Provisional Start & End Times:
June 3rd 8:00am-6:00pm
Big Picture Issues
The Economy, Mortgage Market, Consumer & Housing Market
- Evaluating macro trends affecting interest rates and demand dynamics
- Analyzing consumer resilience: Loan demand/defaults, employment rates, household and credit card debt levels, and mortgage origination trends
- Will the increase in volume of non-agency MBS continue?
- Housing affordability pressures: rising property taxes/insurance premiums and refi-lock effects from changing interest rates
- Identifying whether the current interest rates can unlock pent-up demand
- Impact of announced $200 billion government purchases and commercial bank holdings
- Homes and the supply side
- Regulatory and policy shifts
The Economy, Mortgage Market, Consumer & Housing Market
- Current and future GSE reform and market initiatives
- Assessing how low-credit borrowers might change future pool dynamics
- Planning for continued CRT activities, targeting specific STACR and ACIS transactions
- Examining changes GSEs implemented, leveraging FICO/Vantage scores in underwriting.
- Guaranteeing BTR takeouts and agency business purposed loans for SFR under the new single family rental regulations
- Debating whether GSEs should serve as an MBS buyer of last resort.
- Evaluating how GSE activity affects the spread between treasuries and mortgage rates.
- Implementing the Trump administration’s order for Fannie and Freddie to buy mortgage bonds
- Utilizing the Common Securitization Platform (CSP and the Uniform Mortgage-Backed Securities (UMBS for efficiency
- Ginnie PIIT and other emerging e-mortgage initiatives
Evaluating Significant Risks With The Mortgage Market & Valuation Challenges
- Navigating climate and counterparty risks
- Credit enhancement strategies
- Defensive strategies against fraud and stretched appraisals
- Evaluating credit deterioration trends when determining appropriate credit enhancement levels.
- Reviewing loan performance in this environment of rising prepayments and housing turnover
- Determining adequate reserve funds for different non-agency products
- MBS vs. non-agency credit, interest rate and prepayment risk: Are levels rising?
- Assessing the "tail risk" to subordinate classes
- How risky is the warehouse market?
Exploring Future And Emerging Trends Shaping The Housing Finance Landscape
- Identifying top-performing products and growth areas for originators and lenders: Will the growth continue?
- Exploring blockchain, Crypto originations, fractionalized slices straight to investors and mortgage-backed tokens
- Forecasting growth in home-equity originations for 2026? Will non-bank origination growth continue?
- Considering the use of VantageScore 4.0 and alternative data
- Exploring "Green RMBS" opportunities and the impact of sustainability certifications on asset value 23-24
- When will the increase in issuance be too much issuance?
- Institutional buyer restrictions and bi-merge credit reporting transition and vantage score impact
- The obsolescence of the appraisal
- Increases in AI efficiency and using semiautonomous Agentic AI as a fiduciary
Securitization Themes
Structuring: The Art, Science & Latest Developments In RMBS Design & Financial Engineering In This Shifting Market
- Impact of 2026 agency criteria updates on tranche sizing, credit enhancement requirements, and Advance Rate optimization
- Dynamic trigger point evolution in this economic environment for pro-rata or sequential repayment structures
- Assessing issuer perspective on optimizing the capital stack.
- Funky non-agency collateral types and their intricacies
- Designing CMOs with specific prepayment and extension risk profiles for varied investor needs
- Balancing registered structure cost and complexity vs. the liquidity and limited investor pool of Rule 144A
- Implementing new industry due diligence standards for seasoned loans to enhance cash flow modeling and deal execution.
- Navigating the Reg AB II modernization and the 2026 Basel III capital re-proposal for enhanced deal execution
- Lien priority and payment shock complexities across diverse collateral types
- Optimizing tranches for capital efficiency by segmenting pools with varied DTI, LTV, and FICO scores
Assessing The Issuers’ Strategic Exit Option Menu: Optimizing Between Retaining Assets Vs. Whole Loan Sale Vs. Securitization
- How are you leveraging the private credit surge to increase execution flexibility
- Exiting via flow vs. bulk sale: Which is more attractive for you?
- Determining the best execution option: whole loan sales vs. securitization
- Exploring partnerships with private equity vs. other financing methods
- Balancing capital, liquidity, and future draw exposure when selecting exit strategies
- Trading the servicing right and excess
- Impact of current investor appetite and demand levels of different collateral
- Short-term financing relative value vs. concentration risk
- When to Make the synthetic exit real
- Navigating regulatory shifts and rating premiums when choosing exit options
- Leveraging AI and data to compress exit windows and minimize bidding haircuts
The First-Time Issuers Experience: From Launch To Execution
- What are the first things I need to do?
- People, process and technology
- What to look for when building an external team
- Comparing dealer securitization with pipeline aggregation: Where is the most value for the least brain damage
- Collateral specific need to knows
- Getting the institutional investor onboard with minimal first-time issue penalty
- Achieving and stressing first-time AAA ratings for senior tranches
- Utilizing the Common Securitization Platform for QM while adopting mirror standards for Non-QM
- Making real the time line: Managing hedge risk during the execution window
- Establishing operational resilience: Navigating cybersecurity, surveillance requirements, and post-closing shelf maintenance
Ratings & Credit Enhancement Developments In This K-Pop, K-Shaped Environment
- Determining appropriate credit enhancement levels when credit deterioration trends is #1… Which Structural or qualitative risk is #2?
- Subordination, reserve funds, and redemption accounts: Which provides the most bang for the buck in today’s capital structure?
- Optimizing credit characteristics: Calibrating DTI, LTV, and FICO scores for maximum execution
- Assessing how loan features like prepayment penalties are affecting pricing and rates
- How are you stepping up due diligence on non-agency deals?
- What would be the impact of GSE privatization
- Assessing counterparty resilience for banks and non-bank capital
- Leveraging AI and blockchain for "Data Certainty
Issuer/Investor Closed Door Exchange: Unfiltered & Uninterrupted
Take advantage of this unique opportunity for issuers and investors to connect directly, off-the record. This session bypasses the noise and the intermediaries to focus on the essentials: what data actually moves the needle, how investor credit appetites are shifting, and a candid look at the "hidden" factors, valuation factors and transparency that make one pool more in demand than another.
Post-Securitization
Post-Origination Best Practices For Securitization Governance, Admin, Servicing, Surveillance, Asset Management & Reporting
- Navigating the administrative burden of Ginnie Mae’s recovery and resilience mandates alongside the GSEs' new credit score model transitions
- Solving the challenges inherent with managing MSR valuation volatility and the timing of servicing advances
- When should you administer in-house and when should you outsource? Best practices for scaling your administration function
- What kind of monitoring and reporting are you using to evaluate your admin team?
- Best practices, reporting and governance for managing early buyouts
- What kind of proprietary technology stacks are needed compliance and real-time analytics
- What is out there for on-demand insights into portfolio performance, homeowner behavior, and risk indicators
- Leveraging agentic AI for predictive analytics and compliance
Mastering the Full Mortgage Risk Management & Hedging Lifecycle: Pipeline, MSRs, Pools, Capital Market & Investments
- The great hedge vs. no hedge debate carries over to the ’26 market…
- Different mortgage instruments… different hedge strategies vs. one size fits all
- Managing shifting interest rates and their impact on prepayments and valuation
- Determining credit enhancement levels for non-financial and non- market risk
- How is basis risk between hedge instruments and underlying mortgage loans changing as interest rates change?
- Funky new technology out there for risk management solutions.
- Assessing the value of agency MSR portfolios, considering Ginnie Mae specific risks
- How long will the policy volatility continue?
Mortgage Investors Relative Value Plenary… Where’s The Bulls’, Bears’ & Beef?
- Yield vs. liquidity… What is your preference?
- Pricing the insurance tax into your relative value equation
- Are pools underwritten by new AI tools performing better?
- When do you look to put a hedge on?
- What new data is becoming your favorite?
- New issuer: What would prevent the first-time haircut?
- Are you planning on buying, selling or stand put?
- Evaluating relative value across agency, non-agency, and credit investments
- Your favorite trade today
Sector-Specific Discussions
These interactive discussions will address the market conditions, risk & investment strength, and securitization specifics, as well as the underwriting, performance, surveillance, and execution requirements unique to each of the following mortgage products:
Home Equity: Comparing The Growth & Risks Of The Old World With The New
This session contrasts traditional Reverse Mortgages, Second Liens, and HELOCs with the rapid growth of Home Equity Investments (HEI). The discussion will dive into the economics of tapping high-equity portfolios in 2026, the competitive impact of the GSEs' entry into the second-lien market, and how new political and administrative shifts are reshaping the sector. Experts will also address fresh market "wrinkles," focusing on the performance of non-debt products and the surveillance required to monitor "silent seconds" and regional risk.
Preparing For The Business-Purpose Reset: Navigating Policy Explosions and New Underwriting Realities
RTL/Fix & Flip, DSCR & SFR, Short term rental and Agency investor loans will be the asset covered and key discussion points will focus on the fraud and other risks of consumers vs. businesses; prepayments and the art of underwriting properties based on rental income, not personal or business income. The panel will examine how regulatory risk has exploded into the sector, with aggressive administration policy shifts, potentially completely changing the entire market
Non-QM/Jumbo/Expanded Credit: Giving This Dominant Asset Type It’s Due In An Environment Of 25% Securitization Growth
This session identifies top-performing products and growth areas for originators, specifically focusing on bank statement loans for the self-employed. Discussion includes structuring deals with diverse collateral and utilizing alternative underwriting—including full, P&L, and bank statement documentation. Experts will analyze how tighter spreads and improved execution fuel record 2026 securitization volumes, while addressing emerging risks, performance pressure, and managing less-than-full documentation loans for near-prime credit scores in this rapidly scaling sector
MSR & Servicing Advance Market Securitizations And What Makes Them Perform
As the 2026 interest rate environment changes, this discussion will analyze the impact of prepayment speeds on values and the latest from Fannie, Freddie, and Ginnie Mae. Also explored, will be how aggressive recapture is stoking values, the effect of higher conforming loan limits, and the strategic shift from bank-led warehouse lines to programmatic term note securitizations. Additional key discussion points include utilizing MSRs as a macro hedge, the rise of private-label advance financing, and how these permanent capital structures compare to traditional credit facilities in ensuring long-term secondary market performance.
RPL & NPL Securitization And The Impact Of Changing Credit Score Methodologies
As 2026 market dynamics normalize, this session analyzes the latest NPL/RPL CRT auction performance and the shift toward programmatic, term-note securitizations for seasoned and reperforming assets. Discussions will also center on how the industry-wide transition to FICO 10T and VantageScore 4.0 impacts deal structuring, consumer credit monitoring, and risk management for diverse loan pools.
CRT And How GSE Privatization Can Impact
As this market grows, we will go through the best and worst case scenarios for market liquidity, credit risk, spreads, and the structural adaptations required for secondary market stability if privatization happens. We will also focus on key issues for the current securitization market including different collateral performance, investor appetite for new risk-sharing tiers, and the impact of updated capital requirements on CRT issuance