• General Overview of Bank Lending
• Transaction parties and functions
• Credit scoring and understanding the score/uses of the score
• Loan Underwriting Process
• Key issues in documenting and closing a bank financing transaction

• Basic CMBS structure/business objectives
• Parties to transaction; roles and interaction with other deal parties
• Discussion of CMBS vs. other securitization/structured finance structures

• Record-Setting 2019 new WBS issuance
• Secondary market performance and liquidity
• New asset class/issuer suitability

• Global PRI: overview of key standards being set in Europe for ESG and responsible investing

o Which aspects are is still developing and changing?

• What should US entities be adopting from what has been developed?

o Corporates

o Investors

• Which standards and what aspects of the European approach to ESG can be adopted in our industry? 

• Introduction to the various types of asset classes that constitute Consumer ABS and the State of the Market
• Securitization Readiness Considerations
• Case study on a MPL securitization
• Recent regulatory and legal developments impacting Consumer Lending Models

• Background and History on CRT Deals – How did we get here?
• Overview on the current GSE and MI CRT market
• Why are banks interested in CRT and what structures are being used?
• Types of the risk transfer and different asset basis.
• Investor demand for the CRT market in general
• Legal and structuring considerations for non-GSE CRT
• Overview on analyzing collateral performance of the GSE CRT deals

• History of Oil and Gas Financing in the US
• Why has traditional capital (Bank RBL’s, High Yield, Equity) pulled back from the sector?
• Why is securitization a solution for Oil and Gas Financing?
• What makes a good securitization for Oil and Gas transaction?
• Where do we see pitfalls in potential transactions?
• How do we see issuance activity in 2020 and Beyond?

• Different approaches are taken by various rating firms:

o Approach to ESG evaluations

o Approach to ESG impact on ratings (SF)

o Assessing differences across different approaches and methodologies

• Issuer/originator perspective

o Mission/goals behind the green financing business

o Developing a green bond program

o Benefits of program for capital markets execution

• Overview of the Commercial ABS market
• Asset Types
• Transaction Roles and Responsibilities
• Structural Features
• Analytical Considerations

• Introduction to Mortgage Servicing Rights (MSRs)
• Discuss financing structures of MSRs
• Reverse MSRs – what are they and how do they differ?
• Key issues, risks and considerations in investing and financing MSRs and Reverse MSRs
• How to minimize risk and exercise remedies
• Overview of Acknowledgement Agreements

• Overview of solar ABS
• Evolution of the sector, including its role within the increased focus on sustainable investments
• Opportunities and challenges
• Recent legislation
• Technological advances

• Introduction to collateralized loan obligations
• What is a CLO?
• CLO Market Overview

• Business purpose of a structured finance transaction
• Parties and structural features
• Discussion of relevant areas of law
• Key components to an RMBS analysis

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NOTE: Doors close at 10:28 AM

• PLS market continues to grow, but remains a fraction of pre-crisis levels
• Work remains around governance, especially relative to standardization, Day One Certainty at GSEs
• Industry compilation of data could serve as a valuable tool to help bring private capital and increase depth & liquidity of market

• State of the consumer sector
• Recent trends and developments
• Regulatory developments impacting the consumer sector

• Where do leveraged loans and CLOs fit in today’s fixed income landscape?
• Have recent credit events impacted the way investors select managers?
• How will Volcker rule amendments change the market?
• What will managers do with this new flexibility?
• How are new electronic platforms disrupting the way CLOs are traded?

• State of CLO market
• Opportunities in CLO debt and equity
• Regulatory trends

• What is SOFR and recap of 2018 SOFR mile markers
• Key events and milestones in 2019 and the effects
• Discussion of what is ahead in 2020
• What are the benefits and drawbacks of multiple benchmarks?

• Is Commercial Real Estate overvalued?
• Are current lending conditions are driving the market to excess? How do you see current lending standards in CMBS, CRE CLOs and loans?
• If a recession is looming, what might cause it and which sectors/ratings would be hit?
• What should investors do?
• Is there a strategy that lets investors pick up a further CRE upside with some recession protection?

• Agency: Originators looking at guide updates and changes to GSEs Automated Underwriting Systems
• Non-Agency: Wide variety of non-QM loans. Non-QM includes jumbo prime, agency-eligible, borrowers with some credit event, and self-employed.
• Discussion of QM looms large, depending on direction CFPB takes

• Discussion around the asset side of CLO Portfolios

o How are you managing collateral tests with the increase in loan downgrades and repricings?

o Does it make sense to shift styles depending on the loan market environment?

• Discussion on the liability side of the equation

o What goes into the decision to do a longer versus shorter deal? Upsides and downsides?

o Any structural features that can help with debt pricing?

• How do FinTech platforms expand US consumer’s access to credit?
• Technology’s impact on consumers’ relationship with their financial well-being
• The impact of Fintech growth been on the corporate borrower
• Discussion of how the securitized products market impacts FinTech’s ability to provide consumer credit
• Developments on the regulatory environment

• Action plan related to existing book of deals
• FHA's recent news
• Legislative relief - what does that mean?
• SOFR language in deal documents

• State of the market
• Recent trends and developments impacting non-agency trading
• Regulatory future of non-agency trading and liquidity

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• Investor demand within structured finance
• State of ESG in our market
• Opportunities for growth
• Challenges for ESG adoption and uptake
• Data & disclosure

• Discuss important considerations from US investor and US issuer perspectives
• Highlights updates with the regulations and speculates on the outlook

• Recent market innovations
• Rating agency evaluation considerations for esoteric
• Future prospects

• Recent trends and developments in the space; looking to expand pool-level risk-sharing structures
• CRT will be a means of removing risk from GSE balance sheet as policymakers work to end conservatorship
• Waiting forthcoming GSE capital rule for capital relief

• Beyond ESG 101 - where are firms today?
• Discussion of product creation - real life product examples; both integration & impact
• The Global Perspective - how is ESG in structured products different in EMEA and Asia?
• Most relevant ESG themes today & what is next?

• Growth prospects
• Regulatory impact on private market

• How is CRT used today? What entities—domestic and foreign—currently utilize CRT?
• How do different CRT structures compare to one another? What are some of the relative advantages of different structures?
• What obstacles exist for CRT to play a larger role in financing, particularly in the mortgage space?
• What role do risk intermediaries like insurance and reinsurance companies play in CRT? What sort of changes could help them achieve scale?
• What regulatory and/or legislative changes should take place in order to help bank achieve scale in CRT?
• From a policy perspective, how can we achieve a level playing field that provides various means of best execution throughout credit cycles, and how will this ultimately benefit borrowers?

• What are some of the challenges institutional investors & investment consultants face when allocating to structured products? How are investors & consultants preparing for market volatility?
• How are structured credit investors/issuers adopting to the changing environment (competition, regulations, investor base, etc.?)
• Structural trends facing managers & investors
• Tax considerations for investing in structured products

• Latest court cases impacting the market
• How these impacts play out in the market
• Actions by trade associations to protect industry from precedent setting rulings

• Discussion of recent trends and developments

 CPE, CLE Accreditation Pending

• Regulatory impact on auto financing
• Recent trends and credit performance

• What do we mean when we use the term "eClosing"?
• What are the key differences between eNotes and paper promissory notes?
• What technology resources are utilized for eClosings & eMortgages? how does the role of a Custodian change with eNotes?
• What are the benefits of eClosing? What risks are mitigated?
• What factors have contributed to the rapid growth in eNote adoption?

• Topics in Aircraft ABS
• Discussion of long-term growth and the significant financing needs
• Historical and recent trends in ABS issuance and global air travel
• Discussion of performance divergence

• Benchmark approach to measuring performance in the securitized space
• Advantages and disadvantages of today’s performance benchmarks
• Examine the different ways investors use benchmarks in their investment strategy
• Explore what an inclusive broad-based benchmark could look like and what that could mean for our sector.

• Transforming of the equipment and transformation space driven by technology and user demands
• Logistics and solutions
• Autonomous transport solutions
• New techniques are being developed

• Discussion of recent trends and developments

• The basics of AI and its many forms and functions
• Practical examples of its current use in financial services and credit decisioning practices
• What the future may hold for this rapidly evolving and impactful technology as it takes center stage in the coming decade

• Why have digital securities been slow to take off?

Mainly tokenized LP interest in funds. When will we see other meaningful deal flow? Many have touted RE as an ideal market…why aren’t we seeing traction here?

• Discuss the current state of (relatively few) ATSs operating in the digital asset space
• Uncertain regulatory approval process for digital securities brokers (B/Ds) [large backlog]
• Issues around recognizing a DLT platform as an official record of ownership
• Look back at how the space evolved in 2019 and discuss what each panelist is excited about in 2020 (and beyond). 

• Data security and information technology complexities within securitization
• The role personally identifiable information plays in securitization
• Protecting PII while providing credit transparency

• SEC; Custody issues (15c3-3), Line of demarcation between security vs. non-security tokens, Hester Peirce’s safe habor proposal
• FinCEN; MSB/MTL issues, Clarity around non-custodial wallets
• NY DFS headwinds
• Successful jurisdictions
• Regulatory arbitrage

• How technology can help firms prepare for the transition
• Recent trends and developments
• Regulatory impact on technological Libor transition tools

• Companies and financial institutions have increased their focus on providing new products and services involving digital assets to meet consumer demand
• Discuss how institutions are leveraging blockchain in capital markets - whether for clearing and settling of securities, custody, or other service offerings
• What lies ahead to enable success?