Epstein Secrets

rest-rate and foreign exchange-rate risks. Mortgage-backed Securities ("Mal) and Asset-backed Securities ("ABS') Some investment characteristics of MBS and ABS differ from traditional debt securities. Among the major differences are that interest and principal payments are made more frequently, usu

ees compliance, legal, and regulatory functions, along with management controls and internal audit. Mr. Lorne had been a partner in the law firm of Munger, Tolles & Olson LLP, which he rejoined in 1999 after originally becoming a partner in 1972. In 1996, he became a Managing Director at Salomon Brothers where he served

to defaults and foreclosures) occur on loans and other assets ML281817-MAXWELL 11-29 CONFIDENTIAL UBSTERRAMAR00002445 EFTA00238001 underlying MBS and ABS will be affected by a variety of factors including the prevailing level of interest rates as well as economic, demographic, tax, social, leg

ees compliance, legal, and regulatory functions, along with management controls and internal audit. Mr. Lorne had been a partner in the law firm of Munger, Tolles & Olson LLP, which he rejoined in 1999 after originally becoming a partner in 1972. In 1996, he became a Managing Director at Salomon Brothers where he served

tions due to defaults and foreclosures) occur on loans and other assets MAXWELL 11-29 CONFIDENTIAL UBSTERRAMAR00001392 EFTA00237038 underlying MBS and ABS will be affected by a variety of factors including the prevailing level of interest rates as well as economic, demographic, tax, social, leg

ees compliance, legal, and regulatory functions, along with management controls and internal audit. Mr. Lorne had been a partner in the law firm of Munger, Tolles & Olson LLP, which he rejoined in 1999 after originally becoming a partner in 1972. In 1996, he became a Managing Director at Salomon Brothers where he served