Jeremy R. Calva is the President & CEO of PIR Capital LLC. In addition to serving as the Chairman, he has primary responsibility for the company’s operations. Mr. Calva started his career developing affiliate credit card settlement daily reconciliation procedures for M&I Bank, the nation’s seventh largest credit card processor. He is a licensed CPA, which was earned while working at Arthur Anderson LLP’s in their Audit Assurance, Enterprise Consulting and Computer Risk Management practices. He has a diverse background in capital markets and credit analysis. Prior to forming PIR Capital, he was Vice President of Investment Operations at Western Corporate Federal Credit Union. In this role he was a key member of the Investment Leadership Team, Investment Strategy Committee, and ALSC, while directing planning, product development, system selection and implementation, securities loss reviews, third party analysis reviews, loss and recovery modeling, ALM modeling, and division administration.
A graduate of University of Wisconsin Madison, with a BBA in Accounting and Marketing, Mr. Calva is an active CPA, Certified Treasury Professional (CTP), Certified Forensic Accountant (Cr.FA) and Certified in Financial Forensic (CFF).
PIR Capital LLC was established to rectify some of the systemic problems within the financial services industry. Poor underwriting coupled with exception approvals on already lenient guidelines, add sufficient portions of conflicts of interest between master servicers and originators, fold in trustees following stringent interpretations of their roles and nationwide home price depreciation and investors have created a recipe for disaster.
Our team combines capital markets, fixed income, treasury and forensic auditing techniques together to provide results measured in direct loss mitigation and recovery.
What's wrong with today's surveillance?
Surveillance has traditionally been based on fundamental principals that failed to protect investors. Over-reliance on rating agencies, misinterpretations of trustee roles, and the primary historical role of surveillance reporting brought us to where we are today. The surveillance role was built around passive reporting and monitoring statistics. In today's market an evolutionary shift has taken place within the securities surveillance arena. This shift moves away from solely reporting and targets loss mitigation and recovery.