Foreclosures: What are Fannie And Freddie Doing to Stem the Tide?

On September 7, Fannie Mae and Freddie Mac were placed into conservatorship. There was an expectation that the move would make the companies, which had hunkered down to preserve capital, much more active in dealing with the on-going housing crisis. What has actually happened, and what are the prospects for the future? How have the companies dealt with borrowers in trouble on the loans Fannie and Freddie own or have guaranteed? How are they working with servicers to modify or restructure loans? What is happening to their REO? Are they buying or guaranteeing loans to new homeowners? And who is calling the shots?

Join the New America Foundation as James Lockhart discusses these and other questions relating to the conservatorship. He will be followed by Barry Zigas of the Consumer Federation of America and Gregory Baer of Bank of America. Introductions will be made by Maya MacGuineas, President of the Committee for a Responsible Federal Budget and Director of the Fiscal Policy Program at the New America Foundation. The event will be moderated by Ellen Seidman, Financial Services Policy Director in the Asset Building Program at the New America Foundation.

This event will also be webcast live. No RSVP is necessary for the webcast; simply return to this page on Thursday at 3:30pm to watch the event remotely. Please note, however, that Flash Player 9 is required to view the webcast.

Participants

Featured Speaker
James Lockhart (PowerPoint Presentation, PDF, 17 pps.)
Director and Chairman of the Oversight Board, Federal Housing Finance Agency

Discussants
Barry Zigas
Director of Housing Policy, Consumer Federation of America

Gregory Baer
Deputy General Counsel, Regulatory and Public Policy, Bank of America

Moderator
Ellen Seidman
Director, Financial Services Policy, Asset Building Program, New America Foundation

Introductions
Maya MacGuineas
President, Committee for a Responsible Federal Budget
Director, Fiscal Policy Program, New America Foundation