International conference on collateral risk: Moderating housing cycles and their systemic impact

Cosponsored by the Collateral Risk Network, Robinson College of Business at Georgia State University, and AEI

Wednesday, July 31, 2013 | 8:10 a.m. – Thursday, August 01, 2013 | 1:15 p.m.

AEI, Twelfth Floor
1150 Seventeenth Street, NW
Washington, DC 20036

RSVP

International conference on collateral risk: Moderating housing cycles and their systemic impact

Wednesday, July 31, 2013 | 8:10 a.m. – Thursday, August 01, 2013 | 1:15 p.m.

AEI, Twelfth Floor 1150 Seventeenth Street, NW Washington, DC 20036

About This Event

Though policy responses to and studies about the causes of the US housing crisis abound, the relationship between collateral value and housing cycles has received scant attention. The summer 2013 conference — cosponsored by the Collateral Risk Network, Robinson College of Business at Georgia State University, and AEI — will focus on housing cycles and their domestic and international systemic impact. Experts from the US, Europe, Canada, and Asia will address efforts and proposals to moderate housing cycles by using countercyclical lending policies.

More than 150 people attended last year’s conference. At this year’s conference, Karl Case, cofounder of the S&P/Case-Shiller Index of Real Estate Prices, will give a keynote address and will be designated as a Bowles Distinguished Scholar. A dinner keynote by Bill Isaac, chairman of Fifth-Third Bank and former chairman of the Federal Deposit Insurance Corporation, will conclude the first day of the conference. Overall, you will hear from six panels of experts from academia, the appraisal industry, the financial community, and regulatory bodies.

We welcome you to participate in person or to watch the event live on this page. Full video will be posted within 24 hours.

Agenda

Day 1
Wednesday, July 31

7:45 AM
Registration and Breakfast

8:10 AM
Welcoming Remarks:
Edward J. Pinto, AEI
Joan Trice, Collateral Risk Network
Shaun Wang, Robinson College of Business at Georgia State University

8:30 AM
Panel I: The historical perspective — two examinations of housing cycles

Presenters:
Stephen D. Oliner, AEI
Shaun Wang, Robinson College of Business at Georgia State University

Discussants:
Robert Dorsey, FNC Inc.
Norrine Brydon, Marshall & Swift

Moderator:
Edward J. Pinto, AEI

10:15 AM
Break

10:30 AM
Panel II: Fundamentals of value

Presenters:
Robert Avery, Federal Housing Finance Agency
Andrew Bruce, Zillow
Jed Kolko, Trulia

Discussants:
Morris Davis, Wisconsin School of Business at the University of Wisconsin–Madison and AEI
TBD, Security Industry and Financial Markets Association

Moderator:
Stephen D. Oliner, AEI

12:00 PM
Buffet Lunch and Bowles Distinguished Scholar Designation

Keynote Address:
Karl Case, Wellesley College

1:30 PM
Panel III: International approaches to value and systemic risk

Presenters:
Maurizio d'Amato, Technical University Politecnico di Bari
Santiago Herreros de Tejada, Grupo Sociedad de Tasación
Reiner Lux, HypZert
Finn Poschmann, C.D. Howe Institute

Moderator:
Shaun Wang, Robinson College of Business at Georgia State University

3:00 PM
Break

3:30 PM
Panel IV: Countercyclical policies

Presenters:
Andreas Lehnert, Board of Governors of the Federal Reserve System
Scott Smith, Federal Housing Finance Agency

Discussants:
John Geanakoplos, Yale University (invited)
Joseph Tracy, Federal Reserve Bank of New York
Susan Wachter, Wharton School of Business of the University of Pennsylvania

Moderator:
Stephen D. Oliner, AEI

5:15 PM
Cocktail Reception

6:00 PM
Buffet Dinner and Keynote Address

Introduction:
Alex J. Pollock, AEI

Keynote Address:
William Isaac, Former Chairman of the Federal Deposit Insurance Corporation

7:30 PM
Adjournment

Day 2
Thursday, August 1, 2013

7:45 AM
Registration and Breakfast

8:15 AM
Panel V: Stabilized lending value

Presenter:
Bill Foster, US House of Representatives (D-IL)

Discussants:
Ted Durant, Mortgage Guaranty Insurance Corporation
Patrick Sheehy, Lender Processing Services

Moderator:
Alex J. Pollock, AEI

9:15 AM
Best practices: Alignment of incentives

Presenters:
Edward J. Pinto, AEI
Mike Frueh, US Department of Veterans Affairs

10:00 AM
Break

10:15 AM
Panel VI: Are appraisers and appraisals up to the challenge?

Presenter:
Steve Linville, National Association of Home Builders

Discussants:
John Brenan, Appraisal Foundation
Alan Hummel, Forsythe Appraisal
Greg Stephens, Metro-West Appraisal Company

11:45 AM
Buffet Lunch and Discussion of Next Steps

1:15 PM
Adjournment

Event Contact Information

For more information, please contact Emily Rapp at Emily.Rapp@aei.org, 202.419.5212.

Media Contact Information

For media inquiries, please contact MediaServices@aei.org, 202.862.5829.

RSVP

International conference on collateral risk: Moderating housing cycles and their systemic impact

Wednesday, July 31, 2013 | 8:10 a.m. – Thursday, August 01, 2013 | 1:15 p.m.

AEI, Twelfth Floor 1150 Seventeenth Street, NW Washington, DC 20036

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AEI Participants

Edward J.
Pinto

An executive vice president and chief credit officer for Fannie Mae until the late 1980s, Edward Pinto has done groundbreaking research on the role of government housing policies in the lead-up to the financial crisis. In particular, his data have revealed striking facts about the contributions of housing policy to the mortgage crisis. Two of his major research papers have been submitted to the Financial Crisis Inquiry Commission: "Government Housing Policies in the Lead-up to the Financial Crisis: A Forensic Study" and "Triggers of the Financial Crisis." At AEI Mr. Pinto is continuing his work on the role of housing policies in the financial crisis and researching policy considerations and options for rebuilding our housing-finance sector.
Phone: 240-423-2848
Email: edward.pinto@aei.org
Assistant Info
Name: Emily Rapp
Phone: 202-419-5212
Email: emily.rapp@aei.org

Show More | See Full Profile

Alex J.
Pollock

Alex Pollock joined AEI in 2004 after thirty-five years in banking. He was president and chief executive officer of the Federal Home Loan Bank of Chicago from 1991 to 2004. He is the author of numerous articles on financial systems and the organizer of the “Deflating Bubble” series of AEI conferences. In 2007, he developed a one-page mortgage form to help borrowers understand their mortgage obligations. At AEI, he focuses on financial policy issues, including housing finance, government-sponsored enterprises, retirement finance, corporate governance, accounting standards, and the banking system. He is the lead director of CME Group, a director of Great Lakes Higher Education Corporation and the International Union for Housing Finance, and chairman of the board of the Great Books Foundation.

CLICK HERE TO DOWNLOAD ALEX POLLOCK'S ONE-PAGE MORTGAGE FORM
Phone: 2028627190
Email: apollock@aei.org
Assistant Info
Name: Emily Rapp
Phone: (202) 419-5212
Email: emily.rapp@aei.org