Speakers and Presentations at this year’s meeting include…

Click here for presentation materials: ABS Credit Migrations.

Mark Adelson is a director and head of structured finance research at Nomura Securities International in New York. He joined Nomura in February 2001. Since joining the firm, he has published articles on a wide variety of securitization topics and has worked closely with other members of the fixed income division toward expanding Nomura’s ABS activities.

Before coming to Nomura, Adelson worked at Moody’s Investors Service for nearly 10 years. From 1995 through January 2001 Adelson was a managing director in Moody’s structured finance group and, at various times, headed or co headed Moody’s ABS, MBS, and ABCP teams. Adelson joined Moody’s in 1991 as a senior analyst in the asset-backed commercial paper area. He authored numerous special reports on securitization subjects during his years at Moody’s.

Before joining Moody’s, Adelson practiced law for six years at the firm of Thacher Proffitt & Wood, where he worked on mortgage-backed securities transactions and related regulatory matters. Adelson is a member of the New York bar. He holds a JD cum laude from Michigan and an AB magna cum laude in economics from Princeton.

Panelist: Kumar Aiyer

Senior ABS Analyst, Banc of America Securities

Kumar Aiyer is Head of ABS Research for Banc of America Securities, since 2002. As the senior ABS analyst, his responsibilities include research and strategy for all ABS including home equity, auto, credit card, student loan and other sectors.

Prior to joining BAS, Aiyer was a home equity ABS analyst with CSFB where he focused on prepayment and credit analysis of mortgage-related ABS since 2000. Before joining CSFB Aiyer worked with the mortgage strategy team at Paine Webber covering High-LTV and other mortgage-related ABS products.

Aiyer received a bachelor of engineering degree in electrical engineering from the University of Madras, India. Aiyer also received M.S. and doctor of philosophy degrees in electrical engineering from the University of Rochester, NY.

Moderator: Jennifer Anderson

Managing Director, GMAC-RFC

Jennifer Anderson is managing director of trading for GMAC-RFC’s Residential Capital Group, the company's largest business. As managing director, Anderson oversees issuance off of the RAMP shelf. Her specific responsibilities include acquisition, distribution and hedging strategies associated with three specific product lines, high LTV first liens, Alt-B, and seasoned called loans. Anderson joined GMAC-RFC in 1996 and has managed several trading positions. Prior to joining GMAC-RFC, Anderson was a bond trader with Bank of America in San Francisco.

Anderson graduated with a bachelors of science degree in economics with a math emphasis from the University of Minnesota.

Panelist: Joshua Anderson, CFA, PIMCO

Vice President, PIMCO

Joshua Anderson, CFA is a Vice President and a portfolio manager in our ABS/MBS group who also works extensively with the ABS research team. Before joining PIMCO in 2003, he was an institutional investor ranked analyst at Merrill Lynch covering both the residential ABS and CDO sectors. Prior to that, he was a portfolio manager at Merrill Lynch Investment Managers. Anderson has nine years of investment experience.

Anderson holds an M.B.A. in both accounting and finance from the State University of New York, Buffalo and the CPA certification. In addition, he is a CFA charterholder and Series 7, 63 and 65 certified.

Panelist: Marjorie L. Anderson, CFA

Senior Portfolio Manager, Allstate

Marjorie L. Anderson is responsible for managing Allstate’s public and 144A asset-backed portfolios. There are two main portfolios totaling apprioximately $5 billion. One portfolio is a buy and hold portfolio managed for the life insurance company, the other is a total return portfolio managed for the property and casualty company. Prior to joining Allstate in 1993, Anderson worked at FGIC and CNA Insurance where her responsibilities included originating and structuring real estate and other receivable-backed transactions.

Panelist: Joseph Andries

Senior Vice President, US Bank Portfolio Services

Joseph Andries oversees the overall management of US Bank’s Portfolio Services division. This division specializes in full and back-up servicing of non-US Bank owned leased and loaned assets for small and medium sized leasing companies, investment firms, and banks. Servicing capabilities fulfill lease and loan portfolio management needs through advanced systems, knowledgeable processes, and exceptionally trained employees.

Andries has orchestrated his servicing team through taking over as successor servicing of 20 major finance companies in the past three years and currently provides back-up servicing on over 55 portfolios consisting of over $6 billion in leases and loans. In addition to successor servicing, Portfolio Services have helped over 90 investors, captives, and lessors maintain a growing and profitable portfolio by outsourcing to its efficient and flexible servicing operation in Marshall, MN.

Andries is a graduate of St. John’s University in Collegeville, MN and has been with US Bancorp Business Equipment Finance Group since 1988.

Panelist: Emil Arca

Partner, Dewey Ballantine LLP

Emil Arca is a partner in Dewey Ballantine’s New York City office. He represents issuers, underwriters, insurers and other parties in a wide variety of structured financings. In the last several years, transactions he has worked on have received "Deal of the Year" awards from Asset Securitization Report, Structured Finance International, Latin Finance, and Emerging Market Investor.

Arca has been selected for inclusion in each of the first four editions of the Euromoney Legal Media Group Guide to the World’s Leading Securitization and Structured Finance Lawyers as well as Law & Business Research’s An International Who’s Who of Securitisation Lawyers and Who’s Who Legal: The International Who’s Who of Business Lawyers.

Arca has published articles on structured finance topics in the Review of Banking and Financial Services, International Securitization & Structured Finance Report, and International Financial Law Review. He has also spoken on diverse topics at conferences, meetings and classes throughout the United States as well as in Argentina, Bermuda, Brazil, El Salvador, England, Korea and Mexico at meetings for clients of the Firm as well as the invitation of groups such as the American Securitization Forum, Asociación Bancaria Salvadoreño (ABANSA), Duff & Phelps Credit Rating Co., the Federalist Society for Law and Public Policy Legal Studies, Federación Latinoamericana de Bancos (FELABAN), Frank Fabozzi/Information Management Network, Global Business Research, Institute for International Research, the Instituto Mexicano de Ejecutivos de Finanzas, Latin Finance magazine, the Michigan Bankers Association, National Information and Credit Evaluation, New York University’s Federal Taxation Institute, the Strategic Research Institute, and Valuacion y Venta de Activos (VVA).

Arca joined the Firm as a partner in 1994. He received his J.D. from the University of Michigan Law School in 1985 where he was an Executive Editor and Articles Editor of different volumes of the Michigan Yearbook of International Studies.

Panelist: Mark Attar

Special Counsel, U.S. Securities and Exchange Commission

Mark Attar is a Special Counsel in the Division of Market Regulation at the U.S. Securities and Exchange Commission. Since 1998, Attar has been responsible for broker-dealer financial responsibility regulations, including the net capital, customer protection, financial reporting, and recordkeeping rules. Attar also reviews requests by credit rating agencies to be recognized as nationally recognized statistical rating organizations, and was actively involved in the drafting of the SEC’s report under the Sarbanes-Oxley Act of 2002 on the Role and Function of Credit Rating Agencies in the Operation of the Securities Markets, as well as the SEC’s 2003 concept release on rating agencies and the use of credit ratings under the federal securities laws.

Click here for presentation materials: If You Were Alan Greenspan, What Would You Do?

Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics at Princeton University and Director of Princeton’s Center for Economic Policy Studies, which he founded in 1990. He is also a partner in Promontory Financial Group, Vice Chairman of the Promontory Interfinancial Network, a member of the Advisory Board of Promontory Asset Finance Company, and Chairman of the Advisory Board of Saber Partners. He also serves as Vice Chairman of the G7 Group.

Dr. Blinder served as Vice Chairman of the Board of Governors of the Federal Reserve System from June 1994 until January 1996. In this position, he represented the Fed at various international meetings, and was a member of the Board’s committees on Bank Supervision and Regulation, Consumer and Community Affairs, and Derivative Instruments. He also chaired the Board in the Chairman’s absence. He speaks frequently to financial audiences.

Before becoming a member of the Board, Dr. Blinder served as a Member of President Clinton’s original Council of Economic Advisers from January 1993 until June 1994. There he was in charge of the Administration’s macroeconomic forecasting and also worked intensively on budget, international trade, and health care issues. During the 2000 and 2004 presidential campaigns, he served as an economic adviser to Al Gore and John Kerry.

Dr. Blinder earned his A.B. at Princeton University, M.Sc. at London School of Economics, and Ph.D. at Massachusetts Institute of Technology--all in economics. Dr. Blinder has taught at Princeton since 1971, and chaired the Department of Economics from 1988 to 1990.

Dr. Blinder is the author or co-author of 16 books, including the textbook Economics: Principles and Policy (with William J. Baumol), now in its 9th edition, from which nearly two million college students have learned introductory economics. He has also written scores of scholarly articles on such topics as fiscal policy, monetary policy, and the distribution of income. From 1985 until joining the Clinton Administration, Dr. Blinder wrote a lively monthly column in Business Week magazine. Currently, he is a regular commentator on PBS’s Nightly Business Report and appears frequently on CNBC, CNN, Bloomberg TV, and elsewhere.

Dr. Blinder served briefly as Deputy Assistant Director of the Congressional Budget Office when that agency started in 1975 and has testified many times before Congress on a wide variety of public policy issues. He is a Trustee of the Russell Sage Foundation, a member of the Bretton Woods Committee and the Bellagio Group, a former governor of the American Stock Exchange, and has been elected to the American Philosophical Society and the American Academy of Arts and Sciences.

Panelist: Thomas R. Boemio

Senior Project Manager, Federal Reserve System Board of Governors

Thomas R. Boemio is a Senior Project Manager, Policy in the Supervisory and Risk Policy Section of Banking Supervision at the Board of Governors of the Federal Reserve System. Boemio has worked extensively on the Basel II revisions related to asset securitization and credit risk mitigation. His areas of responsibility include domestic and international capital requirements, asset securitization, as well as related accounting and regulatory reporting issues.

Boemio holds a B.A. in economics from Rutgers University, an M.A. in applied economics from SUNY-Binghamton, and an M.B.A. in Finance from George Washington University.

Panelist: Rita M. Bolger

Managing Director, Standard & Poor’s

Rita M. Bolger has served as Managing Director, Global Regulatory Affairs and Associate General Counsel for Standard & Poor’s since December 2001. Standard & Poor’s, a division of The McGraw-Hill Companies, Inc., is a global leader in providing independent credit rating opinions, research, investment data, and analytical services. She has global responsibility for Standard & Poor’s relationships and policies with respect to government and regulatory agencies, as well as legal regulatory and compliance issues for Standard & Poor’s three business units: Credit Market Services, Investment Services, and Corporate Value Consulting.

Bolger is a member of Standard & Poor’s Executive Committee. Prior to assuming her current position, she was Managing Director and Associate General Counsel for Standard & Poor’s Ratings Services where she had worldwide responsibility for Ratings Service’s legal regulatory affairs. She joined Standard & Poor’s in 1989 and held positions in the Ratings Services’ legal department responsible for many aspects of the ratings business, including structured finance.

Prior to joining Standard & Poor’s, Bolger was associated with the law firm of Dechert, Price & Rhoads where she advised Standard & Poor’s on many aspects of the ratings business.

Bolger is a member of the TriBar Legal Opinion Committee and holds a bachelors degree in Government from Smith College and a law degree from Tulane University School of Law.

Panelist: Kathleen Bostjancic

Director & Senior U.S. Economist, Merrill Lynch

Click here for presentation materials: Characteristics of a Housing Bubble.

Kathleen Bostjancic is a Director and Senior U.S. Economist at Merrill Lynch. She is responsible for analyzing economic activity and its implications for Federal Reserve policy and the fixed-income markets. She also analyzes U.S. fiscal policy, Treasury cash flows and projects the Treasury financing requirements. Recent research includes articles written on the current account and budget deficits, foreign central purchases of Treasuries, the possibility of a housing bubble, and the implications of the Kerry-Bush presidential race on the financial markets.

Bostjancic can be heard and seen on a regular basis on Bloomberg radio and television. She is frequently quoted on the economy, the Fed and interest rates in the financial press. She is a member of the National Association for Business Economists (NABE) and a governor of the New York Money Marketeers.

Previously, Bostjancic worked as a Money Market Economist at Union Bank of Switzerland and as an International Economist at Citibank Investment Bank.

Bostjancic holds an M.A. degree in economics from New York University and a B.A. in economics from Rutgers College, Rutgers University.

Speaker: Karlene Bowen

Director, Regulatory and Analytic Solutions, Credit Bureau Analytics

Click here for presentation materials: Demystifying FICO Scores.

Karlene Bowen is Director of Regulatory and Analytic Solutions for credit bureau analytics. Her main role is to manage the team dedicated to developing solutions with clients to better leverage the predictive power of the Fair, Isaac credit bureau products and services. Her team also manages the credit bureau relationships with Fair Isaac as well as working closely with U.S. bank examiners and lenders regarding regulatory compliant use of scoring tools. Prior to joining Fair, Isaac in 1996, Bowen served as the senior vice president of consumer loan risk management for Barnett Bank, Florida.

Panelist: Brian Bowes

Head of Non-Agency ARM, UBS

Brian Bowes heads the non-agency ARM effort at UBS. Having first ventured into ARMs in 1994 at Kidder Peabody, he also traded agency ARMs for Smith Barney and in 2000 went to DLJ/CSFB to trade whole loan ARMs.

Bowes has an M.B.A. and B.A. in finance from New York University.

Panelist: Martin Braunstein

Managing Director, MBIA Insurance Corporation

Martin Braunstein is a Managing Director at MBIA Insurance Corporation where he heads the Structured Finance Division’s Operating Assets Group. The group focuses on securitizations of transportation assets, principally aviation and the rolling stock sectors. In 2004, the Operating Assets Group insured transactions secured by single obligor aircraft EETCs, aircraft portfolios, shipping containers, container chassis and railcars.

Braunstein joined MBIA’s Structured Finance Division in 1999 as a Director in the Corporate Group. Prior to joining MBIA, he was a Managing Director at the National Cooperative Bank, where he ran the Capital Markets Group.

Braunstein received a B.A. in Economics from the College of William and Mary in 1980 and an MBA from the Colgate Darden School at the University of Virginia in 1986.

Panelist: Ernie Bretana

Senior Vice President, Saxon

Ernie Bretana is Senior Vice President of Capital Markets for Saxon and is responsible for administering its ABS issuance program. Bretana has been in Saxon’s Capital Markets Group for 5 years and in the structured finance field for 8 years.

Panelist: Robert J. Burns, CFA

Director, Mortgage Funding, Freddie Mac

Robert J. Burns, CFA joined Freddie Mac in 1994 where he is currently responsible for marketing mortgage-backed securities to institutional investors on global basis.

Previously, Burns was with Aetna Capital Management in Hartford, CT (later known as Aeltus Capital Management) where he was part of the mortgage team. He began his career with Merrill Lynch in 1986.

Burns graduated from the Leeds School of Business at University of Colorado in Boulder, CO and earned his MBA from the University of Connecticut in Storrs, CT. He is a Chartered Financial Analyst and a member of the Washington Society of Investment Analysts.

Panelist: Russell Burns

Director, Credit Suisse First Boston

Russell Burns is a Director in the Asset Finance Group. He is responsible for CSFB’s commercial business loan securitization practice including franchise, small business, middle market, whole business, franchise royalty and timeshare asset classes. Prior to joining CSFB, Burns was a Managing Director in the Asset Finance Group at Prudential Securities. Prior to Prudential, Burns spent nine years at Salomon Smith Barney, where he held senior positions in the financial institutions, debt capital markets, CMBS and ABS groups.

Panelist: Steven C. Busby

Managing Director, Greenwich Associates

Click here for presentation materials: Investor Survey.

Click here for presentation materials: International Market Update.

Chauvel is head of the ABS Group at SG Corporate & Investment Banking in New York. The ABS Group is responsible for originating, structuring, arranging and distributing asset-backed securities in the US and European capital markets.

Chauvel has previously held positions within the Australian financial markets, including head of SG’s Australia securitization operations from 1998-2002, and senior positions in securitization, project finance and advisory in a major Australian bank.

Chauvel holds a Bachelor of Commerce from the University of Western Australia and a Diploma of Applied Finance from the Securities Institute of Australia. Prior to leaving Australia, he was on the National Committee of the Australian Securitization Forum, and is currently a member of the American Securitization Forum and the Bond Market Association.

Speaker & Moderator: Diane Citron

Partner, Mayer, Brown, Rowe & Maw

Click here for presentation materials: Securitization: Where We Are Today.

Diane Citron is a Partner at Mayer, Brown, Rowe & May with responsibility in the mortgage- and asset-backed securitization area representing investment banks and financial institutions in the structuring and development of residential and commercial mortgage-backed programs and conduits for the purpose of issuing or participating in the issuance of MBS and CMBS, as well as collateralized mortgage obligations, asset-backed securities, including lease-backed, trade receivables, automobile and credit card securities and commercial paper backed by such receivables and the acquisition and subsequent securitization of financial assets.

Previously, Citron worked for Skadden, Arps, Slate, Meagher & Flom, Brown & Wood and Orrick, Herrington & Sutcliffe, all in San Francisco. She was senior counsel at Federal Home Loan Mortgage Corporation, a staff attorney for the S.E.C. Division of Enforcement and an attorney at Wasserman, Orlow, Ginsberg & Rubin, all in Washington, D.C.

Citron received a B.A. from Franklin & Marshall College and her J.D. from Case Western Reserve University School of Law. She is fluent in Spanish and admitted to practice law in California and the District of Columbia, as well as the U.S. Court of Appearls for the Fifth Circuit and the U.S. Supreme Court.

Panelist: James A. Clifton, Ph.D.

Vice President, Manufactured Housing Institute

James A. Clifton, Ph.D. is Vice President of Economics and Housing Finance for the Manufactured Housing Institute, serving as MHI’s chief economist and providing leadership for MHI’s Financial Services Committee and Division. He develops statistical and economic databases for the industry to assist MHI members in making sound business decisions based on reliable data and analysis. He addresses industry issues in the lending arena, develops and implements MHI best practices policies such as Lender’s Best Practices origination and servicing standards, fraud reporting to MARI, and TIPS invoicing procedures.

Since coming to MHI, Clifton along with his consulting company has developed a widely read and respected Quarterly Economic Report on manufactured housing. He has been credited on Wall Street with successful forecasting of issues that bear on the industry’s recovery such as the peaking of repossessed manufactured home inventory. His analysis of supply/demand imbalances in the single-section market segment has helped stimulate renewed retailer and manufacturer interest.

Working with an LBP Steering Committee comprised of industry leaders, Clifton’s research and policy activism have contributed to the re-opening of capital markets to manufactured housing. LBP’s goal is to lessen the traditional sharp swings in credit cycles for new home sales. Clifton is a frequent speaker at Wall Street securitization conferences, industry conventions, state manufactured housing association meetings, and housing forecast conferences. He has delivered testimony on issues such as the advantages of manufactured housing for senior citizens.

Clifton, a native of Portland, Maine comes to MHI from the private consulting company, Washington Economics Consulting Group, Inc., which he founded and owns. During his career, Clifton has represented numerous trade groups and corporations on economic issues, including the American Bankers Association, the Newspaper Association of America, Harris Corporation and Apple Computer. He has worked closely with the semiconductor industry, the textile industry and the LTL trucking industry.

Clifton also has significant experience on Capitol Hill, where he served as Republican staff director of the U.S. House of Representatives Committee on the Budget from 1983 to 1986. In this capacity, he contributed the concept of fixed-deficit reduction targets in the Gramm-Rudman-Hollings legislation. Before his stint on Capitol Hill, Clifton served as a senior economist at the U.S. Chamber of Commerce.

Clifton is a member of the Urban Land Institute and the Federal Statistical Users group. He has been on the faculty of economics and business at several universities, most recently at Catholic University. Early in his career, while a visiting professor at Cambridge University, he made original contributions to the economic theory of competition, later highlighted in The New Palgrave. He received his higher education at Cornell University and the University of Wisconsin-Madison, where he was a Ford Foundation Fellow.

Panelist: Kevin Cloyd

Executive Vice President, New Century Capital Corporation

Panelist: Liz Cohen

Group Vice President and Assistant Treasurer, Cendant Corporation

Liz Cohen is Group Vice President and Assistant Treasurer for Cendant Corporation. She is responsible for all of Cendant’s securitization and structured finance activities, including transaction structuring and execution, rating agency relations, portfolio monitoring, and investor reporting and relations. The asset classes that Cendant securitizes are fleet leases, rental car, timeshare, mortgages, and trade receivables.

Cohen has 20 years of experience in securitization and structured finance, mergers and acquisitions, and financial planning and forecasting. Prior to joining Cendant she was a Director in the Term ABS Group for Banc One Capital Markets where she was responsible for originating and structuring term asset backed transactions, securitizing auto and equipment loans and leases, and off-the-run assets, including rental cars and fleet leases. She also held senior securitization positions with BOCM’s administered conduits where she originated, structured, marketed and maintained a wide variety of conduit transactions securitizing trade receivables, auto and equipment loans and leases, synthetic leases, future flows, timeshare, and esoteric assets.

Cohen received a B.A. in history and political science from Washington University in St. Louis and an M.B.A. from the John M. Olin School of Business at Washington University.

Panelist: Christopher Conroy

Director, Standard & Poor’s

Christopher Conroy is a director in Structured Finance Ratings. His primary responsibilities include managing key client relationships in the consumer ABS group. Previous responsibilities included managing an analytical team responsible for rating securities collateralized by student loans, manufactured housing, auto loans and leases. Experience includes coordinating ratings development and investor outreach activities for the Structured Finance Ratings Group.

Prior to joining Standard & Poor’s, Conroy was an assistant vice president at Financial Security Assurance working with commercial revolving assets and commercial paper conduits and a commercial banker at Republic National Bank of New York.

Conroy holds a B.A. from Rollins College and an M.B.A. from Fordham University.

Panelist: Glenn Costello

Managing Director, Merrill Lynch

Glenn Costello is a Director in the Asset Backed Research Group, responsible for Real Estate ABS. He joined Merrill Lynch in July 2000. He has twice been named to the Institutional Investor All-America Fixed Income Research Team. Prior to joining Merrill Lynch, Costello spent ten years at Fitch where he analyzed and rated residential mortgage backed securities. From 1997 to 2000, he managed Fitch’s Residential Mortgage-Backed Securities ratings group, which rated all RMBS, Home Equity ABS and Manufactured Housing ABS. Costello authored several ratings criteria pieces and is a frequent speaker at industry events. Prior to joining Fitch, he spent four years at Goldman, Sachs.

Costello earned his B.S. from Tulane University.

Panelist: Ilona Crosswhite

Counsel, Hartford Financial Services Group, Inc.

Ilona Crosswhite is Counsel in the Investment Law Department of Hartford Financial Services Group, Inc. where her practice, while generally in support of investment professionals at The Hartford, is concentrated in the areas of asset-backed securitizations, private placements and workouts. She is a graduate of Goucher College and the University of Connecticut School of Law and serves as a Trustee of the American College of Investment Counsel.

Moderator & Panelist: Deborah A. Cunningham, CFA

Senior Vice President/Chief Investment Officer, Federated Investors

Click here for presentation materials: ABCP -- What’s New In The Money Market?.

Deborah A. Cunningham, CFA, is a Senior Vice President/Chief Investment Officer, Taxable Money Markets, and Senior Portfolio Manager, with additional responsibility for the Tax-Exempt Municipal Investment Group. Prior to that, she was the Head of Taxable Money Market Group, Performance Analysis Supervisor, Performance Analyst at Federated Investors.

Cunningham received a B.A. from Duquesne University and an M.B.A. from Robert Morris College. She is a director and former president of the Pittsburgh Society of Financial Analysts.

Panelist: Tom Cusick

Vice President, Banc of America Securities

Tom Cusick trades all consumer-related ABS as well as senior mortgage-related ABS. He has been with Banc of America Securities since 2002. Prior to Banc of America Securities, Cusick traded CMBS at Donald, Lufkin and Jenrette.

Cusick holds an M.B.A. from the University of Michigan Business School and a B.A. from Columbia University.

Panelist: Amy Crews Cutts

Deputy Chief Economist, Freddie Mac

Click here for presentation materials: Arguments Against The Existence of House Price Bubbles.

Amy Crews Cutts was appointed to the position deputy chief economist for Freddie Mac in January 2003. In this position, Cutts is responsible for primary and secondary mortgage market analysis and research, macroeconomic analysis and forecasting. She is also involved in the analysis of affordable lending activities, fair-housing policy and other policy issues affecting the housing industry.

Cutts joined the Office of the Chief Economist in April 2002 as a principal economist. Prior to that, she had served as principal economist in the Housing Economics and Financial Research Department at Freddie Mac since March 2001, and as a senior economist from March 1999. Cutts came to Freddie Mac in 1997 after serving as assistant professor of economics and senior researcher in the Maxwell School for Citizenship and Public Affairs at Syracuse University, where she did research on housing policy, income distribution and poverty, specializing in cross-national comparisons.

Cutts serves on the Board of Directors of the International Conservatory of Music and the Financial Advisory Board for the City of Washington, DC. She is a member of the American Real Estate and Urban Economics Association and the American Economics Association. She is a graduate of Trinity University in San Antonio, Texas and holds a Ph.D. in economics from the University of Virginia.

Click here for presentation materials: Investor Accounting Issues, FAS 133 (single slide).

C.J. De Santis is a Managing Director at Pentalpha Capital Group, a boutique structured finance consulting and financial advisory firm. Pentalpha Capital provides surveillance services, financial advisory and consulting, valuations, strategic planning, litigation support, loan sale advisory, best practices, and distressed debt workouts in all traditional, as well as, emerging Structured Finance assets. He is a senior securitization expert with over 20 years of Wall Street experience and contacts spanning a wide variety of finance companies, banks and industry participants.

Prior to joining Pentalpha, De Santis was a founding Partner and Managing Director of specialty finance company Polestar Capital Partners, a lender to landlords and tenants on their commercial leasehold improvements which utilized a proprietary (patent pending) securitization structure. Prior to joining Polestar, De Santis was a Managing Director at Merrill Lynch & Co. in the Global Structured Finance Group, responsible for securitization of Emerging Assets, Principal Transactions and Strategic Financings. Previously, he managed the Mortgage Finance and Federal Agency Finance areas at Merrill Lynch where he was responsible for the origination and execution of all mortgage-related structured finance products for residential and home equity mortgages. De Santis also managed the group that established Merrill Lynch’s commercial mortgage backed security conduit program. He has also been responsible for relationships and the execution of structured transactions with Federal Agencies. While at Merrill Lynch, De Santis was responsible for executing over 115 structured finance transactions with an outstanding principal balance in excess of $69 Billion.

De Santis received a B.A. in Economics (cum laude), MBA and JD from Vanderbilt University. He has been a member of the New York Bar since 1985, and holds his NASD Series 7 and Series 63 qualifications.

Panelist: Renee Deane

Executive Vice President, Ameriquest Mortgage Company

Renee Deane is executive vice president Investor Relations of Ameriquest Mortgage Company. She has more than 17 years’ experience at the company, holding various internal management positions including senior vice president of Operations.

Deane supports the Capital Markets group by overseeing Investor Relations credit and underwriting guidelines, and is responsible for all due diligence. In addition, she oversees operations and interfaces with all internal departments including Ameriquest Data Services and Loan Servicing.

Panelist: Thomas N. Denkler

Managing Director, AIG Global Investments Group

Thomas N. Denkler is responsible for managing the portfolio and new investment selection of Asset-Backed Securities in the Private Placements Group and is also a member of the credit committee for the Private Placement Group. He joined AIG in 1991. Previously, Denkler worked at Zilkha Energy Company and KPMG Peat Marwick.

Denkler received a bachelor’s business degree in Accounting from the University of Texas at Austin and an M.B.A. in Finance from the University of Houston. He is a Certified Public Accountant and holds NASD Series 7 and 63 licenses.

Panelist: Roger Desmarchelier

Head of Group Securitisation, St. George Bank Limited

Roger Desmarchelier has had considerable experience in the Australian banking and finance industries, through senior roles in corporate lending, structured finance and securitisation.

Since 1997, he has been responsible for the establishment, structuring and on going management of St George Bank’s securitisation programme, under the name of the Crusade Trusts. St. George Bank has securitised over A$20 billion of Australian MBS into the Australian, European and US markets and is currently the largest issuer of Australian mortgage backed securities into the offshore markets. Desmarchelier is an active member of the securitisation industry in Australia. He is currently Chairman of the Australian Securitisation Forum, the peak body representing the securitisation industry in Australia.

Panelist: John Devaney

Chief Executive Officer, United Capital Markets, Inc.

John Devaney is the President and Founder of United Capital Markets, Inc. (UCM), an institutional broker dealer. Through hard work and determination, Devaney has successfully established UCM as one of the most successful regional institutional subordinate ABS trading houses in the United States. In addition to serving as CEO, Devaney is also Head ABS Trader.

United Capital Markets is a secondary market maker specializing in trading and sales of structured finance products including ABS, CDO, CMBS and CMOs. UCM concentrates its trading in subordinated ABS bonds with ratings of "AA" to "C" in the following sectors: 125 LTV Home Equity, Home Improvement, Manufactured Housing, Equipment Lease, Franchise, Aircraft, Sub Prime Autos and Collateralized Bond Obligations.

Prior to founding UCM, Devaney spent several years gaining valuable experience as the head trader of a regional firm, trading both ABS and CMO securities. He is self-taught in the ABS markets, researching structure and collateral history as a necessity to risking capital. During a difficult period in the ABS market, Devaney saw that secondary liquidity and analysis was greatly needed, and capitalized on this opportunity in the market to establish UCM.

Beginning with limited capital, Devaney bid one bond at a time with the philosophy that every bond was one that the firm may own as a long-term investment. As many dealers stepped aside, investors soon came to recognize UCM as a knowledgeable and reliable source for much-needed liquidity in subordinate ABS product.

Devaney has handpicked talented and dynamic professionals as part of his continuing commitment to best serve the needs of his customers. UCM’s team of traders, analysts and sales specialists on both coasts have united in a corporate culture of teamwork, working toward the common goal of delivering superior customer service and satisfaction. He is also deeply committed to supporting charitable activities at the local and national level. UCM’s Community Reinvestment Program supports over thirty different non-profit organizations on an annual basis.

Devaney received a Bachelor of Arts Degree from Colorado State University with a double major in Business Finance & English.

Panelist: Peter A. DiMartino

Managing Director, RBS Greenwich Capital

Peter A. DiMartino is a managing director and Asset-Backed Securities and Mortgage Credit Strategist at RBS Greenwich Capital. In this role, DiMartino is responsible for developing opinions about mortgage and consumer credit fundamentals in addition to relative value in the ABS/MBS markets. He makes investment recommendations to RBS Greenwich Capital’s global institutional ABS/MBS customers. He also frequently publishes topical and relative value strategy reports about these markets.

Since 1990, DiMartino has studied nonagency mortgages as a researcher at Salomon Brothers. Throughout his career, he has examined residential mortgage and consumer credit fundamentals. His credits include the first research into "Alternative-A Mortgage", "B&C Mortgage", and "Reperforming Mortgage" financings.

In recent years, DiMartino has published fundamental and strategic analysis on home equity/subprime mortgage sectors, credit card, auto, and student loan ABS, and other niche sectors, in addition to ABS CDOs. Peter’s work is published throughout the financial press and securitization industry publications. Other honors include his repeated placements on Institutional Investor’s All-America Fixed-Income Research Team.

Prior to joining RBS Greenwich Capital, DiMartino worked for 14 years at Citigroup (formerly Salomon Brothers) and was a Director and head of the ABS and Mortgage Credit Research group. Before joining Salomon Brothers in 1988, he spent three years at Donaldson, Lufkin, & Jenrette in the institutional equity trading department.

DiMartino holds an M.B.A. in Finance from Wagner College.

Panelist: Paula Dubberly

Associate Director, SEC

Paula Dubberly is Associate Director (Legal) of the Division of Corporation Finance at the U.S. Securities and Exchange Commission. She oversees the Office of the Chief Counsel, the Office of Rule Making and the Office of Enforcement Liaison. Dubberly was Chief Counsel of the Division from 2000 to 2003. Prior to becoming Chief Counsel, she was an Assistant Director; registrants in her office included asset-backed issuers, investment banks, real estate investment trusts and internet companies. Prior to joining the Commission in 1992, she was an associate at Jones, Day, Reavis and Pogue.

Moderator: Rod Dubitsky

Managing Director, Credit Suisse First Boston

Rod Dubitsky is a Managing Director and Head of Asset Backed Securities Research at CSFB. Since joining Credit Suisse First Boston in April 2000, Dubitsky and his group has authored numerous special reports on mortgage and non-mortgage ABS topics including articles on franchise loans, student loans, credit cards, equipment leases, autos, Australian Mortgages, second liens and manufactured housing and NIMs. His group has also produced leading edge analytical work covering: second lien mortgage performance and models, subprime loss severity modeling, roll rate and payment velocity analysis and Home Equity available funds cap pricing. Dubitsky created a series of home equity indices (called HEAT, for Home Equity ABS Tracker) that tracks performance across several subsectors of the home equity market. His group is also responsible for a suite of monthly market-leading surveillance publications covering Manufactured Housing, Credit Cards, Autos and Subprime Home Equity. His group also pioneered Home Equity Trigger reporting In 2004, Dubitsky and his group was voted the #1 Mortgage-ABS strategist, #2 ABS Strategist and runner up in the Mortgage ABS Prepayments category in the Institutional Investor polls.

Prior to joining CSFB, Dubitsky worked at Moody’s Investors Service focusing on subprime mortgage transactions. In addition, he covered construction, tax lien, Net Interest Margin, resecuritization, Alt A and Latin American MBS transactions. While at Moody’s, he published articles on subprime underwriting, Latin American legal issues and subprime delinquent loan repurchases. Prior to joining Moody’s, Dubitsky worked on the buy-side with responsibilities that included agency and non-agency MBS, CMOs, interest-rate and mortgage derivatives, servicing hedging and corporate bonds.

Dubitsky holds an M.B.A. from Duke University.

Moderator: Kevin P. Duignan

Managing Director, Fitch Ratings

Kevin P. Duignan is a managing director and head of the Asset Backed Securities Group at Fitch Ratings. He is responsible for a group of over 50 professionals that rate both Term ABS transactions and Asset Backed Commercial Paper Conduits. Term ABS products include consumer and commercial assets such as credit card receivables, auto loans and leases, student loans, equipment loans and leases, aircraft leases, tobacco settlement revenues, stranded assets, timeshare loans, and new assets. The ABCP group is responsible for rating conduits ranging from single and multi-seller programs to cash flow and market value securities backed programs. Duignan’s responsibilities include managing the members of the various teams, developing criteria, research and commentary, and managing investor, issuer, and investment banker relationships.

Prior to joining Fitch Ratings in 1993, Duignan was a manager/credit analyst with Citibank’s treasury credit department and Citibank’s CitiMae conduit.

Duignan received a B.S. in management from Tulane University.

Panelist: Ron D’Vari, Ph.D., CFA

Managing Director, State Street Research & Management

Dr. Ron D’Vari is a Managing Director at State Street Research & Management and a senior member of its Fixed Income Leadership, heading the Specialty Products, MBS/ABS/CMBS and Quantitative Research teams. D’Vari has initiated and currently manages SSRM’s CDO program and all its CDO portfolios. As the Director of Fixed Income Research, D’Vari oversees SSRM’s fixed income research and is also responsible for managing Libor Plus and Portable Alpha mandates. D’Vari is an Adjunct Professor at International School of Business at Brandeis University. Prior to joining the firm in 1994, D’Vari has served as Adjunct Professor at the University of California at Los Angeles and the University of Southern California. D’Vari has presented at numerous academic and professional conferences on Quandamental® portfolio management, credit risk modeling, risk management, portfolio management, risk-controlled optimization, structured finance, and credit derivatives. D’Vari has numerous peer-reviewed publications on related topics in Journal of Fixed Income, Journal of Business and Economic Studies, AIAA Journal, and Journal of Aircraft. Ron D’Vari holds BS, MS, Ph.D. and MBA degrees from the University of California at Los Angeles and is a Chartered Financial Analyst. Dr. D’Vari holds Series 24, 7, and 63 licenses. For a complete list of publications and additional information, visit his personal website, www.rondvari.com.

Click here for presentation materials: Outline for Investor Relations With The Trustee.

Edward E. Gainor’s practice primarily involves securitization of financial assets and related matters. His experience includes securitization of single family residential, multifamily, and commercial mortgage loans; HELOCs; reverse mortgage loans; auto and recreational vehicle loans; boat loans; franchise loans; servicing advance receivables; dealer floorplan receivables; unguaranteed portions of SBA 7(a) loans; government obligations; and previously issued securities and other assets. He has represented issuers, underwriters, and investors in public offerings and private placements of securities backed by performing, subperforming, and nonperforming assets, domestic and foreign, utilizing REMIC, FASIT, REIT, master trust, owner trust, grantor trust, and other structures through U.S. and offshore issuing vehicles. His practice also includes servicing transfers, whole loan sales, financings, and related matters.

Before joining McKee Nelson, Gainor was a partner in the Washington, D.C. office of Brown & Wood LLP. He graduated with highest honors from the George Washington University Law School in 1990, where he was a Senior Editor of the George Washington Law Review and was named to the Order of the Coif. Gainor is a past chairman of the Derivatives and Securitization Committee of the District of Columbia Bar Association’s Corporation, Finance and Securities Law Section.

Gainor is a frequent speaker at industry conferences. Articles by Gainor have appeared in a variety of publications, including The Journal of Structured Finance, International Securitization & Structured Finance Report, Securitization News, Asset Securitization Report, and Compliance Reporter.

Panelist: John L. Gibson

Senior Manager, PricewaterhouseCoopers

John L. Gibson is a Senior Manager in the PricewaterhouseCoopers Structured Finance Group. He has 16 years of experience providing a range of consulting services to financial institutions, investment banks, private investors, developers and government agencies. Gibson’s expertise includes commercial finance, transaction management and support, capital markets execution, securitization and strategic planning. He has assisted companies in developing and executing financing strategies, including both debt and equity. Gibson’s clients include JP Morgan Chase, Bank of America, Credit Suisse First Boston, Lehman Brothers, Deutsche Bank, Capital One, Franklin Resources, CDC, Cendant and CIT among others.

Before joining PricewaterhouseCoopers, Gibson was a Portfolio Manager for National Loan Funding where he managed various engagements, including contracts with the Resolution Trust Corporation and Federal Deposit Insurance Corporation on $500 million non-performing commercial loans and real estate assets in receivership.

Gibson is a graduate of Georgia State University where he earned his degree in finance. He is also an active member of the American Securitization Forum and a frequent lecturer at industry conferences.

Speaker: Thomas G. Gillis

Managing Director, Standard & Poor’s

Click here for presentation materials: Agenda, CARAT, CIT, Fleet Bank CCMT, Household Affinity, Imperial Savings, MTTC, Things Investors Should Know.

Thomas G. Gillis is a managing director and the chief quality officer in Structured Finance Ratings. He is responsible for rating quality, rating criteria, research and training for the Structured Finance Ratings group. The Structured Finance group encompasses Asset Backed Securities, Collateralized Debt Obligations, Real Estate Finance, and Residential Mortgages.

Gillis began his career in 1975 and held various positions prior to heading the Residential Ratings group from 1986 to 1993. In 1993, he became responsible for criteria development for the Structured Finance Group. In addition, Gillis is a member of Standard & Poor’s Analytic Policy Board. The Analytic Policy Board oversees all of Standard & Poor’s debt Rating policies, as well as key ratings and/or rating changes.

Gillis holds B.A. in Finance from Pace University.

Panelist: Thomas Glanfield

Partner, Ernst & Young LLP

Thomas Glanfield is a Partner in the SFAS New York office, specializing in firm’s securitization activities with issuers, investors, underwriters, and credit enhancers. He has over 25 years experience in financial services with concentration in the consumer financing industries and possesses strong functional knowledge in structuring, risk management, operations and data management.

Prior to joining E&Y, Glanfield directed PricewaterhouseCoopers’ securitization business in Arlington, VA. Before PwC, he established Canadian Imperial Bank’s (CIBC) securitization group. Under his leadership, CIBC became recognized as a leader in securitization business working closely with issuers, investors and rating agencies. In other key roles, he was Executive Vice President at National Bancard Corporation where he helped the company grow into the industry leader with over $1 billion in revenue as head of marketing, sales, acquisitions and product development. While at Citigroup, he was the securitization specialist to the auto, electronics and consumer finance industries, responsible for business development and developing transaction structures to meet specific client needs such as capital formation, collateral optimization needs, and accounting and tax requirements.

Glanfield received his M.B.A. in Marketing and Finance and his B.A. in Finance both from Rutgers Graduate School of Management, Newark, NJ.

Moderator: Stephen C. Glazier

Partner, Kirkpatrick & Lockhart Nicholson Graham LLP

Click here for presentation materials: Securitization Patents and Intellectual Property Issues.

Stephen C. Glazier is a partner in the law firm of Kirkpatrick & Lockhart Nicholson Graham LLP, and is head of the Washington Patent Group of that firm. He practices law in Washington, D.C., regarding patents, intellectual property, patent due diligence for mergers and acquisitions, patent demand letters and litigation, technology transactions, venture capital, licensing, the monetization of intellectual property, and related business transactions for technology companies. Glazier holds six U.S. patents, in which he invents around prior art patents, for clients. Glazier is the author of three books: (1) Patent Strategies for Business, (2) e-Patent Strategies, and (3) Technology Deals. He lectures frequently on legal and business topics, and has appeared on C-Span and other television broadcasts. He is a contributor on legal subjects to the editorial pages of The Wall Street Journal and other publications.

Glazier has a B.S. and an M.S. from the Massachusetts Institute of Technology, and a J.D. from the University of Texas. He is a member of the bar in New York, California, Texas, and the District of Columbia, and he is a registered patent attorney with the U.S. Patent and Trademark Office.

Panelist: Cheryl L. Glory

Managing Director, Fitch Ratings

Cheryl L. Glory is managing director in Fitch Ratings’ residential mortgage structured finance group. She manages the residential mortgage-backed securities rating process, including credit analysis, investor & issuer relations, and research for prime jumbo, Alt A, and prime quality home equity mortgage securitizations.

Prior to joining Fitch in 1997, Glory was an assistant vice president at PaineWebber Inc.’s capital market credit group. She was responsible for risk management of the company’s mortgage funding business, integration of the credit process across business lines, and counterparty site visits. Earlier, Glory was a senior credit analyst with PaineWebber, where she monitored the company’s risks and exposures associated with trading activities.

Glory received a B.S. in finance from Seton Hall University's W. Paul Stillman School of Business.

Speaker: Myron Glucksman

formerly Managing Director, Citigroup

Click here for presentation materials: Introduction to Policy Issues.

Myron Glucksman, formerly Managing Director in Citigroup’s Corporate and Investment Bank, has over 33 years of transaction and legal experience at Citigroup’s Global Securitization and its other corporate and consumer units. He provides independent expert advice to Boards of Directors and Audit Committees on matters relating to off balance sheet entities. He also advises banks, law firms, corporations and investors assessing legal, rating agency, regulatory, accounting and structural issues related to off balance sheet entities and asset-backed securities. Recent engagements include being a consulting and expert witness to Simpson Thacher & Bartlett on securitization litigation matters, a consultant to Citibank and advising Lazard Freres on certain structured finance investments for a private fund.

Glucksman has worked closely with all three rating agencies and has achieved ratings on some of the most difficult and highly complex off balance sheet transactions as well as commercial paper conduit restructurings. He has closed numerous complex transactions including some involving sureties and multi-line insurance companies providing credit enhancement to support such transactions.

Glucksman received a Master of Laws in Corporation Law from New York University, a Doctor of Laws from Fordham University, a Master of Business Administration, with distinction, in Finance from New York University and a Bachelor of Science in Engineering from Columbia University.

Glucksman has presented to the U. S. Senate Subcommittee on Securities on securitization matters relating to proposed SEC changes to securities laws in 1992 and was a speaker on Current Financial Reporting Issues in Securitization at the Financial Executives Institute in 1997.

In June, 2003, Glucksman spoke on audit committee issues, including mitigating risks from derivative and structured transactions, at an all day Conference Board Director’s Institute program. He was a moderator on Financial Innovations and the Welfare of Nations at a Conference organized by the Fletcher School of Law and Diplomacy in 1999. He also has been a guest speaker on Securitization at Yale Law School, Columbia Law School, M.I.T. Sloan School of Management and Fletcher School of Law & Diplomacy as well as at various industry conferences.

Glucksman is a Trustee of the Board, Chair of the Audit Committee and member of the Investment and Finance Committee, of The Graduate Center Foundation Inc., an affiliate of the Graduate Center of The City University of New York. He is also a member of the National Association of Corporate Directors and of the American Securitization Forum, co-chairing its 2004 Securitization Institute program at the ASF’s annual Summit, and speaking on "The Enron Case: A Study of Failures and Lessons." Glucksman is also a Director and Financial Secretary of the Suffolk Association for Jewish Educational Services (SAJES), an agency of the UJA-Federation of N.Y. and co-chaired the 2004 SAJES Conference on Prejudice Reduction.

Glucksman is a member of the Bars of New York, New Jersey and the District of Columbia and admitted to practice before the Supreme Court of the United States.

Panelist: Stuart N. Goldstein

Partner, Cadwalader, Wickersham & Taft LLP

Stuart N. Goldstein is a partner in the Capital Markets Department, resident in Cadwalader’s Charlotte and New York offices. His practice is concentrated in the areas of structured finance, structured products and the federal securities laws.

Goldstein practices primarily in the areas of asset securitization, representing issuers, underwriters, collateral managers and institutional investors, in both public and private transactions. He has extensive experience in analyzing and structuring asset and mortgage backed securities, collateralized debt obligations and other instruments and products, as well as structuring transactions involving interest rate swaps, caps, floors and other derivative instruments. Goldstein is a member of the CMBS group and the CDO group at Cadwalader.

Goldstein also represents clients in the purchase and sale of commercial and multifamily mortgage loans, mezzanine debt, subordinate debt and residential first and second mortgage loans (including FHA, V A, conventional and manufactured housing) in whole loan and participation structures. In addition, he has extensive experience in secured lending and represents lenders in structuring and negotiating finance facilities.

Goldstein received a B.S. from Cornell University and his J.D. from Boalt Hall School of Law at the University of California at Berkeley. He is admitted to practice in the States of New York and California and is a member of the American Bar Association and the New York State Bar Association.

Panelist: James R. Grady, CFA

Director, Deutsche Bank AG

James R. Grady is a portfolio manager for Specialty Fixed Income Enhanced Strategies & Mutual Funds Group specializing in structured finance securities. He joined Deutsche Bank in 2001 after seven years experience, most recently as director and senior rating analyst in the asset-backed securities group at Fitch, Inc. covering credit card, auto, stranded cost and tobacco-related securitizations.

Grady received a B.A. from Ithaca College.

Panelist: Patrick Green

Manager, Structured Finance, Wells Fargo Home Mortgage

Patrick Greene is responsible for the Structured Finance group at Wells Fargo Home Mortgage. In this position, he manages the due diligence, issuance and settlement of all Wells Fargo Home Mortgage private label mortgage-backed securitization and whole loan sales.

Greene joined the mortgage industry in 1990 after serving for approximately eight years as an F-14 Radar Intercept Officer and flight instructor in the United States Navy.

Greene is a graduate of the United States Naval Academy and earned an M.B.A. from Loyola College in Baltimore, MD.

Click here for presentation materials: Manufactured Housing Update.

Thomas Y. Hiner’s practice focuses on representation of issuers, investment banks and credit enhancement providers in connection with securitization of financial assets; secured and unsecured lending and borrowing; venture capital financing; mergers and acquisitions; public and private equity and debt offerings and placements.

Hiner is a member of the Virginia State Bar and the American Bar Association. Hereceived his J.D. with honors from Duke University School of Law and his B.A., University of Virginia, English, with high distinction, 1986. He is a member of Phi Beta Kappa.

Moderator: Joel C. Horne

President and Portfolio Manager, Merrill Lynch Utah Investment Corporation

Click here for presentation materials: ABS Syndicate Practices.

Joel C. Horne currently manages a multi-billion dollar ABS/MBS investment portfolio for Merrill Lynch Utah Investment Corporation, a wholly-owned subsidiary of Merrill Lynch Bank USA. Prior to joining Merrill Lynch, Horne spent 13 years as an investment banker, most recently as a Managing Director at Deutsche Bank Securities in New York. Prior to Deutsche Bank, Horne spent 8 years with Goldman, Sachs & Co. in New York and Tokyo.

Horne earned a B.A. from Weber State University and an M.B.A. from the University of Chicago.

Panelist: Frederick H. Horton

Managing Director, Trust Company of the West

Prior to joining TCW in 1993, Frederick H. Horton was Director of Mortgage Investments and Senior Portfolio Manager for Dewey Square Investors. Before Dewey, Horton was Head of Mortgage Strategies and Senior Portfolio Manager for Putnam Companies. Before joining Putnam, Horton headed the Mortgage-Backed Portfolio Strategies Group at Drexel Burnham Lambert in New York. Prior to Drexel, he held portfolio management positions at Chase Investors Management in New York and at State Street Bank in Boston.

Horton holds a B.A. from Brown University and an M.B.A. in Finance from Boston University.

Panelist: John A. Hupalo

Executive Vice President, First Marblehead Corporation

John A. Hupalo joined First Marblehead Corporation in March 2003. He is responsible for First Marblehead’s Capital Markets activities including funding loans purchased by the firm’s securitization trusts, risk management, new product pricing and the firm’s trust administration work. Previously, he was a Managing Director in the Education Loan Group at UBS and had worked in the student loan finance groups at Salomon Smith Barney and Manufacturers Hanover Securities Corporation.

Throughout his 16-year investment-banking career, Hupalo focused exclusively on student loan finance and has been involved in approximately $30 billion of student loan financings. He served as lead banker and senior advisor to student loan issuers of T-Bill and LIBOR floating rate notes, taxable and tax-exempt fixed rate notes, auction rate notes and derivative products in myriad securitization structures. He was the first to structure a Net Interest Margin financing for a student loan issuer. In addition, he has developed numerous private loan programs, supervised advisory teams for portfolio and whole-company sales and worked closely with student loan companies on strategic planning.

Prior to entering investment banking, Hupalo worked on the Washington staff of a Member of Congress and for the National Association of Manufacturers.

Hupalo served as a Trustee of the Bronxville Union Free School District and a member of the Board of Directors for The Community Fund of Bronxville, Eastchester and Tuckahoe.

Hupalo received his B.A. with Honors from Boston University and an MBA in Finance from New York University’s Stern School of Business.

Click here for presentation materials: SEC’s Regulation AB.

Stephen S. Kudenholdt serves as Chair of Thacher Proffitt’s Structured Finance Practice Group. His areas of practice include residential and commercial mortgage-backed securities, and other asset-related securities, primarily focusing on residential mortgage loan securitization as well as resecuritization transactions involving various classes of mortgage-backed securities. Kudenholdt has helped develop many transaction structures and formats that have become industry standards, including shifting interest subordination techniques. He represents issuers, underwriters, loan sellers and other entities in public offerings and private placements. Recently, Kudenholdt served as counsel to the Bond Market Association and prepared their letter to the SEC regarding new regulations proposed for asset-backed securities.

Kudenholdt has been named in the "New York Capital Markets" section of The World’s Leading Lawyers 2002-2003, published by Chambers Global. The Chambers Global ranking is a peer review publication.

Kudenholdt received a B.A. from the University of Illinois and a J.D. cum laude from the University of Michigan Law School

Panelist: C. Thomas Kunz

Partner, Skadden, Arps, Slate, Meagher &Flom LLP

C. Thomas Kunz has been a partner at Skadden, Arps, Slate, Meagher & Flom LLP since 1987. He is the head of the firm’s Structured Finance Department and is based in the New York office. In his position, he represents issuers, underwriters, credit enhancers and other financial intermediaries in all aspects of asset securitization.

Kunz received a B.A. from Colgate University and his J.d. from Cornell University Law School.

Panelist: Jennifer Kuritz

Senior Manager, Nissan North America, Inc.

Jennifer Kuritz is Senior Manager, Funding for Nissan North America, Inc. and is responsible for analysis, structuring, negotiation and servicing of ABS for Nissan Motor Acceptance Corporation and unsecured debt programs. Kuritz joined NMAC in 1996 as a Treasury Specialist.

Prior to NMAC and immediately after graduate school, Kuritz was a federal bank examiner with the Office of Thrift Supervision and the Federal Reserve Bank. During her ten years as an examiner, she completed commercial and compliance examinations throughout the western region.

Kuritz earned a Bachelor’s degree in Journalism from California State University, Chico and an MBA from the University of San Francisco.

Click here for presentation materials: General Session: Bringing It All Together - The Securitization Process.

Renwick D. Martin is a partner at the law firm of Sidley Austin Brown & Wood LLP, where he joined the firm in 1972. Since 1984, Mr. Martin has concentrated on mortgage-backed and asset-backed financings of all types.

Panelist: Ronald D. Mass

Portfolio Manager/Research Analyst, Western Asset Management Company

Ronald D. Mass is Portfolio Manager and Research Analyst for Western Asset Management Company, a position he has held since 1991. Prior to that, he was a Research Associate for four years with The First Boston Corporation.

Mass received his B.A. from the University of California in Los Angeles. He is a Chartered Financial Analyst.

Panelist: Diane R. Maurice

Principal, State Street Global Advisors

Diane R. Maurice is a Principal of State Street Global Advisors and serves as a Senior Credit Analyst for the Fixed Income Team. She oversees co-credit analysis for cash and stable value portfolio management groups covering term asset backed securities and asset backed commercial paper.

Prior to joining SSgA in June 2004, Maurice worked at Moody’s Investor Services as a vice president in the structured finance group. In that role, she provided rating recommendations and researched credit trends. Maurice has over a decade of banking experience having served as a portfolio and relationship manager at ABN AMRO and Generale (Fortis). Maurice also held positions at Standard and Poor’s in New York and London in mortgage finance.

Maurice receiv