Mr. Carara joined Five Mile in June 2008. Prior to joining Five Mile, Mr. Carara served most recently as an Executive Director at UBS Investment Bank for eight years where, in 2003, he started and headed the residential distressed whole loan business. As Executive Director, he managed a team which traded various types of residential whole loans and brought to market $2B in new issue ABS deals. For the preceding nine years, Mr. Carara was a First Vice President at PaineWebber where he traded MBS residual and derivative securities. He holds a B.S. in Business from Fairfield University.