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- Date: February 19th
- Time: 2:00 p.m. EST
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presented by
Uncovering the Known Unknowns in Mortgage and Home Equity Portfolios
The recent economic downturn has proved to be challenging for today’s portfolio managers. This informative web seminar will examine a premium case study, analyzing and highlighting the new system and methodology implemented by the real estate risk management group at Mission Federal Credit Union (MFCU) of San Diego County. This system was created as a way to proactively address and quantify the potential default risk of their existing performing and non-performing mortgage and home equity portfolios.
Credit unions and lending institution attendees will learn:
· Ways to proactively improve your lending and risk management business practices by defining the missing information that was not required by secondary market standards during the mortgage application and origination process.
· What proactive steps were taken by Mission FCU to consistently validate the assumptive risks of their performing segment of their portfolio.
· How Mission FCU managed loans that are at the highest risk of default.
The information provided in this case study is intended for credit unions that are or were originating & portfolio residential mortgages and/or home equity loans and/or home equity lines of credit.
Featured speaker:
Daniel Thompson, Loss Mitigation Manager, Desert Schools Credit Union
Daniel Thompson is the Loss Mitigation Manager at Desert Schools Credit Union in Phoenix, Arizona. Daniel has worked in the mortgage business and risk management for 21 years, and has currently been at Desert Schools for 7 months.
Prior to being at Desert, Daniel worked at Fannie Mae in Chicago, Dallas, Miami, and Phoenix, also in the risk management group. Daniel believes that sharing his risk management tactics and experiences with other credit unions will more quickly bring credit union communities and their members back to normal.