SINGLE-FAMILY TRACK 1: Mortgage Accounting 201
This session provides advanced learning on important topics, including Fair value vs LOCOM; Loan Sales and Securitizations and Accounting for Financing Options for MSR Assets, including excess servicing; Excess Servicing versus IO strip; Hedging - Day Two Accounting for loans held for sale after transfer to portfolio; TBA Accounting (Best efforts vs. Mandatory); Waivers for loan covenant violations/impact on disclosures; Agency Liquidity Requirements and Recapture.
Speakers
Moderator
Henry Chavez works with thriving organizations, serving as a strategic resource for their growth and success. Henry has provided assurance and business consulting services to privately held businesses in the financial services, manufacturing and distribution, technology, and non-profit sectors. Before joining Spiegel, Henry spent 15 years at PricewaterhouseCoopers, where he provided assurance services for international clients in banking and manufacturing and distribution. Henry holds a B.A. from the University of California, Santa Cruz, and an MBA from the University of California, Irvine. He is a licensed CPA in the state of California, as well as others around the country.
Speakers
Emily is a senior manager with more than thirteen years of public accounting experience. She specializes in serving clients in the financial services industry and has significant experience performing and supervising financial statement audits, agency compliance engagements, internal audits, model validations, and other accounting engagements for those clients, including mortgage companies, banks, credit unions, consumer specialty finance, and leasing companies. As a member of Plante Moran’s professional standards group, she focuses on the firm's commitment to quality and works internally and externally to assist peers and clients with implementation of complex accounting matters. Emily holds an M.S. in Accounting and a B.A. in Finance from Michigan State University.
Paul Chiarelli, CPA, is an Audit Partner at ACS and services various industries, including mortgage banking, private lending, real estate/multi-family, asset-based lenders, among others. The services provided include financial statement audits, internal control analysis, subservicing oversight, quality of earnings, etc. In addition, Paul provides consultation services with respect to various mortgage banking issues, including derivatives, allowance for loan losses, leases, regulatory changes and tax matters. Paul has a B.S. in accounting and finance from Rutgers University.
Jennifer joined Richey May in January 2012 and was promoted to Assurance Partner in 2014. In 2020, she was promoted to Practice Leader of Mortgage Banking Audit. Prior to joining Richey May, Jennifer worked with a large national accounting firm and in the finance department of a construction company, providing her with experience as both a client and a client-serving professional. Jennifer specializes in mortgage banking, real estate, nonprofits and 401(k) plans. She has authored a number of white papers for the mortgage banking industry and is a sought-after speaker, providing insight for clients, numerous industry associations as well as internal training for the firm. Jennifer is focused on providing consulting advice to her clients, and she has experience in process improvement that has earned her much appreciation from many of the businesses Richey May serves. She has trained a number of clients and new entrants to the industry on hedging, mortgage servicing rights and other areas specific to mortgage banking.
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