CREF TRACK: Ask the Auditors

Steve Robertson

Principal, PwC

Steve Robertson is a PwC partner and provides specialized audit support and advisory services for model-based critical accounting estimates such as valuation of MSRs, interest rate lock commitments, loan loss allowances, and repurchase loss reserves. Steve has over 20 years of professional experience designing, developing, and validating statistically-based and computationally-based economic and financial models and oversees PwC's MSR valuation surveys. In addition, Steve supports PwC's clients with risk management and regulatory / compliance remediation, servicing transfers, and M&A diligence and integration.

Adam Bareham

Managing Director, Ernst & Young

Adam Bareham is a New York-based Managing Director in EY’s Structured Finance Advisory Services practice leading the Valuation Analysis and Pricing (VAP) team as well as serving clients in the securitization transactions market. He has more than 25 years of experience in the securitization industry. In that time his clients have included all of the largest investment banks, money center banks, Securitization Issuers, REITs and hedge funds. VAP works with over 900 audit teams at EY helping them value and understand the risks associated with securitized products held by our clients. He is a subject matter expert in RMBS, ABS, CMBS, Agency, CLOs, Master Servicing Rights (MSRs) and Esoteric deals as wells as leveraged, non-performing, re-performing and consumer loans. Bareham has vast experience in Structured Finance transactions. He has managed and modeled (Agreed-Upon Procedures) more than 1,600 securitized transactions of a diverse group of asset classes including RMBS, ABS, CMBS, Agency, CLOs, MSRs and Whole Business securitizations. He has also worked on large scale DFAST, CCAR and Regulation AB compliance engagements as well as several high-profile Federal Reserve and OCC consent order engagements as a Subject Matter Expert and team leader. He previously worked at The Bank of New York, Deloitte, DTCC, and Grant Thornton, all in structured finance leadership roles. Bareham has an MBA from the University of Michigan, Ann Arbor and a BS in Economics from Manhattan College.

Daniel Lee

Senior Manager, Assurance Services, Moss Adams, LLP

Daniel Lee has practiced public accounting since 2001. He has extensive audit experience serving both public and private companies within the financial services industry. He has served a variety of financial institutions, including commercial banks, mortgage banks, mortgage lending companies, and broker-dealers. Lee has significant experience in dealing with complex accounting and SEC reporting issues through performing integrated audits in accordance with Sarbanes-Oxley and PCAOB guidelines. In addition, he has dealt with complex issues such as business combinations, allowance for loan loss validation, FDIC loss-sharing agreements, mergers and acquisitions, and share-based compensation.