Agenda - Download
Welcoming Remarks
Keith L. Rolland, Community Development Advisor, Community Development Studies & Education Department, Federal Reserve Bank of Philadelphia
Origination and Servicing Trends Affecting Low- and Moderate-Income (LMI) Homeowners
This presentation will provide insight into post-recession trends affecting the ability of LMI individuals and families to purchase homes. The presentation will include highlights of recent Urban Institute research on the qualified mortgage rule, changes in credit profiles and records, demographic changes affecting mortgage demand, and servicing costs.
- Laurie Goodman, Codirector, Housing Finance Policy Center, Urban Institute - Presentation
Loan Origination Issues and Challenges
This panel will provide insight into recent loan origination experience in the Delaware Valley from the perspectives of different sectors.
- William H. Hall IV, Senior Manager, Housing Programs, Clarifi - Presentation
- Joseph Rey, Associate Broker/Partner, RE/MAX Millennium
- Marie Gayo, Senior Vice President, Operations, Trident Mortgage Company
- Moderator: Leonard A. Bernstein, Managing Partner, Reed Smith - Presentation
Servicing Issues and Challenges
This panel will provide insight into recent servicing experience in the Delaware Valley from the perspectives of different sectors.
- Michael T. McKeever, Attorney, KML Law Group, P.C.
- James D. Scott, Vice President and Default Manager, Cenlar FSB
- Margaret Robinson, Attorney and Supervisor, Save Your Home Philly Hotline, Philadelphia Legal Assistance - Presentation
- Moderator: Honorable Annette M. Rizzo (Retired), First Judicial District, Commonwealth of Pennsylvania, and Neutral, JAMS
Keynote Address: Long-Term Servicing Outlook and Implications for Financial Institutions and Housing Counseling Agencies
This presentation will discuss servicing trends, including the increasing role of nonbank servicing firms. The presentation will also discuss the planned termination of the federal Making Home Affordable Program in December 2016.
- Laurie Maggiano, Program Manager, Servicing and Secondary Markets, Consumer Financial Protection Bureau
Observations
Theresa Y. Singleton, Vice President and Community Affairs Officer, Community Development Studies & Education Department, Federal Reserve Bank of Philadelphia
Low Down Payment Homeownership Products Available to Financial Institutions in Pennsylvania, New Jersey, and Delaware
Fannie Mae has introduced its HomeReady product and Freddie Mac has introduced its Home Possible product. Key characteristics and features of each product will be explained.
- Jonathan Lawless, Vice President, Product Development and Affordable Housing, Fannie Mae - Presentation
- Danny Gardner, Vice President, Single Family Affordable Lending and Access to Credit, Freddie Mac - Presentation
- Moderator: Kate Newton, Director, Homeownership Programs, Pennsylvania Housing Finance Agency - Presentation
Issues and Challenges Facing LMI Homeowners on Reverse Mortgages
This panel will examine origination and servicing trends of reverse mortgages in the Delaware Valley. Speakers will examine changes in the home equity conversion mortgage (HECM), including requirements for housing counseling; spousal safeguards; and changes to increase the likelihood that borrowers will have the ability to pay their property taxes, home insurance premiums, and home maintenance and repair costs.
- Greg McDermott, Manager, HECM Department, Trident Mortgage Company - Presentation
- Elizabeth P. Shay, Homeowners Assistance Program Coordinator, SeniorLAW Center - Presentation
- Philip Caulfield, Senior Policy Analyst, Office of Single Family Program Development, U.S. Department of Housing and Urban Development - Presentation
- Don Graves, Business Development Manager for Retirement Funding Solutions, HECM Advisors Group, and Adjunct Professor of Retirement Income, American College of Financial Services - Presentation
- Moderator: Anita M. Brown, Chief Operating Officer, Clarifi