PMC2010

BUZZ: Darius, what is the Predictive Methods Conference and why does Veros put it on?

DARIUS: We started PMC back in 2000 to provide something which had been missing in the industry – an opportunity for industry leaders to speak openly about the challenges facing the mortgage business and obtain insights from industry experts on the best ways to address those challenges.  The educational content and those frank discussions helped PMC become among the industry’s most popular and important gatherings for senior executives.  PMC2010 will be perhaps the most important of these conferences.

BUZZ: Why is that?

DARIUS: The answer is reflected in the theme of this year’s PMC: “The Renaissance of Risk.”  We truly have entered a new era, a renaissance if you will, in how we address risk in our business.  Investors need transparency throughout the process, and that requires new approaches and new analytics in all aspects of mortgage lending.  The art and science of predicting and managing risk is advancing rapidly, and senior managers really must become versed in this important area.  Appraisals and all other types of valuation tools are more critical than ever in this new reality.

BUZZ: How so?

DARIUS: Investors and all others in the value chain appreciate the importance of knowing the value of the collateral more than ever before.  So the people at the very beginning of the loan process, like the appraisers, are more visible than ever to the capital markets stakeholders at the end of the process and to all parties in between.  It is important for the appraisal community to become part of this dialog as yet another step toward the transparency the industry needs for an authentic rebirth 

BUZZ: Can you give us a few examples?

DARIUS: Certainly.  A great example is Fannie Mae’s Collateral Data Delivery initiative, CDD, which is scheduled to launch mid-2010.  Fannie Mae will require that electronic appraisals be submitted prior to loan purchase, which is a first.  This means Fannie Mae will have the data itself in a MISMO format, where the individual data elements can be analyzed in order to improve overall loan quality.    Another example is the continuing controversy surrounding the HVCC and FHA’s appraiser independence rules.  There has been great conflict in the origination community surrounding these requirements, and they will be prime topics for discussion.  Giving appraisers the latitude they need to make the best possible value assessments is paramount to stability and long-term health for the industry.  As leaders, it is up to us to offer the best possible input for the benefit of those making policy, and PMC can play an important thought leadership role.

BUZZ: It sounds like this will be an important gathering.

DARIUS: PMC2010 will be one of the most important industry meetings in years, raising the bar for those that follow.

Found out more about PMC by going to www.PMC2010.com or
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