Speakers Address Mortgage Finance Reform
Nashville, TN – September 13, 2013 – (RealEstateRama) — Mortgage finance reform is central to stabilization of the housing market. Two perspectives on this issue will be offered in the opening session of the Governor’s Housing Summit October 7.
Mark Calabria, director of Financial Regulations Studies at the CATO Institute, and Michael Bright, senior financial advisor for U.S. Senator Bob Corker will talk about the proper role of the federal government in the mortgage finance market, and recommendations for limiting the role of the GSEs – government-sponsored enterprises – Fannie Mae and Freddie Mac.
Other questions to be addressed include: causes for the financial meltdown and ensuing housing crisis; the future of the Federal Housing Authority, established in 1934 with a current portfolio of 4.8 million single family properties; and potential roles for housing finance agencies in the secondary market.
The Governor’s Housing Summit brings together a large selection of the housing industry: lenders, REALTORS®, builders, community planners and elected officials. The goal is to share best practices and develop relationships to support production across the state. Governor Bill Haslam’s video invitation and the full agenda are available at www.THDA.org.
Registration for the Summit is open online at http://2013ghs.eventbrite.com/. The meeting opens with lunch on October 7 and ends with lunch October 8. All sessions are held at the Music City Center in Nashville. Many groups offer sponsorship to broaden attendance. The Summit organizers, Tennessee Housing Development Agency and the Tennessee Affordable Housing Coalition, thank Fifth Third Bank, the Federal Home Loan Bank of Cincinnati, First Sterling, Habitat for Humanity of Greater Nashville, Citi, the Homebuilders Association of Tennessee, Tennessee Association of REALTORS®, Pinnacle Financial Partners, and SunTrust Bank among others.
Michael Bright serves as the Senior Financial Advisory for U.S. Senator Bob Corker, focusing on banking, finance and housing issues. In this position, Mr. Bright has taken a leading role in crafting legislation addressing mortgage finance reform and winding down the government
sponsored enterprises (Fannie Mae and Freddie Mac). Michael Bright has an undergraduate and Master’s degree from Johns Hopkins University.
Mark Calabria is the Director of Financial Regulations Studies at the CATO Institute, a public policy research organization dedicated to the principles of individual liberty, limited government, free markets and peace. Mr. Calabria previously served as a key staff member of U.S. Senator Richard Shelby, working on the Senate Committee of Banking, Housing, and Urban Affairs. Before this, Mr. Calabria served as the Deputy Assistant Secretary for the Regulatory Affairs at the U.S. Department of Housing and Urban Development.
As the State’s housing finance agency, the Tennessee Housing Development Agency (THDA) is a self-sufficient, independently funded, publicly accountable entity of the State of Tennessee. THDA’s mission is to ensure that every Tennessean has access to safe, sound, affordable housing opportunities. More information about THDA programs can be found online at www.thda.org.