1. Larry Hogan Governor Boyd Rutherford Lt. Governor Kenneth C. Holt Secretary Maryland Mortgage Program Triple Play in Prince George’s County

2. 2 Foreclosures in Maryland Maryland has 23 counties and one subdivision-- Baltimore City Maryland was hit hard by foreclosures o Ranked in the top five percent in U.S. foreclosures Prince George’s County was the hardest hit in the state o From 2008 to the end of 2012, 30 percent or more of the foreclosures in Maryland were in Prince George’s County 2

3. 3 Prince George’s County – Percentage of State Foreclosures 3

4. 4 Created in collaboration between Maryland Department of Housing and Community Development, Maryland Attorney General, and Prince George’s County Government County provided $6M from their allocation of the State Attorney General’s Mortgage Servicing Settlement Triple Play was developed to expedite the distribution of the settlement funds MMP Triple Play: Process 4

5. 5 Used existing lender processes Lenders closed and fronted the loan; DHCD reimbursed after closing DHCD was then reimbursed from the Attorney General’s Settlement by invoice County identified 14 zip codes as priorities based on foreclosure activities Uniform set of rules regarding the Down Payment Assistance (DPA) and the grant MMP Triple Play: Process 5

6. 6 Up to $10,000 in DPA in a zero percent deferred loan available to all Triple Play homebuyers throughout Prince George’s County PLUS an additional $10,000 GRANT for homebuyers purchasing in one of the 14 select zip codes PLAY #1: DOWN PAYMENT & CLOSING COST ASSISTANCE! MMP Triple Play 6

7. 7 Interest rate a quarter of a percent below regular MMP rates PLAY #2: REDUCED RATE! MMP Triple Play 7

8. 8 Maryland DHCD waived the fee for a mortgage credit certificate purchased along with a Triple Play loan (lenders could still charge their fee) PLAY #3: WAIVED FEE FOR A MARYLAND HOMECREDIT! MMP Triple Play 8

9. 9 Minimal Marketing Cost Announced at a press event with the county Marketing 9

10. 10 Utilized our lender network and worked closely with the Prince George’s County Association of Realtors, including offering special Continuing Education (CEU) classes for realtors Marketing 10

11. 11 Reached out to Hispanic advocates Primarily used website and e-blasts to reach lenders and realtors Significant outreach and literature drops to libraries and large church congregations Community Outreach 11

12. 12 Homebuyers using the MMP Triple Play could purchase any eligible property in Prince George’s County. To qualify for the $10,000 grant, the property had to be in a select zip code (shown in red) MMP Triple Play Washington, DC border 12

13. 13 14 Select Zip Codes: 20706 - Lanham 20710 - Bladensburg 20722 - Brentwood 20737 - Riverdale 20743 - Capitol Heights 20744 - Fort Washington 20745 - Oxon Hill 20746 - Suitland 20747 - District Heights 20748 - Temple Hills 20772 & 20774 - Upper Marlboro 20784 & 20785 - Cheverly ELIGIBILITY FOR THE $10,000 GRANT MMP Triple Play Extra funding provided to certain zip codes – easily tracked! 13

14. 14 Benefit to the County 28 percent of those who used the program came from outside the county Average move was 11 miles from where they lived to where they purchased 395 new homeowners - average purchase price of $224,235 62 percent of the loans were in the zip codes qualifying for extra funding 14

15. 15 Benefit to the Department 42 lenders participated – 10 percent increase Program opened on November 20 and closed on April 8 – less than 5 months 100 percent increase in the average activity over the past 5 years $84M in closed mortgage activity Average loan amount of $213,815 Due to cut in interest rate we realized a 35 percent reduction in margin 15

16. 16 Reservations 16

17. 17 Reservation Activity Comparison 17

18. 18 Previous State Previous County Current County Triple Play Loans CALos AngelesPrince George's1 DCWashingtonPrince George's41 VAAlexandriaPrince George's23 MDAnne ArundelPrince George's6 MDBaltimore CountyPrince George's7 MDCalvertPrince George's1 MDCharlesPrince George's6 MDHowardPrince George's1 MDMontgomeryPrince George's23 MDPrince George's 286 Total395 PG%72.4% Other%27.6% Prior Residences 18

19. 19 Geographic Benefit to Prince George’s County Previous Counts Current Counts (11/20/14 to 04/08/15) Triple Play Map Number of Addresses MMP Triple Play Zip Codes 19

20. 20 The 35 percent decrease in gross margin was made up by a 100 percent increase in total volume Business we would have not received Volume has remained steady at 21 percent As the $6M limit was reached, the grant portion of Triple Play was closed and Double Play was instituted Sixteen loans outstripped the County funds; DHCD used their own funds for deferred DPA loans Income to the Department 20

21. 21 $1M in Baltimore City Funds o Creating a $2,500 DPA Grant $2M in State “Rainy Day” Funds o Creating a $5,000 DPA Grant Reduction in rate by.25 percent MCC fee waived Next Up – Maryland Grand Slam 21

22. 22 For Prince George’s County –Efficient and effective process to quickly disseminate funds –Focused for highest benefit to hard hit communities –Attracted new residents –Helped stabilize affected areas For Maryland DHCD –Increased income –Increased number of approved lenders –Relieved pressure on limited DPA funds –Increased number of participating realtors Win-Win 22

23. 23 For additional information, please contact: Maryland Department of Housing and Community Development Kenneth C. Holt, Secretary of Maryland DHCD Tiffany P. Robinson, Assistant Secretary, Director of CDA Cecilia Weller Business Development Manager 301-429-7798 Amy Grutzner Director of Single Family Housing 301-429-7763 23