Housing Finance in Emerging Markets: Is the Expansion Affected by the Sub-Prime Crisis?

Date: May 28 - 30, 2008
Location: Washington, D.C.
Organized by: World Bank Group
Target audience: Financial policymakers, housing and urban policy and private market stakeholders. Mortgage regulation departments of central banks; ministries of housing and development, ministries of finance; mortgage market facilities and securities and exchange commissions; securitization companies and housing funds; mortgage companies; and donor institutions.
Contact: Colleen Mascenik at cmascenik@worldbank.org or via fax: +1 202 522 3480

Le programme offrira la traduction simultanée en français.
See speaker biographies here.
Overview: Housing finance markets have been changing dramatically in both emerging and developed economies. On the one hand, housing finance markets are expanding and represent a powerful engine for economic growth in many emerging economies. However, the unfolding sub-prime mortgage crisis highlights the risks and potential turbulence that this sector can introduce into the financial system when expanding without proper infrastructure and regulation. As housing finance keeps growing in emerging economies to match a rising demand for housing, new risk management approaches, business models, funding tools, and policy instruments can help expand markets, increase access to affordable housing, and contribute to countries’ strategies for sheltering the poor. Yet many questions remain about the right balance between innovation and regulation, the extent of risks to the financial system, the appropriate role of the state to promote affordable housing, and the effects of the sub-prime crisis.

In this context, the World Bank Group is presenting its third Global Conference on Housing Finance in Emerging Markets that will take place May 28-30, 2008, in Washington, D.C. The conference is organized by the World Bank and the International Finance Corporation, reflecting their respective roles in working with governments and the private sector. Experienced practitioners and policymakers will address:

• Risk exposure and lessons from the sub-prime mortgage crisis
• Evolution of business and funding models
• Legal and regulatory foundations for housing finance
• The role of specialized housing finance institutions and risk-sharing instruments
• Development of mortgage securities during the current global liquidity crisis
• Affordable housing finance solutions for the poor, including the rental sector