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Wisconsin Moves Forward to Address Foreclosures

On March 13, 2008, the Federal Reserve Bank of Chicago, the University of Wisconsin Extension, and Wisconsin Housing and Economic Development Authority cosponsored a conference entitled, "Wisconsin Moves Forward to Address Foreclosures."

Participants learned from experts who shareed their leading ideas and best practices/models for addressing the issues and concerns surrounding Wisconsin's increasing number of foreclosures. The day long conference featured: a regulatory update; a presentation on surging inequality and the rise in predatory lending; and three concurrent education training sessions that will delve extensively into loss mitigation, the foreclosure litigation process, and mortgage rescue fraud scams and schemes. Mr. Thomas James, Senior Assistant Attorney General of the State of Illinois, was invited to provide the keynote address. The afternoon provided an opportunity to use your own expertise to engage the problem of foreclosures, as three task forces are helping to build an effective community response. Here, participants will have the opportunity to engage in this action-oriented process that facilitated through task forces made up of attendees. The three task forces are:

Options and Outreach Task Force

Working together to provide appropriate, timely, quality information to Wisconsin consumers about their options when facing delinquency and the potential foreclosure of their home.

Stabilization & Maintenance Task Force

Solutions for creating and implementing a solid, post-purchase program for Wisconsin homeowners that will help stabilize the homeowner's financial position and assist with the long-term maintenance of their home.

Financial Options & Strategies Task Force

Exploring what additional short and long term financial options and strategies may be needed in Wisconsin to complement existing solutions to prevent foreclosure.

Conference participants comprised of: community development professionals, financial industry practitioners, bankers, attorneys, economists, housing experts, secondary market specialists, policymakers, researchers, academics, and representatives of government agencies and foundations.

Thursday, 03/13/08
8:00 AM
Registration and Continental Breakfast
8:30 AM
Welcoming Remarks and Presentation — Regulatory Update on Mortgage Foreclosures

Update on the latest regulatory responses to help reduce preventable foreclosures.

Steven W. Kuehl, Consumer Regulations Director, Federal Reserve Bank of Chicago View Bio
9:00 AM
Surging Inequality and the Rise in Predatory Lending

Equitable access to credit is essential to eradicating racial inequality. 

Dr. Gregory D. Squires, Professor of Sociology and Public Policy and Public Administration, George Washington University, Washington D.C. View Bio
10:00 AM
Break & Move to Your First Education Breakout Session
10:15 AM
Concurrent Sessions on Foreclosure Training

This two–part training (full training includes both the AM and PM sessions) is targeted to mortgage counselors and dispels myths, provides the lenders perspective and outlines the available solutions.

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Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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