Fed Chair’s Housing Market ‘Correction’ Projection: UMD Smith Mortgage Risk Expert Available

Financial risk expert Clifford Rossi at the University of Maryland’s Robert H. Smith School of Business is available to comment surrounding Fed Chair Jerome Powell stating that the U.S. housing market will probably go through a "correction" after a period of "red hot" price increases. Powell, made these comments following the Fed’s decision to raise benchmark interest rates by another three-quarters of a percentage point.

Rossi, professor of the practice and executive-in-residence for Smith’s Center for Financial Policy, has held senior executive roles in risk management at several of the largest financial services companies. His most recent position was Managing Director and Chief Risk Officer for Citigroup’s Consumer Lending Group, where he oversaw a $300+B global portfolio of mortgage, home equity, student loans and auto loans. He also held senior risk management positions at Freddie Mac and Fannie Mae and served as Chief Credit Officer at Washington Mutual (WaMu) and as Managing Director and Chief Risk Officer at Countrywide Bank.