Affordable Housing Finance Conference
Registration Info | Hotel Info | Contact Info | Agenda Sponsors | Registration |

March 19-20, 2015

Westin Beach Resort

Fort Lauderdale, Florida

Taking on the Affordability Crisis


SMITH’s Research & Ratings will host its 23nd annual Affordable Housing Finance Conference at The Westin Beach Resort in Fort Lauderdale, Florida.

Clearly, the challenges to today’s housing finance industry remain daunting. SMITH's Affordable Housing Conference explores the many issues facing the market and helps participants develop actionable solutions.

The overarching questions are: Where are there opportunities for housing sector investors and how will the affordable housing sector look going forward.

Since 1992, SMITH’S Research & Gradings has been covering the U.S. affordable housing market SMITH’S Affordable Housing Finance Conference is one of the longest running symposiums on this subject so vital to all Americans and the American economy.


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Who Should Attend?

  • State & Local Housing Finance Officers

  • Directors of Taxable & Tax-Exempt Fixed-Income

  • Portfolio Managers

  • Credit Analysts at Investment Firms

  • Wall Street Analysts

  • Rating Agency

  • Financial Advisors

  • Bond Counsel

  • Accounting Firms

  • Bond Insurance

SMITH’s Research & Gradings

SMITH’s Research and Gradings was founded by Terence Smith in 1992 to provide independent research and third-party analysis for institutional investors. SMITH’s has become a bellwether research company, often predicting significant trends and spotlighting controversial subjects sometimes months before they come to light elsewhere.


Sponsors and Exhibitors

Bank of America Merrill Lynch Moody's
Mintz S&P
First Southwest RBC Capital Markets

Registration Information

Registration Fees


Standard Regsitration

$975 per person Standard Rate
$450 per person Investor Rate
$340 per person Issuer/Governmental Rate

Registration fee includes course materials, breakfast, lunch, and breaks during the conference.

Payment by credit card, company check or personal check is required prior to the conference.



Groups of 3 or more Standard Rate - $877.50 per person
Groups of 3 or more Investors - $405 per person
Groups of 3 or more State/Local issuers - $306 per person

Cancellations are subject to a $100 service fee. Cancellations will be accepted up to 30 days prior to the Conference in order to receive a refund.
Cancellations after the 30 day cut-off will receive a registration credit toward a future SMITH’s conference program. Credits will be issued at the original registration rate and will be valid for 12 months. Registration credit requests must be received by the last day of the conference.
Substitutions from your company will be accepted any time prior to the conference.

As a SMITH's Conference attendee, you will receive a complimentary edition of SMITH's Research & Gradings — the leading independent source for credit opinions.


Program Cancellation
In the event that SMITH's Research & Gradings cancels a scheduled program, all registrants will be notified in writing. Registration fees will be refunded. In the event that a conference is cancelled, SMITH's Research & Gradings cannot be held liable for non-refundable transportation costs. In the case of inclement weather, or acts of God, if the seminar takes place, the registration is not refundable.


Complaint Resolution
Address any complaints to Pamela Kilbourn, SMITH's Research & Gradings, 10001 Georgetown Pike, P.O. Box 1195,

Great Falls, VA 22066

Email to or phone 571-299-4954. Complaints will be handled in as timely a manner as possible.

Privacy Policy & Records Retention
SMITH's values your privacy. SMITH's retains information submitted during the registration process with regard to your name, company and contact information. Credit card information is destroyed once the transaction has been processed. We will never willfully sell, lease, or rent any of your personally identifiable information to any third party

Dress Code
Business Casual.

Register by Phone: (571) 299-4954,

                    Email: or

                    Mail: SMITH's Research & Gradings, 10001 Georgetown Pike, P.O. Box 1195, Great Falls, VA 22066.

Payment: We accept company or personal checks; MC, Visa
and Discover credit cards or, via PayPal using all major credit or debit cards.


Westin Beach Resort

321 North Fort Lauderdale Beach Blvd.

Fort Lauderdale, Florida 33304
Phone: (954) 467-1111

A block of rooms is being held for our group until       February 18, 2015 at a rate of $259 per night.

For reservations:
Book online by clicking this link - Reservations
Or call the hotel - Reservations (888) 627-7108


Contact Information

Phone: (571) 299-4954


Mail: TMS Holdings, Inc.,
10001 Georgetown Pike, P.O. Box 1195

Great Falls, VA 22066


Smith's 2015 Affordable Housing Finance conference



Thursday, March 19, 2015




Continental Breakfast





Terence Smith

SMITH's Research & Gradings


9:00am the State of Affordable Housing Market
Many factors are affecting the affordable housing finance market including loan performance, variable rate rollovers, liquidity, interest rates and foreclosures. We'll take a look at market conditions, key credit concerns and the outlook for the affordable housing finance market.

Blake Blanch
Chief Financial Officer
Indiana Housing and Community Development Authority

Brian Hudson
Executive Director and Chief Executive Officer
Pennsylvania Housing Finance Agency

Michael Koessel
Director, Head of Municipal Housing

Florence Zeman

Associate Managing Director
Moody's Investors Service


key Legal Developments
Panelists will discuss current issues surrounding ongoing disclosure and legal liabilities for housing market participants. They will also explore the growing concern and need for cyber security. The session will also focus on the latest developments in the implementation of the Dodd-Frank Act and the implications for the Housing sector.

Howard Zucker
Hawkins, Delafield & Wood LLP

Charles E. Carey
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC




11:00am Single Family Roundtable: Affordable Mortgage Financing Options in Today's Market
This session will focus on financing options and products used in today's Single Family market environment. From MRBs to TBAs and new GSE products, panelists will discuss how they are managing their programs to meet customer and investor needs.

Dan Rosen - Moderator
Managing Director
Bank of America Merrill Lynch

Richard Appleton
Senior Director, Single Family Affordable Lending
Freddie Mac

Mike Awadis
Senior Vice President

David Haney
Executive Director
Wyoming Community Development Authority

Hazim Taib
Chief Financial Officer
Connecticut Housing Finance Authority




SMITH's Annual Affordable Housing Finance




1:30pm Demographic Trends and the Changing American Dream
As the demographic composition of the U.S. continues to evolve, panelists will discuss where affordable housing is needed and where it is being built and how restrictions impact development. The aging population needs and the millenials demands for affordable housing are changing the face of the traditional American homeownership dream.
Julie Egan
Senior Vice President & Portfolio Manager
Community Capital Management

Christopher Moriarty
Wells Fargo Securities



Making Housing Affordable
What direction is the affordable housing sector taking and how will new projects and programs be designed? We'll take a look at recent projects and financings in some of the nation's major metropolitan areas and discuss where affordable housing is headed.

Mike Airhart
Executive Director
Capital Area Finance Authority

Linda Riley Mitchell, CPA

Executive Vice President & Chief Financial Officer
Chicago Housing Authority

Mikyon Alexander
Senior Director, Analytical Manager
Standard & Poor's

Maria Day-Marshall, Esq
Interim Executive Director and General Counsel
District of Columbia Housing Finance Agency

Alan Jaffe
Executive Director
J.P. Morgan


Sponsored by: Standard & Poor's


3:15pm Utah's vision for tomorrow:
building a Better Housing bond
This panel will focus on Utah's use of the innovative Wells Fargo Homes program. The financing team will discuss legal opinions and structural issues.

Cleon Butterfield
Senior Vice President and Chief Financial Officer
Utah Housing Corporation

Gary Brandt
Managing Director
Wells Fargo

Frederick Olsen
Ballard Spahr LLP

Stanley Dirks
Orrick, Herrington & Sutcliffe LLP

4:00pm What's Next?
Smith's Outlook for Affordable Housing Finance

SMITH’S has championed the affordable housing finance market since 1992. SMITH's will offer insights into the longest and deepest recovery since the Great Depression — more specifically, the role of housing in leading every recovery since the Great Depression and a look at a host of events and economic factors that may need to be addressed.

Terence Smith
SMITH’S Research & Gradings

4:45pm Day One Concludes

5:30pm Transportation to COCKTAILS and Dinner
At the Chart House

6:00pm COCKTAILS - Sponsored by: Mintz Levin
Dinner -
Co-Sponsored by: BofA Merrill Lynch
                                          Smith's Research & Gradings

2015 Lifetime Achievement Award Presentation

Grant Whitaker
President & CEO
Utah Housing Corporation


Friday, March 20, 2015




Continental Breakfast


This discussion will focus on the types of liquidity products banks offer housing issuers including letters of credit, variable rate and debt.

Kurt van Kuller
Managing Director, Credit Division for the Americas
MUFG Union Bank, NA

Jacob Ulevich
MUFG Union Bank, NA

We'll start the day taking a comprehensive look at State HFA stats and trends. Panelists will analyze and discuss what those numbers mean for buyers and the market.

Charles Giordano
Senior Director
Fitch Ratings

Paul Jungquist, CPA, CFA
Vice President, Fixed Income Credit Analyst and
Senior Fixed Income Portfolio Manager
Sit Investment Associates

John Sager
Chief Financial Officer and Executive Vice President
Idaho Housing & Finance Association

9:45am Student Housing
Recently there has been a huge boom in the development of high quality student housing. Panelists will discuss this market sector, how campus communities are funded and what investors want.

John Thomas
Squire Patton Boggs

Alan Jaffe
Executive Director
J.P. Morgan

John Long
Chief Operating Officer & Senior Vice President
University of South Florida



10:45am Update on Multifamily Projects

Paul Haley
Managing Director

Richard Froehlich
Chief Operating Officer and General Counsel
New York City Housing Development Corporation

Charles Karimbakas
Manager of Financial and Capital Planning

Colin McNiece
Mintz Levin

11:30am Funding Energy Efficiency
Panelists will discuss programs to finance energy efficiency, renewable energy, and water conservation upgrades to buildings, including how the funding mechanism works. We'll take a look at successful initiatives in New York and Florida.

Andrew Chintz
National Public Finance Guarantee

David Gabrielson 
Executive Director

Laura Franke
Public Financial Management, Inc.