We invite you to join us for this year’s international conference on housing risk — cosponsored by the Collateral Risk Network and AEI International Center on Housing Risk — which will focus on new mortgage and collateral risk measures and their applications.
Notwithstanding the recent collapse of our government dominated housing finance system, the housing lobby is once again trotting out the usual arguments for all-encompassing federal guarantees: All homebuyers should be able to obtain high-loan-to-value mortgage loans on all houses in all areas of the country in all market conditions.
At this Capitol Hill luncheon event, industry expert Tom White argued that the federal guarantee should be phased out to enable private capital to re-enter the multifamily mortgage market.
We begin with a simple concept — the American taxpayer should not be on the hook for the losses incurred by privately owned and operated businesses. Providing extensive government guarantees for multifamily lending is corporate welfare and crony capitalism and should be rejected as government policy.
At this event, industry experts Tom White and Charlie Wilkins will argue that the federal guaranty should be phased out and will present findings from their interviews with a host of multifamily and capital-markets experts.
The federal government offers the owners of multifamily rental housing guarantees. The guarantees and artificially low interest rates increase mortgage debt on the nation’s multifamily stock. This may cause serious problems if not corrected.
At this event, Thomas White and Charlie S. Wilkins, drawing on their long involvement in multifamily finance, will present their prescription for the future of multifamily housing finance reform, and John C. Weicher and Thomas Watts will draw from their own deep wells of experience to comment on the presentation.
No Federal Guaranties in Multifamily. Period. Everyone now agrees that it was a bad idea to have an implicit federal guaranty for the multifamily activities of Fannie Mae and Freddie Mac. The public debate is now focused on the question of whether there should be explicit federal guarantees for at least some multifamily loans, in at least some market conditions.