Richard Koss is an economic and real estate consultant and Adjunct Professor at the Carey School of Business at Johns Hopkins University. From 2015-2017 he was Visiting Scholar in the Research Department at the IMF, and Director of the Global Housing Watch. Previously, he was the Director of Economics with the Economic and Strategic Research Group at Fannie Mae and their key spokesperson on the global business and economic environment. Prior to joining Fannie Mae, Koss spent over 20 years in senior positions on Wall Street. Prior positions include Senior Advisor to the General Motors financial staffs and Staff Economist at the Council of Economic Advisers under Chairman Alan Greenspan. Koss is the past Chairman of the Conference of Business Economists, a member of the Economic Club of New York and a member of the Affordable Housing Working Group of the World Economic Forum.
Recently, FHFA posted a Request for Input asking for opinions concerning options for changing the delivery of credit scores to the GSEs, underwriters and investors. FHFA is considering various options to change the current system. Any such choice, in the end, is the outcome of a detailed cost-benefit analysis, but while FHFA acknowledges this, they fall short of providing the necessary framework for reaching an informed conclusion.
HUD’s objectives are sometimes distributed by factors ranging from politics, socio-economic disparities and even natural disasters. When American homeowners fall victim to any of these elements, HUD is not only there to offer a helping hand, but often serves as the tool that leads to recovery.