MBA s Accounting, tax and

Transcription

1 MBA s Accounting, tax and financial management CONFERENCE November 17 19, 2010 New Orleans, la Register by October 18 to Save

2 MBA s Accounting, tax and financial MAnagement CONFERENCE 2010 Make plans to attend MBA s Accounting, Tax and Financial Management Conference 2010, November in New Orleans. This comprehensive event offers a unique venue for mortgage finance professionals to share perspectives on the proper implementation of accounting and tax rules as well as prudent financial management practices. This conference provides an in-depth, valuable opportunity for chief financial officers, financial analysts, controllers, internal and independent auditors, accounting policy managers, tax managers and legal counsel to get up to speed on the latest developments in accounting, tax and finance policies as they relate to the mortgage industry. WHO SHOULD ATTEND Chief financial officers, financial analysts, controllers, internal and independent auditors, accounting policy managers, tax managers, attorneys and legal counsel and accounting/tax compliance officers with both residential and commercial interests. CPE Learning Objectives Apply current and proposed accounting principles and revisions to mortgage banking companies, including financial instruments projects of FASB and IASB, convergence of fair value accounting and accounting for credit losses. Compare and contrast approaches to financial management, including strategic planning, MSR valuation, company valuation and M & A strategies, peer group measurement and counter-party risk management. Ascertain the major mortgage-related provisions of the Wall Street Reform and Consumer Protection Act and other legislation and relate them to mortgage business requirements. Summarize the latest tax developments in mortgage banking, including deductibility of mortgage interest, property taxes and MI premiums, the increase in tax on carried interest and changes in REMIC rules. MBA THANKS ITS SPONSORS Silver Sponsors confirmed as of July 20, 2010.

3 PRELIMINARY AgendA Schedule subject to change. Wednesday, November 17 11:30 a.m. 12:30 p.m. Financial Management Committee Meeting (for MBA members only) Nn 5:30 p.m. Conference Registration Nn 6:30 p.m. Exhibit Hall Open 1:30 p.m. 2:45 p.m. Welcome and Opening The Current State of the Industry 2:45 p.m. 3:00 p.m. 3:00 p.m. 3:45 p.m. Single Family Mortgage Company Financial Performance and Strategies Commercial Mortgage Market Developments 3:45 p.m. 4:00 p.m. 4:00 p.m. 5:00 p.m. The New Regulatory Landscape 5:30 p.m. 6:30 p.m. Welcome Reception in the Exhibit Hall Thursday, November 18 7:30 a.m. 5:00 p.m. Conference Registration 7:30 a.m. 4:00 p.m. Exhibit Hall Open 7:30 a.m. 8:00 a.m. Continental Breakfast in the Exhibit Hall 8:00 a.m. 9:15 a.m. FASB / SEC Update 9:15 a.m. 9:30 a.m. Coffee Break in the Exhibit Hall 9:30 a.m. 10:45 a.m. Financial Instruments Project 10:45 a.m. 11:00 a.m. Nn 1:30 p.m. Luncheon 1:30 p.m. 2:30 p.m. FAS 166/167: Accounting for Securitizations Compensation Planning 2:30 p.m. 2:45 p.m. 2:45 p.m. 3:45 p.m. Retained Servicing and MSR Valuation Reg AB Changes 3:45 p.m. 4:00 p.m. 4:00 p.m. 5:00 p.m. Accounting for Credit Losses Company Valuation and Acquisition Analysis Friday, November 19 7:30 a.m. 8:00 a.m. Continental Breakfast in the Exhibit Hall 7:30 a.m. 10:30 a.m. Conference Registration 7:30 a.m. 10:30 a.m. Exhibit Hall Open 8:00 a.m. 9:00 a.m. CFO Perspectives 9:00 a.m. 9:15 a.m. Coffee Break in the Exhibit Hall 9:15 a.m. 10:15 a.m. Strategic Planning for Mortgage Executives Mortgage Bank Accounting Primer 10:15 a.m. 10:30 a.m. 10:30 a.m. 11:30 a.m. Counter-Party Credit Risk Management 11:30 a.m. Conference Concludes 11:00 p.m. Nn Determining and Optimizing Reserves for Repurchases Tax Session

4 CONFERENCE SESSIONS Subject to change. GENERAL SESSIONS The Current State of the Industry Current economic indicators and outlk Mortgage originations forecast and industry outlk What s new with mortgage rates and spreads Future of the GSEs and the secondary market Potential effects of regulatory reform and court actions The New Regulatory Landscape Get a comprehensive summary of the Dodd-Frank Financial Services Regulatory Reform Act and its impacts on the mortgage industry, including: Credit risk retention Consumer Financial Protection Bureau Prohibition on steering and limits on points and fees Minimum standards for mortgages Presumption / Safe Harbor for qualified mortgages HOEPA expansion Servicing impacts Rating agency reforms FASB / sec Update FASB and IASB financial instrument projects Movement toward converged fair value accounting standards SEC hot buttons and reporting developments SEC deadlines for reporting under international accounting standards Financial Instruments Project Compare and contrast the FASB s and IASB s proposals for: Classification and measurement of financial assets and liabilities Impairment Hedge accounting and potential reduction in hedge effectiveness thresholds Summarize MBA s recommendations to FASB and IASB CFO Perspectives Back by popular demand, find out what s keeping your CFO up at night. A panel of mortgage industry veterans discusses (and debates) the top financial challenges affecting the mortgage business. The panel will be followed by a Q&A session with audience participation. Industry thought leaders address: The birth of new and/or hidden costs for mortgage lenders and servicers Viability of various mortgage products Building operating efficiencies Risk management Industry structure Human capital management Counter-Party Credit Risk Management How counter-parties are analyzing and assessing the financial condition of mortgage bankers in today s environment How the rules of engagement have changed Critical risk areas for new and existing counterparties from the perspectives of warehouse lenders, the agencies and correspondent aggregators CONCURRENT SESSIONS Single Family Mortgage Company Financial Performance and Strategies The latest profitability results for: Large versus smaller lenders Independent mortgage companies versus bankowned companies Efficiency measurement and operations trends Sales and fulfillment origination costs Lender perspectives on recent financial results Strategies for lenders in a purchase-dominated 2011 and 2012 originations market Commercial Mortgage Market Developments Roundtable discussion of issues affecting the commercial real estate finance markets, including: Property markets Sales markets Finance markets Mortgage performance Mortgage company operations Determining and Optimizing Reserves for Repurchases Accounting principles associated with representations and warranties (FIN 45) Assessing current repurchase risk Estimating and limiting loss exposure Overview of lender defense strategies Tax Session REMIC reform Carried interest Status of mortgage-related itemized tax deductions Tax reporting issues for servicers FAS 166/167: Accounting for Securitizations Practice issues and challenges Proposed FDIC treatment of FAS 167 assets and liabilities in bank receivership or conservatorship Risk-based capital treatment Favorable ruling on Ginnie Mae MBS

5 Compensation Planning Understanding the new rules for loan officer compensation, licensing and training, with special emphasis placed on: Department of Labor s wage and hour ruling for loan officers and repercussions for other job titles Federal Reserve Amendment to Regulation Z The Dodd-Frank Act SAFE Act Retained Servicing and MSR Valuation Moving beyond broker quotes assumptions used to value MSRs Methods for testing reasonableness of MSR values Bulk sales how to effectively value MSRs given limited trades in the marketplace Loan level reporting and scenario analysis Pros and cons of retaining servicing rights for the independent or bank-owned company Reg AB Changes Expansion of information reporting down to loan level Waterfall program Impact on private placements Shelf eligibility requirements and preliminary prospectus requirements Risk retention Impact on future of CMBS and RMBS markets Accounting for Credit Losses Expected loss versus incurred loss models Compare and contrast IASB s and FASB s impairment models Compare and contrast with existing OCC requirements New disclosures proposed Company Valuation and Acquisition Analysis Factors influencing marketability of mortgage companies Determining company value Buy-side and sell-side perspectives Integration considerations relating to management structure, people, systems and culture Strategic Planning for Mortgage Executives Explore the elements of an effective strategic plan, including: Assessment of current strengths, weaknesses and market position Long-term vision, including business and financial goals Definitive implementation Performance milestones and measurement Effects of new regulation and accounting standards on strategic plans Mortgage Bank Accounting Primer An overview of accounting for: Loan production revenues and expenses Loans held for sale Rate lock commitments Loan sales and securitizations Servicing Servicing revenues Loan modifications Network with AtteNDees Conference sponsorship is the ideal vehicle to grab the attention of this important audience and position your company as a leader in the industry. All sponsorships include a tabletop exhibit opportunity, but space is limited. For more information contact Mark Brady at mbrady@ mortgagebankers.org or (202) ExteND Your Reach Advertise in Mortgage Banking magazine and MBA NewsLink to promote your company before, during and after the conference. Call (203) or advertising@mortgagebankers.org

6 REGISTRATION AND TRAVEL INFORMATION FIVE EASY WAYS TO REGISTER Online (credit card) http: / / store.mortgagebankers.org Phone (800) , select option 3 Monday Friday, 9:00 a.m. 5:00 p.m. ET Fax (credit card) (202) Mail* Payable to: Mortgage Bankers Association Mail to: Mortgage Bankers Association P.O. Box Uniondale, New York * Use express mail for overnight deliveries to meet registration cutoff dates when applicable. Express mail only ensures postmark date for registration fees. Please allow 3 5 working days for processing and confirmations. Express Mail* Payable to: Mortgage Bankers Association Mail to: Citi 1 RXR Plaza Lockbox Lower Level WLBX # Attn: J Brady / N Richards Uniondale, NY (800) (select option 3) REGISTRATION INFORMATION Conference Registrant Information Registering online is easy with our enhanced features. Simply visit and click Conferences & Events. Note: Registrant badges can only be picked up by the registered individual unless prior arrangements have been made. Substitutions Send requests in writing to the attention of Registration Substitutions and include a $50 processing fee. You may your substitution request to meetings@ mortgagebankers.org. In order to guarantee that your name will appear on the Final Registration List, substitutions must be received by October 18. After October 18, all substitutions must be done on site. Cancellations and Refunds Cancellations received on or before October 18: Full refund minus $50 processing fee Cancellations received October 19 November 9: 50 percent penalty applied to all registration cancellations November 9: No refunds made after this date Cancellation requests should be sent to the attention of MBA Cancellations. You may your cancellation request to meetings@mortgagebankers.org. (You may also your substitution request to meetings@ mortgagebankers.org.) In the unlikely event of program cancellation, MBA will refund 100 percent of registration fees paid. MBA assumes no liability for any penalty fees on airline tickets, deposits for hotel accommodations or any other fees, charges, penalties or other incidental costs that a registrant might incur as a consequence of a program cancellation. For More Information Speaking Opportunities Deanna Johnston, (202) Sponsorship Opportunities Mark Brady, (202) Web site TRAVEL INFORMATION Please contact Travel Incorporated, MBA s official travel agency, to take advantage of special discounts on airfare and car rentals. You can make your travel arrangements Monday Friday, 24 hours a day. A proposed schedule will be sent to you immediately. Reservations will include 5 10 percent savings depending on the destination and meeting. You may also call our official air carriers and car rental agencies directly. To contact Travel Incorporated, call (800) If you do not use Travel Incorporated please use the codes below when making your travel arrangements to ensure that you receive the appropriate discounts. Airfare Discounts Please ask your travel or airline agent to use the following airline code when making your MBA travel arrangements. Using the appropriate meeting code will ensure discount savings for you and help MBA track its airline volume. American: (800) ; Airline Code Car Rental Discounts MBA members can obtain discounts by contacting the car rental agency directly and providing the identification number. Avis: (800) ; Avis Worldwide Discount number A Budget: (800) ; T Hertz: (800) ; ID# Hotel Accommodations The cutoff date for discounted hotel rates is October 26. This does not ensure availability of rms. If rms are available until October 26, you will receive the discounted hotel rate. After October 26, reservations are accepted on a space available basis only, and you may be charged the regular hotel rate. In order to receive MBA s special negotiated rm rate, you must contact the Rsevelt New Orleans by phone or fax and state that you will be attending MBA s Accounting, Tax and Financial Management Conference Rsevelt New Orleans 123 Baronne St. New Orleans, LA Phone: (800) WALDORF or (504) Fax: (504) MBA discount rate: $199 / night, single / double Hotel cutoff date: October 26, 2010 This brochure is printed on Rolland Opaque with 30% total recovered fiber / all post-consumer fiber using soy-based inks. ATTIRE: BUSINESS CASUAl NO AUDIO OR VIDEO TAPING OF THE PROGRAM PERMITTED

7 MBA REGISTRATION FORM ATTN: MBA Meetings MBA s ACCOUNTING, Tax and financial management CONFERENCE 2010 November 17 19, 2010 The Rsevelt New Orleans + New Orleans, La. Please check the appropriate category: Registrations received with payment by Oct. 18: Registrations received with payment after Oct. 18: MBA Member*: $1,150 Nonmember: $1,450 MBA Member*: $1,250 Nonmember: $1,550 REGISTRANT INFORMATION Please type or print. Photocopy form for additional registrants. Mr. / Ms. First Name Mi last Name N nickname Title customer ID Number** Company Name Company Address City State Zip Business Phone Number Business Fax Number Address (please provide to receive confirmations via ) Previous Employer if Employed Less than Two Years * Subject to membership verification. **To identify your Customer ID Number, please see the printed number located next to your name on the mail panel or call (800) , select option 3. Not required to register. If you have special needs addressed by the Americans with Disabilities Act, please check here and attach a statement regarding your particular needs. PAYMENT INFORMATION Payment Enclosed (Check Payable to: Mortgage Bankers Association) Bill my: VISA MasterCard American Express Discover Credit Card Account# Amount of Charge Name As it Appears on Card Address if Different from Above Signature D date expiration Date Please return this form with proper payment to Mortgage Bankers Association. See Five Easy Ways to Register for address information. Optional Diversity Questions Your answers to this section are optional. The use of this information is restricted to MBA and is being requested to enhance MBA s continuing efforts to increase diversity within its membership. Your individual information will not be provided to any external source or organization. Are you: Male Female Do you identify yourself as a member of any of the following racial and / or ethnic groups (check all that apply): Hispanic / Latino Black / African-American Asian / Asian-American / Pacific Islander Native Hawaiian / American Indian / Native American White / Caucasian None of the above FOR OFFICE USE ONLY ATTN: DEPARTMENT 1 Meetings Meeting # M Source Code B1 CMB 3 Pts. ID Co ID Order # Operator Date

8 Earn CPE credits This conference is a basic, group live offering with no prerequisite or advanced preparation required. Earn 3 CMB Credits Attendees of this conference earn three points toward the Certified Mortgage Banker (CMB) Designation. There s Still TiME save the date 11 PRESORT standard US POSTAGE PAID WASHINGTON DC Permit No. 3199