Important Notices

June 03, 2008

DFI Encourages Licensees, Stakeholders to Attend FRB Symposium

The Department of Financial Institutions (DFI) encourages its licensees and other stakeholders to attend Stabilizing Communities: Addressing the Negative Impacts of Foreclosure on July 15th and 16th at the Hollywood Renaissance Hotel in Los Angeles, California. Space is limited, so please register by June 30, 2008. Registration information, lodging details, and the agenda can be found at http://www.frbsf.org/community/.

Hosted by the Federal Reserve Bank of San Francisco, the Stabilizing Communities symposium is designed to bring together national experts to share best practices for mitigating the negative impacts of foreclosure on borrowers and neighborhoods. The objective is to provide local leaders and practitioners with tangible examples of how to address the foreclosure crisis within their communities, with a special emphasis on the issues facing high-cost markets such as those in Arizona, California, and Nevada. Over the two days, plenary panels and concurrent workshops will answer the following questions:

• What models and strategies are available to both help borrowers and convert REO properties into affordable homeownership or rental units?
• How might these strategies need to be adapted for high-cost real estate markets?
• What are the challenges that governments and nonprofits face in acquiring, rehabilitating, and managing foreclosed properties?
• And how can governments and nonprofits work with servicers and lenders to successfully convert foreclosed properties into community assets?

This symposium is part of a broader Federal Reserve System series,"Recovery--Renewal--Rebuilding," that seeks to develop and disseminate innovative strategies and policies that can help to address the broad range of challenges related to the rise in mortgage delinquencies and foreclosures.