Thu 5 Dec 2019

12/5/19: LIVESTREAM from ConsumerFed's Financial Services Conference

Bill Wendel Public Seen by 156

In 1992, Maureen's Glasheen's boss, Gloria Schaeffer, then-Secretary of State in New York, told the Consumer Federation of America that "real estate is the Sleeping Giant of the Consumer movement."  

Real estate is not officially on the agenda at CFA's Financial Services Conference this year, but our issues still intersect with panels including the one right now on student debt.  Invite our peers to watch @ConsumerFed's annual Financial Services Conf on Facebook.

Housing & mortgages are next up on CFA's two-day agenda, see 



  • Introduction
    Rachel Weintraub, Legislative Director and General Counsel
    Consumer Federation of America

  • Speaker
    Brian Montgomery, Assistant Secretary for Housing – Federal Housing Commissioner
    U.S. Department of Housing and Urban Development


  • What the Qualified Mortgage Definition Means for Mortgage Consumers

  • Moderator
    Peter Carroll, Executive, Public Policy & Industry Relations

  • Panelists
    Nikitra Bailey, Executive Vice President
    Center for Responsible Lending

  • Alys Cohen, Staff Attorney
    National Consumer Law Center

  • Dan Fichtler, Associate Vice President, Housing Finance Policy
    Mortgage Bankers Association

  • Ramon Gomez, Executive Director, Office of Regulatory Affairs
    JPMorgan Chase & Co.

  • Lisa Rice, President and CEO
    National Fair Housing Alliance


Bill Wendel Thu 5 Dec 2019

Follow #CFAFSC on Twitter, here's a sample from this morning's panels

Wow! Controlling for inflation, consumer debt per person is 8 times higher than in 1962. @RichCordray @ConsumerFed #CFAFSC

— Billy J Hensley (@DrBillyHensley) December 5, 2019

1/2 #RE2020: What are potential impacts on housing market as #GreatSeniorSellOff looms https://t.co/q6eFTyvEcz

And signs some markets reaching #RETippingPoint despite "juiced" purchasing power from artificially low-interest rates?https://t.co/1rjKxTkAoa#StudentDebt #CFAFSC https://t.co/6vglX1WyuB

— Bill Wendel (@RealEstateCafe) December 5, 2019

#RE2020: Would consumer advocates at #CFAFSC agree an honest & fair market is transparent & open? Towards that end, need to address gaps in @NAR’s #MLS policy that allows megabrokers to hide private listings, distorting prices in low inventory housing markets #REBillOfRights https://t.co/MyOxGeFp4S

— Bill Wendel (@RealEstateCafe) December 5, 2019


Bill Wendel Thu 5 Dec 2019

Another tweet from #CFAFSC, anyone else concerned that their buyer clients are at risk in overheated housing markets in Greater Boston & elsewhere?

#RE2020: 3rd #CFAFSC panel addressing mortgage riskhttps://t.co/XVHonc7S9F

Not familiar w/ Ability to Repay vs be Resilient but can't help but wonder how many of 10M homeowners who lost homes to in recession 2006-14 were set-up for foreclosure?#DefensiveHomebuying #RE2020

— Bill Wendel (@RealEstateCafe) December 5, 2019



Bill Wendel Thu 5 Dec 2019

Need for affordable housing among topics addressed in keynote by Senator Jack Reed (D-RI), last panel for the day:

Posted comment there, too, linking to CFA's AgencyMess report earlier this year:

Yes, affordable housing is critical and protecting $12B in funding from HUD's $48B budget is a major victory. As housing markets begin to cool, critical that 1st-time buyers have buyer agents -- without conflicts of interest to protect and advise them to prevent overpaying. See need for agency reform, as cited by Steve Brobeck's Agency Mess report, January 2019: 



Bill Wendel Fri 6 Dec 2019

Day 2 starting at @ConsumerFed's Financial Services Conference in DC today with an important question:

How Do We Protect Consumers When the Federal Government Isn’t?  


Eager to use the visibility of the topic to ask the same of the real estate industry and invite innovators & reformers to demo their solutions, like


It's a transformative example of how innovators in the private sector can step into the regulatory void and provide market-driven solutions to inform and protect consumers.

Anyone else working on RegTech apps, or able to recommend one try demo / try?