FDIC to host symposium on the future of housing finance
The Federal Deposit Insurance Corp. is hosting a two-day symposium next week to discuss the future of housing finance. The symposium, scheduled for Oct. 25 and 26, invites experts in the public, private and academic sectors of mortgage finance to exchange views on mortgage finance, foreclosures, loan modifications and securitization. Chairman of the FDIC, Sheila Bair is giving the keynote luncheon speech, and in anticipation of the event said that reform is essential to the future stability of the U.S. economy. "It is very clear that as a country we need to aggressively examine the incentives of our system of mortgage finance to ensure that the problems that contributed to the financial crisis are addressed," she said. "It will be difficult to restore stability and normalcy to the housing finance system - and thus the broader economy - without reform." A portion of the panels at the symposium focus on policy, including policy regarding mortgage modification and the future of the government sponsored enterprises Fannie Mae and Freddie Mac. Other panels will address homeowner credit, loan renegotiation and secondary mortgage markets. The event, which is both free and open to the public, will be held at the Seidman Center in Arlington, Va. Chairman of the Federal Reserve Board Ben Bernanke will give the opening remarks. His remarks, along with Bair's keynote address will be broadcast via webcast beginning at 8:30 a.m. Write to Christine Ricciardi.