Bangkok--23 Aug--Standard & Poor's
Standard & Poor's Ratings Services will hold a telephone conference call on Tuesday, Aug. 24, 2010, at 1 p.m. U.S. Eastern Daylight Time to discuss its recent report, "The Rise In Housing Finance Agency Delinquencies Has Slowed, But The Future Is Uncertain."
In the first quarter of 2010, housing finance agency (HFA) delinquencies declined for the first time since overall performance of loans began to deteriorate in the second quarter of 2008. Standard & Poor's believes that the extension of the home buyer tax credit, which has now expired, may have helped minimize new defaults and slow the rate of cumulative defaults. However, Standard & Poor's believes that declining mortgage applications for new home purchases, slower sales following the expired tax credit, more distressed home sales as a result of foreclosure, a large backlog of distressed properties that haven't been marketed for sale yet, and a high unemployment rate may further hamper home prices. As a result, Standard & Poor's believes that default rates on HFA loans may increase again in second-quarter 2010.
Please join senior analysts from Standard & Poor's Housing Group, Valerie White, senior director and analytical manager, and Larry Witte, director, for an interactive, live teleconference and Q&A to discuss HFA single family loan delinquency.
If you have any specific questions that you would like to submit ahead of time, please submit by sending an e-mail to
[email protected] by Monday, Aug. 23, 2010.
Please note that Standard & Poor's offers all of its broadcast teleconference calls to all interested participants on a complimentary basis.
The call will begin promptly at 1 p.m. Please call at least 15 minutes before the scheduled start of the call to complete the pre-call registration process.
Live Dial-in Number:
1-210-234-6461
Conference ID#: 4172568
Passcode: SANDP
Replays: Recorded replays of the call are made available about an hour after the call concludes and are available until Tuesday, Aug. 31, 2010. Replay number: 1-402-998-0566.
Streaming Audio: The call will also be available live in "listen-only" mode at www.events.standardandpoors.com for listeners with the Real Player? software, sound card, and speakers. The Streaming Audio playback is available until Tuesday, Sept. 21, 2010. If you have any questions about the conference call, please e-mail:
[email protected].
Please send any address corrections via e-mail to
[email protected].
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Media Contact:
Ana Sandoval, New York (1) 212-438-5095,
[email protected]
Analyst Contacts:
Lawrence Witte, San Francisco (1) 415-371-5037
Valerie White, New York (1) 212-438-2078