Session Detail

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Schedule subject to change.

Note: Meeting rooms may change. Please refer to the MBA Events mobile app, available in both the App Store and Google Play, on-site for final locations.

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Tuesday, February 11, 2020

  • Breakout Session: Legends of the Fallback: Transitioning From LIBOR to SOFR (Closed to Media)

    Location: 2nd Floor,
    Seaport Ballroom F


    Speaker(s)

    John S. Lippmann, Senior Director, NYL Real Estate Investors

    Reena S. Pally, Managing Director, Global Real Estate Investments, MetLife Investment Management

    Christopher Speaker, CFA, FRM, Senior Policy Analyst, Federal Housing Finance Agency

    Keith A. Dunsmore, Partner, Bryan Cave Leighton Paisner LLP

    Breakout Session

    Set to expire by the end of 2021, LIBOR has an enormous impact on the pricing of numerous types of loans.  The transition away from LIBOR will directly impact commercial real estate, given the large amount of floating-rate lending that references the rate in pricing loans. Industry experts will examine the issues, the size and scope of the transition and what it means for lenders and borrowers.

    Speaker(s)

    John S. Lippmann, Senior Director, NYL Real Estate Investors

    John Lippmann, Head of Structuring at New York Life Real Estate Investors and Co-Portfolio Manager of the Madison Square Structured Debt Fund

    Mr. Lippmann oversees the production of highly structured real estate loans across New York Life Real Estate Investors’ national platform, including construction, bridge and mezzanine financing. He is part of the debt leadership team which prices and approves all estate loans. Additionally, he is responsible for special servicing and manages financings and interest rate hedging strategies for REI’s equity platform. Mr. Lippmann has over 20 years of commercial real estate experience. Prior to joining the firm in 2010, he worked in the real estate groups at FTI Consulting and Eurohypo AG. He began his career in the Real Estate and Lodging Investment Banking group at JPMorgan Chase. Mr. Lippmann has a B.A. from the School of Public Affairs at American University and an M.B.A. from the Stern School of Business at New York University, where he also taught as an adjunct assistant professor in the Master of Science program at the Schack Institute of Real Estate for over a decade.

    Reena S. Pally, Managing Director, Global Real Estate Investments, MetLife Investment Management

    Reena Pally is a Managing Director in Global Real Estate Investments.  She is the portfolio manager of MetLife’s general account commercial mortgage portfolio.  Ms. Pally is a voting member of the Investment Committee and Head of Portfolio Loan Surveillance.   Ms. Pally is the Chairperson of the Mortgage Bankers Association LIBOR Outreach Committee. She received an MBA from the University of Southern California Marshall School of Business and a BS from New York University Stern School of Business.  Ms. Pally is a member of the Women’s Bond Club, a professional organization focused on women in finance.

    Christopher Speaker, CFA, FRM, Senior Policy Analyst, Federal Housing Finance Agency

    Chris joined FHFA in October 2018 as a Senior Policy Analyst in the Office of Multifamily Analytics and Policy. At FHFA Chris is currently focused on the transition from LIBOR for Fannie Mae and Freddie Mac, and is the Agency’s lead for the Multifamily LIBOR transition working group. Prior to joining FHFA, Chris was a Director in PricewaterhouseCoopers’ (PwC) Structured Finance Group in New York City where he worked with clients on transactions through their entire lifecycle – from pre-closing due diligence, to on-balance sheet valuation, to responding to new accounting or regulatory standards. Prior to his time with PwC, Chris gained valuable lending experience as a part of United Bank’s commercial real estate team in Washington, DC. There Chris developed expertise in underwriting, originating, and managing a portfolio of diverse commercial real estate loans. Chris holds a BS from Penn State University, an MBA from West Virginia University, and a MS in Finance from the Carey Business School at Johns Hopkins University.

    Keith A. Dunsmore, Partner, Bryan Cave Leighton Paisner LLP

    Keith Dunsmore's practice focuses on representing CMBS and Multifamily mortgage loan servicers and originators in various types of transactions, including the purchase and sale of servicing rights, securitization transactions, loan level transactions, and CLO transactions.  Keith's experience includes:  Representing master and special servicers in securitization transactions in excess of $150 billion.  Representing master and special servicers in the purchase and sales of servicing rights in excess of $750 billion.  Advising master and special servicers on REMIC issues related to in excess of 1000 loans.  Recently represented a major servicer client as subservicer on the successful completion of a $350 million securitization of residential bridge loans, currently recognized as the largest ever issuance in this asset class. Although the number of marketable securities was significantly upsized during the marketing period to accommodate excess demand from institutional investors, the total number of order requests was appreciably in excess of the quantity of notes available in the bond offering.  Keith has been very involved with several industry associations, including the Mortgage Bankers Association and CREFC. He has been on the Commercial Board of Governors of the MBA and co-chaired various committees. He currently serves on the Education Committee for CREFC. Keith is a frequent speaker on industry issues.