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Blog » Wharton International Housing Finance Course in One Day: Agenda, Presentations, Pictures from the event

Wharton International Housing Finance Course in One Day: Agenda, Presentations, Pictures from the event

Created Dec 06 2016, 12:45 PM by Rodica Tomescu-Olariu


Dear colleagues,

Thank you to those who have attended Wharton International Housing Finance Course on December 5th! We truly appreciate your interest in the housing-related activities sponsored by the Affordable Housing KSB!


Please find, here attached, three PPT presentations from yesterday's session. Courtesy of Drs. Marja Hoek-Smit, Director of the International Housing Finance Program of the Wharton School, we are posting the first in a series of 5 PPTs that she presented yesterday, namely the one on "The Critical Importance of Housing Finance in Solving Persistent Housing Problems". In case  you are interested in knowing more about Wharton International Housing Finance Program and/or access her other 4 presentations: "HF Risks, Pricing, Funding", "Alternative HF Instruments", "Expanding mortgage finance down-market w/o subsidies" and "Subsidies", you can email professor Hoek-Smit at


Thank you again for your interest and stay tuned for future events organized or co-organized by the Affordable Housing KSB!












Wharton International Housing Finance Course in One Day

December 5 / 9:00 AM – 3:30 PM /C2-150




This one-day training course draws upon 31 years’ experience of the Wharton International Housing Finance Program. The course will be led by Drs. Marja Hoek-Smit, Director of the program, a globally recognized leader in housing finance with extensive experience in housing finance system development in advanced and emerging economies. In addition, seasoned Housing Finance specialists of the World Bank will be drawn in for particular cases and topics.

This one day training course will consist of five sessions: the role of housing finance in expanding both the demand for, and the supply of affordable housing; (ii) risks and pricing; different housing finance systems to deal with risks; iii) expanding housing finance down-market (overview and 1 case study); (iv) non-mortgage housing finance (overview and 1 case study); and (v) finance-linked subsidies; the role and design of government subsidies to increase access to housing finance.

*Brought to you by the Affordable Housing KSB*



9:00 – 9:15 AM – Opening remarks

Anna Wellenstein, Director, Urban, Rural & Social Development Department, GSURR


9:15 – 9:45 AM – Session 1: The Role of Housing Finance in Expanding both Demand for, and Supply of Affordable Housing

  1. Drs. Marja Hoek-Smit, Director of the International Housing Finance Program of the Wharton School Zell/Lurie Real Estate Center of the University of Pennsylvania.


9:45 – 11:00 AM – Session 2: Risks and Pricing; Different Housing Finance Systems to Deal with Risks - overview

  1. Drs. Marja Hoek-Smit


11:00 –11:15 AM – Coffee/Tea Break


11:15 – 12:30 PM -Session 3: Non-Mortgage Housing Finance (overview and 1 case study)

  1. Drs. Marja Hoek-Smit and Victor Mints, Housing Finance Specialist at World Bank Group Finance & Markets Global Practice.


12:30 – 1:30 PM – Lunch


1:30 – 3:30 PM – Session 4: Expanding Housing Finance Down-Market


Session 5: Finance-linked Subsidies; the role and design of government subsidies to increase access to housing finance

(2 case studies)

  1. Drs. Marja Hoek-Smit, Loïc Chiquier, Senior Advisor, Finance and Markets and Angelica Nunez, Senior Urban Specialist, GSU10 and



3:30 – 4:15 PM – Q&A Session


4:15 – 4:30 PM – Concluding remarks

*For more information, please contact Rodica Tomescu at


Speakers’ BIOs:


Drs. Marja Hoek-Smit is the Director of the International Housing Finance Program of the Wharton School Zell/Lurie Real Estate Center, and an Adjunct Professor in the Wharton Real Estate Department of the University of Pennsylvania. Her work focuses on housing markets, urban and housing policy, and the deepening of housing finance systems, particularly in developing and emerging market economies. Specifically, her research and consulting work has included policy reforms to improve the functioning of housing and real estate markets, reform and design of housing and housing finance‐linked subsidy programs, housing demand and affordability analyses, the development of housing and housing finance indicators, design and implementation of upgrading strategies and monitoring and evaluation systems for housing programs.


She develops, coordinates and teaches executive education programs in housing finance and housing market analysis both at Wharton and in emerging market countries. She has consulted with clients including the World Bank, International Monetary Fund, USAID, the United Nations, the Inter–American Development Bank, and directly for governments, non‐governmental organizations and private financial institutions. She has worked and lived in more than 50 countries in Sub‐Saharan Africa, the Middle East, South and East Asia, Latin America, and East and Central Europe. She currently works on housing finance and subsidy policies in Argentina, Mexico, Egypt, South Africa and Indonesia.


Drs. Hoek‐Smit is also the founder and Executive Director of the Housing Finance Information Network—HOFINET—a global web portal that consolidates international housing finance information and statistical data for public use. The HOFINET portal is sponsored by the Wharton School and CAFH.


Drs. Hoek‐Smit has lectured internationally at leading universities and has been a keynote speaker at major national and international professional meetings. She completed her doctoral degree at the University of Amsterdam. Prior to teaching at the University of Pennsylvania, she taught at the University of Nairobi, Kenya.




Loïc Chiquier is the World Bank Group Chief Technical Specialist of the Finance and Markets Global Practice where he holds the primary responsibility for global partnership engagement on a range of high-priority issues for growth such as housing finance, infrastructure finance, capital markets development, disaster risk management or financial inclusion. He is also serving as the Global Lead for infrastructure finance and housing finance.


Previously, he served as the Director for the World Bank Group’s Global Practice on Capital Market Development and as the Director for financial and private sector development in the Middle East and North Africa (MENA). Loic has considerable experience in the development of securities markets, reforms of institutional investors, developing innovative insurance services and promoting accessible housing finance markets. In this latter capacity Loic has led many successful advisory and knowledge initiatives, as well as transaction projects for the World Bank in the areas of urban development, affordable housing and accessible housing finance.


Loic has worked in more than 35 emerging economies. Prior to joining the World Bank Group, he served as Director for Crédit Foncier in Central Europe and Advisor for Housing Finance Reforms to the Government of Poland.  Loic holds degrees from École Polytechnique, École Nationale des Ponts et Chaussées and the Institut des Sciences Politiques de Paris.



Victor Mints is a Housing Finance Specialist at World Bank Group Finance & Markets Global Practice. 


While in the WB Group, he mostly works  in low-income countries advising governments, central banks, financial institutions and educational centers in housing finance market development and in introduction and improvement of housing finance and housing microfinance lending products.  Before joining the WB Group, he served as a researcher, a banker, a construction site manager and as a consultant on housing and housing finance related projects. 


Victor holds a Master degree in civil engineering, an MBA, and a PhD in economics and management.


Angélica Nuñez is Senior Urban Specialist, GSURR, The World Bank Group. Angelica is in charge of several loan and advisory projects on housing policies, neighborhood improvement, natural disaster management and urban management policies in several Latin American countries and the rest of the world, including Mexico, Brazil, Bolivia, Colombia, Egypt , Vietnam and the Caribbean. In particular, she has focused her career in the housing and urban development sector with emphasis on policies that achieve the participation of the private sector and the sustainability of policies in the long term. Prior to her current position, Angelica collaborated with consulting firms in the United Kingdom on finance infrastructure projects and public-private partnerships in the provision of public services such as transport, renewable energy and education. Angelica is an economist with studies in Mexico and the United Kingdom.