AMERICATALYST 2011: CONVERGENCE - The globalization of housing finance, 10 years on.
Since 2002, our event has monitored the trajectory and impact of globalization on housing finance, and the globalization of housing finance. One of our main concerns has been the accelerated drive toward convergence, which brings about intensified social, political and economic interconnectedness, and blurs the boundaries between domestic matters and global affairs.
In 2011, the state of the world had reached this critical stage of convergence, as evidenced by the limits of nations to protect themselves from the spread of national (and international) economic crises and prevent a profound global financial crisis.
We had become confronted by unprecedented risks, and we had no historical compass upon which to rely. No one person had the answers, and proposed solutions were grand social experiments rather than models with historical precedent.
And so, the theme for 2011 was "Convergence," referring to the delicate state of interdependence in a globalized world which impacts the strategy of all firms involved in the mortgage lifecycle and requires changing the way we think and interact with clients and competitors both locally and globally.
As always, we presented our hallmark program beginning with a global macroeconomic overview of factors impacting the mortgage industry — including capital flows and funding — and transitioned to the most crucial issues of the main sectors of the mortgage lifecycle with an emphasis on servicing.