June 18, 2012
An unprecedented level of home loan defaults has produced a glut of REO properties and properties trapped as collateral for non-performing loans. These properties are held directly and indirectly by lenders, investors and government agencies. The excessive REO properties and properties in foreclosure have contributed significantly to the dramatic decline in residential real estate prices in virtually every market in the country. Different constituencies have been exploring creative ways to produce a sustainable housing market that works for residents and investors alike in the post-crisis era. The REO rental initiative is based on the thesis that the encouragement of overleveraged “home ownership” produced only illusory ownership, and that we are better off adjusting our housing expectations to comport with the realities of the housing market. The REO rental initiative seeks to facilitate the use of properties in foreclosure and REO properties as sources of sustainable family housing. Excess housing stock can be converted to rental housing, providing more sustainable housing solutions for overleveraged residents and more sustainable investment returns for investors in the market.
Hunton & Williams LLP has assembled a panel to provide an in-depth business and legal analysis of the issues raised by these and other initiatives.
The panel will address the following issues:
Mortgage banking professionals, hedge fund and REIT executives and in-house counsel at companies and collective investment vehicles looking into opportunities with respect to the purchase, sale, financing and securitization of REO property.
Monday, June 18, 2012
Panel Discussion: 5:30 - 6:30 p.m.
Cocktail Reception: 6:30 p.m.
Hunton & Williams LLP
200 Park Avenue, 52nd Floor
New York, NY 10166
*Panelist Daniel Gross will be signing copies of his recently released book, “Better, Stronger, Faster: The Myth of American Decline and the Rise of a New Economy," during the cocktail hour following the panel presentation.
Space is Limited
Feel free to forward this invitation to colleagues and friends whom you feel would be interested in the event.
CLE Note: This transitional continuing legal education program has been approved in accordance with the requirements of the New York State Continuing Legal Education Board for a maximum of 1.0 credit hours in Professional Practice.