Community Development



November 12, 2008

Richmond Fed and Hampton University Host Foreclosure Conference


The mortgage foreclosure picture in Virginia is a mixed bag. Overall, the Commonwealth fairs better than most states in its mortgage delinquency and foreclosure rates. Still, there are some problem areas. As the uncertainty of the nation’s financial system persist, leaders are challenged to develop strategies that minimize the impact on their communities.

To help communities with their efforts, the Federal Reserve Bank of Richmond and Hampton University will present “Widespread Impacts of Mortgage Foreclosures: From Credit Markets to Local Communities.” The free forum runs from 6:00-8:00 p.m., Thursday, Nov. 13, and will be held on the Hampton Campus in Room 122 of Buckman Hall. This is the fourth and final forum of the 2008 series co-sponsored by the Fed and Fifth District colleges and universities near communities hit by the current state of mortgage foreclosures.

Topics include:

  • The key drivers behind the mortgage foreclosure and credit lending crunch, nationally and locally, and how it compares with previous housing market disruptions.
  • The impact in Virginia’s neighborhoods and communities.
  • Federal Reserve, federal and local governments’ responses to local housing market conditions.

Dr. Sid H. Credle, Dean of Hampton University’s Business School will be moderator. The Fed panel includes Michael Riddle, senior financial analyst, Steve Sanderford, senior retail lending specialist, and Breck Robinson, associate professor, school of Urban Affairs and Public Policy, University of Delaware, and visiting financial economist at the Federal Reserve Bank of Richmond.

To RSVP, contact Deborah Jackson at 804.697.8913.

For information and resources, see the Foreclosure Resource Center.

The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.


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