|8:00 am||Registration and Coffee|
|8:30 a.m.|| Welcoming Remarks
|8:40 am||Session I: Economic Analysis of Mortgage Product Development, Market Structure, and Mortgage Outcomes
Real estate and mortgage market experts will explain how and why the mortgage market developed to include products with a wide variety of features offered to consumers with varying credit histories and assets. Panelists will provide an historical overview of the mortgage market, an understanding of developments of the non-prime mortgage market, and an analysis of mortgage features of concern to consumer policy analysts, including: pre-payment penalties, no down-payment loans, interest-only mortgages, and various adjustable interest rate products. They will also examine changes in mortgage retailing.
|10:25 a.m.||Session II: Economic Analysis of Consumer Information and Mortgage Choice
This panel will feature experts on information economics, consumer behavior, and consumer information research in the mortgage market. Panelists will provide an overview of the role of information on consumer choice from an economic perspective, and empirical research on consumer mortgage knowledge and consumer understanding of mortgage disclosures. The role of advertising in the mortgage market will also be examined.
|11:55 a.m.||Lunch Break|
|1:00 p.m.||Welcoming Remarks for Afternoon Session
|1:10 p.m.||Session III:. Roundtable Examining Relationship between Consumer Information and the Mortgage Market Crisis
Experts on housing markets, mortgage markets, consumer information and consumer behavior will be asked to consider how consumer information issues and changes in the mortgage market, discussed in the two prior sessions, may be related to recent problems in the mortgage market.
|3:00 p.m.||Session IV: Developing Disclosures for Real Consumers to Help Prevent Deception, Delinquency, and Foreclosure – Where Should Policymakers Go From Here?
This final panel will discuss how consumer information policies could be developed to help prevent deception and delinquencies in the mortgage market. The panel will include experts on information mortgage policy proposals, disclosure design, consumer behavior, and mortgage finance needs of consumers. Panelists will consider what information people need most, when they need the information, and the role of consumer research in designing and testing information that consumers will understand.
|4:30 p.m.||Closing Remarks