A proposed public guarantor that would take on Fannie Mae and Freddie Mac’s secondary market functions and insure catastrophic bond risks could be a hot topic for the securities industry.
Processing Content
The Bipartisan Housing Commission has made recommendations to this end and one of its four co-chairs, former Housing and Urban Development Department secretary Henry Cisneros, is one of the panelists at the Securities Industry and Financial Markets Association’s annual meeting Tuesday.
The private lender cooperative model for residential mortgage finance also could come up with Federal Reserve Bank of New York executive vice president Joseph Tracy, an early advocate of the concept, on the same housing system reform panel as Cisneros. Tracy also is a senior advisor to the president.
Other mortgage session panelists include BlackRock vice chairman Barbara Novick, one of the industry executives who opposes local government proposals to seize housing-related assets through eminent domain.
Chase’s head of mortgage banking, Kevin Watters, an advocate of the government’s Home Affordable Refinance Program, also will appear on the panel.
