Join us for a conversation where industry experts will discuss the changing policy landscape, and its implications for the commercial real estate industry.
Approximately, one year since the beginning of a nationwide lockdown, we have a new administration, with an emerging set of new policies. With COVID-19 variants affecting the near term outlook, uncertainty remains high.
- How did the changes in administration affect the economic outlook for 2021 and beyond? What are the most significant changes to our CRE outlook?
- What are the most important new policies for the CRE industry that are likely to be enacted soon, and why should market participants care?
- What are the risks associated with changing policy platforms, and what concerns are lenders, borrowers, and other industry players expressing?
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Speakers
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CloseKeith Banhazl is a Managing Director and Head of Commercial Real Estate Finance for Americas within the Structured Finance Group and leads the team responsible for CMBS & CRE CLO new ratings and surveillance at Moody’s Investors Service. The team is responsible for reviewing Conduit/Fusion, Large Loan/Single Borrower, Agency CMBS, Credit Tenant Lease, Small Balance Commercial, CRE CLO, CRE CDO and other structured products at Moody’s Investors Service. He is also Moody’s Global Structured Finance Outreach Coordinator. He has been involved in various research initiatives and outreach activities related to the CRE securitization space, publishing and speaking on Moody’s behalf. Prior to being appointed to his current position, Mr. Banhazl was a Managing Director within the Structured Finance Group leading the US CMBS and CRE CLO/CDO Surveillance team and the review of primary US CRE CLO/CDO transactions, including the credit assessment team for commercial real estate assets within CRE CDO’s and CLO’s as well as Structured Credit transactions. Previously at Moody’s, he rated various fixed and floating-rate Conduit/Fusion and Large Loan CMBS transactions. Mr. Banhazl has a Bachelor of Arts degree from Brown University in Economics and History
Sairah Burki is Managing Director, Regulatory Policy at CREFC, where she focuses on regulatory issues with a significant impact on the commercial and multifamily real estate finance industry.
Prior to joining CREFC, Sairah was a Managing Director and Head of Policy at the Structured Finance Association (SFA). Over the course of her six years at SFA, Sairah built the organization’s asset-backed policy function—developing its strategic response to new policy initiatives and regulatory requirements across a wide range of topics in the structured finance industry. Areas she covered included the Volcker Rule, risk retention, capital and liquidity requirements, Reg AB II disclosure requirements, and derivatives rulemakings. Most recently, Sairah worked extensively on the LIBOR transition, representing SFA on the Alternative Reference Rates Committee (ARRC) and co-chairing with Lisa Pendergast the ARRC’s Securitization Working Group.
While at SFA, Sairah established and served as the first Executive Director of the Structured Finance Foundation, ensuring it fulfilled its mandate to enhance educational opportunities for underserved young people through scholarship funding.
Before joining SFA, Sairah spent seven years at Capital One where she was a Director on the securitization team, working on deal execution, feasibility studies across new trust structures, and compliance requirements. During the 2008 financial crisis, as Director of Treasury Policy, Sairah pivoted from a securitization role to one focused on developing Capital One’s response to the myriad Dodd-Frank and Basel proposals that had significant corporate finance and capital markets implications. Prior to Capital One, Sairah spent three years on the capital markets team at Xerox Corporation where she worked on unsecured issuance, ran the share repurchase program, and helped manage the derivatives portfolio.
Sairah graduated cum laude from Princeton University with a BA in Public Policy and received her MBA from the University of Pennsylvania’s Wharton School.
Victor Calanog, Ph.D. CRE® is the Head of Commercial Real Estate Economics at Moody’s Analytics. He and his team of economists and analysts are responsible for the firm’s commercial real estate market forecasting, valuation, and portfolio analytics services.
Dr. Calanog's research has received awards and fellowship support from several institutions, including the Ford Foundation, the Russell Sage Foundation and the Penn Lauder Center for International Business Research.
Kathyanne S. Cohen is a Senior Vice President in Government & Public Affairs at Moody’s. Kathyanne opened Moody’s Washington, DC office in November 2013. She represents the company’s domestic and international interests in DC. Kathyanne is also responsible for supporting Moody’s global engagement strategies. This role encompasses developing and implementing Moody’s US plan, including managing relationships with trade associations, think tanks and other third parties, as well as advancing outreach efforts beyond the US, in particular in Asia and Latin America.
Kathyanne joined Moody’s in September 2008 with nearly 10 years of experience as an attorney. As a litigator, she practiced in a wide range of areas, including civil law cases involving contractual disputes, fraud actions, insurance claims and international law, as well as white collar investigations and inquiries. Prior to Moody’s, Kathyanne held positions at Kaplan Landau LLP and O’Melveny & Myers LLP. She clerked in federal court for the Honorable Lowell A. Reed, Jr., S.J. for the Eastern District of Pennsylvania.
Before working as a lawyer, Kathyanne spent several years in Washington DC, where she held positions at the Democratic National Committee and the Women’s Campaign Fund.
Kathyanne graduated with a J.D. from the Temple University School of Law, where she was on Law Review. She received a B.A. in History from the University of Pennsylvania.
Kevin is a senior director and Head of CRE Economic Analysis at Moody’s, responsible for research, thought leadership and strategic initiatives for the Moody's CRE group, with a focus on capital markets and climate risks. He’s the industry member chair of the Commercial Real Estate Finance Council ESG and Sustainability Initiative. He was formerly director of CRE and CMBS research in the Moody’s Investors Service. Prior to joining Moody’s, Kevin held CRE research roles at ING Clarion and Jones Lang LaSalle. He also practiced as a structural engineer, designing large scale commercial buildings in California. Kevin holds an MS from the Massachusetts Institute of Technology and a BS from the University of Texas at Austin.