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Former Fed Governor and Professor Emeritus
Sherman J. Maisel, Federal Reserve governor and Haas School
professor emeritus, died from respiratory failure Sept. 29 in
San Francisco. He was 92. Maisel was known for his role in
developing the modern residential mortgage market and Federal
Reserve policy procedures.
In 1948, Maisel joined the faculty of UC Berkeley’s School of
Business (now the Haas School of Business), where he helped found
the Center for Real Estate and Urban Economics—one of the first
in its field in the country. He took leave from UC Berkeley in 1965,
when President Lyndon Johnson appointed him to the Federal
Reserve Bank Board of Governors. He returned to the business
school in 1972 and retired in 1986, when he was awarded the
Berkeley Citation for distinguished achievement.
Maisel’s path-breaking research on monetary policy, housing, the
mortgage market, and economic forecasting has been published in
14 books and more than 100 academic articles.
“His many papers on monetary policy and housing markets formed
the foundation of current housing finance research,” said Kenneth
Rosen, chairman of the Fisher Center for Real Estate and Urban
Economics, who was hired by Maisel to build up the center in 1979.
“His textbook Real Estate Finance was used by a generation of real
estate finance students around the country.”
While at the Fed, Maisel was appointed to a White House task
force to recommend changes in federal mortgage policies. This task
force drafted proposals to allow the Government National Mortgage
Association (Ginnie Mae) to guarantee securities backed by pools of
mortgages and to allow the Federal National Mortgage Association
(Fannie Mae) become a government-sponsored agency, removed
from the constraints of the federal budget. These steps led to the
creation of the modern national market for mortgages.
Maisel also served on the Berkeley Unified School District Board
of Education from 1962 to 1965.
To view a video conversation between Ken Rosen and Sherman Maisel, visit haas.berkeley.edu/news/maisel.html.
Former UC Regent, Haas Adjunct Professor William Coblentz
Attorney William Coblentz, BA 43 (Econ.), a former UC regent and Haas adjunct professor, died Sept. 13 at his San Francisco home. He was 88.
A senior partner with Coblentz, Patch, Duffy & Bass, Coblentz focused his legal practice on real estate and complex business transactions. He was an adjunct professor at Haas from 1994 to 2000, teaching an MBA elective called Business and the Media with Professor David Vogel.
“Bill enriched the students’ learning experience both by drawing
on his extensive personal experiences dealing with the media,
and by using his personal contacts to invite several distinguished
speakers from the media and business to present guest lectures,”
Coblentz served as a UC regent from 1964 to 1980. In 1980, he received the Berkeley Citation, the university’s highest honor. Coblentz served on the boards of the Koret Foundation and the NAACP Legal Defense and Education Fund. He also served as a consultant to the U.S. secretary of state and as special counsel to California Gov. Edmund G. “Pat” Brown.