How will the Pandemic Impact Real Estate in Canada’s Urban Centres?
Key discussion points:
1. What is the future of urbanization? How should policy react?
2. Will the increase in remote work last, and how will it impact commercial and residential real estate in large Canadian cities?
3. Could CMHC’s recent use-of-funds restriction on multi-unit properties have an effect on the funding of new developments in Canadian cities?
Romy Bowers, Senior Vice-President, Client Solutions, Canada Mortgage and Housing Corporation
Romy Bowers is Senior Vice President, Client Solutions of the Canada Mortgage and Housing Corporation (CMHC). She is responsible for leading a team of professionals dedicated to solving the housing affordability challenges of Canadians. Ms. Bowers is the principal point of contact for CMHC‘s diverse client base which includes financial institutions, housing developers, industry associations, non-profit housing organizations as well as housing agencies across all level of government. Ms. Bowers is dedicated to transforming CMHC into a client-focused organization dedicated to meeting the housing needs of Canadians.
Previously, Ms. Bowers was the Chief Commercial Officer of CMHC responsible for leading the corporation’s securitization and mortgage loan insurance businesses. Ms. Bowers joined CMHC in 2015 as Chief Risk Officer, bringing to the organization over 15 years of experience in the financial services industry. Prior to joining CMHC, Ms. Bowers worked at a large Canadian bank where she held various finance and risk management related positions in the areas of corporate funding, capital management, stress testing and operational risk management.
Ms. Bowers holds a Masters of Arts from McGill University and a Masters of Business Administration (Finance) from the University of Toronto. She is a recent graduate of the Advancement Management Program at Harvard Business School. She lives in Toronto with her husband.
Jeremy Wedgbury, Senior Vice President, Commercial Mortgages, First National Financial LP
Jeremy Wedgbury is Senior Vice President, Commercial Mortgages at First National. He is responsible for managing the mortgage origination team nationally and oversees the credit adjudication of First National’s broad product portfolio.
Prior to joining First National, Jeremy spent 14 years working with other leading commercial mortgage lenders including Manulife Financial and Merrill Lynch Financial. He has been leading First National’s origination team for the past 15 years. From 2004 to 2015, Jeremy helped the First National mortgage origination team to achieve nearly 300 per cent growth, expanding the team to include more than 30 mortgage professionals. In 2015 alone, First National’s commercial team originated $6.2 billion in commercial loans, bringing mortgages under administration to $27 billion and making First National the largest commercial lender in Canada.
Jeremy holds a Bachelor of Arts degree from Wilfrid Laurier University and an Urban Land Economics Diploma (Real Estate) from the University of British Columbia. He is the Past President of the Greater Toronto Chapter of NAIOP and is a sought-after speaker for industry events.