1. Attorneys General Mortgage Servicer Consent Order March 13, 2012

2. SERVICERS Five largest servicers: – Ally/GMAC – Bank of America (and Countrywide) – Citi – JP Morgan Chase (and WaMu) and – Wells Fargo (and Wachovia) These banks service more than 60% of mortgage loans

3. Relief Under Consent Order Injunctive relief, including 42 pages of servicing standards. $25 billion nationwide in monetary relief, including: – Payments for civil penalties and housing assistance. – Various programs for assistance for homeowners and people who lost their homes to foreclosure.

4. Financial Relief for Borrowers Three buckets of relief: – Restitution to people who lost their homes through foreclosure; – Refinance program for borrowers who are current but underwater; and – Principal reduction for borrowers who are in default and other forms of relief.

5. Relief for Marylanders More than $900 million in projected benefits for Marylanders – Estimated $24 million in restitution to borrowers who lost their homes – Estimated $64 million in benefit to borrowers through refinancing – Estimated more than $800 million in benefits through National Consumer Relief Program, including principal reduction.

6. Restitution to borrowers who lost their homes to foreclosure Estimated $24 million to Marylanders – Borrowers Whose loans were serviced by one of the 5 servicers Who lost their homes through foreclosure between January 1, 2008 and December 31, 2011; Who meet certain criteria; and Who return claims forms showing they are entitled to relief under the Consent Order.

7. Restitution Process Claims administrator will send claims forms Borrower must return the claims form Claims forms will be reviewed to determine eligibility Payments will be sent – estimated to be between $1,000 and $2,000.

8. Refinancing for borrowers who are current but underwater Estimated $64 million in benefit to Marylanders The loan must – be owned (not just serviced) by the bank – have a current rate at 5.25% or above. – be current with no delinquencies in the past 12 months – be a fixed rate loan, or an adjustable rate or interest only loan with an initial period of 5 years or more – have a current LTV greater than 100% – have been originated prior to January 1, 2009 – not have been modified in the past 24 months – have an unpaid principal balance at or below GSE conforming loan limit cap as of January 1, 2010 The loan cannot be – FHA/VA – for manufactured housing – for a borrower who has been in bankruptcy within the last 24 months – for a borrower who has been in foreclosure within the last 24 months

9. Restitution for current, underwater loans continued Servicers are required to solicit borrowers who qualify for the refinance program. However, if you have a borrower who meets the criteria, we encourage you to contact the bank about refinancing the borrowers mortgage.

10. Consumer Relief Menu Estimated $800 million in benefit to Maryland borrowers Servicers are required to establish programs to help borrowers. Each servicer is required to provide a specified amount of benefit to borrowers.

11. Principal Reduction 60% of menu credits -- principal reduction of mortgages on occupied properties. Loan must be 30 days delinquent or otherwise be at imminent risk of default due to borrowers financial situation. LTV greater than 100%. Loan may not be owned by GSE. Loan must meet other criteria for program.

12. Other Benefits Other forms of assistance include: Facilitating short sales; Providing transitional funds; Providing forbearance for unemployed; and Providing deficiency waivers.

13. Implementation Servicers will be notifying qualified borrowers. However, borrowers who may qualify should reach out to servicers.

14. Bank Contacts Ally/GMAC: 1-800-766-4622 Bank of America (And Countrywide): 1-877- 488-7814 Citi: 1-866-272-4749 JPMorgan Chase (And WaMu): 1-866-372- 6901 Wells Fargo (And Wachovia) : 1-800-288-3212

15. Servicing Standards for Owner- Occupied Properties Standards for Documents Used in Foreclosure and Bankruptcy Proceedings. Standards for systems and personnel. Requirements to ensure accurate account information. Oversight of third-party providers.

16. Servicing standards continued Loss Mitigation Requirements Dual Track Restricted Single Point of Contact Loss Mitigation Communications with Borrowers Development of Loan Portals Loan Modification Timelines Independent Evaluation of First Lien Loan Modification Denials

17. Servicing standards continued Protections for military personnel Restrictions on servicing fees Force-placed insurance requirements Honor tenants rights