The Future of the Housing Market
Barbara Desoer, President, Bank of America Home Loans
Jed Kolko, Ph.D., Policy Fellow, Public Policy Institute of California – Moderator
Bank of America’s purchase of mortgage giant Countrywide three years ago came at the height of the housing crisis. Since that time, Bank of America has spent billions of dollars to clean up legacy issues including a recent announcement to pay $8.5 billion to resolve nearly all of the Countrywide-issued first lien residential mortgage-backed securitization repurchase exposure - the largest settlement in the banking industry to date. Desoer will discuss the future of the housing market: the various reforms in play, the state of lending, foreclosure trends and housing recovery metrics. With Bank of America being the largest U.S. bank by assets and the nation’s second largest lender, originating one out of every five home loans, Desoer is uniquely positioned to provide insight into the housing industry. She has been with Bank of America since 1977 and, in 2010, was named one of the “50 Most Powerful Women in Business” by Fortune magazine and one of the “25 Most Powerful Women in Banking” by U.S. Banker.
Location: SF Club Office
Time: 5:15 p.m. networking reception, 6 p.m. program
Cost: $20 standard, $12 members, $7 students