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Korea Mortgage Corporation “KoMoCo” PowerPoint PPT Presentation


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Korea Mortgage Corporation “KoMoCo”. Washington D.C. March 15, 2001. Objectives. Meeting among : Merrill Lynch, Fannie Mae, MorBanc (M. BeVier), and IFC (J-M Masse / S. Ee / P. Lamoreaux Open exchange of views on lessons learnt so far with KoMoCo - positive and negative

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Korea Mortgage Corporation “KoMoCo”

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Korea mortgage corporation komoco l.jpg

Korea Mortgage Corporation“KoMoCo”

Washington D.C.

March 15, 2001


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Objectives

  • Meeting among :

    • Merrill Lynch, Fannie Mae,

    • MorBanc (M. BeVier), and

    • IFC (J-M Masse / S. Ee / P. Lamoreaux

  • Open exchange of views on lessons learnt so far with KoMoCo - positive and negative

  • Experiences so far with Senior Resident Advisors


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Specifics

  • Share MorBanc report on KoMoCo performance

  • Understand status on ITTA provided by Fannie Mae and planned posting of an expatriate

  • KoMoCo issued KRW1.2 trillion MBS in 2000 and plans KRW1.8 trillion MBS in 2001 (based on business plan)


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Next Steps for IFC

  • Utilise the US$85 million credit enhancement line - and enhance practices at KoMoCo in doing so

    • domestic MBS structuring, information memorandum, credit rating, pre-payment risk, timetable, secondary market liquidity in few years, etc.

  • Provide inputs at Board level

    • through Michael BeVier


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KoMoCo

  • Securitization of NHF loan portfolio

  • Good Pdt Lee

  • Good FTP

    Future

  • IPO/KOSDAQ

  • On its way to become a large company

KoMoCo #2 ?

  • Home mortgage servicing complementing H&CB services/KoMoCo MBS

  • Training of home mortgage originator staff + implement underwriting criteria

  • Warehousing of home mortgages prior to sell to KoMoCo for securitization

  • Shareholders ? NBFI ?


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