Washington, D.C. – UNC Center for Community Capital director Roberto G. Quercia discusses FHA’s mounting losses at a Center for American Progress event Nov. 30 in Washington, D.C.
The Wall Street Journal writer Nick Timiraos will moderate a panel discussion, “Putting the FHA’s Financial Problems in Perspective,” with Quercia and other national experts. FHA Acting Commissioner Carol Galante will deliver keynote remarks. (Register to attend)
“The simplest way to recapitalize FHA’s reserves is to allow it to continue serving the market while reducing losses on troubled loans already on its books,” Quercia and graduate research assistant Kevin Park wrote in a guest opinion in the Charlotte Observer Nov. 20. “Staying the course will keep the housing recovery on track and allow the agency to regain strength and continue its vital role in our economy.”
FHA faces mounting losses from the housing crisis after helping millions of families achieve homeownership for the past 80 years and promoting stability in the U.S. housing market. Galante will address major findings from the agency’s 2012 actuarial review and annual report to Congress. Panelists will discuss the findings, the role FHA played in recent years and lessons for the future.
Quercia is an expert in mortgage finance and co-author of Regaining the Dream: How to Renew the Promise of Homeownership for America’s Working Families. The new book examines the real causes of the foreclosure crisis and describes research-based strategies for how to rebuild a sustainable U.S. housing finance system.
Housing finance is a key area of study for the UNC Center for Community Capital, the leading center for research and policy analysis on the transformative power of capital on households and communities in the United States. The center is part of the College of Arts and Sciences at the University of North Carolina at Chapel Hill. Its in-depth analyses help policymakers, advocates and the private sector find sustainable ways to expand economic opportunity to more people, more effectively. For more information, visit www.ccc.unc.edu or call (919) 843-2140.
Topics(s): Affordable Homeownership, Mortgage Finance