Expert Details

Expert in Residential Mortgage Backed Securities, Mortgage Servicing, Mortgage Data

Expert ID: 735740 Maryland, USA

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I have supported a myriad of cases; primarily for plaintiffs' attorneys. The defendants in these cases were RMBS bond issuers, trustees and servicers. Among our past assignments include contributions to several cases for: the DOJ; Berman, Tabacco (the largest of which was the Indy Mac case); Woolmuth, Maher, Deutsch (including BNY Mellon, Deutsche Bank, the Cranberry Park rebuttal, FDIC, JP Morgan, Country Wide and an analysis on the Nomura Securities ruling); Labaton, Molo Lampkin; Bernstein, Litowitz; Wolf, Popper; and Duff and Phelps (damages and loan file reviews on the Lehman case, servicer efficiency analysis). I have written and co-authored expert reports in all areas of RMBS cases including but not limited to, servicing standards, loan file reviews, all aspects of damage analysis, PSA reviews, rebuttal preparation, and trustee responsibilities. I have also engineered original methodologies to determine the efficacy of issuer, servicer and trustee performance using RMBS data available within the public domain. What sets me apart from other mortgage experts, is the fact that I can simultaneously opine on granular industry issues (i.e. loan level servicing, loan origination, securitization, bond analysis), while also analyzing and utilizing the actual datasets made available by loan servicers, trustees, credit rating agencies, and the GSCs. I am a Wall Street professional with two decades of experience running various aspects of risk management, IT, transaction processing, operations and bond trust administration functions. As co-founder of Black Box Logic (an RMBS loan level data provider purchased by Moody's Analytics in 2016), I am also intimately familiar with RMBS data, risk analysis and all aspects of mortgage mechanics. We have retained access to the loan data underlying the full universe of RMBS bonds. I have deep domain expertise in structuring reports; stratifying big data; conducting loan file reviews; reverse engineering Intex and/or manually creating bond waterfalls to calculate damage estimates; conduct loan data analysis and related mechanics; and, perform statistical extrapolation.

Expert may consult nationally and internationally, and is also local to the following cities: Washington DC

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Year Degree Subject Institution
Year: 1985 Degree: MS, ABD Subject: International Economics Institution: City University of New York
Year: 1980 Degree: BA Subject: Finance Institution: SUNY at Albany

Work History

Years Employer Title Department Responsibilities
Years: 2014 to Present Employer: Undisclosed Title: Managing Partner Department: Responsibilities: Principal of boutique business consulting firm focused on providing subject matter expertise to resolve financial services, IT and litigation support issues in the risk analysis of fixed income securities, particularly mortgages and mortgage backed securities. Maintain several litigation support engagements exploring issuer loan level underwriting activities, servicer and cash flow generation issues and bond trustee payment/disclosure activities. Additional fixed income regulatory and forensic consulting.
Years: 2006 to 2014 Employer: Title: CEO and Founding Partner Department: Responsibilities: CEO and Founding Partner for consulting and product services company that specialized in providing mortgage loan data and inventory control solutions for buy and sell side firms trading mortgage backed securities. Prior to its sale to Moody’s Analytics, BBx created a vast database of residential mortgages backing both conforming and non-conforming mortgage trusts; the data continues to be sold by Moody’s.
Years: 2004 to 2006 Employer: Appix, Inc. Title: Managing Director Department: Responsibilities: Managing Director of the wholly owned commercial division of midsized government contracting firm; a premier provider of a sophisticated mortgage allocations and clearing system that interfaced with the FICC, DTCC, and the Federal Reserve’s N.Y. payment infrastructure. Responsible for the fixed income trading practice products and services group. Directed best practices consulting engagements for both buy and sell side fixed income-trading floors. Assisted in the system flow and architectural design of software products.
Years: 1993 to 2004 Employer: Fannie Mae Title: Vice President Department: Securities Trading Operations Responsibilities: Vice President and officer in charge of secondary mortgage trading operations: team was directly responsible for well over 20% of the volume flowing through the industry’s mortgage backed clearing and settlement functions. Responsible for mortgage allocations, securities settlements, trust administration and securities accounting that interfaced directly with the FICC and the Federal Reserve Bank. Participated in weekly management meetings re: entire workflow (loan purchase, shadow servicing, pooling, and bond payment activities). Supervised the trust functions that reconciled incoming servicer/loan level cash flows for thousands of individual bond issues and generated/disclosed bond factors/bond payments made to investors in MBS and Remic books of business.
Years: 1982 to 1992 Employer: Nomura Securities Title: Vice President Department: Fixed Income Trading Responsibilities: Director responsible for the middle office systems groups for fixed income and equities. Lead architect of the software development effort that built one of the first automated mortgage allocations systems. Responsible for various aspects of fixed income risk modeling and securities valuation

Fields of Expertise

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