Navigating Uncertain Water: Mortgage Lending in the Wake of the Great Recession

  • Friday, February 4th 2011

On February 4, 2011, the Furman Center’s Institute for Affordable Housing Policy hosted an invitation-only Roundtable, “Navigating Uncertain Waters: Mortgage Lending in the Wake of the Great Recession.” The event aimed to assist government, corporations, academics and non-profits address the challenge of mortgage credit need and availability by promoting informed discussion and providing objective research and analysis. The roundtable included three robust discussion sessions and presentations on the current state of housing finance and recommendations for reform.

A full report on the conference is available here

Opening Presentation: Mortgage Lending in the Wake of the Great Recession
Presenter: Josiah Madar, Research Fellow, Furman Center for Real Estate and Urban Policy
Discussant: Raphael Bostic, Assistant Secretary for Policy Development and Research, US Department of Housing and Urban Development

Discussion Session I: Measuring Borrower Creditworthiness: Ability and Willingness to Pay
Kenneth P. Brevoort, Senior Economist, Federal Reserve Board
Joanne M. Gaskin, Director, Global Scoring Solutions, FICO
Chris Krehmeyer, President and CEO, Beyond Housing
George McCarthy, Director, Metropolitan Opportunity, Ford Foundation
Michael A. Shaw, Executive Vice President & Enterprise Risk Officer, Fannie Mae
Moderator: Ingrid Gould Ellen, Faculty Co-Director, Furman Center for Real Estate and Urban Policy

Keynote Presentation: A Framework for a Reformed Housing Finance System
Michael Barr, Professor of Law at the University of Michigan Law School
Read Michael Barr’s Speech Here

Discussion Session II: The Collateral:  Impacts on Risk
David Berenbaum, Chief Program Officer, National Community Reinvestment Coalition
Austin Kelly, Assoc. Director, Housing Finance Research, Federal Housing Finance Agency
Jonathan J. Miller, President and CEO, Miller Samuel Inc.
Leonard Nakamura, Vice President and Economist, Research Department, Federal Reserve Bank of Philadelphia
Jeffery Polkinghorne, Director of Origination Risk, CitiMortgage
Moderator: Vicki Been, Faculty Director, Furman Center for Real Estate and Urban Policy

Discussion Session III: The Government Role as the Private Sector Returns: Assessing the Need for Intervention
Judd S. Levy, Chairman, New York State Housing Finance Agency, State of New York Mortgage Agency
Patrick McEnerney, Managing Director, Deutsche Bank
Ellen Seidman
John C. Weicher, Director, Hudson Institute’s Center for Housing and Financial Markets
Moderator: Mark Willis, Resident Research Fellow, Furman Center for Real Estate and Urban Policy