Today’s Housing Market & Election Outlook: Economic Insights for the Road Ahead
Thursday, October 17, 2024 at 1 pm CST
Session Description
There have been few more uncertain times recently than those facing the U.S. housing market. High mortgage rates, low housing inventory, and political and economic environments best described as rocky, if not outright perilous. However, with the September half-point cut in the Fed rate and a new Presidential administration ready to take the helm in January, the market is beginning to look brighter. But how bright is bright?
Let the experts from the Federal Home Loan Bank of Chicago share the insights they’ve already gained and introduce you to the Mortgage Partnership Finance® (MPF®) Program and its potential applications in light of what will likely be a stronger, more positive future for credit union mortgage lenders and the members they serve. MPF provides credit unions with competitive, easy-to-use mortgage products that promote home ownership in communities across America, and its multiple facets make it applicable to nearly all credit union lenders.
FHLBanks’ MPF program offers six tracks to help credit union mortgage lenders mitigate loans and manage risk under multiple scenarios. Conditions and criteria can vary widely from credit union to credit union and from borrower to borrower, but the MPF can handle most, if not all, the challenges from conventional and conforming loans to government loans. It all depends on credit unions’ portfolio criteria and institutional plans to manage the loans within those portfolios.
As the sun rises on the new year, with the possibility of even more Fed rate reductions and a new President settling into office, things may change substantially. Let FHLBanks give you a snapshot of the future and how best to face the pending challenges and maximize new opportunities in helping credit unions continue to serve their members in the most effectives ways possible..
- This session will be interactive so come with your questions.
- Open to anyone.
- Session will be recorded.
- By registering for this event, you submit your information to the webinar organizer and sponsor, who will use it to communicate with you regarding this event and their other services.
Speakers
James Hotchkiss
Sr. Director, Strategy and Solutions, Federal Home Loan Bank Chicago
James works within the member strategy and solutions group, analyzing member balance sheets and financial markets to provide strategies, solutions, and insights for member financial institutions. He also prepares daily and weekly market commentary reports that highlight significant developments in financial markets and economic conditions.
Prior to this, his responsibilities included pricing advance products, calculating prepayments, and hedging the advance portfolio. James joined FHLBank Chicago in 2009.
Before joining FHLBank Chicago, James worked at Capital Market Daily in London where he analyzed and wrote commentary on European medium term note markets, focusing on new issuances.
He earned a BS in Economics and Mathematics from the University of Iowa and an MBA in Analytical Finance and Economics at the University of Chicago Booth School of Business.
Dave Feldhaus
Director, External Affairs, Federal Home Loan Bank Chicago
David Feldhaus is Senior Vice President, Director of External Affairs for the Federal Home Loan Bank of Chicago. He joined the Bank in 1997 and is responsible for all government and industry relations. He heads a team that works collaboratively with a variety of external partners and stakeholders, including Members of Congress and their staffs, federal agencies, state and local governments as well as state and national trade associations involved in banking and housing finance. His prior duties have included handling the Bank’s external communications and serving as its spokesman.
Originally from South Dakota, Dave has an undergraduate degree from the University of South Dakota and a law degree from Kansas University. Prior to joining the Bank, he worked in Washington, D.C. as Counsel to the U.S. Senate Judiciary Committee and then as Counsel and Legislative Assistant to a U.S. Senator.
Julie Schneider
Manager, MPF National Education, FHLBank Chicago (Moderator)
The FHLBanks’ Mortgage Partnership Finance® (MPF®) Program provides credit unions with competitive, easy-to-use mortgage products. We help credit unions promote homeownership within their communities through access to our conventional/conforming and government loan products.
