Stephen Pennington, Senior Director, Bond Analytics Solutions, First American CoreLogic
Brendan Keane, Sr. Vice President Advisory and Valuation Services, First American CoreLogic
David Stinner, Vice President, Analytics Solutions, First American CoreLogic
Determining underlying risk and accurate pricing for a legacy non-agency RMBS security is anything but simple. It requires accurate, current data from multiple sources, reliable predictive analytics and solid deal models—with a verifiable resulting price that fulfills the transparency mandate.
First American CoreLogic recently developed an ingenious approach that brings together LoanPerformance data and analytics with Intex deal models, creating something altogether new to the industry—Bond Analytics Solutions that translate loan-level projections to bond-level cashflows and prices, via seamless mapping to Intex deal models.
Be among the first to kick the tires and take the recently introduced Bond Analytics Solutions for a test drive. During this live webinar, we'll take you through the Bond Analytics Platform and Bond Pricing Service, show and tell you how they work, and answer your questions.
A single integrated platform that generates verifiable pricing and related information by deriving results from the actual current and projected risk to the value of assets within securities and portfolios. Premium real estate, borrower & securities data—including First American CoreLogic property, mortgage and fraud data, LoanPerformance securities and HPI data, and Intex deal models—provide the raw material to power the loan-level, multi-perspective analytics.
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- Conduct underlying asset risk evaluation
- Perform distressed asset valuation
- Filter transaction bid lists in real time
- Obtain securities/portfolio pricing
- Perform Monte Carlo simulations at the loan-level
- Calculate projected principal losses at the bond-level
- Determine up-to-date loss coverage ratios
Hedge fund and private equity investors, asset managers, bank portfolio managers, government regulators, insurance investment managers, corporate treasurers and anyone else interested in learning about the latest advances in bond analytics, forecasting and modeling tools that simulate likely asset performance in the future.
Stephen Pennington manages the company's suite of bond analytics solutions, including the interface between datasets of LoanPerformance/First American CoreLogic and Intex Solutions, and the proprietary platform that automates high-speed delivery of bond analytics and pricing.
Stephen has extensive experience developing bond analytics, surveillance, reporting, and trade-capture systems. As quantitative developer, he has substantial knowledge of the integration of LoanPerformance ABS/MBS and HPI datasets with Intex Solutions cash flow libraries and datasets. This experience includes the successful development of loan default and severity models.
Prior to joining First American CoreLogic, Stephen was director of financial engineering and technology at Dynamic Credit Management, an investment management and advisory firm specializing in the risk/reward analysis of securitized products. While a quantitative developer/analyst at the company, he was responsible for overseeing the team of programmers that created its integrated trade and ABS/CDO surveillance system. This team also built the firm's proprietary ABS CDO model integrating Intex cash flows, LP data assets and the DCM internally developed CDO engine.
Stephen combines hands-on computer programming skills with advanced knowledge of quantitative methodologies, mathematics/statistics, and finance/economics. He holds dual Bachelor degrees in mathematics and economics and a Master of Science in Mathematical Finance, all from Florida State University in Tallahassee. Stephen also holds the Financial Risk Manager designation awarded by the Global Association of Risk Professionals.
Mr. Keane is senior vice president at First American CoreLogic, a subsidiary of the First American family of companies. His responsibilities include residential real estate client advisory and consulting, with a particular focus on investors, originators, and servicers. Data and analytics developed by First American CoreLogic, Loan Performance, and First American Real Estate Solutions are a few of the resources upon which the Advisory and Valuation Services practice is founded. Prior to joining First American, Brendan was a managing director at Credit Suisse Securities, most recently co-heading its U.S. Asset Finance group. He was also a senior member of the firm's Specialty Finance investment banking practice and headed its Real Estate-related Asset Finance effort. Before joining Credit Suisse, he was a member of Prudential Securities Fixed Income and Investment Banking departments, where he headed its Real Estate Asset-Backed Securitization program. In addition, he was a senior residential mortgage-backed securities ratings analyst at Moody's Investors Service and a corporate associate of the law firm Milbank, Tweed, Hadley & McCloy. A graduate of the State University of New York at Albany and Albany Law School of Union University, he resides in New Jersey with his wife and two children.
Dave Stinner heads a team of pre- and post-sale data/analytics experts that helps First American CoreLogic clients optimize business and technical performance of the company's suite of risk-analysis products. Team services include system design/implementation and client training.
Stinner's team specializes in services related to predictive analytics solutions, especially the LoanPerformance RiskModel system for simulating and evaluating the future risk of loss, default, and prepayments to individual mortgages, mortgage pools, and mortgage portfolios.
Prior to joining First American CoreLogic, Stinner was director of research and strategy for GMAC RFC Securities. Before that, he spent a number of years in the mortgage research department at Citigroup Global Markets (then Salomon Smith Barney), ending as vice president of mortgage strategy-part of a team highly regarded in the industry for superior Agency MBS analysis.
Stinner holds a Bachelor of Science degree in industrial engineering from Lehigh University and an MBA in finance and operations research from the Wharton School at the University of Pennsylvania. He is a Chartered Financial Analyst (CFA).
