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David H. Stevens President & CEO August 22, 2013

David H. Stevens President & CEO August 22, 2013. A Picture Tells Our Story. Outlook for 2013 and 2014. S ource : MBA July 2013 Forecast. Estimated Originations 1990 to 2014: SF Market. S ource: MBA – Jul y 2013 Mortgage Finance Forecast. Recovery in Household Growth Has Just Begun . 5.

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David H. Stevens President & CEO August 22, 2013

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  1. David H. Stevens President & CEO August 22, 2013

  2. A Picture Tells Our Story

  3. Outlook for 2013 and 2014 Source: MBA July 2013 Forecast

  4. Estimated Originations 1990 to 2014: SF Market Source: MBA – July 2013 Mortgage Finance Forecast

  5. Recovery in Household Growth Has Just Begun 5

  6. Minorities Will Drive Household Growth Households Household Growth, 2010-20 Sources: JCHS 2010 Household Growth Projections and US Census Bureau, 2011 ACS

  7. Washington View: Role Oversized & Outdated 1ST Loss Position

  8. Has the Pendulum Swung too Far?

  9. 2011 HMDA Data Shows Net Exit From Business Source: FFIEC

  10. Market Growth: Not Universal Source: MBA MPMA

  11. Retail Apps per Underwriter per Month

  12. Broad Access to Credit • “The pendulum has swung too far the other way.” • ~Federal Reserve Chairman Bernanke, November 2012 • “The average FICO score for denied applications in 2012 was 733 and the average LTV for denied applications was 81%.” • ~Ellie Mae, January 2013 • “Credit is achingly tight.” • ~CFPB Director Richard Cordray, January 2013 • “…Let’s make it easier for qualified buyers to buy homes they can.  We should simplify overlapping regulations and cut red tape for responsible families who want to get a mortgage, but who keep getting rejected by banks.” • ~President Obama • Housing Policy Speech, August 2013

  13. Seat at the Table

  14. Options Being Discussed • Privatize and Recapitalize • Shareholder Path • Receivership and Liquidation • Hensarling • Shut Down and Replace • Corker-Warner • BPC • President Obama • MBA

  15. MBA’s Key Steps to GSE Reform

  16. Lead – Follow – Get Out Of The Way Let’s Choose To Lead

  17. Control Our Destiny • “The most powerful opposition to the House's ‘freer-market’ approach, according to [congressional sources], comes from the Mortgage Bankers Association.”

  18. Control Our Destiny

  19. QUESTIONS?

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