Santa Barbara Luncheon Series – The Secondary Market for Seasoned Residential Mortgage Loans
David L. Solomon will walk you through the history of the U.S. secondary residential mortgage market. He will touch upon the early days when savings, loans and simple securitization structures were high on the agenda. David will elaborate on the Tax Reform Act of 1986 and its unforeseen consequences, and explain how the savings & loan crisis as well as the manufactured housing in the late 90’s were the roadmap for the 2008 mortgage crisis. He will get behind the scenes of “The Big Short", the national mortgage settlement with the top five commercial banks and where we are today in the non-performing mortgage market.
In 1993, Mr. Solomon became the President of The Mortgage Acquisition Corporation (“TMAC”). TMAC’s primary selling customer was the RTC, and many of the techniques used today for evaluating, buying and selling whole loans, including the forms of agreements, were developed at that time.
In 1996, Mr. Solomon formed his own investment bank, which focused on residential and commercial whole loans. He rejoined TMAC as President in 2002 and began working with WM Daugherty & Co. in a joint venture capacity. They formalized their relationship in 2005 and Mr. Solomon became President of WMD Capital Markets, LLC, where he led the residential and manufactured housing whole loan efforts for almost 9 years.
In 2015, shortly after forming DLSolomon, LLC, he became an Investor and Sub-Manager for the newly formed Trifera, LLC.
$10 (Members) | $15 (Non-Member)
We accept the following:
If you prefer to pay by check please register online and select "purchase order" as your payment option and enter your last name as the purchase order number.
Mail check to:
CFA Society of Los Angeles, 520 S. Grand Ave, Suite 655, Los Angeles CA 90071.
*Credit card payments will only be accepted through the secure online registration, and not by phone or email.
Cancellations must be received in writing by 9:00 am the day prior to the event. No phone cancellations are accepted. Please fax to the CFALA office at (213) 613-1233 or e-mail firstname.lastname@example.org. Member “no-shows” will be billed the non-member fee ($15) for the event which is posted on the CFALA website.
Falko Hörnicke, CFA®, CFP® & George Tharakan, CFA
|As a participant in the CFA Institute Approved-Provider Program, the CFA Society of Los Angeles has determined that this program qualifies for 12 credit hours. If you are a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE Diary.|