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Mortgage Foreclosures and the Future of Housing Finance
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Mortgage Foreclosures and the Future of Housing Finance

  • Overview
  • Speakers
  • Agenda
  • Accommodations
  • Conference Materials
  • Registration
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October 25-26, 2010

 

The Federal Reserve System and the Federal Deposit Insurance Corporation (FDIC) are co-hosting a two-day conference highlighting policy-oriented research focused on U.S. housing and mortgage markets. The conference will emphasize two major issues:  mortgage foreclosures and the future of housing finance.  We will evaluate the current foreclosure situation, emphasizing the adverse neighborhood spillover effects and evaluations of efforts to mitigate foreclosures including loan modification efforts. We will also take a broader perspective and evaluate the future of housing finance. This will include an evaluation of the mortgage interest tax deduction, affordable housing issues, the future role of government-sponsored entities, the future of private-label mortgage securitization, the viability and role of private mortgage insurance, and the role of the Community Reinvestment Act.

 

In addition to research sessions we will also have three special policy panels discussing The Future of Housing Finance, Mortgage Modification Issues and The Future of the Housing GSEs."

 

Information on conference presentations is available on the Conference Materials tab.

10/25/10
7:00 AM
Registration and Continental Breakfast
8:30 AM
Welcoming Remarks

Ben S. Bernanke,  Chairman,  Board of Governors of the Federal Reserve System

  • Comments
8:40 AM
Policy Panel: The Future of Housing Finance

Moderator

Daniel G. Sullivan,  Executive Vice President and Director of Research,  Federal Reserve Bank of Chicago

Panelists

David S. Scharfstein,  Harvard Business School

Susan M. Wachter,  University of Pennsylvania

Andrew Davidson,  President,  Andrew Davidson and Co., Inc.

Martin Eakes,  Chief Executive Officer,  Center for Responsible Lending

Alex J. Pollock,  American Enterprise Institute

10:20 AM
Break
 
Policy Panel: Mortgage Modification Issues and Policy

Moderator

Seth Wheeler,  Former Senior Advisor,  U.S. Department of the Treasury

Panelists

Paul S. Willen,  Federal Reserve Bank of Boston

Adam J. Levitin,  Georgetown University

Richard A. Brown,  Federal Deposit Insurance Corporation

Douglas A. Mcmanus,  Freddie Mac

12:30 PM
Luncheon and Keynote

Speaker

Sheila C. Bair,  Chairman,  Federal Deposit Insurance Corporation

  • Comments
2:00 PM
Loan Renegotiation and Performance

Moderator and Discussant

Amit Seru,  University Of Chicago

  • Strategic Loan Modification: An Options-Based Response to Strategic Default

Sanjiv R. Das,  Santa Clara University

Ray Meadows,  Hult International Business School and the Recovery Company

  • Residential Mortgage Renegotiation during the Great Depression

Andra C. Ghent,  Baruch College

  • Market-Based Loss Mitigation Practices for Troubled Mortgages Following the Financial Crisis

Sumit Agarwal,  Federal Reserve Bank of Chicago

Gene Amromin,  Federal Reserve Bank of Chicago

Itzhak Ben-David,  Ohio State University

Souphala Chomsisengphet,  Office of the Comptroller of the Currency

Douglas D. Evanoff,  Federal Reserve Bank of Chicago

3:40 PM
Break
4:05 PM
Mortgage Choice

Moderator and Discussant

Edward S. Prescott,  Federal Reserve Bank of Richmond

  • Mortgage Choices and Housing Speculation

Gadi Barlevy,  Federal Reserve Bank of Chicago

Jonas D. M. Fisher,  Federal Reserve Bank of Chicago

  • $1.25 Trillion Is Still Real Money: Some Facts about the Effects of the Fed’s Mortgage Market Investments

Andreas Fuster,  Harvard University

Paul S. Willen,  Federal Reserve Bank of Boston

5:30 PM
Reception
10/26/10
7:30 AM
Registration and Continental Breakfast
8:15 AM
Policy Panel: The Future of Housing GSEs

Moderator

Deborah J. Lucas,  U.S. Congressional Budget Office and Massachusetts Institute of Technology

Panelists

Dwight Jaffee,  University of California-Berkeley

Wayne Passmore,  Board of Governors of the Federal Reserve System

Michael H. Krimminger,  Federal Deposit Insurance Corporation

Philip L. Swagel,  Georgetown University

Larry Cordell,  Federal Reserve Bank of Philadelphia

10:10 AM
Break
10:35 AM
Secondary Mortgage Markets

Moderator and Discussant

Laurie S. Goodman,  Amherst Securities

  • Can Securitization Work? Economic, Structural and Policy Considerations

Timothy J. Riddiough,  University of Wisconsin – Madison

  • A Contrast of Ex Ante and Ex Post Relations in the Mortgage Market

Wei Jiang,  Columbia University

Ashlyn Nelson,  Indiana University

Edward Vytlacil,  Yale University

  • Adverse Selection in Mortgage Securitization

Sumit Agarwal,  Federal Reserve Bank of Chicago

Yan Chang,  Freddie Mac

Abdullah Yavas,  University of Wisconsin

12:30 PM
Luncheon
2:00 PM
Loan Renegotiation and Redefault

Moderator and Discussant

Brent W. Ambrose,  Pennsylvania State University

  • Foreclosure's Wake: The Credit Experiences of Individuals Following Foreclosure

Kenneth P. Brevoort,  Board of Governors of the Federal Reserve System

Cheryl R. Cooper,  Urban Institute

  • Mortgage Modification and Strategic Default: Evidence from a Legal Settlement with Countrywide

Christopher Mayer,  Columbia Business School

Edward Morrison,  Columbia Law School

Tomasz Piskorski,  Columbia Business School

Arpit Gupta,  Columbia Law School

  • The Depth of Negative Equity and Mortgage Default Decisions

Neil Bhutta,  Board of Governors of the Federal Reserve System

Jane Dokko,  Board of Governors of the Federal Reserve System

Hui Shan,  Board of Governors of the Federal Reserve System

3:40 PM
Break
 
Home Ownership Policies

Moderator and Discusant

Robert B. Avery,  Board of Governors of the Federal Reserve System

  • Affordable Housing Goals and Single-Family Mortgages Acquired by the GSFs

Robert Seiler, Jr.,  Federal Housing Finance Agency

  • How Sensitive are Homeownership Decisions to Mortgage Interest Tax Subsidies

Christian A. Hilber,  London School of Economics

Tracy M. Turner,  Kansas State University

  • Constructive Credit: Revisiting the Performance of Community Reinvestment Act Lending during the Subprime Crisis

Elizabeth Laderman,  Federal Reserve Bank of San Francisco

Caroline Reid,  Federal Reserve Bank of San Francisco

 

 

 

Last Updated: 10/01/2010

Conference Presentations

Event Information
Date
10/25/10 - 10/26/10
Location
L. William Seidman Center
Main Auditorium C-3050
3501 Fairfax Dr
Arlington, VA 22226

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