An Informed Discussion of Nontraditional Mortgage Products and Other Risks

Sponsored By
The Federal Reserve Bank of Chicago
Wednesday, January 31, 2007
Illinois Rooms, Third Floor Conference Center

Agenda
8:00 a.m.		Registration and Continental Breakfast
8:30 a.m.		Welcoming Remarks Steven W. Kuehl Consumer Regulations Director, Federal Reserve Bank of Chicago
8:45 a.m.		Nontraditional Mortgages: Appealing but Misunderstood Shirley T. Chiu Associate Economist, Federal Reserve Bank of Chicago
9:15 a.m.		Regulatory Update on Nontraditional Mortgage Product Risk Joel Ramos Examiner, Federal Reserve Bank of Chicago
9:45 a.m.		Break & Networking
10:00 a.m.		Nontraditional Mortgages: A Conversation with Diverse Perspectives Introduction of John Taylor Steven W. Kuehl John Taylor - Host and Moderator Examiner, Federal Reserve Bank of Chicago John Bellini Senior Vice President, Paramount Bank A bank that offers non-traditional mortgage products. Michael Mangin Executive Vice President, Marquette Bank A bank that does not offer option ARMs. Michael Williams Vice President Securities Industry and Financial Markets Association Selling and securitizing of mortgage loans - an important way financial institutions manage their risk exposure. Allen J. Fishbein Director of Housing and Credit Policy Consumer Federation of America The impact on consumers who may not fully understand the financial implications and potential hazards these products entail.
11:45 a.m.		Break & Networking
12:00 p.m.		Lunch and Luncheon Address Luncheon Address - "Predatory Lending - What's Working in Illinois, A Litigation and Legislative Update Introduction of Thomas James Alicia Williams Vice President, Federal Reserve Bank of Chicago Thomas James Senior Assistant Attorney General State of Illinois, Consumer Fraud Bureau
1:15 p.m.		Break & Networking
1:30 p.m.		Illinois' Initiatives to Address Predatory Lending: A Conversation with Diverse Perspectives Harry Pestine - Host and Moderator Community Affairs Program Director Federal Reserve Bank of Chicago Jim Wheaton Deputy Director for Program Services and Strategy Neighborhood Housing Services NHS foreclosure intervention program and the impact of recent legislation. David Rose Research Director, National Training Information Center Identifying and addressing foreclosure "hot spots", workouts, et, al. Carl J. Malone Assistant Vice President Harris Bank Affordable loan products for individuals with lower FICO scores and other impediments. Dr. Marva Williams Senior Vice President, Woodstock Institute and Egan Campaign for Payday Loan Reform Ending practices to avoid payday lending reform.
3:00 p.m.		Closing Remarks and Adjourn Harry Pestine