You’ve Got the Power FORECLOSURE PREVENTION WORKSHOP Las Vegas, Nevada February 18, 2008

1. You’ve Got the PowerFORECLOSURE PREVENTION WORKSHOPLas Vegas, Nevada February 18, 2008 Maintaining the Dream of Homeownership Confidential - Internal Distribution

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

3. 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 Confidential - Internal Distribution

4. 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 “______” Confidential - Internal Distribution

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

6. 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 Confidential - Internal Distribution

7. 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 Confidential - Internal Distribution

8. 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 Confidential - Internal Distribution

9. 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 Confidential - Internal Distribution

10. 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 Confidential - Internal Distribution

11. 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 Confidential - Internal Distribution

12. 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 Confidential - Internal Distribution

13. 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 Confidential - Internal Distribution

14. 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 Confidential - Internal Distribution

15. 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 Confidential - Internal Distribution

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