News and spotlights

Bates White’s Matthew Long and Karl Snow speak at IQPC’s Subprime and Structured Finance Litigation conference

WASHINGTON DC, November 18, 2008— Bates White Partners, Matthew Long and Karl Snow participated in the International Quality & Productivity Center’s (IQPC) conference “Subprime and Structured Finance Litigation: Defense Strategies for the Growing Wave of Litigation” in New York NY on November 18 and 19, 2008.

Dr. Snow spoke during the opening session, “Updating on the Overall State of Litigation,” which covered an analysis of the consequences of the credit crisis and an evaluation of loan types and indices. In his presentation, “Subprime & Structured Finance Litigation: An Economic Overview,” Dr. Snow discussed how the problems that began in the subprime mortgage litigation have spilled over into other areas of the mortgage industry and the capital markets.

In addition, Dr. Snow and Mr. Long conducted a post-conference workshop, “Subprime Mortgage Origination and Securitization Process.” During this workshop, they explored the subprime mortgage origination market and explained its pricing structures, underwriting systems, and reps and warrants. They also discussed the securitization and re-securitization process, reviewing major features and drivers, economic and mark-to-model issues, and the roles and incentives of major industry players.

Matthew M. Long has extensive expertise in the consumer finance industry and executive-level experience managing consumer finance businesses and applying advance analytical procedures to consumer finance products. He has also consulted to multiple consumer finance companies, including one of the largest mortgage originators. In this capacity, Mr. Long provided advice on risk analysis, pricing disparities, risk-based pricing, loan economics, and other statistical analysis. He has also provided due diligence, discounted cash-flow analysis, and other valuation-related analysis to investors in the consumer finance business. In addition to his consumer finance expertise, Mr. Long is an expert in financial, strategic, and economic issues surrounding product liability litigation.

Karl N. Snow has more than 15 years of experience working in academia, in the investment banking and mortgage finance industries, and as an economic consultant specializing in labor and employment issues. Dr. Snow has evaluated claims of race, national origin, gender, and age discrimination in a wide variety of employment practices, including salary, total compensation, bonuses, promotions, performance ratings, hiring, and dismissals. He has also consulted on a wide range of additional employment issues, including many types of claims based on the Fair Labor Standards Act (FLSA) and related state laws. Dr. Snow has significant experience calculating economic damages and estimating the value of financial securities. He has submitted expert reports in federal court and worked with clients in a wide range of industries. Dr. Snow has taught courses and presented workshops on finance and economic topics at academic institutions in Europe and the United States.

About Bates White
Bates White LLC is a consulting firm offering services in economics, finance, and business strategy to leading law firms, Fortune 500 companies, and government agencies. We provide our clients with a unique combination of quantitative and analytical expertise and an understanding of business issues across a range of industries. Bates White has offices in Washington DC and San Diego CA. For more information, visit: www.bateswhite.com.