BREAKOUT SESSION: MSR Valuation and Strategy Drivers for 2026

President, Capital Markets and Lending, BSI Financial Services

Larry Goldstone brings decades of mortgage industry expertise, with deep experience across capital markets and structured finance, including loan origination, servicing, and securitization. He leads all revenue-generating and finance businesses at BSI Financial, including mortgage servicing rights acquisition, lending, sales, and ancillary business lines, driving growth through strategic capital markets initiatives. Larry was a co-founder, Chief Executive Officer, and President of Thornburg Mortgage, Inc., a New York Stock Exchange-listed mortgage REIT that focused on securitizing jumbo mortgage loans for high credit quality borrowers. He helped the company grow to become a Fortune 1000 company, achieving a peak market capitalization of $3.2 billion in 2007. Prior to joining BSI Financial, he founded and served as Founder and CEO of Aventur Partners, a business consulting and investment advisory firm. Larry began his work with BSI in 2012 as a consultant and strategic advisor, later joining full-time as Executive Vice President in November 2017. In July 2020, he was promoted to President of Capital Markets and Lending.

Sales Director, Mortgage Capital Trading, Inc.

Mr. Burruss is a 30-mortgage industry veteran. As Director of MSR Sales, David is responsible for marketing outreach and acquisition of new customers. Previously Mr. Burruss worked in the subservicing and MSR world, uncovering private label clients and those who wanted to sell MSR. He ran his own consulting firm offering a broad range of services like business/product development, investor relations, recruiting and outsourcing. Mr. Burruss also has a rich legacy in the national accounts arena servicing many of the top 20 US Lenders for PMI Mortgage Insurance Company, Arch MI, and Freddie Mac. In this role, he has covered the entire mortgage manufacturing process from origination through foreclosure; creating products and services focused on generating efficiencies and uncovering profitable niches for his customers. He also lead teams who developed some of the first automated underwriting processes in the industry. Mr. Burruss holds a bachelor’s degree from Carson-Newman University and is recognized as an AMP through the MBA.

Chief Financial Officer, LenderMAC

Michelle Richardson is CFO of LenderMac, where she oversees financial strategy, capital management, and operational infrastructure across a multi-channel mortgage platform. With more than 25 years of mortgage finance experience, she brings a practical, forward-looking approach to driving profitability, scalability, and resilience in evolving market conditions. Previously, she served as CFO of Plaza Home Mortgage, Treasurer at loanDepot, and has held senior leadership roles at Impac and Icon Residential. Ms. Richardson holds a Master’s in Accounting, is a Certified Mortgage Banker and Certified Treasury Professional. She serves as Chair of the Mortgage Bankers Association’s Accounting and Financial Management Committee and is well known for bridging strategy, efficiency, and execution.

Director, Consulting Services, Richey May

With extensive experience in mortgage banking and mortgage servicing, Seth leads the Mortgage Banking Consulting Services practice at Richey May. A sought-after speaker, he often speaks on liquidity, profitability and the overall challenges in the mortgage industry. Seth joined Richey May from the STRATMOR Group where he was a Principal. Prior to joining STRATMOR, he was EVP of Trading & Analytics at Phoenix Capital. Seth also served as SVP, Servicing Asset Manager at SunTrust Mortgage for more than 10 years, where he developed and led their servicing rights valuation team. His career also includes accounting, analytics and auditing roles at Bank of America, KPMG LLP and United Financial Inc. Seth holds the designation of Certified Mortgage Banker (CMB) from the MBA and was awarded the Mike Rosser Lifetime Achievement Award by the MBA CMB Society in 2023.