Kevin G.Chavers, Managing Director, is a member of BlackRock's Financial Markets Advisory Group within BlackRock Solutions. Mr. Chavers has extensive experience focused on the mortgage capital markets and housing policy in both the public and private sectors. He provides advisory services focusing on housing and mortgage finance to clients and serves as BlackRock's senior coverage officer for the principal federal housing and mortgage related entities. Prior to joining BlackRock in 2011, Mr. Chavers was a Managing Director at Morgan Stanley, where he served as a senior relationship manager with coverage responsibilities for federal government and government related clients. He previously headed the global mortgage operating businesses of Morgan Stanley and led their strategic repositioning. He also led strategy, execution and banking for the mortgage principal finance team within the Securitized Products Group. Prior to joining Morgan Stanley, he was a vice president in the Mortgage Securities Department at Goldman Sachs & Co. Mr. Chavers served as the President of Ginnie Mae in the Clinton Administration. He also formerly served as Majority Staff Counsel to the United States Senate Committee on Banking, Housing and Urban Affairs. He began his career in the corporate real estate group at the law firm of Milbank, Tweed Hadley and McCloy in New York. Mr. Chavers is a graduate of Harvard Law School (1987) and earned a Bachelors in City Planning from the University Of Virginia School Of Architecture (1984). Mr. Chavers currently serves on the boards of directors of the Bedford Stuyvesant Restoration Corporation, the Architectural League of New York, the Friends of Education of the Museum of Modern Art, the University of Virginia School of Architectural Foundation and the Ridley Scholarship Fund at the University of Virginia. He is a former member of the boards of the Municipal Arts Society and the Appleseed Foundation. Mr. Chavers is a native of Philadelphia, Pennsylvania.
Consumer finance executive with leadership expertise in the mortgage lending process, with a focus in business development, capital markets, strategic planning, and change management. Successfully led multi-disciplinary sales teams in the management of national lenders (top 10) and developing a national account base among community banks and credit unions. Proven ability to build strategic partnerships among sales, operations and executive management to define and drive near term tactical and long term strategic initiatives. Rigorous analytical academic foundation including an MBA in Real Estate and Finance.
MARC DICOSIMO, CFA is a Vice President of SSgA and a Senior Portfolio Manager in the Fixed Income, Currency and Cash investments team. He joined SSgA in 2013.
As Senior Vice President of Ginnie Mae’s Office of Issuer and Portfolio Management, Michael Drayne is responsible for the management of Ginnie Mae’s relationships with the mortgage lenders who issue securities under the Ginnie Mae mortgage-backed securities program. In this capacity he oversees the Single Family and Multi-family Program Divisions, as well as the Monitoring & Asset Management Division, the latter of which is responsible for the oversight of the Ginnie Mae servicing assets owned by issuers or Ginnie Mae itself.
A 25-year veteran of the housing finance industry, Mr. Drayne began his career at Chevy Chase Bank, where he served as Vice President and Director of Secondary Marketing. In addition, he was responsible for managing several other operational units for the bank’s nationwide mortgage lending subsidiary. He has also held management positions with the residential lending divisions of two other banks. At one of these banks, he co-founded a reverse mortgage lending unit.
Mr. Drayne has spoken at numerous industry conferences about the U. S. secondary mortgage markets, and in particular the evolution of the post-crisis housing finance industry and its relation to government-insured lending and the capital markets.
Mr. Drayne has a Bachelor of Science Degree in Business Administration and a Master’s Degree in Public Management, both from the University of Maryland. He resides in Washington, D.C.
Mr. Dubeck is a 28 year veteran in the finance industry specializing in capital commitment and risk management for residential and commercial real estate assets. Mr. Dubeck directly oversees all activities of Planet Financial Group, LLC.
John joined Ginnie Mae as the Senior Vice President of the Office of Capital Markets in July 2012, bringing with him 35 years of experience at financial institutions with a focus on mortgage-backed securities and the capital markets. In his current role, he is responsible for overseeing the performance and execution of Ginnie Maeâ€™s multiclass securities program, which allows the private sector to combine and restructure cash flows from Ginnie Mae MBS into securities that meet unique investor needs. Multiclass securities programs include Single-Family, Multifamily, and Reverse Mortgage REMICs, Stripped MBS, Callable Securities, and Platinum Certificates. Ginnie Mae multiclass securities help increase the liquidity of Ginnie Mae MBS and attract new sources of capital for federally insured or guaranteed loans. Prior to joining Ginnie Mae, John was the Chief Operating Officer at Ally Securities, a subsidiary of Ally Financial, Inc., where his areas of responsibility included operational management, banking & structured transactions, and portfolio transactions. John earned his Bachelor of Science degree from the University of Maryland, Robert H. Smith School of Business, and his MBA in Finance from George Washington University, School of Business; and, holds several securities licenses.
Michael Lau, currently CEO of Pingora Asset Management, has over 25 years of expertise in loan servicing, underwriting, quality control, IT, accounting, finance, capital markets, and business development. Throughout his career, Michael’s understanding of MSRs aided numerous companies through negotiating the sale of servicing rights on a flow and bulk basis.
Prior to Pingora, Michael spent 12 years on the senior management team at Phoenix Capital, a leading firm managing the sales and valuation of mortgage servicing rights. His management of new business development, as well as existing client bases, mergers and acquisition, whole loan brokerage, and strategic planning helped to significantly expand the firm.
In the six years prior to joining Phoenix, he was Executive Vice President and Chief Operating Officer at First Colorado Mortgage Corporation, an independent mortgage banker. He directed its expansion of secondary marketing, underwriting, information systems, and accounting, and was instrumental in the acquisition of four independent mortgage companies, taking the company from a $350-million a-year retail lender to a $2 billion-a-year full-service mortgage banker.
Michael began his career with Criterion Financial Corporation, a dynamic independent full-service mortgage company, working first in loan servicing and then secondary marketing. Subsequently he held positions at Spies Homes and Benchmark Mortgage (1989-1991) and Rocky Mountain National Bank (1991-1993).
Michael has a B.S. in accounting from Gonzaga University and is a Certified Public Accountant and Certified Mortgage Banker.
Robert is EVP of Servicing at Stonegate Mortgage Corporation, one of the nation’s largest independently-owned mortgage lenders and servicers. Before joining Stonegate in Spring 2013, Robert worked at Homeward Residential where he served as Senior Vice President, Subservicing and Special Servicing. He was responsible for Homeward's fee-based servicing, which included sub and special servicing as well as business development.
Prior to working at Homeward Residential, Robert worked at Saxon Mortgage as Executive Director. He managed the operational credit risk of Saxon's $37 billion servicing portfolio where he developed the business strategy and provided key leadership for the turnaround of Saxon's servicing platform. He also served as Managing Director and Senior Vice President of Servicing and Consumer Originations at GMAC-Rescap Homecomings, where he led the management of over $100 billion in mortgage servicing. Robert graduated from Southern Methodist University in Dallas, TX.
Edward Mills is a research analyst and vice president, covering financial policy at FBR Capital Markets & Co. (FBRC). Prior to joining FBRC, Mr. Mills spent nine years on Capitol Hill working in both the House of Representatives and the Senate. Most recently, he served as senior policy advisor for banking and finance for the U.S. Senate Committee on Small Business and Entrepreneurship, chaired by Senator Mary L. Landrieu of Louisiana. During his time with the House of Representatives, Mr. Mills worked as a policy advisor for financial service issues for Congresswoman Carolyn B. Maloney of New York, a professional staff member for the House Financial Services Subcommittee on Financial Institutions and Consumer Credit, and a staff assistant for Congressman John F. Tierney of Massachusetts. While on the Hill, Mr. Mills helped to enact the following legislation: (1) the Credit C.A.R.D. Act (Public Law 111-24), which bans practices that were determined to be unfair, deceptive, or anti-competitive; (2) the National Security Foreign Investment Reform and Strengthened Transparency Act of 2007 (Public Law 110-24), which strengthened and reformed the process that reviews foreign direct investment for national security issues; and (3) the National Intelligence Reform Act (Public Law 108-458), which implemented many of the recommendations of the 9/11 Commission. He also worked on developing legislation related to overdraft fees, as well as on legislation to expand job creation and access to capital for small businesses. Mr. Mills is a native of Hull, Massachusetts, and a graduate of Boston College.
Prior to joining Washington Research Group, Mr. Seiberg spent more than a decade following Washington policy developments as the Washington bureau chief and assistant managing editor of The Deal and The Daily Deal and as the deputy bureau chief for the American Banker. Mr. Seiberg speaks frequently to industry groups, including the Consumer Bankers Association, the American Bankers Association, the Mortgage Bankers Association, SIFMA, the National Association of Realtors, the Risk Management Association and the National Association of Home Builders. He also had addressed forums sponsored by regulators, including the Federal Housing Finance Agency, the Federal Reserve Bank of Kansas City, the Conference of State Bank Supervisors, the Office of Thrift Supervision, and the Council of Federal Home Loan Banks. And he has briefed bank management teams, Congress, and congressional staff. He has appeared on CNBC, ABC News, CNN, Fox Business, and Fox News and is frequently quoted in the Wall Street Journal, New York Times, Washington Post and American Banker. He has a B.A. from American University in Washington, D.C., and an M.B.A. from the University of Maryland at College Park.
Theodore W. Tozer was sworn in as President of Ginnie Mae on February 24, 2010, bringing with him more than 30 years of experience in the mortgage, banking, and securities industries. As President of Ginnie Mae, Mr. Tozer operates a multi-billion dollar corporation, administer the mortgage-backed securities program, and oversee enterprise-wide risk management initiatives including capital market activity.
Prior to his appointment as President, Mr. Tozer served as Senior Vice President of Capital Markets at the National City Mortgage Company (NCM) for over 20 years. There, his responsibilities included pipeline hedging, pricing, loan sales, loan delivery, and credit guideline exceptions. While at NCM, the company’s annual loan sales grew from $1 billion in 1989 to $106 billion in 2003. During his tenure, NCM never experienced a loss.
Previously, Mr. Tozer served as Vice President and Investment Operations Manager at the BancOhio National Bank from 1979 to 1986. In this capacity, he was responsible for all operational support functions of the bank's bond portfolio and securities dealer. From 1986 to 1989, he was Vice President and Chief Financial Officer of BancOhio Mortgage Company - which later became National City Mortgage - where he was in charge of overseeing loan delivery, pipeline hedging, pricing, corporate accounting, servicing investor reporting, and product development. In this role, Mr. Tozer was instrumental in transforming National City from an "originate and hold" lender to an "originate and sell" lender. In 1988, under his leadership, BancOhio Mortgage originated about $200 million in residential mortgages eligible for sale in the secondary market.
Mr. Tozer has also served as a charter member of Fannie Mae’s National Lender Advisory Board since 2008. Since 2002, Tozer has been a member of Freddie Mac’s National Lender Advisory Board. From 2002 to 2004, he was Chairman of the Capital Markets committee of the Mortgage Bankers Association of America (MBA). While Chairman, Mr. Tozer successfully worked with Ginnie Mae to change the structure of the Ginnie Mae II security. He also significantly influenced MBA’s decision to advocate for the Federal Home Loan Banks, as an effective alternative to Fannie Mae and Freddie Mac. Mr. Tozer also served as a member of the MBA’s Board of Governors from 2002 to 2004, as trustee of the Ohio Mortgage Bankers Association from 1999 to 2001, and as part of the Fannie Mae Midwest Secondary Advisory Group from 1994 to 1999.
Mr. Tozer received his Bachelor of Science Degree in Accounting and Finance from Indiana University. He became a Certified Public Accountant in 1980 and a Certified Management Accountant in 1984.
Christopher is an investment banker and author who lives in New York City. He is Senior Managing Director and Head of Research at Kroll Bond Rating Agency, where he is responsible for financial institutions, corporate and sovereign ratings. Over the past three decades, he has worked for financial firms such as Bear, Stearns & Co., Prudential Securities, Tangent Capital Partners and Carrington. He was a cofounder and principal of Institutional Risk Analytics from 2003 through 2013. Christopher is the author of the December 2010 book, "Inflated: How Money and Debt Built the American Dream," now in a second printing from John Wiley & Sons. He is co-author with Frederick Feldkamp of the 2014 book “Financial Stability: Fraud, Confidence & the Wealth of Nations” published by John Wiley & Sons. Christopher is a member of the advisory boards of Weiss Residential Research in Natick, MA. He previously served as a fellow of Networks Financial Institute at Indiana State University (2008-2014). Christopher is a member of the Finance Department Advisory Council at the Villanova School of Business and a member of the Economic Advisory Committee of the Financial Industry Regulatory Authority (FINRA). Christopher is a member of the National Association of Business Economists. He is a member of Professional Risk Managers International Association (www.prmia.org) and was regional director of PRMIA’s Washington DC chapter from 2006 through January 2010. Christopher contributes articles to Zero Hedge, American Banker, Housing Wire and The National Interest. Christopher has testified before Congress, the Securities and Exchange Commission and Federal Deposit Insurance Corporation on a range of financial, economic and political issues. He appears regularly in such media outlets as CNBC, Bloomberg, Fox News and Business News Network. He is active in social media under the Twitter handle “rcwhalen”. Christopher has a conversational command of Spanish. A partial listing of his speeches, articles and interviews is available online at www.rcwhalen.com.