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THE U.S. FINANCIAL REGULATORY SYSTEM OVERHAUL AND ITS IMPACT ON REAL ESTATE
The government has taken unprecedented measures to soften the hard landing from the collapse of the capital markets and resulting recession. Massive "bailouts," interest rate reductions, and other actions taken by the U.S. Treasury and the Federal Reserve under the Troubled Assets Relief Program (TARP), along with the historical fiscal stimulus proposed by Congress and the new administration, will all significantly impact the real estate market over the short and long term. This panel will address the elements of the government's response that are most likely to impact real estate and will identify some of the emerging real estate opportunities that may arise as a result.
Click here to view the PowerPoint presentation presented at the Crocker Symposium.
MODERATOR
Stuart Gabriel, Director of the Richard S. Ziman Center for Real Estate
University of California, Los Angeles
Stuart Gabriel serves as the director of the Ziman Center for Real Estate at UCLA. He is also the Arden Realty Chair and a professor of finance at the UCLA Anderson School of Management. His research focuses on topics of real estate finance and economics, housing and mortgage markets, urban and regional economics, and macroeconomics. MORE>
PANELISTS
Michael Flynn, Former General Counsel
Department of Housing and Urban Development
Michael Flynn was, most recently, both acting general counsel of the Department of Housing and Urban Development, and counsel to the Oversight Board of the HOPE for Homeowners $300 billion FHA refinance program. Prior to that, Mr. Flynn was senior counsel at World Savings Bank, managing the firm’s mortgage lending lawyers.
Melissa Vanouse, Supervisory Financial Analyst
Board of Governors of the Federal Reserve System
Melissa Vanouse is a supervisory financial analyst in the Credit Risk Section in the Division of Banking Supervision and Regulation at the Federal Reserve Board. She is responsible for monitoring credit conditions affecting banking organizations, developing supervisory guidance to address risk issues, and implementing system policies for supervising credit risk. Prior to the Federal Reserve Board, Ms. Vanouse worked as a commissioned senior bank examiner at the Federal Reserve Bank of New York.
Lawrence Wolk, Partner
Holland & Knight LLP
Lawrence Wolk is a partner at Holland & Knight LLP and practices in the real property area, emphasizing public and private sector transactions, commercial real estate finance, and single- and multi-asset, multi-state acquisitions and sales. Prior to joining Holland & Knight LLP, Mr. Wolk served for four years as assistant general counsel for real estate and asset disposition at the Resolution Trust Corporation and Federal Deposit Insurance Corporation. MORE>
Return to Breakout Sessions Listing>
The government has taken unprecedented measures to soften the hard landing from the collapse of the capital markets and resulting recession. Massive "bailouts," interest rate reductions, and other actions taken by the U.S. Treasury and the Federal Reserve under the Troubled Assets Relief Program (TARP), along with the historical fiscal stimulus proposed by Congress and the new administration, will all significantly impact the real estate market over the short and long term. This panel will address the elements of the government's response that are most likely to impact real estate and will identify some of the emerging real estate opportunities that may arise as a result.
Click here to view the PowerPoint presentation presented at the Crocker Symposium.
MODERATOR
Stuart Gabriel, Director of the Richard S. Ziman Center for Real Estate
University of California, Los Angeles
Stuart Gabriel serves as the director of the Ziman Center for Real Estate at UCLA. He is also the Arden Realty Chair and a professor of finance at the UCLA Anderson School of Management. His research focuses on topics of real estate finance and economics, housing and mortgage markets, urban and regional economics, and macroeconomics. MORE> PANELISTS
Michael Flynn, Former General Counsel
Department of Housing and Urban Development
Michael Flynn was, most recently, both acting general counsel of the Department of Housing and Urban Development, and counsel to the Oversight Board of the HOPE for Homeowners $300 billion FHA refinance program. Prior to that, Mr. Flynn was senior counsel at World Savings Bank, managing the firm’s mortgage lending lawyers.Melissa Vanouse, Supervisory Financial Analyst
Board of Governors of the Federal Reserve System
Melissa Vanouse is a supervisory financial analyst in the Credit Risk Section in the Division of Banking Supervision and Regulation at the Federal Reserve Board. She is responsible for monitoring credit conditions affecting banking organizations, developing supervisory guidance to address risk issues, and implementing system policies for supervising credit risk. Prior to the Federal Reserve Board, Ms. Vanouse worked as a commissioned senior bank examiner at the Federal Reserve Bank of New York. Lawrence Wolk, Partner
Holland & Knight LLP
Lawrence Wolk is a partner at Holland & Knight LLP and practices in the real property area, emphasizing public and private sector transactions, commercial real estate finance, and single- and multi-asset, multi-state acquisitions and sales. Prior to joining Holland & Knight LLP, Mr. Wolk served for four years as assistant general counsel for real estate and asset disposition at the Resolution Trust Corporation and Federal Deposit Insurance Corporation. MORE> Return to Breakout Sessions Listing>