Subscribe to Updates in Financial & Business Services

RSS By Email

RSS By RSS

Add to Google Reader or Homepage

Subscribe in Bloglines


The Expertise Imperative and Compliance Technology
Access to a diverse array of specialized expert inputs drives superior decisions in every organizational context: within corporations, by investors and consultancies, and within nonprofits. When decision makers are confident of their decision inputs, they can respond more quickly and creatively to challenges and opportunities.




This page may include content provided by Council Members, your access to which is subject to the Terms of Use.
Find Out More

Joseph Smith, II

President & CEO
Default Mitigation Management
Member of the Financial Services Council

Joseph Smith is the President and Chief Executive Officer at Default Mitigation Management (DMM), an industry leader in mortgage workouts. DMM works with both borrower and the lender to resolve defaulted loans. The firm has worked or is working with the following lenders: US Bank, Kentucky Housing, Saxon Mortgage, Citi Mortgage, EMC, Principal Residential, Fifth Third, Cenlar, UBS, New South Federal, Peoples Community Bank, Bank of Kentucky, Fremont Investments, and Litton Loan Servicing. Prior to DMM, he was the EVP and founder of Mortgage Servicing at Provident Bank where he built a $20 Billion servicing platform. Mr. Smith's areas of expertise include origination, portfolio Management and due-diligence, credit/risk management, and mortgage servicing. He was also the founder of CARES (Committee for Actual Real Estate Solutions) which has been asked by a bi-partisan group of the Senate banking Committee to draft loss mitigation legislation. (This is me - Update Profile)


Employment History
2002 - present President & CEO
Default Mitigation Management
1997 - 2002 EVP, Mortgage Servicing
PROVIDENT BANK

GLG Study Groups with Joseph Smith, II(?)

View All Study Groups with Joseph Smith, II

GLG NewsSM Analyses by Joseph Smith, II(?)

Opinions and analyses expressed in GLG News are solely those of the author. See the Terms of Use for details.
UBS Pain far from Over | 05-28-2008
Analysis of: UBS Falls After Saying More Mortgage Losses Possible | www.bloomberg.com
Author: Joseph Smith, II, President & CEO, Default Mitigation Management

The news is not good for UBS. The amount of mortgage holdings in US and Non-US declining markets will lead to further losses. 1. $45 B of additional US Mortgage Holdings. 2. An undisclosed amount of non-US mortgage holdings. 3. A UK and Eurpoean mortgage market that is going down as well. 4. The slump...

The Real Write Downs - Whats in a number | 05-27-2008
Analysis of: Banks Keep $35 Billion Markdown Off Income Statements | www.bloomberg.com
Author: Joseph Smith, II, President & CEO, Default Mitigation Management

The article is right on target in pointing out the various issues around bank reporting their losses todate. 1. Allowable accounting standards. 2. Permanent versus Temporary Losses 3. Capital Requirments The article goes on to highlight the various issues around soveriegn wealth funds, capital levels...

Whose loss is it, Banks or Investors? | 05-12-2008
Analysis of: The Biggest Housing Losers | online.wsj.com
Author: Joseph Smith, II, President & CEO, Default Mitigation Management

1. While the article does a good job of pointing out that the losses will be greater under the House FHA Plan than expected and that the tax payers will carry the cost, it along with the plan by the House  misses the mark by thinking banks will take advantage of the plan. 2. The real owners of...

Fannie, Freddie and FHLB's are providing funding for now. | 04-10-2008
Analysis of: Fannie and Freddie drive home loans | www.ft.com
Author: Joseph Smith, II, President & CEO, Default Mitigation Management

Through mid 2008 these will continue to be the drivers of home loan financing. Coming up quickly will be HUD/FHA. The unkown related player will be community banks, credit unions and small regionals. There is a problem that is already surfacing, add on fees by the banks using these groups for fundi...

View All GLG News SM Analyses by Joseph Smith, II

GLG InstituteSM Seminars with Joseph Smith, II(?)

 
Joseph Smith, II has not participated in any GLGi Seminars.
View all GLG InstituteSM Seminars in Financial & Business Services

Request a project with Joseph Smith, II








GLG's 750+ Clients Include:

40 of the leading 50
global mutual funds
15 of the leading 20
global banks
8 of the leading 10
private equity firms
90%+ client subscription renewal rate

Analytics