American Banker, 7/1/2008 — Two Federal Deposit Insurance Corp. events next week will focus on promoting mortgage lending to low- and moderate-income households.
On July 8, Treasury Secretary Henry Paulson, Federal Reserve Board Chairman Ben Bernanke, and JPMorgan Chase & Co. chief executive James Dimon are to be headline speakers at a forum on low-income mortgage lending in the FDIC’s building in Arlington, Va.
Discussion topics are to include reintroducing standard loan underwriting and pricing in the low-income mortgage market, profitable approaches to lending to low- and moderate-income borrowers, and how community-building can help foster homeownership.
The roster of speakers includes Lewis S. Ranieri, the chairman of Ranieri & Co.; Richard L. Carrion, the president and chief executive officer of Popular Inc.; and John Hope Bryant, the chief executive of Operation Hope and the vice chairman of the President’s Advisory Council on Financial Literacy.
One day later, the FDIC’s advisory committee on economic inclusion is to similarly discuss low-income mortgage lending at the agency’s Washington headquarters. The committee – comprising bankers, federal officials, and consumer advocates – has met periodically since March 2007 to discuss strategies for reaching underbanked consumers.