After the Credit Freeze Thaws: Are Mortgage-Backed Securities the Best Way to Finance American Homeownership?
Mortgage-Backed Securities supposedly created an efficient, low-risk mechanism for international capital markets to finance homeownership for large numbers of Americans. Now that we have seen some of the downsides of MBS, what role should they play in the mortgage finance system? Should we instead require mortgage originators to retain more of the risk of loan default – perhaps through covered bonds? This keynote roundtable will feature some of the leading thinkers in finance, academia and government debating these questions. Discussants will include:
- PETER ENGBERG JENSEN, chairman for the Association of Danish Mortgage Banks and Group Chief Executive, Nykredit Realkredit A/S
- LEWIS RANIERI, Founder, Hyperion Private Equity Funds; Chairman, CEO and President, Ranieri & Co. Inc.
- Larry White, Arthur E. Imperatore Professor of Economics, Department of Economics, NYU Stern School of Business