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Access to Credit Forum
April 3 @ 8:00 am - 3:30 pm EDT
NFHA is hosting a national forum bringing together key stakeholders in lending, insurance, civil rights, housing, government, and community development to address barriers to credit access. Participants will delve into policies, practices, and infrastructure issues that unnecessarily restrict consumers from obtaining sustainable and affordable financial services and products and will identify solutions that may be implemented in the short- and long-term. The Forum is designed to build consensus around solutions, develop an action plan, and obtain commitments from stakeholders to engage in activities to help expand credit access to underserved consumers.
NATIONAL ACCESS TO CREDIT FORUM
An FHAct50 Event
Marriott Marquis, Washington, DC
April 3, 2018
8:00am – 8:30am
Breakfast and Registration
8:30am – 8:45am
Welcome and Introduction – Lisa Rice, President and CEO, National Fair Housing Alliance
- Overview of the day and purpose of Forum
- Credit Access Poll
- Access to Credit Presentation
8:45am – 9:45am
Market and Economic 360⁰
The financial services space has experienced non-stop change, particularly since the 2008 financial and foreclosure crises. Bank consolidations, Tax Reform, business realignments, GSE Reform, CRA Modernization, political will, regulatory transformations, and other issues will significantly impact any effort to expand credit access and affect the opportunity to implement necessary reforms. Experts discuss the changing tides and what they portend for achieving real change that can help credit-worthy consumers participate in the markets.
Gary Acosta, Co–Founder and CEO, National Association of Hispanic Real Estate Professionals – Moderator
Ken Scott, Managing Director, Fair Lending, Citi
Ramon Gomez, Executive Director, Regulatory Compliance JPMorgan Chase
Adolfo Marzol, Senior Advisor to the Secretary, Department of Housing and Urban Development
Susan Wachter, Albert Sussman Professor of Real Estate, The Wharton School
9:45am – 11:00am
The Evidence for Expanding Access to Credit
Numerous organizations, including the Urban Institute, Mortgage Bankers Association, the Federal Reserve, the Center for Responsible Lending and NFHA, have documented that lending levels to people of color, persons with disabilities, and other under-served groups are wholly insufficient and that much more could be done to expand access to quality credit for these consumers. Presenters will put the data and facts in context around the issues these populations continue to face in accessing credit, and discuss potential policy levers or solutions that can help move the dial and create lending opportunities and economic mobility.
Faith Schwartz, Principal, Housing Finance System Strategies, LLC – Moderator
Alanna McCargo, Vice President of Housing Policy Center, Urban Institute
Mark Zandi, Chief Economist, Moody’s
Larry Parks, Senior Vice President, Federal Home Loan Bank Board
Sam Khater, Deputy Chief Economist, CoreLogic
Cheryl Young, Senior Economist, Trulia
11:00 – 11:15am – Break
11:15am – 12:15pm
Modernizing FHA to Improve Consumer Access
How do we ensure FHA continues to serve its role to provide access for new entrants into the housing market and under-served borrowers while maintaining the viability of the program? FHA serves as a principal source of credit for Communities of Color, has been a conduit to homeownership for millions of Americans, and proved to be the backbone of the US housing finance system during the recent financial crisis. Yet, many agree that FHA has inefficiencies connected to its legal structure, limited improvements and other considerations that restrict optimized performance in the program. Given the importance of FHA to the US economy, what are some necessary changes, achievable in the short-term, that can expand access to credit for more consumers while simultaneously providing strength to the system?
Sarah Rosen Wartell, President and CEO, Urban Institute – Moderator
Dave Stevens, President and CEO, Mortgage Bankers Association
Laurie Goodman, Vice President Housing Finance Policy Center, Urban Institute
Mike Calhoun, President and CEO, Center for Responsible Lending
Kevin Chavers, Managing Director, BlackRock
12:15 – 1:30 – Lunch and Fireside Chat
12:45pm – 1:30pm – Mark Calabria, Chief Economist, Office of the Vice President, and Pamela Patenaude, Deputy Secretary, Department of Housing and Urban Development, with Lisa Rice, President and CEO, National Fair Housing Alliance
1:30pm – 1:45pm – Break
1:45pm – 2:45pm
Workable Solutions to Expand Credit Access
In this lightning round, presenters will discuss recommendations and options for increasing market participation. There are viable solutions to expanding credit access that can be implemented in relatively short order. Each speaker will have 5 minutes to explain one suggestion or recommendation for expanding access to credit. This segment will include a discussion about key stakeholders that would be able to take the lead in advancing each proposed solution to the next level.
Natalie Abatemarco, Managing Director, Head of Community Development – Moderator
Sam Oliver, Vice President Strategic Delivery, Freddie Mac
Richard Cooperstein, Director of Model Risk Management, Andrew Davidson & Co.
Aracely Panameno, Director, Latino Affairs, Center for Responsible Lending
Michael Derstine, Chief Risk Officer, Genworth
Lot Diaz, Vice President, Housing and Community Development, UnidosUS
2:45pm – 3:15pm
Setting Priorities –
Naomi Camper, Managing Director, Head of Nonprofit Engagement, Chase – Moderator
Each recommendation for expanding access to quality credit proffered throughout the day will be captured and recorded. Participants at the Forum will vote on their top priorities using live, interactive polling. The results will be presented to the group and top priorities will be tasked to key stakeholders who will take the lead on advancing the proposal to the next level.
(As a final action, we will poll the audience about their interest in convening a follow-up session to track achievement and implementation of the recommendations generated in the Forum.)
3:15pm – 3:30pm
Next Steps and Closing Remarks
Lisa Rice, President & CEO, NFHA