The Federal Reserve Bank of New York hosted a virtual event, "An Economy That Works for All: Fostering Low-Income Homeownership" on November 18, 2021. This multi-disciplinary event featured presentations by researchers at Federal Reserve Banks on the latest research on mortgage forbearance and refinancing, with focus on differences across income and race. The event also featured a discussion by business and nonprofit leaders working to prepare low-income families for home ownership and build capacity in organizations focused on expanding home ownership. A second panel featured leaders from the financial and banking sector discussing their efforts to address hurdles to first-time homebuying for low-income families and mortgage forbearance.
November 18, 2021
10:00am-11:45am EDT
The event was open to the public and the media. All remarks were on the record and the event was recorded.
| 10:00am-10:05am | Welcome Theresa Torres, Chief Diversity Officer, Federal Reserve Bank of New York |
| 10:05am-10:25am | New Research on Housing Finance Introductory Remarks: Andrew Haughwout, Senior Vice President and Policy Lead, Federal Reserve Bank of New York Forbearance: Donghoon Lee, Officer and Research Economist, Federal Reserve Bank of New York Presentation Refinances: Paul Willen, Senior Economist and Policy Advisor, Federal Reserve Bank of Boston Presentation |
| 10:25am-11:05am | Community Development Panel Discussion: The Reality of Homeownership & Community-led Solutions Moderator: Tony Davis, Community Affairs Officer and Director of Community Development, Federal Reserve Bank of New York Michael Loftin, Chief Executive Officer, Homewise Noelle Melton, Vice President of National Homeownership Programs & Lending, NeighborWorks America Bernell Grier, Executive Director, IMPACCT Brooklyn |
| 11:05am-11:45am | Financial Services Panel Discussion: Conversation with Bankers on Homeownership Inequities Moderator: Janis Frenchak, Vice President of Consumer Compliance, Federal Reserve Bank of New York Jay Bacow, Managing Director, Morgan Stanley Patricia Sampson, Vice President, Banco Popular Cerita Battles, Managing Director, JPMorgan Chase |
| 11:45am | Closing David J. Erickson, Senior Vice President and Head of Community Development & Education, Federal Reserve Bank of New York |
This event was open to the media. All remarks were on the record and the event was recorded. Press contact: Ellen Simon, ellen.simon@ny.frb.org
Housing and Financial Capability Survey - NeighborWorks America
November 2021
Forbearance Participation Declines as Programs’ End Nears
August 2021
What’s Next for Forborne Borrowers?
May 2021
Small Business Owners Turn to Personal Credit
May 2021
What Happens during Mortgage Forbearance?
May 2021
Keeping Borrowers Current in a Pandemic
May 2021
Mortgage Rates Decline and (Prime) Households Take Advantage
February 2021
Following Borrowers Through Forbearance
November 2020
Debt Relief and the CARES Act: Which Borrowers Face the Most Financial Strain?
August 2020
Debt Relief and the CARES Act: Which Borrowers Benefit the Most?
August 2020
Are Financially Distressed Areas More Affected by COVID-19?
August 2020
Inequality in U.S. Homeownership Rates by Race and Ethnicity
July 2020
Homeownership and Housing
Federal Reserve Bank of New York Staff Reports, January 2020
