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FDIC Advisory Committee on Economic Inclusion (ComE-IN) Meeting
Agenda
The Subprime Mortgage
Situation - How Did We Get Here and What Can We Do?
July 16, 2007, FDIC Headquarters, 550 17th Street N.W.,
Washington, DC
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9:00 am to 9:30 am |
Welcome remarks,
Diana L. Taylor, Chair, Advisory Committee
Update on small
dollar loan pilot program; subprime testimony; securitization
roundtable –
Sheila C.
Bair,
Chairman, FDIC
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9:30 am to 10:30 am |
How did we get here? Why high-priced lenders disproportionately lend to low-income and minority home borrowers
William Apgar, Jr. Harvard University
John Weicher,
Hudson Institute |
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10:30 am to 10:45 am |
Break |
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10:45 am to 12:15 pm |
Efforts to Help
Troubled Borrowers
Michael Shea
ACORN
Diane Thompson
Land of Lincoln Legal Assistance Foundation
Kenneth Wade
NeighborWorks America
Michael Desmond
U.S. Department of the Treasury
Moderator: Sandra L. Thompson, FDIC |
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12:15 pm to 1:15 pm |
Lunch |
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1:15pm to 2 pm |
Mortgage Brokers
Jack Guttentag
Professor of Finance, Emeritus, Wharton School
University of Pennsylvania |
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2:00 pm to 4:00 pm |
What can we do? Issues for National Standards
Involving Congress, Regulators, Consumers, Consumer Groups. Wall
Street and Investors
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Defining subprime.
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Underwriting to the fully indexed interest
rate?
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Prepayment penalties
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Mandatory escrow accounts for taxes and
insurance?
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Licensing and standards for mortgage brokers
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Meaningful disclosures and honest advertising
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Secondary market liability
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Stated income/ low doc loans
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Future ACTION items.
Legal Introduction: Sara A. Kelsey, FDIC
Discussion Leader: Diana Taylor
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General Information
ComE-IN Background Definitions
Various Articles Regarding ComE-IN Issues - PDF 1539k (PDF Help)
NeighborWorks® America Information
Fact Sheet - PDF 2341k (PDF Help)
National Partners - PDF (PDF Help)
Preventing Foreclosure: NeighborWorks® America’s PSA Campaign - PDF (PDF Help)
Foreclosure Statistics - PDF (PDF Help)
Relevant FDIC Press Releases
Federal Financial Regulatory Agencies Issue Final Statement on Subprime Mortgage Lending - June 29, 2007
FDIC Issues Final Guidelines on Affordable Small-Dollar Loans - June 19, 2007
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