Jerome A. (Garry) Cipponeri
Chase Mortgage Banking
Senior Vice President and Director of the Capital Markets Department

Garry is Senior Vice President and Director of the Capital Markets Department for Chase Mortgage Banking.  He joined Chase in August of 2004, but has been in the mortgage business for 35 years, and specifically Secondary Marketing functions for 33 years.  Prior to becoming part of the Chase team, he spent 19 years at Citimortgage as their Senior Vice President for Secondary Marketing, responsible for hedging all pipeline and warehouse risk, selling all mortgage products and structuring Citi’s private label securities.  He also served as President of CitiCorp Mortgage Securities Inc.

His responsibilities at Chase Mortgage Banking include all hedging and Asset Sales, as well as Securitization, Sales Operations, Pledging, Agency, Government and MI relationships & Captive MI’s.  He also serves as Chairman and President of Chase’s three private label security companies and has a specialized Asset Sales group.  Garry is currently the Chairman of MBA’s RESBOG and has served two terms as Chairman of the Mortgage Bankers Association’s Capital Markets Committee.  He is a member of the MBA’s Board of Directors as well as a Board Member for the American Securitization Forum.

Douglas G. Duncan
Fannie Mae, Senior Vice President and Chief Economist

Douglas G. Duncan is Fannie Mae’s senior vice president and chief economist. He is responsible for providing all forecasts and analyses on the economy, housing, and mortgage markets for Fannie Mae. Duncan also is responsible for strategic research regarding external factors and their potential impact on the company and the housing industry.

Named one of Bloomberg / BusinessWeek’s 50 Most Powerful People in Real Estate and one of Inman News’ 100 Most Influential Real Estate Leaders for 2011, Duncan is Fannie Mae’s source for information and analyses on the external business and economic environment, the implications of changes in economic environment to the company's strategy and execution, and forecasting for housing activity, demographics, overall economic activity, and mortgage market activity.

Prior to joining Fannie Mae, Duncan was Senior Vice President and Chief Economist at the Mortgage Bankers Association. His experience also includes service as a LEGIS Fellow and staff member with the Committee on Banking, Finance, and Urban Affairs for Congressman Bill McCollum in the U.S. House of Representatives, and work on the Financial Institutions Project at the U.S. Department of Agriculture.
Duncan received his Ph. D. in Agricultural Economics from Texas A&M University and his B.S. and M.S. in Agricultural Economics from North Dakota State University.

John Charles Fleming
Texas Mortgage Bankers Association, General Counsel

Mr. Fleming practices in the area of banking law, mortgage lending, financial services law, regulatory and administrative law, governmental relations, commercial litigation, and arbitration. His clients include banks, thrift institutions, life insurance companies, securities firms, and mortgage banks. From 2003 through 2007, Mr. Fleming served as General Counsel to the Texas Department of Savings and Mortgage Lending which oversees state chartered thrift institutions, mortgage brokers, and mortgage bankers.

Prior to moving to Austin, Mr. Fleming practiced law for over 23 years with the East Texas firm of Zeleskey Cornelius. He is an adjunct professor at the University of Texas School of Law, and a frequent speaker on banking and mortgage law topics, and arbitration.

An experienced arbitrator, Mr. Fleming is on the Commercial Arbitrator Roster of the American Arbitration Association and has served as arbitrator in class arbitration cases. In 2008, the American Arbitration Association honored him with the President's Award for Leaderhship in Conflict Management in recognition for his work in arbitration, mediation, and education.

He is a past Chair of the State Bar of Texas Alternative Dispute Resolution Section. Mr. Fleming is Vice-Chair of the Regulatory and Compliance Committee of the Texas Mortgage Bankers Association, and is a director of the Texas Association of Bank Counsel. He is admitted to practice by the State Bar of Texas; the U.S. Eastern District of Texas; U.S. Northern District of Texas and the U.S. 5th Circuit Court of Appeals.

Michael Fratantoni
MBA
Vice President - Single-Family Research and Policy Development

Michael Fratantoni is Vice President of Single-Family Research and Policy Development for the Mortgage Bankers Association (MBA). He is responsible for managing MBA's industry surveys, economic and mortgage originations forecasts, industry technology efforts, and policy development research for issues impacting single-family lending. Additionally, Fratantoni is the Executive Director of MBA's Research Institute for Housing America (RIHA) and President of the Mortgage Industry Standards Maintenance Organization (MISMO). Fratantoni also staffs MBA's Risk Management Forum.

Prior to joining MBA, Fratantoni was an Economic Strategist within the Enterprise Risk Management Group of Washington Mutual. In this role, he was responsible for assessing macroeconomic, regional and housing market trends that impacted Washington Mutual's risk exposure and business prospects.
Previously, Fratantoni was Senior Director of Single Family Research and Economics at MBA. In this position, he was responsible for overseeing MBA's industry measurement efforts, managing MBA research efforts, and providing research and analysis regarding policy issues of importance to the mortgage industry. He was a senior staff member for MBA's Council to Shape Change, an effort that brought together executives from across the industry to examine and report on the trends that would impact the future of mortgage markets.

Fratantoni was also Director of Economic and Policy Research at Fannie Mae where he managed the production of policy studies by leading academics on issues relevant to Fannie Mae and served as a technical expert within the Regulatory Policy group. Prior to that, he served as a Senior Economist in Fannie Mae's Credit Pricing group.

Fratantoni received a Ph.D. in economics from Johns Hopkins University and a B.A. in economics from The College of William and Mary. He has also served as an adjunct professor at the University of Washington, and Johns Hopkins, George Washington, and Georgetown Universities and has published papers in economics and real estate finance academic journals.

Michael L. Kennemer
Mid America Mortgage, Inc., Chief Financial Officer

Michael L. Kennemer, Chief Financial Officer, manages all financial aspects of MAM.  Previously he was employed as Chief Financial Officer for Aegis Mortgage Corporation.  During his tenure at Aegis, he successfully acquired the retail operations of one of the nation’s largest and oldest subprime lenders, United Companies.  Aegis also acquired a large wholesale operation, New America Financial, bringing the 19th largest wholesale lender in the nation under the Aegis umbrella.  Mr. Kennemer has over 25 years of mortgage banking experience covering all facets of mortgage lending from origination/sales, finance/treasury, servicing, and secondary marketing.

Chuck Klein
Mortgage Banking Solutions, Partner and President

Chuck Klein is a managing partner and President of the Mergers and Acquisitions division of Mortgage Banking Solutions, an advisory and consulting firm to the residential lending industry. Mr. Klein is renowned for his 30+ years in Mortgage Lending experience and the last 22 years representing sellers and buyers in many of the country’s largest transactions involving mortgage companies. He is actively involved helping MBS’ clients develop business and exit strategies that will improve efficiencies and maximize returns.  His division at MBS works with nearly every warehouse lender in the U.S. as a consultant or to assist their mortgage lending customers obtain warehouse lines.  He has also served as a member of Fannie Mae’s Secondary Marketing Liaison Committee.  Chuck graduated from the University of Texas, Austin with a BBA in Management and lives in Waco, Texas with his wife Patty.  His son Mitchell has followed in his dad’s footsteps and is a loan officer with Envoy Mortgage in Houston, Texas.

Jeffrey M. Levine
Houlihan Lokey, Partner and Senior Managing Director

Jeffrey is a Partner and Senior Managing Director of Milestone Advisors, LLC, and head’s Milestone’s national mortgage banking advisory practice.  Mr. Levine has extensive transaction experience in the mortgage banking industry and has participated in most of the corporate transactions executed over the past fifteen years, representing a combined servicing volume in excess of $600 billion.  Recent notable transactions include: the sale of MetLife’s $70bn residential servicing business to JP Morgan Chase Bank, the sale of MortgageAmerica to HomeTrust Mortgage, the sale of $23bn in Agency MSR’s for the FDIC from AmTrust Bank, the sale of First Horizon Home Loans to MetLife Bank, and the sale of American Home’s mortgage servicing business to WL Ross & Company.

Prior to joining Milestone, Mr. Levine was Managing Director of BayView Financial Advisory Services, a boutique investment banking firm specializing in the mortgage banking industry.

Mr. Levine has over 25 years’ experience in the mortgage banking industry and prior to joining Bayview in 1991, was the manager of mortgage warehouse lending at Southeast Bank, N.A.  Mr. Levine has been a guest lecturer at the Mortgage Bankers Association’s School of Mortgage Banking and its Chief Financial Officers and Financial Analysis Conferences, as well as FHLMC’s School of Mortgage Finance.  His articles have appeared in national trade publications including Community Banker and Mortgage Servicing News.  Mr. Levine received his Bachelor of Science in Business Administration degree from the University of Florida.  Mr. Levine and his wife, Dalia, live in Aventura, FL.

Bill Moliski is currently a managing director at Redwood Trust focused on the public securitizations of jumbo mortgage loans. As part of the securitization team at Redwood, they have closed ten public securitizations since 2010 and have been at the forefront of getting private investors back into the RMBS market.

Bill joined Redwood in 2008 having spent the previous five years at Goldman Sachs.  Bill received his undergraduate degree in engineering from the Massachusetts Institute of Technology and his MBA from The Wharton School at the University of Pennsylvania.

David Motley
Colonial Savings, F.A., President

David Motley is President of Colonial Savings, F.A. and its divisions—Colonial National Mortgage and CU Members Mortgage. Mr. Motley is also CEO of First Western Title, Colonial's affiliated full service residential and commercial title agency. Colonial is a federally chartered institution, headquartered in Fort Worth, Texas, now servicing more than $16 billion in residential home mortgages. With more than 30 years in the banking and mortgage finance sector, Mr. Motley supports retail, consumer and credit union origination channels, as well as human resources, legal and marketing functions.

Mr. Motley has a B.A. in Economics from the University of Texas at Austin, is a graduate of the School of Mortgage Banking, and holds a Certified Mortgage Banker designation. He has served as President of the Fort Worth Mortgage Bankers Association and as secretary/treasurer and Director of the Texas Mortgage Bankers Association. He is Chairman of the Mortgage Bankers Association (MBA) Residential Board of Governors (RESBOG) and a member of the Board of Directors of the MBA.

Tom has over 26 years in the mortgage industry specializing in the valuation and trading of mortgage servicing rights.  Tom is the Managing Member of Interactive Mortgage Advisors, LLC (“IMA”) a consulting and advisory firm that he co-founded in 2001 that provides a variety of services to the mortgage industry including: representation related to mortgage assets with an emphasis on mortgage servicing rights; evaluation of servicing rights; M&A; structuring of portfolio asset management strategies, mortgage asset valuations, and market research.  In the eleven years since its formation, IMA has advised over 200 clients which include most if not all of the industry’s largest companies.

IMA also owns Spurs Capital with Tom as President.  Spurs is a distressed mortgage fund founded in late 2009.  Spurs purchases residential non-performing and scratch & dent loans along with REO. 

Prior to forming IMA, Tom was a founder and board member of Matrix Bancorp, a unitary thrift holding company comprised of a billion dollar savings and loan, full-service mortgage banking platform, investment bank, as well as other associated subsidiaries. As CEO of the Capital Markets unit, he oversaw the trading functions of this institution and a staff of approximately thirty finance professionals.

Tom graduated from DePaul University in 1986 with a Bachelor of Science in Finance. He is married and has six children and lives in Denver, Colorado.

Kenneth F. Richey
Richey, May & Co. , Managing Partner

Kenneth F. Richey, CPA, MT, CML is the managing partner of Richey, May & Co., an independent public accounting firm in Englewood, Colorado. Mr. Richey has practiced public accounting since 1978, providing tax and business consulting services to closely-held businesses and entrepreneurs. He specializes in creating business and income tax planning strategies, providing assistance with acquisitions, financing and financial forecasting for new businesses, asset sales and business liquidation structuring, and IRS dispute resolution. Since 1990, Mr. Richey consults with independent mortgage bankers throughout the country on business strategies and tax matters.

Austin Tilghman
UCM, Chief Executive Officer

Austin Tilghman is the Chief Executive Officer of UCM, responsible for overall management as well as marketing and trading supervision. Mr. Tilghman is a thirty-five year veteran of the mortgage-backed securities and derivatives markets. His Wall Street career was highlighted by management positions at Paine Webber, J.P. Morgan, and UBS.

Austin was responsible for the mortgage banking desks and headed a design team to offer some of the first derivative products hedging servicing rights. This team offered the first custom products to offset MSR balance sheet risk. In 1996, Austin founded UCM in Denver offering strategic advice and hedging solutions to the mortgage banking community.

was Vice President for Government Relations at the Financial Services Forum where he led successful efforts to change the tax code with regard to capital gains and dividends and reform the nation’s class action laws.  Using his extensive personal background in the housing and mortgage industries, Ken was also in charge of policy analysis for all housing and related financial and tax policy for the Forum and its President and CEO (himself the former Chairman of the House Financial Services Committee’s Subcommittee on Housing and Community Opportunity). 

In 2001 and 2002 Ken was the Deputy Executive Director of the Commission on Affordable Housing and Health Facility Needs for Seniors in the 21st Century. In that role, he was responsible for drafting the commission report to Congress, organizing field hearings, press, and managing the content of the website.  Prior to his appointment to the commission, Ken spent over five years as counsel to former Representative Rick Lazio (R-NY). He handled special projects and teamed with the Congressman's legislative staff to develop and secure appropriations projects.

Ken has a bachelor of arts in economics, political science, and law and society from the State University of New York at Binghamton (1992). He has a juris doctor from Hofstra University School of Law (1995) and is a member of the bar in New York and the District of Columbia.

Rob Zimmer
TVDC, Principal

Rob currently heads up TVDC, which provides financial services consulting, including hedge fund issues, real estate issues, and mortgage finance expertise.   He has been quoted in the Wall Street Journal, Bloomberg, Reuters, theStreet.com, and trade publications including National Mortgage News and Inside Mortgage Finance.

As part of his practice, he heads up external affairs for the Community Mortgage Lenders of America, the nation’s leading trade group for small mortgage bankers.  Began in 2009, the group now represents 100 members.

He is also co-founder of Votesane. Founded in 2010, www.Votesane.com, "Take Control of Your Country," is a startup model of political participation, research, feedback, and fundraising.  The only nonpartisan Political Action Committee that also provides news and information, it has disbursed nearly $2 million.  Its accompanying Facebook (www.facebook.com/votesane) newspage has over 20,000 fans.

Rob’s previous positions include: Vice President, Government Affairs at Freddie Mac; Vice President, RadioWallStreet.com; Subcommittee Staff Director of the U.S. House Committee on Banking, Finance, and Urban Affairs; and Captain, 4th Infantry Division in the US Army.