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WHF Brown Bag Lunch: LIBOR Transition: Implications for the U.S. Housing Market
Navigant
1200 19th Street NW, Suite 700
Washington, DC 20036
Monday, December 09, 2019, 12:00 PM - 1:00 PM EST
Category: Events

WHF Brown Bag Lunch: LIBOR Transition: Implications for the U.S. Housing Market

The program will discuss the transition away from LIBOR and in particular, the implications of that transition for the U.S. housing market.


Speakers: 
Dan Fichtler
, Mortgage Bankers Association  
Jon Updike, Fannie Mae  
Pete Barbera, Navigant 

Date: December 9, 2019   
Time: 12:00 - 1:00 pm 
Location: Navigant, 1200 19th Street, Suite 700, Washington DC 20036
Metro: Farragut North & West

 

Register Here



Speaker Bios

Dan Fichtler is Associate Vice President of Housing Finance Policy at the Mortgage Bankers Association. In this role, he is responsible for developing MBA's policy work related to loan production issues, including the government housing programs operated by FHA, VA, and USDA, as well as secondary and capital markets issues, including agency and non-agency securities markets and the activities of FHFA, Fannie Mae and Freddie Mac, Ginnie Mae, and the Federal Home Loan Banks.  Prior to joining MBA, Dan was a policy advisor at the U.S. Department of the Treasury, where he served on the staff of the Financial Stability Oversight Council. He has also served as an advisor to the majority staff of the Senate Banking Committee, during which time he helped draft the Johnson-Crapo housing finance reform legislation. 

Dan holds a Bachelor's degree in Economics and Political Science from Colgate University and a Master's in Public Affairs from the Woodrow Wilson School at Princeton University.

Jon Updike is a Senior Portfolio Manager at Fannie Mae with over 13 years' experience with the firm. He is responsible for the team that trades all To-Be-Announced (TBA) lender flow and hybrid Adjustable Rate Mortgage (ARM) MBS. Prior to his current role, he worked on Fannie Mae's retained investment portfolio and Whole Loan Conduit.

Jon is a lead in the Fannie Mae’s enterprise-wide London Interbank Offered Rate (LIBOR) Transition efforts and represents the firm on several of the Alternative Reference Rates Committee's (ARRC) working groups. He also represents Fannie Mae in the joint effort with Freddie Mac, FHFA, and the ARRC's Consumer Loans working group, to research, develop and recommend the first draft of a SOFR-indexed Single-Family ARM product.

He graduated from Wake Forest University with a Bachelor of Science in Mathematical Economics.

Pete Barbera is a Director in the Banking, Insurance and Capital Markets Practice at Navigant, a Guidehouse Company.  Pete has over 25 years of experience primarily focused in financial reporting, operations, risk management, internal controls and compliance.  He has extensive experience in all aspects of accounting operations and policy and has leveraged his experience in providing audit, advisory and litigation support services during his career.   

At a financial institution, Mr. Barbera is currently leading a LIBOR replacement project to stand-up the governance program, construct an inventory of the client’s exposure to LIBOR and develop a transition project plan.  Also, at Navigant, he has assisted counsel in assessing the adequacy of the allowance for loan loss and related financial disclosures in conjunction with one of the biggest bank failures in U.S. history, assisted a central bank in developing accounting policies and procedures for a fund of securities, loans, and derivatives pursuant to International Financial Reporting Standards, assisted in representing a client in an SEC whistleblower investigation, managed various teams during two significant restatement projects and assisted various clients with operational and internal controls / Sarbanes-Oxley (SOX) compliance testing and assessments.  

Prior to joining Navigant, Pete was the Director of Derivatives Accounting at Fannie Mae, responsible for the accounting, financial reporting, and Sarbanes-Oxley compliance of the company’s derivative position which approximated $1 trillion in notional amount.  Prior to Fannie Mae, he was a member of the Consumer Finance Group at PricewaterhouseCoopers, LLP.  At PwC, Pete performed various audit and business advisory services for large financial service companies.  Prior to PwC, he has a member of the accounting departments of HomeSide Lending, Inc. and Alliance Mortgage Company (currently Everbank).