Homeowner Affordability and Stability Plan: Challenges for Lenders, Servicers and Investors
Thursday, March 5, 2009
8:00 a.m. - 8:30 a.m. PST
10:00 a.m. - 10:30 a.m. CST
11:00 a.m. - 11:30 a.m. EST
4:00 p.m. - 4:30 p.m. GMT
On February 18, President Obama released the Homeowner Affordability and Stability Plan ("HASP"), which provides a broad strategy for addressing problems in the housing market. The HASP addresses the following three specific areas: refinancings of existing mortgage loans, loan modifications for at-risk homeowners and supporting low-cost mortgage rates by strengthening Fannie Mae and Freddie Mac. The implementation of HASP and the proposed changes to the Bankruptcy Code will raise a number of challenges for the mortgage industry.
Please join us for a 30-minute teleconference, the next in our continuing series on the financial crisis, in which we will address such questions as:
- What does the implementation of HASP mean for lenders, servicers and investors?
- What is the possible impact of the pending "cram down" legislation on the residential mortgage market?
- Will HASP and the other planned initiatives help stabilize the residential mortgage market or is additional action required?
Mayer Brown's Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm's global resources from multiple practices and offices, the Initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.
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For additional information, please contact Ellen Hotter at
or +1 212 506-2331.