Dr. Anton Haidorfer currently works as an independent consultant and heads the Center for Housing Risk Research. Previously, he worked at Fannie Mae from 1997 to spring 2018. Dr. Haidorfer has more than 20 years of experience in financial modeling and analysis of geographic risk. His skills cover financial analysis, economic modeling and data programming.

Dr. Haidorfer’s core function at Fannie Mae was tracking how regional risk in the housing market contributes to home price changes. This process uses a proprietary system that he built from nothing based upon variables never previously tracked. It is still being used. This month-to-month modeling process requires: 1) organizing and cleaning databases which contained millions of records for 30 or more variables, 2) statistically analyzing the data using Excel, and SAS to pick up trends and patterns, and 3) writing up the results and presenting them to senior management. In addition, he simultaneously would complete special projects as needed such as the potential impact of the Tax Cut and Jobs Act of 2017 on house prices in 50 major housing markets. This analysis caused a revision in Fannie Mae’s 2018 home price forecast. He is a creative, independent thinker and has exceptional writing skills.

Dr. Haidorfer is actively engaged in research. He presented papers at two different national conferences in 2018. He has taught both economics and finance at the MBA level at Philadelphia University.

Extra Notes:
Education and Certifications
Ph.D. Economics/Finance, Temple University
B.A. Economics, Temple University

Profession Experience
Fannie Mae, 1997 – 2018
The Mortgage Bankers Association of America, 1996 – 1997
Federal Deposit Insurance Corporation, 1992 – 1996

Selected Recent Publications
“Do High State and Local Tax Rates Cause Outmigration of Middle-Age High-Income Citizen”, submitted to the AREUEA-ASSA January 2019 conference.

“Detecting Overheating Housing Markets and Turning Points, Ex Ante”, presented at the AREUEA’s national meeting in Washington, DC, June 2018.

“New Evidence on the Co-Integration of House Prices and Rents”, Coauthored with Hamilton Fout and Michael LaCour-Little, presented at the American Real Estate Society’s April 2018 Conference.


Peter J. Elmer, Ph.D.

Dr. Peter Elmer currently works as an independent consultant while teaching Advanced Business Statistics at Clarewood University. Dr. Elmer has more than 25 years of experience in the analysis of Federal policies and programs in the real estate, mortgage, banking, and other financial sectors. Previously, Dr. Elmer was a Director in PwC’s Business and Risk Analytics group as well as a Sr. Manager at Deloitte, where he managed a large engagement performing analytic work for Ginnie Mae and HUD. Prior to working at Deloitte, Dr. Elmer was engaged in research of mortgage and banking issues at the FDIC, the analysis and disposition of distressed single- and multi-family mortgages at the RTC, investor relations at Fannie Mae, and credit analysis at Freddie Mac. He has authored two dozen articles and has taught at 4 universities.

Education and Certifications

PhD Economics, Purdue University
MA Economics, University of Akron
BSLE, Labor Economics, University of Akron
Certified Mortgage Banker (CMB)

Professional Experience

Director, PricewaterhouseCoopers, 2014 to present
Deloitte & Touche, Senior Manager, 2001 to 2013
FSLIC/RTC/FDIC, Economist, 1988-2001

Selected Publications (two dozen available on request)

Think Twice Before Extending Tax Breaks for Mortgage Relief,” National Mortgage News, March 11, 2014.
Determinants of Multifamily Mortgage Default (with Wayne R. Archer, David M. Harrison, and David C. Ling, Real Estate Economics, Vol. 30, No. 3 (Fall), 2002: 445-473.
Risks Associated With Mega Financial Institutions” (with Steven A. Seelig), in Megamergers in a Global Economy, Benton E. Gup (ed.), Quorum Books, Westport CT, 2002: 171-185.