New Measures of Affordability and Economic Mobility
SMITH’s Research & Ratings will host its
Housing Finance Conference at The Palms Resort
& Spa in Miami Beach, Florida.
Constraints on income have created
affordability gaps, while demand remains pent-up in major
markets. Are the lenders looking at the upside potential of
today's first-time buyers or remaining focused on the rearview
What's more, millennials have expressed a
preference for multifamily rentals as part of a long-term desire
to have economic mobility. What can housing policies do to
recognize the changing demographics of demand?
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
Who Should Attend?
State & Local Housing Finance Officers
Directors of Taxable & Tax-Exempt
Credit Analysts at Investment Firms
Wall Street Analysts
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
Cocktail Reception Sponsor
Epoch Media Group
Russian News Agency Rossiya Segodnya
$1,025 per person
$475 per person Investor Rate $360 per person
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 - $922.50 per person
Groups of 3 or more Investors - $427.50 per person Groups of 3
or more Issuer/Government - $315 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.
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.
Address any complaints to Pamela Kilbourn, SMITH's Research &
Gradings, P.O. Box 1195,
Great Falls, VA 22066
Email to email@example.com or
phone 571-299-4954. Complaints will be handled in as timely a
manner as possible.
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
Register by Phone: (571)
Email: firstname.lastname@example.org or
Mail: SMITH's Research & Gradings,
P.O. Box 1195,
Great Falls, VA 22066.
Payment: We accept company or personal
checks; MC, Visa, AmEx and Discover credit cards or, via PayPal
using all major credit or debit cards.
9:00am Outlook for the
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
Brian Hudson Executive
Director and CEO Pennsylvania Housing Finance Agency
Mike Koessel Director, Head of
Municipal Housing Citi
Florence Zeman Associate Managing Director Moody's
9:45am Affordable Mortgage Financing
Options in Today's Market Environment This session will focus on financing options and
products used in today's Single Family and Multi-Family
market environment. From MRBs to TBAs and 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 Froehlich Chief Operating
Officer and General Counsel New York City Housing
Executive Director Wyoming Community Development
Director of Mortgage Funding Ohio
Housing Finance Agency
Mitchell, CPA Executive Vice President &
Chief Financial Officer Chicago Housing Authority
10:45am Coffee Break
11:00am Regulatory Concerns & Legal
Liabilities Panelists will discuss
current issues surrounding legal liabilities for housing
market participants. The session will also focus on the
latest developments in the implementation of the
Dodd-Frank Act, the possibility of tax reform and
consequences of IRS ongoing disclosure.
Howard Zucker Partner Hawkins, Delafield
& Wood LLP
Charles E. Carey
Member Mintz, Levin, Cohn, Ferris, Glovsky and Popeo,
1:30pm Securitization of
Products for Affordable Housing
Looking at both the single family and multifamily
sectors, the panel will explain a program benefitting
investors through an improved ability to invest in
mortgage backed securities on a tax-exempt basis.
Cleon Butterfield Senior Vice
President and Chief Financial Officer Utah Housing
Managing Director Stifel
Moriarty Managing Director Stifel
John Sager Chief Financial Officer
Idaho Housing & Finance Association
Family Variable Rate Strategies
Panelists will discuss using an integrated swap
Managing Director RBC Capital Markets
3:00 pm Buyers Panel
With changing market dynamics, panelists will discuss
what they are seeing, structured housing products being
offered through state HFAs, prepayments and refundings.
They will also discuss implications for the market and
for traditional buyers.
Managing Director Hilltop Securities
Julie Egan Senior Vice President & Portfolio
Manager Community Capital Management
Paul Jungquist, CPA, CFA Vice President,
Fixed Income Credit Analyst and Senior Fixed Income
Portfolio Manager Sit Investment Associates
Timothy Milway, CFA Director, Senior
4:00pm What's Next? An International
Affordable Housing SMITH's brings
you an international perspective on affordable housing
from Russia. Panelists will discuss oil and
commodity pricing and impacts on the Russian economy.
Discussions will cover Russian investments in the U.S.
real estate market, the impact of their economic crisis,
sanctions and more.
Terence Smith CEO
SMITH’S Research & Gradings
Ekaterina A. Sobol Special Correspondent of
Russian News Agency Rossiya Segodnya
Michael Moore Vice President, Energy
Commodities and Advisory Services FearnOil Inc.
Day One Concludes
6:00pm Cocktails and Dinner The Palms Hotel & Spa
Cocktails Sponsored by:Mintz Levin Dinner Co-Sponsored by:
Bank of America Merrill Lynch &
Smith's Research & Gradings
Friday, March 18, 2016
Registration Continental Breakfast
8:45am Welcome Terence Smith CEO
SMITH’S Research & Gradings 9:00am
HOUSING FOR THE New GENERATION Panel
Senior Director, Analytical Manager Standard & Poor's
Chief Content Provider Urban Land Institute
Carmen Chubb Deputy
Commissioner Georgia Department of Community Affairs
Grant Whitaker President & CEO Utah Housing Finance Agency
10:00am Coffee Break Sponsored by: Standard & Poor's
10:15am China: new investors at your
door China was the largest buyer of
real estate in 49 of the 50 states during 2015. This
discussion will focus on the events in China that are
driving this trend. Also, what are the types of real
estate that Chinese investors are interested in, such as
Ruby Wong Vice
President Epoch Media Group
Roundup Panelists wrap up the
conference with a discussion of trends in single family
and multifamily housing -- how can housing agencies
fulfill their missions and how can deals be transacted
using the various tools and programs in their tool
Manager of Financial and Capital
Day-Marshall, Esq. Interim Executive
Director and General Counsel District of Columbia
Housing Finance Agency