MODEL PRICES VERSUS SECONDARY MARKET PRICES : Richard Cooperstein

Richard Cooperstein is Head of Model Development and Analytics for Gleacher and Gleacher RangeMark. Prior to joining Gleacher RangeMark, Dr. Cooperstein founded Cooperstein Analytics, a software development and consulting firm. He was Head of Fixed Income Modeling and Analytics for the Ranieri affiliated companies from 2007 to 2010, ran HSBC’s US Mortgage Analytics from 2004 – 2008, was chief risk officer at RMIC 2002 – 2004 managing $70 billion of insurance in force, and Vice President at Freddie Mac, where he rebuilt that organization’s mortgage default and prepayment models and managed the bulk acquisition and subprime principal finance guarantee businesses. As Senior Economist at the Office of Management and Budget, he applied option pricing theory to value the financial guarantees of the Federal Government and was one of the architects of Credit Reform. Dr. Cooperstein received his Ph.D. in Economics from the University of Maryland in 1985.