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Tuesday, September 28, 2021

  • Underwriting & QA Track: Approaches to Ensuring Loan Quality to Minimize Repurchase Risk


    Speaker(s)

    Stephen Spies, CMB, SWS Risk Advisory LLC, Principal and Founder

    Don Smith, Director of Transaction and Commerce Automation Solutions, LoanLogics

    Amanda Zlato, Director, Underwriting and Quality Control, Single Family, Freddie Mac

    Kathy Herig, Chief Credit Officer, Homepoint

    Millions of homeowners are reaching the end of forbearance terms and foreclosure moratoria are lifting across the country. As the industry prepares for a return to more normal operations, another concern is the risk of repurchase demands from investors for any loans that go into default. Delivering high quality loans is the best means of preventing buyback demands. Join the panelists as they discuss their experiences and approaches to maintaining loan quality as well as managing the risk of repurchases.

    Speaker(s)

    Stephen Spies, CMB, SWS Risk Advisory LLC, Principal and Founder

    Steve Spies, JD, Certified Mortgage Banker (CMB), Certified Fraud Examiner (CFE).  Steve Spies is Principal and Founder of SWS Risk Advisory LLC, a risk management consulting firm to the financial services, real estate and mortgage industries. Prior to recently starting his own consulting practice, Steve was Fannie Mae’s top Quality Control Executive. His 200+ person team conducted over 100k due diligence reviews annually while engaging Fannie Mae’s nationwide lender base on how to control and improve loan manufacturing quality. In addition, he was part of Fannie Mae’s leadership team that developed credit policy and risk management guidelines, setting the bar for the $10 trillion mortgage industry. He played a prominent role in guiding the mortgage market out of the real estate crisis by

    Don Smith, Director of Transaction and Commerce Automation Solutions, LoanLogics

    Don Smith is currently serving as Director of Transaction and Commerce Automation Solutions for LoanLogics®. In this role he is responsible for driving the implementation of features and improvement of the company’s flagship SaaS based platform for loan quality management, LoanHD®. Don leads a team of five business analysts identifying market problems and designing and documenting the solutions, providing LoanLogics' development team with strategic direction and customer-driven functionality. In addition to its data-driven, digital technology and cloud-based functionality for greater quality control, the LoanHD platform includes compliance modules specific to HMDA and TRID. He learned the mortgage industry from 2003 to 2007, including his work as a mortgage banker at American Home Mortgage and serving as trust relationship manager and wealth management advisor at U.S. Bank prior to joining LoanLogics. Don received his J.D. at the University of South Carolina School of Law, and his previous experience in the law has helped him better understand the regulatory landscape while designing solutions for the mortgage industry.

    Amanda Zlato, Director, Underwriting and Quality Control, Single Family, Freddie Mac

    Amanda Zlato is an underwriting director on the Quality Control (QC) team in Freddie Mac’s Single-Family Risk Management division. She oversees teams that perform QC underwriting reviews and the compliance team responsible for completing anti-predatory lending reviews. She manages the QC client relationship for a national lending segment. Ms. Zlato has 18 years of experience in the mortgage industry and has been with Freddie Mac for 12 years, contributing efforts to quality control underwriting, client management, income and asset innovation, collateral initiatives and impasse resolution. Ms. Zlato holds a B.S. in education from the University of Pittsburgh and an MBA from Saint Francis University.

    Kathy Herig, Chief Credit Officer, Homepoint

    I have been in the mortgage industry for 30 years, during this time I have worked in a variety of capacities including sales, however, my main areas of focus have been operations and credit.  I have worked in start-up organizations as well as large lenders, managing teams in excess of 1000 associates.  In my current role as Chief Credit Officer I am responsible for establishing credit policy for the organization as well as analyzing credit risk across all of our channels and products.   In addition to my credit responsibilities, I also lead teams responsible for quality control,  repurchase, appraisal management, fraud, and counterparty risk. When I am not working, I enjoy spending time with family and friends.  I also enjoy traveling and focusing on how to make the world a better place through volunteering with local charities. I earned a bachelor’s degree from Michigan State University.