BREAKOUT SESSION: Pipeline Hedging Strategies
Choosing the right financial instruments to hedge your pipeline risk requires advanced analytics. TBA securities can be used to minimize basis risk, but they are often more expensive than other options. This session uses a detailed comparison of the P&L of alternative pipeline hedging strategies to illustrate the decision-making process.
Speakers
Moderator
Jonathan Glowacki is a principal and consulting actuary in the Milwaukee office of Milliman. He has been with the firm since 2009. Jonathan leads a team of data scientists and developers to provide powerful information and analysis to the mortgage industry through Milliman M-PIRe. Milliman M-PIRe is a cloud-based software that provides a complete end-to-end solution for clients to evaluate direct mortgage investments, credit risk transfer, private mortgage insurance, and insurance-linked notes. The tool includes the necessary data, models, and cash flow structures to evaluate individual transactions and quickly aggregate a portfolio of exposures. In addition to this work, Jonathan provides subject matter expertise to mortgage market participants on topics ranging from mortgage repurchase risk to mortgage portfolio valuations.
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