Ohio Foreclosure Summit
Implementing Solutions To Ohio’s Foreclosure Crisis
Nov. 13 - 14, 2006
Foreclosure Counseling Workshop
November 15 – 16, 2006
Wyndham Hotel, Two Seagate, Summit St., Toledo, Ohio 43604 Summit & Workshop Sponsors
Charter One Bank Chase Summit & Workshop Conveners Fannie Mae Cuyahoga County Foreclosure Prevention Program Fifth Third Bank Federal Reserve Bank of Cleveland Huntington Bank HomeOwnership Center of Greater Dayton Key Bank Miami Valley Fair Housing Center Miami Valley Fair Housing Center National City Bank National City Bank NeighborWorks® America National Fair Housing Alliance Option One NeighborWorks® Toledo Fair Housing Center New Century Financial Corporation Fannie Mae Option One Freddie Mac State Farm Bank Skybank University of Toledo Urban Affairs Center
Monday, November 13, 2006 Reception 5:00 p.m. – 7:00 p.m. Light Hor d’oerves 5:00 – 5:10 Welcome Jim McCarthy, Miami Valley Fair Housing Center, Chair of National Fair Housing Alliance Remarks Paul Poston, NeighborWorks® Music Clarence Smith Jazz Ensemble Tuesday, November 14, 2006 Ohio Foreclosure Summit Sessions Implementing Solutions to Ohio’s Foreclosure Crisis 8:00 – 8:30 Registration and Continental Breakfast Reception Hall Opening Remarks Lisa Rice, Toledo Fair Housing Center Opening Address Introduction of Speaker Van Randolph, Director, Northern Ohio Office, FannieMae Implementing Solutions to Ohio’s Foreclosure Crisis Ruth Clevenger, Federal Reserve Bank of Cleveland 8:50 – 10:05 Uncovering and Preventing Predatory Lending Practices Moderator: Jeff Dillman, Housing Research and Advocacy Center
5:10 – 5:20
5:30 – 7:00
8:30 – 8:40
8:40 – 8:50
How to Determine if a Loan is Predatory Kimberly Kilby, Miami Valley Fair Housing Center Avoiding Misplacement Problems and Insuring Net Tangible Benefits to the Borrower Michael Williams, Charter One Bank Effective Tools for Identifying and Preventing Fraud Schemes Debra Brown, Manager of Anti-Fraud Liaison, Fannie Mae Dennis Jernigon, Manager of Anti-Predatory Lending Initiatives, Fannie Mae Appraisal Issues Lewis Allen, Vice President of Real Estate Valuation, Option One
10:05 – 10:20 10:20 – 11:50
Break Senate Bill 185: What Is It and Where do We Go From Here? Predatory lending has been cited as one of the contributors to Ohio’s foreclosure crisis. Senate Bill 185, which takes effect in January 2007, is designed to tighten state regulation of mortgage lending practices in the Buckeye State. This session will explore the impact of implementation of SB 185, and discuss some of the other steps being undertaken in Ohio to address predatory and abusive lending practices. Moderator: Ruth Clevenger, Vice President and Community Affairs Officer, Federal Reserve Bank of Cleveland
Overview & History of SB 185 Wendy Patton, Policy Liaison Policy Matters Ohio, Columbus Office The Ohio AG’s Enforcement Efforts and Draft Rules Thomas D. McGuire, Assistant Attorney General Industry Preparedness Luther L. Liggett, Jr., Partner, Bricker & Eckler, Government Relations Practice Group Advocacy Issues Rachel K. Robinson, Staff Attorney, Equal Justice Foundation
11:50 – 1:15 LUNCH Keynote Adress Jim Carr, Fannie Mae 1:15 – 3:00 Foreclosure Prevention Counseling and Education Efforts Moderator: Lisa Tarter, Fannie Mae
Developing a Local Marketing Plan for Foreclosure Prevention Paul Haggard, Columbus Housing Partnership
Foreclosure Efforts in Various Ohio Counties Mark Wiseman, Cuyahoga County Foreclosure Prevention Program Foreclosure Prevention Counseling: Training and Certification Opportunities Jayna Bower, NCHEC Emerging Trends for Counselors Marcia O’Connor, CCCS of Central Ohio
Group Discussion on Creative Solutions
3:00 – 3:15 3:15 – 4:30 Break Improving Communications and Getting Results Moderator: Deb Oakley, National City Bank
Pledge of Best Practices Deb Oakley, National City Bank Best Practices Highlights Donna Sheline, Chase Robin Scott Migala, Freddie Mac Terry Theologidies, New Century
Wednesday, November 15 and Thursday, November 16, 2006 8:00 a.m.-5:00 p.m. Foreclosure Counseling Workshop Beginning to Intermediate Foreclosure Prevention Learn the protocol for counseling homeowners in financial distress. Every aspect of default and delinquency will be addressed, including reasons for default; ways to maximize income and reduce expenses; calculating delinquencies; understanding the players in the mortgage marketplace; loss-mitigation options for FHA-insured and other loans; legal information about foreclosure laws and timelines; tips on effectively intervening with lenders and servicers; managing multiple mortgages or liens; and the pros and cons of refinancing. This course also satisfies the requirements for Part II of the course, Housing Counseling Certification: Principles, Practices & Techniques, Part I. Suzanne Merusi, Instructor
Meet the Speakers
Debra Brown Debra has been with Fannie Mae since 1977. Her early experience was in the multi-family servicing, project approval and loan acquisition departments. She moved into the Underwriting Management Department in 1988 and was Manager of that department from 1992 until January 2006. As manager, she directed the underwriting consultants who manage Fannie Mae’s relationship with the underwriting and quality control departments of approximately 25 percent of the company’s largest customers. In February 2006, Debra joined the Anti-Fraud Initiatives team as the Industry Liaison. Her responsibilities include developing and facilitating training classes, representing Fannie Mae at industry-related anti-fraud conferences and other events, and facilitating information-sharing and anti-fraud issues discussions with customers and other industry partners. Debra is actively involved with two non-profit anti-fraud industry groups. She is the current President of the Florida Quality Council based in Orlando, FL; and is past President and 2006 educational conference chair for the Georgia Real Estate Fraud Prevention and Awareness Coalition (GREFPAC), based in Atlanta, GA. James H. Carr Jim Carr is Senior Vice President for Research for the Fannie Mae Foundation and a visiting professor of urban planning at Columbia University. Previously, he served as Assistant Director for Tax Policy with the U.S. Senate Budget Committee. Jim is an Advisory Committee member of the Federal Reserve Bank of San Francisco Center for Community Development Investments and a certified instructor for the Texas Real Estate Commission. He serves on research or policy advisory boards at numerous colleges and universities including Harvard University and University of California-Berkeley. Jim is editor of Housing Policy Debate, which in 2004 was ranked the most influential urban policy journal in the U.S. by the Institute for Scientific Investigation. Jim’s speeches have been awarded top honors by the International Association of Business Communicators and he has been published in Vital Speeches of the Day. Jim is a 2003 Aspen Institute Scholar. Ruth M. Clevenger Ruth Clevenger is vice president and community affairs officer in the Corporate Communications and Community Affairs Department of the Federal Reserve Bank of Cleveland. Her responsibilities include strategic direction and oversight of the Bank’s community affairs office. She also develops, recommends, and directs programs to promote community development activities and fair and equal access to credit in the Fourth Federal Reserve District. Ms. Clevenger joined the Bank in 1995. She was promoted to assistant vice president and community affairs officer in 1998, and to vice president in 2002. Prior to joining the Bank, she was a Community Reinvestment Act officer at KeyCorp in Cleveland. She began her banking career in 1990 as marketing manager for KeyBank (formerly Ameritrust). Before that, she worked for several nonprofit organizations in program development and public affairs. Ms. Clevenger serves on the executive committee of Local Initiatives Support Corporation. She has a bachelor’s degree in social welfare from George Mason University and has completed graduate work in journalism at West Virginia University.
Paul Haggard Mr. Haggard oversees growth and sustainability and strategic communications for Columbus Housing Partnership, Inc., based in Columbus, Ohio. Prior to joining CHP, Mr. Haggard managed community relations and communications for Limited Brands’ home-office communities nationwide where he was awarded a Gold and Silver Quill by the International Association of Business Communicators for his work. He graduated with honors from Ohio Dominican University and is a 2003 graduate of Leadership Columbus. Denise Jernigan Denise joined Fannie Mae in 2003 as an Underwriting Manager. She managed the risk intensive products such as Fannie Mae’s EATPR and loss mitigations reviews. In July 2004, Denise transitioned to the Anti-Predatory Lending Unit to develop and implement this new group. As manager, she is responsible for monitoring the compliance screening process and ensuring that all loans reviewed meet Federal, State and Fannie Mae’s anti-predatory lending guidelines . Prior to joining Fannie Mae, Denise worked for Alliance Bank as an Underwriting Manager. She received her BBA from Stephen F. Austin State University in Finance and is currently working on her MBA at the University of Dallas with a concentration in Project Management. Her anticipated graduation date is December 2006. Kimberly Kilby Kimberly Kilby is currently the Vice President of Legal Affairs for the Miami Valley Fair Housing Center in Dayton. Ms. Kilby works with the predatory lending and fair housing staff to enforce certain federal and state civil rights and consumer protection laws and regulations. In particular, Ms. Kilby investigates and litigates predatory mortgage loans, representing consumers who have been victimized by unscrupulous lenders, mortgage brokers and others involved in the loan transaction. Ms. Kilby graduated from the University of Cincinnati College of Law in 1998 and before coming to the Fair Housing Center, worked as a federal prosecutor for the U.S. Department of Justice, Antitrust Division. Her current work is a continuation of litigating against white collar criminals who steal more money from their victims than most crooks with a gun. Luther Liggett, Jr. Luther Liggett is a partner in the Bricker & Eckler government relations group. His practice generally includes government contracting, mortgage banking, legislative advocacy, government policy formation, litigation and administrative procedure. Thomas D. McGuire Tom McGuire is a Senior Assistant Attorney General in the Consumer Protection Section, and is located in the Cleveland Office of the Ohio Attorney General. He has been in the Consumer Protection Section for nineteen years. His duties are to handle legal enforcement actions in consumer protection, which ranges anywhere from issuing subpoenas or cease and desist orders, to the boarding up of fraudulent businesses. He has been instrumental in the closure and boarding up of telemarketing scams, as well as bringing actions against unscrupulous home improvement contractors who prey upon Ohio’s senior population. Tom is admitted to both the State and Federal bars.
Deborah Oakley Deb Oakley has worked in mortgage banking for more than 22 years and with National City for 14 years. As Default Operations Manager for National City Mortgage, Deb was responsible for Collections, Loss Mitigation, Foreclosure, Bankruptcy, Claims, REO management and default support functions for a 1.1 million loan mortgage servicing portfolio. Prior to joining National City, she worked for TransOhio Savings Bank as the Debt Recovery Manager and with Sears Mortgage first as the REO Manager and later as a Senior Attorney dealing with servicing matters. In her role as Homeownership Preservation manager, she represents National City’s consumer loan divisions in outreach to consumers and consumer groups to promote homeownership preservation through responsible lending and servicing practices. She conducts educational workshops for consumers and nonprofit agencies, and works with governmental officials on issues of public interest. Deb is a member of the Freddie Mac Mortgage Operations Advisory Committee (Default) and has served on the Fannie Mae Customer Advisory Group and the MBA Steering Committee. She has a BA from University of Wisconsin and MA from the University of Illinois in political science, and a JD from Loyola University School of Law, Chicago. She is licensed to practice law in Illinois. Wendy Patton Wendy Patton works as a Policy Liaison for Policy Matters Ohio, a not-for-profit, non-partisan research organization funded primarily by grants from the Gund, Cleveland and Joyce foundations. She is a planner, with an undergraduate degree from Kent State University and a masters of city planning from the University of California at Berkeley. She has worked as staff for the Ohio Employee Ownership Center, as a Deputy Director for the Ohio Department of Development, and as a Vice President for the Columbus Urban Growth Corporation. Rachel K. Robinson Rachel K. Robinson was formerly a Statewide Attorney at Ohio State Legal Services Association (OSLSA) specializing in the areas of consumer and housing law. Ms. Robinson received her law degree from the University of Pittsburgh. She obtained her BA from Michigan State University. Ms. Robinson is currently licensed in both Ohio and Michigan and is actively involved in the Ohio Coalition for Responsible Lending, a member of the Board of Directors of COHHIO and Action Ohio, and conducts predatory lending training for attorneys. Mark Wiseman Mark graduated from Cleveland Marshall College of Law in 1992. During his career, he was a trial attorney in a wide variety of cases. He became the Director of the newly formed Cuyahoga County Foreclosure Prevention Program in the fall of 2005. Since 2003, he had been involved in the fight against Predatory Lending, as a Staff Attorney for the HOAP Program at the Housing Advocates. The HOAP Program worked to protect City of Cleveland residents from the pitfalls and dangers that are present in Ohio’s Consumer Mortgage Lending Industry, through document review, educational programs and foreclosure defense. During his career, Mark has also represented Banks and Finance Companies. The goal of The Foreclosure Prevention Program is to reduce the number of foreclosure cases that are filed. The program will provide assistance by coordinating an extensive counseling network for the County’s borrowers at all stages of the home loan process. Borrowers can access this network of counselors by dialing 2-1-1, or 216-436-2000, which is The United Way’s “First Call for Help” Hotline.