1. 0 Michael Drayne SVP Issuer & Portfolio Management NCSHA Annual Conference January 15, 2015 Ginnie Mae: General and HFA Overview

2. 1 Ginnie Mae: Overall Strategic Focus Two continuing primary areas of focus for Ginnie Mae over the next 1-2 years: Continuing the Securitization Platform Modernization program, which touches on many of the systems used by issuers Adapting to the rapidly evolving residential financing landscape, in which non- bank entities have become increasingly prominent

3. 2 HFA Issuers by Portfolio Size Issuer NameLoans UPB ALABAMA HOUSING FINANCE AUTHORITY16,094$1,851,475,193 IDAHO HOUSING AND FINANCE ASSOCIATION12,785$1,556,629,107 COLORADO HOUSING AND FINANCE AUTHORITY9,542$1,324,928,723 UTAH HOUSING CORPORATION6,799$1,010,866,897 VIRGINIA HOUSING DEVELOPMENT AUTHORITY6,377$881,013,537 PENNSYLVANIA HOUSING FINANCE AUTHORITY7,766$861,207,475 KENTUCKY HOUSING CORP.7,533$667,123,145 NEW HAMSPHIRE HOUSING FINANCE1,260$192,679,888 RHODE ISLAND HOUSING AND MORTGAGE1,054$157,020,267 NORTH DAKOTA HOUSING FINANCE AUTHORITY1,024$129,262,702 WISCONSIN HOUSING AND ECONOMIC122$12,674,826 NEW MEXICO MORTGAGE FINANCE AUTHORITY22$781,811 TOTAL70,378$8,645,663,571

4. 3 HFA New Originations - Ginnie I & II HFA New Originations by Mortgage Rate OPB (Millions) Loans

5. 4 HFA Portfolio Growth HFA Portfolio Growth by Agency UPB (Millions)

6. 5 HFA New Originations HFA New Originations by Agency OPB (Millions)

7. 6 Ginnie Mae Single-Family Issuance by Govt. Agency Share Note: HUD Indian Housing loans are also securitized by Ginnie Mae; they represent less than 1% of monthly issuance Source: Ginnie Mae

8. 7 FHLB-Chicago Partnership Community banks, credit unions, and other small banks will be able to access the Ginnie Mae system more easily through the FHLB Chicago (FHLBC) Conduit The FHLBC Conduit will allow approved smaller institutions to sell loans to the FHLBC, which will aggregate them and issue Ginnie Mae MBS Participating small lenders will obtain better pricing for loans through the FHLBC Conduit than through the sale of whole loans Aggregators often require the sale of a loan’s servicing as well, but only pay a fraction of its market value – smaller lenders will gain more pricing leverage through the Conduit The FHLBC Conduit will help smaller lenders maintain and develop customer relationships since the Conduit includes the option to retain servicing