Don't forget--this Thursday, representatives from the U.S. Department of the Treasury, CitiMortgage, National Community Reinvestment Coalition, Community Investment Corporation, and Oak Park Regional Housing Center will debate the impact of proposed changes to the housing finance system on communities of color and low-wealth communities at a panel we're hosting at the Federal Reserve Bank of Chicago.
The U.S. Department of the Treasury recently released a report to Congress outlining three options for the future structure of the housing finance system. Panelists will discuss current challenges facing mortgage lending and the impacts of potential changes to housing finance on access to credit for affordable housing, rental housing, traditionally underserved groups, and more.
“The debate about the future of housing finance will have enormous implications on the prospects for recovery in low-wealth communities and communities of color, which continue to suffer from the fallout of the foreclosure crisis,” said Dory Rand, President of Woodstock Institute. “While it is important to restore prudence to the housing finance system after the economic collapse, we must be careful not to overcorrect and unduly restrict credit to communities that desperately need investment. ‘Fostering Opportunity’ will showcase diverse perspectives on how to best achieve that balance.”
The discussion will be moderated by Alden Loury, publisher of the Chicago Reporter.
Sameera Fazili, U.S. Department of the Treasury—Sameera Fazili is a policy advisor in the Treasury Department's Office of Financial Institutions on community development, housing, and small business finance. Prior to that she taught at Yale Law School where she served as the Ludwig Community Development Fellow and a Clinical Lecturer of Law in the Community and Economic Development Clinic and the Community Development Financial Institutions Clinic.
Bill Dyson, CitiMortgage—Over the past thirteen years, Bill Dyson has held senior leadership positions in finance, operations and sales for CitiMortgage. Since assuming the role of Director of Industry and Government Relations in August 2009, Bill has been focused on the changing legislative and regulatory environment and the impact on Citimortgage and the mortgage industry, increasing Citi’s participation with mortgage trade associations, and building win-win partnerships with community and consumer groups.
Jim Carr, National Community Reinvestment Coalition—Jim Carr is Chief Business Officer for the National Community Reinvestment Coalition, an association of 600 local development organizations across the nation, dedicated to improving the flow of capital to communities and promoting economic mobility. Previously, Jim was Senior Vice President for Financial Innovation, Planning and Research for the Fannie Mae Foundation and Vice President for Housing Research at Fannie Mae.
Jack Markowski, Community Investment Corporation—As president of CIC, Jack Markowski oversees the most important source of loans for the rehabilitation of multifamily residential buildings in the Chicago region. Markowski joined CIC after serving as President of Park Bank Initiatives, the non-profit community development affiliate of Park National Bank. He served as Commissioner of the Chicago Department of Housing from 1999 through June, 2007.
Rob Breymaier, Oak Park Regional Housing Center— Rob Breymaier is the Executive Director of the Oak Park Regional Housing Center. The Housing Center is the nation’s foremost example of actively promoting the affirmative furthering of fair housing. Rob is a leader on national efforts to affirmatively further fair housing. In 2008, Rob and fair lending consultant Stella Adams led a successful advocacy effort to ensure that Fannie Mae and Freddie Mac would not use zip codes or other geographic criteria as determinants in their pricing models.
The panel will be followed by a reception honoring the recipients of the 2011 Community Investment Awards for their vital contributions to economic opportunity in the communities where they live and work. The 2011 Community Investment Award recipients are:
Coalition for Community Banking
When U.S. Bank took over Park National Bank last year, the Coalition for Community Banking skillfully used the tools of the Community Reinvestment Act to ensure that community needs would be incorporated into U.S. Bank's operations.
Curtis Monday, Dollars and Sense, WVON
Through his popular radio show, Curtis plays an invaluable role in educating the community about the dangers and impacts of predatory lending, unequal access to banking services, and more.
Casandra Slade, Lake Forest Bank and Trust
As a Vice President and CRA Officer at Lake Forest Bank and Trust, Casandra has demonstrated a deep personal commitment to extending safe and sustainable credit to communities of color and low-wealth communities.