Upcoming Event
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Sponsored by the Federal Reserve Bank of San Francisco, the Office of the Comptroller of the Currency and the U.S. Department of Housing and Urban Development.
Monday, November 9, 2009
8:30AM to 12:30PM
Federal Reserve Bank of San Francisco - Los Angeles Branch
950 S Grand Avenue at Olympic Blvd
Los Angeles, CA 90015
Parking is available at nearby parking lots on Olympic.
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There is no charge, but advanced registration is required.
A hot breakfast will be served. |
Questions? Contact Melody Winter Nava, Federal Reserve Bank of San Francisco, at 213-683-2932.
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Challenges and Opportunities for Homeownership in a Changing Financial Environment
The fall CRA Roundtable in Los Angeles will focus on the topic of sustainable homeownership and you're invited to participate!
We'll be putting homeownership into a broader context by asking, "What role does homeownership play in comprehensive community development today? We will examine the goal of homeownership and how it should defined or redefined, asking ourselves who should be homeowners?" We will then have two panels with special guest speakers. The first panel will begin with a presentation on the impacts of foreclosure on communities of color and will lead into a panel discussion of the available products that promote homeownership and the best regulatory environment to sustain it.
The second panel will begin with a presentation on the interventions intended to promote homeownership, with a look back at previous efforts and lessons learned from them. The panel will then discuss the tools in the market today and how they help or hinder the cause, along with a discussion of the effectiveness and necessity for financial education as part of the loan process.
The roundtable is designed to reach CRA officers, community lending staff, bank managers, CDFI staff, and other community organizations interested in the issues of sustainable homeownership in Los Angeles.
Please have a look at the agenda below and be on the lookout for online registration instructions to follow shortly!
The Untold Costs of Subprime Lending: The Impacts of Foreclosure on Communities of Color in California
Dr. Carolina Reid, Community Development Research Group
Federal Reserve Bank of San Francisco
Empirical analysis of the impacts of foreclosure on families and communities has been limited by the lack of data that combines information on borrowers by race and income with information on loan performance. This presentation will provide initial analysis of the effects of the foreclosure crisis on individuals and communities of color in California, and will discuss the implications of these findings for homeownership and asset building. Panel discussion: Carolina will join a panel of knowledge experts for a conversation about such questions such as "What is the right product to promote homeownership?", "What is the right regulatory environment?" and "How do we create sustainable homeownership?" |
| 10:30 am |
Networking Break |
| 10:45 am |
Re-examining Efforts to Promote Homeownership: What Have We Learned from the Foreclosure Crisis?
Dr. Christopher Herbert, Senior Associate, Abt Associates. Boston, MA
Efforts to promote homeownership cover a broad range of interventions, including mortgage market regulation, direct subsidy programs, and support for housing counseling. In his talk, Dr. Herbert will review what we know about which efforts worked and which didn't work to promote sustainable increases in homeownership since the early 1990's and how lessons from the foreclosure crisis should shape future efforts.
Panel discussion: Christopher will join a panel of knowledge experts to discuss questions such as "What tools are available in the market today to sustain homeownership?" "How are underwriting guidelines assisting in increasing the rate of homeownership after the foreclosure crisis?" "How prominent is financial education in the mix?" "Where do refinances fit in?" |
| 12:15 pm |
Closing remarks, Melody Winter Nava, Federal Reserve Bank of San Francisco, Los Angeles branch |
| 12:30 pm |
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