Fannie Mae: Your Partner in Community Development

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Be the partner of anyone who cares about housing and communities. Tackle the toughest housing problems in America. Fannie Mae's Mission.

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Fannie Mae: Your Partner in Community Development

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1. Fannie Mae: Your Partner in Community Development Presented By Maria Day-Marshall Senior Business Manager Historically Black Colleges and Universities Conference “Leadership, Sustainability, and Succession Planning” Savannah, Georgia October 26–28, 2005

2. Fannie Mae’s Mission “At Fannie Mae, we are in the American Dream business. Our Mission is to tear down barriers, lower costs, and increase the opportunities for homeownership and affordable rental housing for all Americans. Because having a safe place to call home strengthens families, communities, and our nation as a whole.”

3. Fannie Mae is a Leader in the US Housing Finance Industry Created as the Federal National Mortgage Association (FNMA) by the United States Congress in 1938 to establish a secondary market facility and credit guarantor for residential mortgages In 1968, Fannie Mae became a privately owned and managed for- profit corporation listed on the New York Stock Exchange (FNM) By law, Fannie Mae can only deal in home mortgages, and our primary focus is on mortgages for low-and moderate-income families Largest non-bank financial services company in the world Manage over $1.5 trillion in mortgages Issue mortgage backed securities (MBS) Purchase loans and MBS to hold in portfolio At Fannie Mae, our business is our mission and our mission is our business. We increase the supply of affordable rental, and for- sale housing by investing debt, equity, and human capital. Through partnerships with lenders, developers, public entities, and a host of non-profits and others in the housing business, we revitalize communities across the nation. 1-  Fannie Mae’s core mission is to provide a reliable supply of low cost mortgage funds to all communities within the US, at all times. 2-  We operate in the secondary rather than the primary mortgage market. Fannie Mae purchases mortgage loans from mortgage lenders such as mortgage companies, savings institutions, credit unions, and commercial banks, thereby replenishing those institutions' supply of mortgage funds. Fannie Mae either packages these loans into Mortgage-Backed Securities (MBS), which it guarantees for full and timely payment of principal and interest, or purchases these loans for cash and retains the mortgages in its portfolio. By ensuring liquidity in the housing finance system, we help to lower the costs of mortgages and make homeownership more affordable for more families. At Fannie Mae, our business is our mission and our mission is our business. We increase the supply of affordable rental, and for- sale housing by investing debt, equity, and human capital. Through partnerships with lenders, developers, public entities, and a host of non-profits and others in the housing business, we revitalize communities across the nation. At Fannie Mae, our business is our mission and our mission is our business. We increase the supply of affordable rental, and for- sale housing by investing debt, equity, and human capital. Through partnerships with lenders, developers, public entities, and a host of non-profits and others in the housing business, we revitalize communities across the nation. 1-  Fannie Mae’s core mission is to provide a reliable supply of low cost mortgage funds to all communities within the US, at all times. 2-  We operate in the secondary rather than the primary mortgage market. Fannie Mae purchases mortgage loans from mortgage lenders such as mortgage companies, savings institutions, credit unions, and commercial banks, thereby replenishing those institutions' supply of mortgage funds. Fannie Mae either packages these loans into Mortgage-Backed Securities (MBS), which it guarantees for full and timely payment of principal and interest, or purchases these loans for cash and retains the mortgages in its portfolio. By ensuring liquidity in the housing finance system, we help to lower the costs of mortgages and make homeownership more affordable for more families. At Fannie Mae, our business is our mission and our mission is our business. We increase the supply of affordable rental, and for- sale housing by investing debt, equity, and human capital. Through partnerships with lenders, developers, public entities, and a host of non-profits and others in the housing business, we revitalize communities across the nation.

4. Fannie Mae is in Your Community

5. Solve the toughest local housing problems, community by community Demonstrate the impact of Fannie Mae to each community Understand and articulate local housing challenges Identify/facilitate/drive business Develop and test new ideas Build and maintain partnerships Leverage network partnerships and resources Support our community partners Be the eyes, ears and voice for Fannie Mae in local markets Tell the story – executing events Role of the Community Business Centers In order to accomplish these items our CBC staff use a variety of strategies/tactics: Fannie Mae’s eyes, ears, voice and presence in each community Relationship management with key partners Listen and crystallize the critical housing challenges in each community Identify and facilitate opportunities for business investment by Fannie Mae Laboratory for new ideas and for testing and execution of those ideas Connect components of the community necessary to solve housing Support our community partners Showcase tangible benefits of Fannie Mae’s mission In order to accomplish these items our CBC staff use a variety of strategies/tactics: Fannie Mae’s eyes, ears, voice and presence in each community Relationship management with key partners Listen and crystallize the critical housing challenges in each community Identify and facilitate opportunities for business investment by Fannie Mae Laboratory for new ideas and for testing and execution of those ideas Connect components of the community necessary to solve housing Support our community partners Showcase tangible benefits of Fannie Mae’s mission

6. Some of our Community Partners We work with a wide range of partners to help increase homeownership for more families in this country. We work with our partners to tackle America's toughest housing problems by developing solutions to housing barriers faced by underserved populations and communities that traditionally have not been well served by the mortgage industry. Our partners include: Lenders, Mortgage Insurers and Brokers, Non Profits, Real Estate professionals, Home Builders, HFAs, Govt. Partners. We work with a wide range of partners to help increase homeownership for more families in this country. We work with our partners to tackle America's toughest housing problems by developing solutions to housing barriers faced by underserved populations and communities that traditionally have not been well served by the mortgage industry. Our partners include: Lenders, Mortgage Insurers and Brokers, Non Profits, Real Estate professionals, Home Builders, HFAs, Govt. Partners. We work with a wide range of partners to help increase homeownership for more families in this country. We work with our partners to tackle America's toughest housing problems by developing solutions to housing barriers faced by underserved populations and communities that traditionally have not been well served by the mortgage industry. Our partners include: Lenders, Mortgage Insurers and Brokers, Non Profits, Real Estate professionals, Home Builders, HFAs, Govt. Partners. as you can see, we work with a wide range of non-profits and Community Based Organizations that many of are familiar with and may be members of. We work with a wide range of partners to help increase homeownership for more families in this country. We work with our partners to tackle America's toughest housing problems by developing solutions to housing barriers faced by underserved populations and communities that traditionally have not been well served by the mortgage industry. Our partners include: Lenders, Mortgage Insurers and Brokers, Non Profits, Real Estate professionals, Home Builders, HFAs, Govt. Partners. We work with a wide range of partners to help increase homeownership for more families in this country. We work with our partners to tackle America's toughest housing problems by developing solutions to housing barriers faced by underserved populations and communities that traditionally have not been well served by the mortgage industry. Our partners include: Lenders, Mortgage Insurers and Brokers, Non Profits, Real Estate professionals, Home Builders, HFAs, Govt. Partners. We work with a wide range of partners to help increase homeownership for more families in this country. We work with our partners to tackle America's toughest housing problems by developing solutions to housing barriers faced by underserved populations and communities that traditionally have not been well served by the mortgage industry. Our partners include: Lenders, Mortgage Insurers and Brokers, Non Profits, Real Estate professionals, Home Builders, HFAs, Govt. Partners. as you can see, we work with a wide range of non-profits and Community Based Organizations that many of are familiar with and may be members of.

7. American Dream Commitment 3.0 Expand Access to Homeownership Our American Dream Commitment goals initially fell under three broad objectives, with a recent fourth addition. Briefly, they are: Expand access to homeownership.or (Putting people into homes) Make homeownership and rental housing successful or (Keeping people in their homes) Increase the supply of affordable housing or (Expanding the supply of housing where needed most) Transform 50 targeted communities To achieve these objectives by our 2014 deadline, we involved resources from across the company. The work that many of you will be doing will directly impact the goals of ADC 3.0 There are senior management goal owners and cross-functional teams that support them. Through this seamless approach, we—and our partners—are tackling the toughest housing challenges that face our nation. Our American Dream Commitment goals initially fell under three broad objectives, with a recent fourth addition. Briefly, they are: Expand access to homeownership.or (Putting people into homes) Make homeownership and rental housing successful or (Keeping people in their homes) Increase the supply of affordable housing or (Expanding the supply of housing where needed most) Transform 50 targeted communities To achieve these objectives by our 2014 deadline, we involved resources from across the company. The work that many of you will be doing will directly impact the goals of ADC 3.0 There are senior management goal owners and cross-functional teams that support them. Through this seamless approach, we—and our partners—are tackling the toughest housing challenges that face our nation.

8. Why We Are Here To share information on Fannie Mae’s role in community development and how Fannie Mae can work with Historically Black Colleges and Universities to assist communities in providing affordable for-sale and rental housing to low- and moderate- income families. To develop partnerships with Historically Black Colleges and Universities to assist in revitalizing their communities.

9. Howard University LeDroit Park Initiative, Washington, DC LeDroit Park is now one of the economic pace-setters for the District of Columbia. Moreover, the Howard University Initiative was a definitive demonstration of how inner city urban communities can not only survive; but with thoughtful leadership and careful execution, can be reborn and thrive in the new millenium. LeDroit Park is now one of the economic pace-setters for the District of Columbia. Moreover, the Howard University Initiative was a definitive demonstration of how inner city urban communities can not only survive; but with thoughtful leadership and careful execution, can be reborn and thrive in the new millenium.

10. LeDroit Park was developed in 1873 and was one of the District of Columbia’s first suburban residential communities. Initially an all white community with a fence separating it from Howard University, it became predominately African American by the end of World War I, but maintained its middle-class character and became home to many famous African Americans, including poet Paul Lawrence Dunbar, Congressman Oscar Depriest, educator Mary Church Terrell and jazz great, Duke Ellington. Beginning in the early sixties, the neighborhood endured decades of blight, inadequate government service, a deteriorated infrastructure, drugs, crime and overall decline. The result was a general dis-investment by the community, local government and Howard University. LeDroit Park was developed in 1873 and was one of the District of Columbia’s first suburban residential communities. Initially an all white community with a fence separating it from Howard University, it became predominately African American by the end of World War I, but maintained its middle-class character and became home to many famous African Americans, including poet Paul Lawrence Dunbar, Congressman Oscar Depriest, educator Mary Church Terrell and jazz great, Duke Ellington. Beginning in the early sixties, the neighborhood endured decades of blight, inadequate government service, a deteriorated infrastructure, drugs, crime and overall decline. The result was a general dis-investment by the community, local government and Howard University.

11. Howard University President Swygert expressed his hopes that the urban revitalization efforts serve as a national role model: "Today we celebrate a major victory, the elimination of blight in this community, and the arrival of 40 new families to our neighborhood. The many partners involved in this initiative have committed the resources, time, and talent to make sure that our beautiful community continues to be a strong presence in this great city." Representative Norton noted that Howard University and Fannie Mae make great partners: "Once again, Fannie Mae is there. Ward after ward, they're everywhere!" Congratulations Fannie Mae. Howard University President Swygert expressed his hopes that the urban revitalization efforts serve as a national role model: "Today we celebrate a major victory, the elimination of blight in this community, and the arrival of 40 new families to our neighborhood. The many partners involved in this initiative have committed the resources, time, and talent to make sure that our beautiful community continues to be a strong presence in this great city." Representative Norton noted that Howard University and Fannie Mae make great partners: "Once again, Fannie Mae is there. Ward after ward, they're everywhere!" Congratulations Fannie Mae.

19. Fannie Mae and HBCU’s in Partnership Fannie Mae can:      Provide a line of credit to colleges and universities to expand their housing program in their immediate neighborhood. Work with DUS lenders financing multifamily development to provide construction financing. Help the colleges and universities develop an Employer Assisted Housing (EAH) program for faculty members and staff to encourage them to purchase homes in the neighborhoods adjoining the college. Provide financing to the Housing Authority in the community to modernize its housing stock. Provide financing to the Housing Authority for Hope IV development through partnership with lenders for construction and mortgage financing Partner with the cities and mortgage lenders to expand mortgage products for homebuyers in the neighborhood. Provide technical, industry and market resources to assist a mobilized group of community partners to prepare and implement a master community redevelopment plan.

20. Advantages to Doing Business With Fannie Mae In the Market Every Business Day In Every Market in the Country Breadth/Variety of Innovative Products Dependability, Integrity, and Liquidity Competitive Pricing Unmatched Commitment to Preserving Affordable Housing

21. For More Information on Fannie Mae Visit us online to locate your Community Business Center www.fanniemae.com For specific questions contact Maria Day-Marshall at [email protected] (202) 752-3916

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