Risky Business

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Special Advertorial Section Feature Vice Capital Markets Vice Capital Markets "Maximizing Your Execution" CORPORATE PROFILE Corporate Headquarters key personnel Chris Bennett CEO Troy Baars President Shawn Ansley VP Quantitative Analytics Now in its 13th year of service to the mortgage banking community, Vice Capital Markets has grown from being just the dominant hedge advisory firm in the Midwest to one of the preeminent national hedging firms. While it specializes in full-service hedging, including optimal execution of newly originated mortgage loans within its hedging platform, the company also has a number of clients who prefer to do all trading themselves and utilize Vice Capital for position reporting, analytics, and related services. The programs available through the hedging platform are all custom designed and set up for each client's specific needs. BUSINESS SCOPE contact information Victoria DeLuce 248.869.8100 39555 Orchard Hill Place Suite 240 Novi, Michigan 48375 Phone: 248.869.8100 Fax: 248.869.8201 Web: Vice Capital Markets partners with banks and mortgage companies across the country ranging in size from $15 million a month to more than $6 billion a year in closed loans. The company also has long standing relationships with primary, regional, and institutional broker/dealers along with all top tier investors and agencies with whom it traded more than $4 billion monthly in mortgage and MBS transactions in 2012. Vice Capital continues to stay on top of all tier-1 and emerging investors to make sure its clients can truly maximize their executions. COMPANY HISTORY Founded in 2001 by Chris Bennett, a Michigan native who got his start in trading in the futures markets in the late '80s, Vice Capital's formula for success has always been driven by an effort not only to offer the most precise fallout and position modeling, but also to provide service levels that are continually beyond expectations. Vice Capital doesn't have salespeople or a marketing department—the focus is on serving its current clients, and not on trying to grow as quickly as possible. Every one of its current clients has come to Vice Capital as a referral, which is more valuable than any solicitation. From small beginnings and the first three clients that first year, Vice Capital has slowly and steadily grown each year, trading $44 billion in 2012. Its senior management team boasts an average of more than 15 years' experience either in secondary and capital markets or with the firm itself. 34 | The M Report COMPETITIVE ADVANTAGE Vice Capital provides one of the most comprehensive Full Master Fallout Analysis reports in the industry with multi-faceted Stress-Test analyses. Its position report is custom-built uniquely for each client based upon that client's own historical data, dynamically run daily, and for client's ease is designed to be understood at a glance. Vice Capital also offers retained vs. released analysis and specified pool analysis in addition to daily core best execution models. At Vice Capital, you won't be handed over from a sales person to a junior trader. Many members of its staff know what it is like to run a secondary department and their expertise and familiarity with many types of executions and investors are guaranteed to yield superior results. Vice Capital performs all daily and intra-day core position trading and management for all full service clients. In addition, Vice Capital can handle the allocation and sale of all hedged newly closed inventory using custom client-driven best execution models, including all AOT paperwork, with all approved top-tier trade desks. Any deals or incentives helps negotiate accrue 100 percent to the clients' benefit—there is no "split", and the company does not allow any "kickback" structures. Clients can be confident that all execution decisions will be made in their best interest, and not anyone else's. KEYS TO SUCCESS Vice Capital boasts the lowest annual client turnover rate in the industry at under 5 percent. This is largely due to the fact that the company is in it for the long haul—no contracts, just agreements, and no upfront costs or set-up fees. Vice Capital is quite selective with regard to which firms it will take on as new accounts to ensure it continues to provide great service to all new and existing clients.

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