Banco Popular de Puerto Rico

As Chief Economist and Strategist, Dr. David Berson is responsible for analyses and forecasts of the economy, housing, and mortgage markets; domestic/global market research and planning; support of government relations and public policy; and strategic environmental planning. He also acts as a PMI spokesperson on topics related to global economic housing, as well as mortgage market conditions, prospects and policy. In addition, Dr. Berson manages PMI's Portfolio Management, Analytics & Pricing Group, which is responsible for all credit analytic models and projections for the company. Berson previously was Vice President and Chief Economist at Fannie Mae, where he advised the company on national and regional economic, housing and mortgage policy and conditions, including forecasts and analyses of the economy, interest rates, and housing and mortgage finance markets. He has also been Chief Financial Economist at Wharton Econometrics, visiting scholar at the Federal Reserve Bank of Kansas City, and assistant professor of economics at Claremont McKenna College and Claremont Graduate School. His government experience has included staff economist on the Council of Economic Advisors and economic analyst at the Treasury Department and the Office of Special Trade Representative. Dr. Berson is a past President of the National Association for Business Economics and is a frequent speaker to media and industry groups on the economic outlook, housing, and mortgage markets. Dr. David W. Berson joined PMI as Chief Economist and Strategist on October 30, 2007.He has a doctorate in economics and a master's degree in public policy from the University of Michigan, and a bachelor's degree in history and economics from Williams College.

Steven Horne brings a wealth of mortgage servicing experience to clients. He is a career-long expert in creating and executing strategies to mitigate losses in real estate portfolios of all types, with a specialized concentration in managing the most challenging assets. Horne has an impressive track record in this unique and highly specialized area, having pioneered a number of the concepts and strategies used in the Wingspan methodology for converting defaulted loans into re-performing loans, saving borrowers and lenders alike from the lengthy and painful process of foreclosure.Previously, Horne was director of servicing risk strategy with Fannie Mae where he restructured the National Servicing Organization and redesigned servicer performance reporting and legal services management. Prior to Fannie, he spent nine years as a partner with Sherman Financial Group and was executive vice president of Sherman�s servicing affiliate, Resurgent Capital Services. During his nine years at Sherman he built three of the firm�s most successful business lines, including a unit that purchased and resolved portfolios of delinquent mortgage loans. Horne founded and was former president of MSV, former director of default servicing for Ocwen Financial, RTC supervising attorney for numerous asset management contractors, and an attorney with the Washington, DC law firm of Frank, Bernstein, Conaway & Goldman. Horne holds a JD from George Washington University and bachelor degrees in English and Economics from Emory University. He is admitted to the bar in Virginia, Maryland, and the District of Columbia.

Marion McDougall is Senior Vice President of MetLife Bank, N.A. MetLife Home Loans is a division of MetLife Bank, N.A. Marion oversees the company’s retail banking operations, forward mortgage and reverse mortgage servicing and delivery operations, as well as several operating joint ventures. She assumed her position in September of 2008. Prior to joining MetLife Bank, Marion was Executive Vice President for First Horizon National Corporation and Senior Executive Vice President for First Horizon Home Loan Corporation. Marion oversaw the company’s retail banking call centers, ATMs, and on-line banking, as well as mortgage post closing and all aspects of loan servicing and business technology. Prior to First Horizon Marion was Managing Director of Credit and Real Estate at EDS in Plano, Texas. She has also held senior positions with Norwest Bank and Independence One Mortgage Corporation. She began her career with Standard Federal Savings Bank in Frederick, Maryland, in 1983.

Peter Mahoney is Managing Director, at Green Tree Servicing, LLC, a specialty servicer with more than 30 years experience managing credit sensitive mortgage assets for lenders, investors and insurers. Mahoney is responsible for building business relationships with national lenders and mortgage investors. Green Tree provides lenders and investors a range of capabilities, including sub-servicing high-risk loan portfolios; purchasing mortgage servicing rights and whole-loan portfolios; and providing recovery services on charged-off accounts. Green Tree has a proven track record of reducing delinquencies on problem assets for lenders and helping more borrowers keep their homes. Prior to joining Green Tree, Mahoney had a 15-year career at Freddie Mac. He was Vice President—National Lending from 2007 through 2009, responsible for managing relationships with the company’s largest mortgage lenders. He also served as Vice President—Global Investor Relations, responsible for managing relationships with shareholders and holders of debt securities worldwide, and as Vice President and Deputy General Counsel for Legislative & Regulatory Affairs, managing legal and policy issues relating to Freddie Mac’s congressional charter. As legal counsel, he negotiated critical legal and housing policy matters with the company’s regulators, the Department of the Treasury and the S.E.C., and provided liaison with Members of Congress and their staffs. Mahoney also managed affordable housing, fair lending and predatory lending matters for the company, and published leading law review articles on fair lending doctrine in The Emory Law Journal and on CRA regulations in the ABA Journal of Affordable Housing & Community Development Law. Mahoney is a graduate of the University of Virginia (B.A. with High Distinction, 1981) and its School of Law (1985), and is a member of the New York and Virginia State Bars. He serves as a member of the Board of Directors of Catholic Charities of the Archdiocese of Washington, D.C.

Ivy Zelman is a veteran equity research analyst and is the founder and CEO of Zelman & Associates. Zelman & Associates is a first rate research boutique that produces extensive macro and company-specific research, including coverage of twenty-three individual stocks. Zelman clients receive timely, unique and data intensive research, including propriety monthly surveys of executive-level leaders throughout the homebuilding, home improvement, non-residential construction, land development, banking and mortgage industries.

Martin Touhey is a Principal in the Consumer Finance Practice, a specialty practice within the Banking and Capital Markets Practice of PricewaterhouseCoopers. Martin has worked with retail banks, investment firms, mortgage banking companies, and credit unions in Canada, the United States, Australia and Greece. His 15 years of experience in the financial services industry includes business strategy assessment, financial modeling, process improvement, including analysis and re-design, activity based costing, risk analysis and risk management, customer and product profitability analysis and management reporting design. In addition Martin has extensive experience in consumer loan servicing with a focus on Default Management. Martin has led several high profile engagements assisting companies transform their Default Operation including Collections, Loss Mitigation and REO. He has worked with clients to develop risk based segment strategies, dialer and contact strategies, develop and implement new loss mitigation products and strategies, and analyze and transform recovery processes. He is also a recognized subject matter specialist in the area of Economic Value Analysis and its related concepts and has worked with several large retail loan servicers to help them optimize cash flows from their servicing assets. Prior to joining PricewaterhouseCoopers U.S., Martin worked for PricewaterhouseCoopers Canada in the Federal Government Consulting Practice. He worked with a wide array of government clients on process improvement; activity based costing, financial modeling and benchmarking assignments. Before joining PricewaterhouseCoopers Martin worked for a large Canadian Bank as a Financial Advisor, and assisted clients with credit lending and financial planning needs.

John Kalas oversees the Company’s regulatory, licensing and compliance functions and supports the Company’s Chief Legal Officer. Prior to joining American Home Mortgage Servicing, Inc., (AHMSI). Mr. Kalas joined the company in June 2008, and has worked for 15 years in the financial services and mortgage industry. Most recently he was Senior Vice President, Deputy General Counsel and Chief Compliance Officer of American Home Mortgage Investment Corp., handling legal and regulatory matters for its mortgage origination and servicing subsidiaries. Prior to American Home Mortgage Investment Corp., he held senior legal and compliance positions at large international and domestic banks. Mr. Kalas is licensed to practice law in New York and holds an undergraduate degree from the Johns Hopkins University and legal degrees from the University of Maryland and Georgetown University Law Center.

With intelligence, dedication and passion, Justin Barr has made a name for himself as a tireless advocate for community banks in distress. Justin’s commitment to helping community banks stay in control of their own destiny can be traced to his renowned family history of defending private businesses against government intervention and outside threats since the mid 1940s. In addition to nearly a decade of experience in middle market C&I and commercial real estate lending, Justin has spent the last ten years exclusively focused on loan workout and community bank turnaround projects. His background, credibility and extensive loan workout and bank turnaround knowledge and experience make him uniquely qualified to help community banks facing asset quality, capital and regulatory issues. Justin began his commercial lending career with LaSalle Bank and Bank of America. His C&I and commercial real estate loan workout experience includes senior positions with money center banks including Harris Bank and Credit Agricole. Justin also managed numerous "consent order" community bank turnaround projects over the past ten years, with an extraordinary track record of successfully challenging bank regulators, resolving complex non-performing asset issues and recapitalizing banks. Recognized as an expert on community banking, he is often quoted in the financial media, and his analytical abilities are well respected by banking professionals and bank regulatory authorities alike.

James B. Lockhart III is the Vice Chairman of WL Ross & Co. where he focuses on financial services and the mortgage recovery fund. Prior to joining in September 2009 he was the Director of the Federal Housing Finance Agency, regulator of Fannie Mae, Freddie Mac and the twelve Federal Home Loan Banks, and its predecessor agency, the Office of Federal Housing Enterprise Oversight, since May 2006. He served as the Chairman of Federal Housing Finance Oversight Board and a member of the Financial Stability Oversight Board with the Chairman of the Federal Reserve Board, the Secretaries of Treasury and HUD, and the Chairman of SEC. For the prior 4 years Mr. Lockhart was the Deputy Commissioner and Chief Operating Officer of Social Security, Secretary to Board of Trustees and a member of the President Bush’s Management Council. Mr. Lockhart also served in the previous Bush Administration as Executive Director of the Pension Benefit Guaranty Corporation from 1989 until 1993. Mr. Lockhart co-founded and served as managing director of NetRisk, a risk management software and consulting firm serving major financial institutions, banks, insurance companies and investment management firms worldwide. He held senior positions at National Reinsurance, Smith Barney, Alexander & Alexander and Gulf Oil, in Europe and the U.S. He has served as a member of the American Benefits Council’s Board of Directors and of the Advisory Board to the Task Force for the Critical Review of the US Actuarial Profession. He is a director of Virgin Money and the American Securitization Forum (ASF).Mr. Lockhart graduated from Yale University with a BA and received an MBA from Harvard Business School. He served as a Lieutenant (j.g.) in the U.S. Navy aboard a nucle