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
Thursday, August 01, 2013 | 8:10 a.m. – 1:30 p.m.
AEI, Twelfth Floor
1150 Seventeenth Street, NW
Washington, DC 20036
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Online registration for this event is now closed. Walk-in registrations will be accepted.

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, and Canada 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 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.

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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, The Geneva Association

8:30 AM
Panel 1: The historical perspective — two examinations of housing cycles

Presenters:
Stephen D. Oliner, AEI
Shaun Wang, The Geneva Association

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

Moderator:
Edward J. Pinto, AEI

10:15 AM
Break

10:30 AM
Panel 2: Fundamentals of value

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

Discussants:
Morris Davis, Wisconsin School of Business at the University of Wisconsin–Madison and AEI
Chris Killian, 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 3: International approaches to value and systemic risk

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

Discussant:
Lance Coyle, Appraisal Institute

Moderator:
Shaun Wang, The Geneva Association

3:05 PM
Break

3:30 PM
Panel 4: Countercyclical policies

Presenters:
Andreas Lehnert, Board of Governors of the Federal Reserve System
Tom O'Grady, Pro Teck Valuation Services
Scott Smith, Federal Housing Finance Agency
Jesse Weiher, Federal Housing Finance Agency

Discussant:
Susan Wachter, Wharton School of Business of the University of Pennsylvania

Moderator:
Edward Pinto, AEI

5:15 PM
Keynote Address

Introduction:
Alex J. Pollock, AEI

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

6:00 PM
Cocktail Reception

7:30 PM
Adjournment

Day 2
Thursday, August 1, 2013

7:45 AM
Registration and Breakfast

8:15 AM
Panel 5: Stabilized lending value and countercyclical LTVs

Presenters:
Ted Durant, Mortgage Guaranty Insurance Corporation
Bill Foster, US House of Representatives (D-IL)

Discussants:
Patrick Sheehy, Lender Processing Services
Joseph Tracy, Federal Reserve Bank of New York

Moderator:
Alex J. Pollock, AEI

9:25 AM
Panel 5A: Best practices: Alignment of incentives

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

Discussant:
James Carr, Center for American Progress

10:20 AM
Break

10:30 AM
Panel 6: 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 

Moderator:
Joan Trice, Collateral Risk Network

12:00 PM
Buffet Lunch and Discussion of Next Steps

1:30 PM
Adjournment

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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.


 

 

 

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AEI Participants

 

Stephen D.
Oliner

  • Stephen D. Oliner is a resident scholar at the American Enterprise Institute (AEI) and a senior fellow at the University of California, Los Angeles (UCLA) Ziman Center for Real Estate.

    Oliner joined AEI after spending more than 25 years at the Federal Reserve Board. An economist by training, Oliner held a number of high-level positions at the Fed and was closely involved in the Fed's analysis of the US economy and financial markets. Since leaving the Fed, Oliner has become well known for his analysis of US monetary policy and has maintained an active research agenda that focuses on real estate issues and the US economy’s growth potential. 

    Oliner has a Ph.D. and an M.S. in economics from the University of Wisconsin. He received a B.A. in economics from the University of Virginia.

  • Phone: 202.419.5205
    Email: stephen.oliner@aei.org

  • Assistant Info

    Name: Emily Rapp
    Phone: 202.419.5212
    Email: emily.rapp@aei.org
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Edward J.
Pinto

  • Edward J. Pinto is a resident fellow at the American Enterprise Institute (AEI), where he specializes in housing finance and the effect of government housing policies on mortgages, foreclosures, and the availability of affordable housing for working-class families. He is currently researching policy options for rebuilding the US housing finance sector and writes AEI’s monthly FHA Watch.

    An executive vice president and chief credit officer for Fannie Mae until the late 1980s, Pinto has done groundbreaking research on the role of federal housing policy in the 2008 mortgage and financial crisis. Pinto’s work on the Government Mortgage Complex includes seminal research papers submitted to the Financial Crisis Inquiry Commission: “Government Housing Policies in the Lead-up to the Financial Crisis” and “Triggers of the Financial Crisis.” In December 2012, he completed a study of 2.4 million Federal Housing Administration (FHA)-insured loans and found that FHA policies have resulted in a high proportion of working-class families losing their homes.

    Pinto has a J.D. from Indiana University Maurer School of Law and a B.A. from the University of Illinois at Urbana-Champaign.

  • Phone: 240-423-2848
    Email: edward.pinto@aei.org

  • Assistant Info

    Name: Emily Rapp
    Phone: 202-419-5212
    Email: emily.rapp@aei.org
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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



    CLICK HERE TO LEARN MORE ABOUT ALEX POLLOCK'S WORK ON THE GOVERNMENT MORTGAGE COMPLEX
  • Phone: 2028627190
    Email: apollock@aei.org

  • Assistant Info

    Name: Emily Rapp
    Phone: (202) 419-5212
    Email: emily.rapp@aei.org
Show More | See Full Profile
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