BREAKOUT SESSION: Opportunities in Second Lien Lending
Home equity lines of credit (HELOCs) and Closed-End Second Liens have picked up the slack as high rates have put a damper on cash-out refi lending. This session provides timely insight on the secondary trading and credit markets for HELOCs, closed-end seconds and unsecured lending as alternative lending products that may drive 2025/2026 mortgage trading.
Speakers
Moderator
John Toohig is a Managing Director at Raymond James, a Board Member and President of Raymond James Mortgage Company, Inc and Head of the Whole Loan Group. John joined Raymond James (formerly Morgan Keegan) in September of 2006. As manager of the Whole Loan group, Mr. Toohig’s primary responsibilities include day-to-day trading of whole loan packages, portfolio analysis, transaction management and the structuring of whole loan, participation and various structured products. Mr. Toohig’s product focus encompasses both seasoned and new production: residential mortgages (both QM and Non-QM), commercial mortgages, consumer lending, scratch and dent loans, and non-performing assets. Prior to joining the Whole Loan group at Raymond James, Mr. Toohig was a part of the firm’s Taxable Banking platform where he was responsible for corporate debt transactions, trust preferred securities, sale leaseback transactions and ABS transactions. Previously, Mr. Toohig worked for FTN Financial in their Capital Assets department and primarily focused on automobile securitizations (ABS) for community depositories. Mr. Toohig was also responsible for the analysis and trading of whole loans – namely consumer and residential mortgages. Prior to that, Mr. Toohig was in a wealth management role at Wells Fargo. Mr. Toohig received his undergraduate degree from the Houghton College and his MBA from the University of Mississippi with a focus in finance and IT. Mr. Toohig has his Series 7, 24 and Series 63 licenses. His community involvement includes currently serving as Member of the Board of Trustees for St. Agnes Academy / St. Dominic School. He is also a former chairman for both the Lafayette and DeSoto county American Cancer Society Relay for Life events and the former president of the Ole Miss MBA Alumni Board.
Speakers
Joining Curinos in October 2021 as a Home Equity expert and industry advocate, Ken works alongside his lending partners, leveraging Curinos’ Home Equity data assets to interpret benchmark performance and strategic planning through his expert analysis. Before joining Curinos, Ken gained his Home Equity expertise through multiple roles in Credit and Income Underwriting, Portfolio Management, and Product and Pricing Manager roles, in which he also served as a practitioner of leveraging Curinos’ Lenders Benchmark data assets, helping build strategies across the line of business to achieve profitability hurdles and growth targets.
Allen Price, SVP at BSI Financial, is a mortgage industry veteran with more than 20 years of experience in the primary and secondary markets. At BSI, Allen focuses on loan subservicing, QC, and mortgage servicing rights (MSR) acquisitions while overseeing Sales, Transaction and Client Management. Prior to BSI, he oversaw sales and strategy as SVP at RoundPoint Financial Group. Allen’s background includes SVP at ServiceLink's capital markets group and as SVP at Nationstar Mortgage, where he led Nationstar’s MSR and subservicing acquisitions. Earlier in his career, Allen was a senior risk executive for BBVA's residential mortgage portfolio and an SVP of global structured finance and RMBS trading at Bank of America. Prior to that, Allen was senior manager at Fannie Mae for nearly 7 years, from 2000-2006.
Michael Saccento is a Senior Principal Product Manager at ICE in the Mortgage Data and Analytics group. As a product leader, Michael’s focus is making data accessible, connected, and at the center of our client’s daily business decisions. With over 20 years of experience in mortgage, real estate, and capital markets, Michael’s background prior to joining ICE includes time spent in consumer finance products, asset-based lending, servicing, risk management, whole loan trading, and securitization. This exposure to the full loan-lifecycle and the inefficiencies he observed ultimately drove him to pivot his career and begin a journey towards building financial technology products in housing finance. Michael holds a B.B.A. with a concentration in Corporate Finance from the University of Massachusetts at Amherst.
WYSIWYG Callout
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