skip to main navigation skip to secondary navigation skip to content
Board of Governors of the Federal Reserve System
skip to content

Hearings under the Home Ownership and Equity Protection Act (HOEPA)


Building Sustainable Homeownership: Responsible Lending and Informed Consumer Choice

June 9, 2006

Federal Reserve Bank of Philadelphia
10 Independence Mall,
Philadelphia, Pennsylvania 19106

Transcript (PDF)


8:30 a.m

Welcome and Opening Remarks

Governor Mark W. Olson, Board of Governors of the Federal Reserve System


9:00 a.m.

The Subprime Market: How Consumers Shop for Credit


Janice Bowdler, Housing Policy Analyst, National Council of La Raza

Douglas G. Duncan, Senior Vice President and Chief Economist, Research and Business Development, Mortgage Bankers Association

Ira Goldstein, Director, Policy & Information Services, The Reinvestment Fund

Peter M. Zorn, Vice President, Housing Analysis and Research, Mission Oversight and Development, Freddie Mac


10:30 a.m.



10:45 a.m.

The Subprime Market: The Role of Mortgage Brokers


Irv Ackelsberg, Managing Attorney, Community Legal Services of Philadelphia

David Berenbaum, Executive Vice President, National Community Reinvestment Coalition

David Bleicken, Director, Bureau of Licensing, Investigation and Consumer Services, Pennsylvania Department of Banking

Joe Falk, National Association of Mortgage Brokers

Jack Guttentag, Professor Emeritus of Finance, The Wharton School of the University of Pennsylvania


12:15 p.m.

Break for Lunch


1:30 p.m.

The Subprime Market: Best Practices


Loretta Abrams, Vice President for Consumer Affairs, HSBC

Bruce Dorpalen, Director of Housing Counseling, ACORN Housing Corporation

Eric Eve, Executive Director of Community Relations, Citigroup

Mark Pinsky, President and CEO, Opportunity Finance Network

Eric Stein, President, Center for Community Self Help



3:00 p.m.

Open Microphone



4:00 p.m.



Last update: May 12, 2014