Housing Finance Reform: Opportunities and Obstacles of Risk Sharing

KEYWORDS: BOB CORKER, FANNIE MAE, FREDDIE MAC, GSES, MARK WARNER, NIC RETSINAS

WHEN: Tuesday, October 6, 2015 6:30 a.m. to 8:30 a.m. ET

WHERE: Bipartisan Policy Center, 1225 Eye Street NW, Suite 1000, Washington, DC, 20005

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Seven years after Fannie Mae and Freddie Mac were placed into conservatorship, there is still a lack of consensus on how to reform the Government-Sponsored Enterprises (GSEs). Notwithstanding, everyone agrees that there is a need for more private capital in the system and a need to transfer risk away from the taxpayer and GSEs. Focusing on risk sharing, specifically “front-end,” makes housing finance more sustainable. While the GSEs are experimenting with additional forms of risk sharing, all of them are handled on the back end after the loan is on the GSEs balance sheets. The Bipartisan Policy Center hosted a keynote address and panel discussion on these issues and more.


Keynote remarks from:

U.S. Senator Bob Corker (R-TN)
Member, Senate Banking Committee

U.S. Senator Mark Warner (D-VA)
Ranking Member, Senate Securities, Insurance, and Investment Banking Subcommittee

Panel discussion featuring:

Kevin Chavers
Managing Director, BlackRock

Bob Ryan
Acting Deputy Director of the Division of Conservatorship, FHFA

Michael Fratantoni
Chief Economist and Senior Vice President, Research and Industry Technology, Mortgage Bankers Association

Laurie Goodman
Director, Urban Institute’s Housing Finance Policy Center

Pat Sinks
CEO Mortgage Guaranty Insurance Corporation (MGIC)

Moderated by:

Nic Retsinas
Senior Lecturer in Real Estate, Harvard Business School