San Francisco, CA - September 8, 2004 - LoanPerformance, Inc. a leading data, research and analytics company for the mortgage industry, today announced the appointment of Paul S. Calem, Ph.D., as vice president of Product Research.

In his role at LoanPerformance, Dr. Calem oversees new product and ongoing research and development functions. Calem brings more than 20 years of knowledge and expertise in economic modeling, with a focus on housing markets and mortgage and consumer credit. Prior to joining LoanPerformance, Dr. Calem was senior economist in the Division of Research and Statistics at the Federal Reserve Board, where he had served for ten years. Prior to the Federal Reserve Board, Dr. Calem was a senior economist for the Federal Reserve Bank of Philadelphia.

At the Federal Reserve Board, Dr. Calem participated in the process of developing the proposed new Basel Capital Accord. In particular, his research on residential mortgage credit risk was critical to the calibration of the risk weight function for residential mortgages within the proposed new Accord. Prior to his Basel-related work, Dr. Calem was co-developer of the Federal Reserve System’s statistical analysis procedures for fair lending examinations.

His recent research has focused on approaches to modeling the credit risk of residential mortgages and credit card loans; limitations of credit bureau data for assessing consumer credit risk; dynamics of local market housing prices; and issues related to community reinvestment and fair lending.

"Paul’s extensive experience analyzing the mortgage and capital markets will help us better develop new products and solutions for our customers so they may better manage risk and more efficiently manage capital,” said Dan Feshbach, President and CEO of LoanPerformance.

Dr. Calem holds a Ph.D. in Economics from Brown University and a B.A. in Mathematics from Duke University. Dr. Calem has published numerous research studies in scholastic economics journals and in Federal Reserve System publications in the areas of housing economics, mortgage and consumer credit, and banking regulation.

About LoanPerformance
San Francisco, CA-based LoanPerformance (formerly MIC) is a leading data, research and analytics company for the mortgage industry. LoanPerformance tracks the payment performance of 90% of the outstanding prime mortgages in the U.S, 65% of the outstanding sub-prime market and 80% of the private (non-agency) mortgage securities market. LoanPerformance aggregated databases and analytical tools enable financial service institutions, Wall Street analysts, and mortgage investors to make more informed decisions by integrating robust data and analytics into their credit risk and securitization processes. For more information, visit www.loanperformance.com, or call 415-536-3500.

©2004, LoanPerformance. All Rights Reserved.

Media contact
John Lewis
Campbell Lewis Communications
202.261.6548
john@campbelllewis.com