Moody's will host a monthly webinar to discuss the impact of COVID-19 on the US Housing & Housing Finance sector.
On Monday, July 20 we host a webinar to discuss the US mortgage servicing landscape and impact of borrowers’ relief efforts on US RMBS. This was a 90 minute session with two panel discussions.


Agenda:

Pane I: 1:30 PM ET
The coronavirus has provided a shock to non-bank residential mortgage companies. The onset of the crisis in March brought on a host of liquidity and operational challenges. Over the last several months, the drop in rates has brought record origination volumes for many non-bank mortgage companies. However, over the next several quarters servicers will face a large increase in its servicer advance obligations because of the establishment of borrower-forbearance arrangements and rising delinquencies.

Topics included:
  • General mortgage landscape during COVID-19
  • Non-Bank mortgage companies’ financial strength
  • Current operational challenges
  • Overview of forbearance arrangements
Speakers:
  • Warren Kornfeld, Senior Vice President, Financial Institutions, Moody's Investors Service(Moderator)
  • Bill Fricke, Vice President-Sr Credit Officer, Structured Finance, Moody's Investors Service
  • Jack Navarro, President, Shellpoint Mortgage Servicing
  • Ted Tozer, Senior Fellow, Housing Finance Program, Center for Financial Markets, Milken Institute

Pane II: 2:10 PM ET
Performance of RMBS is highly dependent on servicer procedures. The unprecedented spike in the unemployment rate due to the coronavirus outbreak has weakened loan performance. In this session, we will discuss:

Topics included:
  • Borrower assistance programs offered by servicers such as forbearance and payment deferrals
  • Non-Bank mortgage companies’ financial strength
  • Reporting of loss mitigations strategies
  • Credit impact to RMBS
Speakers:
  • Ola Hannoun-Costa, Senior Vice President, Structured Finance, Moody's Investors Service(Moderator)
  • Karandeep Bains, Vice President-Sr Credit Officer, Structured Finance, Moody's Investors Service
  • Randhir Gandhi, President & Chief Executive Officer, SPS
  • Michele Olds, Senior Vice President, Nationstar Mortgage
  • Padma Rajagopal, Vice President-Sr Analyst, Structured Finance, Moody's Investors Service

Following the commencement of TRIM in 2016, there are has been a multi phased approach to the ECB’s TRIM exercise. As we are gearing up for a year of further TRIM exercises and transitioning to review of wholesale and low default portfolios, Moody’s would like to host this webinar to provide:

  1. Further insight to the challenges in the market thus far
  2. The common themes across Europe
  3. Remediation and best practice approaches

Following the commencement of TRIM in 2016, there are has been a multi phased approach to the ECB’s TRIM exercise. As we are gearing up for a year of further TRIM exercises and transitioning to review of wholesale and low default portfolios, Moody’s would like to host this webinar to provide:

  1. Further insight to the challenges in the market thus far
  2. The common themes across Europe
  3. Remediation and best practice approaches

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