1. Confidential - Internal Distribution You’ve Got the Power FORECLOSURE PREVENTION WORKSHOP Las Vegas, Nevada February 18, 2008 Maintaining the Dream of Homeownership

2. Confidential - Internal Distribution Introductions Fannie Mae’s participants: Jason Allnutt, Vice President Bob Hamilton, Manager Single Family Business Lester Handy, Sr. Risk Manager

3. Confidential - Internal Distribution Who is Fannie Mae? Fannie Mae is a shareholder-owned company with a public mission. We exist to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Our mission not only involves the dream of homeownership, but maintaining that dream as well We partner with our Lenders who service your loans during loss mitigation

4. Confidential - Internal Distribution Home – What does it mean to you? “______ is where the heart is” “A house is not a ____ when....” “When I think of _____I think of a place, where there’s love overflowing….” “There’s no place like “______”

5. Confidential - Internal Distribution Unforeseen events interrupt dream Unemployment Disability Divorce Death in family Disaster (hurricanes, tornadoes, floods, fire damage)

6. Confidential - Internal Distribution What are some tools you can use? Many homeowners aren’t sure of the opportunities available Some file bankruptcy believing that is the only option Some even are referred to an attorney by the Lender to begin a foreclosure action Is it too late to save your home when this happens? - NO

7. Confidential - Internal Distribution Short Term Solutions Repayment Plan - a great option Your Lender may be able set up a plan that will get you back on track in 3-6 months Verbal agreement with your Lender During the Repayment Plan period you will start make one full monthly mortgage payment, plus a portion of the past due payments until you become current

8. Confidential - Internal Distribution Long Term Solutions Loan modification is another alternative Modify the terms of your original mortgage in different ways Extend the maturity date (up to 40 years) Capitalize the past due payments (sometimes called a recast) In some very rare instances based on hardship, reduce the interest rate for a period of time

9. Confidential - Internal Distribution Long Term Solutions (con’t) Loan modification is a written agreement between you and your Lender Sometimes a fee is assessed to cover the costs/expenses to process a modification Once a modification is processed, you begin making new principal and interest payments based on the modified terms Credit history will still reflect the prior delinquency, however it will also reflect the modification and your efforts to bring your account current

10. Confidential - Internal Distribution If retaining your home is not an option (PreSale) If retaining your home is not an option, protecting your credit is important. A Pre-Sale is when your Lender works with you as you attempt to sell your home through a realtor What if my house has decreased in value? Your Lender can work with you to accept an amount lower than the total debt if the true market value has declined You may be asked to sign Promissory Note to pay that difference Each individual situation is evaluated to determine whether a promissory note is necessary

11. Confidential - Internal Distribution If retaining your home is not an option (Deed in Lieu ) If you have a hardship and are unable to sell your home, a Deed in Lieu (DIL) may be an option A DIL means you sign title over to your lender and vacate the property You must have no junior liens to qualify for this option

12. Confidential - Internal Distribution What if I am already in Foreclosure It is not too late Pick up the phone and call your Lender hotline You may still be able to avail yourself of one of the options described Partner with your Lender and most likely you can work something out

13. Confidential - Internal Distribution What if I have filed bankruptcy already, or filed in the past? Contact your Attorney or the Bankruptcy Trustee and let them know you want to work something out with your Lender Call your Lender’s hotline - they will speak to you about options even when you are in bankruptcy You may be able to have your bankruptcy case dismissed and pursue another option

14. Confidential - Internal Distribution YOU are the one who can make a difference Lenders have staff who want to help Departments staffed with caring, experienced employees ready to assist Referred to as “Loan Resolution Department, Loss Mitigation Department, Workout Department, Homeownership Retention Department” They can’t assist without the YOU, the homeowner

15. Confidential - Internal Distribution Empower yourself Pick up the phone and call your Lender’s hotline Go to their website and see if they have information or e-mail addresses to contact The most important thing you can do is reach out to your Lender and let them know your intentions

16. Confidential - Internal Distribution Nothing is Worse than doing Nothing! Thank you for coming today!