1. Why is the 65 million loan portfolio a potentially interesting investment? a. Discuss market backdrop b. Characteristics of pool borrowers -are they typical/better etc. c. Potential mortgage flows- can they be forecasted? d. Loan modification impact? How can value be created?

2. What is the loan portfolio's fair market value? How much should Rosetree bid? a. Use DCF to value the pool. b. Economic scenarios are not exhaustive but use your own judgement. c. What discount rate should be used?

3. What do we learn from the case about the cost and difficulty of ameliorating a housing crisis if you are working as a regulator with significant say in the matter?