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Ed DeMarco

Showing 1–3 of 3 transcripts.

  1. Milken Institute1h 0m

    How to Restart the Private Market for Mortgage Credit

    Ed DeMarco, Lindsey Johnson, Stanford Kurland, Ed Royce, Bryan Whalen, Stan Curlin

    The Federal Housing Finance Agency and Treasury Department are actively accelerating Credit Risk Transfer initiatives to move approximately $5 trillion in mortgage credit risk from government-backed balance sheets to private capital markets. Despite significant growth in volume and investor participation from asset managers and hedge funds, the market faces structural challenges including liquidity constraints, regulatory barriers for banks, and a lack of data standardization that hinders small lender access. Industry stakeholders advocate for legislative reforms to broaden the investor base, expand reinsurance mechanisms, and standardize loan-level data to fully revive the private label securities market and ensure long-term financial stability.

  2. Milken Institute1h 45m

    Priced out: Can high-density housing solve the affordability crisis? (KPCC Forum Series)

    Dana Cuff, Ed DeMarco, Larry Gross, William K. Huang, Jeff Schaffer, Josie Huang, John Cohn, Kevin Clowden, Bill Davis, Josie Wong, Bill Huang

    Co-presented by KPCC and the Milken Institute, the "Rescuing the California Dream" forum series convened experts to address Southern California's severe housing affordability crisis, noting that 30% of households cannot afford a median home amidst a deficit of 527,000 affordable units. Panelists identified root causes such as restrictive zoning, decimated state funding, and the exploitation of the Ellis Act, while proposing solutions including CEQA reform, adaptive reuse of vacant buildings, and transit-oriented development to increase density without relying solely on high-rises. The event concludes with a summary panel at the December Milken Institute California Summit, emphasizing the urgent need for a comprehensive state-level strategy to prevent deepening economic segregation and to ensure no net loss of existing affordable housing.

  3. Milken Institute1h 0m

    Rebuilding Housing Finance: The Next Steps

    Ed DeMarco, John Bartling, John Delaney, Nagendra Jayanty, Rick Lazio, Phillip Swagel

    Leading policymakers and market experts convened to analyze the post-crisis housing finance landscape, highlighting that taxpayer-backed support now comprises 75% to 80% of U.S. mortgage finance while homeownership rates have stagnated near 64%. Participants scrutinized the Delaney-Carney-Himes legislative framework, a proposal designed to reintroduce private capital by mandating a 5% first-loss layer and forcing the government to sell guarantee exposure pari passu to market investors. The dialogue concluded with a strategic pivot away from broad homeownership subsidies toward targeted affordable housing solutions, projecting an incremental 20-to-30-year transition from government-heavy models to private market risk absorption.