving the real estate community, and satisfying regulatory concerns about real estate lending.
2:45 pm to 4:00 pm
Fannie Mae’s Loan Quality Initiative
Greg Phillips, Senior Product Manager, Fannie Mae
Fannie Mae has undertaken a major effort – the Loan Quality Initiative – to obtain a clearer picture of the loans we guarantee to ensure that the delivery data is complete, accurate, and fully reflective of the actual terms of the mortgage, as well as aligned with our policies and standards.
To achieve our vision of a business model that is sustainable in all market cycles, Fannie Mae wants to work with our lenders to improve our ability to ensure that loans sold to us meet our credit, eligibility, and pricing guidelines. To do this, Fannie Mae will begin to implement new policies, business processes, and offer tools and resources for lenders that will: • capture critical data earlier in the process;
• help ensure validation of loan data before, during, and immediately after purchase; and
• provide continual and relevant feedback and training. Join us for an overview of the Loan Quality Initiative, with a focus on the 2010 updates to Fannie Mae’s guidelines – we’ll tell you about our policy, technology, and delivery guideline updates and target timeline for this year. The overview is intended to help you prepare for what’s coming and allow you to plan and prioritize resources as applicable.
4:15 pm to 5:15 pm
Prime Alliance Solutions Keynote: The Evolution of Credit Union Mortgage Lending
Joe Brancucci, Prime Alliance Solutions, Inc
BECU, the nation's fourth largest credit union, has been a mortgage lender for just 15 years. From no mortgage program in the early 1990s to one of the dominant lenders in its market, the credit union strategically and methodically built its strategy, culture and infrastructure to meet the real estate financing needs of its members.
Fifteen years on, BECU is one of the most successful credit unions in the country, having grown from just under $2 billion in assets serving just under 200,000 members to almost $9 billion in assets serving over 600,000 members. The 'Home Event', which starts when their member begins thinking about buying a house, is one of the fundamentals upon which their growth strategy is built.
Evolution is never-ending. Join Joe Branucci, EVP and COO, as he discusses how BECU chose the Home Event and Real Estate Lending as the means to propel this leading credit union into the future. Mr. Brancucci will also discuss their plans for the coming years as BECU seeks to become the only financial institution their members, especially first-time buyers, think of when it comes time to buy and finance their homes.
Be sure to continually visit http://www.drivinghome.org or click the Symposium link located on the PA homepage for more details and the latest 2010 Symposium news. Copyright © 2010 Prime Alliance Solutions, In. All Rights Reserved.
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