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Big Names to Headline Mortgage Summit

Mortgage News

Some of the biggest names in mortgage banking are scheduled as panelists at the upcoming mortgage summit sponsored by the Obama administration. Two members of the president’s cabinet will moderate the panels. The event is part of a strategy to submit a mortgage overhaul plan to Congress by early next year.

On Aug. 17, the Conference on the Future of Housing Finance will be held at the U.S. Department of the Treasury.

According to the administration, “This event will provide a forum for public input as the administration continues its work developing a comprehensive housing finance reform proposal for delivery to Congress by January 2011.”

Panel discussions will be moderated by Treasury Secretary Tim Geithner and U.S. Department of Housing and Urban Development Secretary Shaun Donovan.

Among mortgage banking executives who are scheduled as panelists are Wells Fargo Home Mortgage Co-president Mike Heid and Bank of America Home Loans President Barbara DeSoer.

Also named as panelists are Bill Gross, co-founder and co-chief investment officer of PIMCO; mortgage-backed securities legend Lewis Ranieri; and Radian Group Inc. Chief Executive Officer S.A. Ibrahim.
Other panelists include Moody’s Analytics Chief Economist Mark Zandi and Wharton School Professor Susan Wachter.

The residential finance system is in need of “fundamental reform,” Under Secretary of the Treasury for Domestic Finance Jeffrey A. Goldstein said in a statement today.

HUD Assistant Secretary for Policy Development and Research Dr. Raphael Bostic added that the conference is “an opportunity to engage stakeholders and experts with broad knowledge and many perspectives.”

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