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Less than Half of 2007 Top Lenders Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Lender Countrywide Financial, CA Wells Fargo Home Mortgage, IA Washington Mutual, WA CitiMortgage Inc., MO Chase Home Finance, NJ Bank of America Mtg., NC Wachovia Corporation, NC Residential Capital Group, MN IndyMac, CA GMAC Residential. PA EMC Mortgage, TX New Century Financial Corp., CA American Home Mortgage Corp., NY SunTrust Mortgage Inc., VA HSBC Finance, IL Still Left in 2008 Volume $462.50 $397.64 $195.70 $183.48 $172.90 $167.90 $104.74 $102.50 $89.95 $74.60 $72.43 $59.80 $58.90 $56.45 $52.77 Share 15.5% 13.3% 6.6% 6.2% 5.8% 5.6% 3.5% 3.4% 3.0% 2.5% 2.4% 2.0% 2.0% 1.9% 1.8% Rank 16 17 18 19 20 21 22 23 24 26 26 27 28 29 30 Lender National City Mortgage Co., OH PHH Mortgage, NJ ABN AMRO Mortgage Group, MI Aurora Loan Services, CO GreenPoint Mortgage, CA WMC Mortgage Corp., CA Fremont General Corp., CA First Horizon Home Loans, TX First Magnus Financial, AZ MortgageIT, Inc., NY MortgageIT, Inc., NY First Franklin Financial, CA Option One Mortgage, CA Taylor, Bean, & Whitaker, FL US Bank Home Mortgage, MN Volume $43.12 $41.26 $38.31 $36.80 $36.40 $33.20 $32.30 $31.21 $30.07 $29.00 $29.00 $27.67 $27.35 $24.80 $22.29 Share 1.4% 1.4% 1.3% 1.2% 1.2% 1.1% 1.1% 1.0% 1.0% 1.0% 1.0% 0.9% 0.9% 0.8% 0.7% 12
Left Us with ‘Super 4’ Mortgage Market Players (As of June 30 – Dollars in Billions) Servicing Market Originations Market Rank Servicer 2Q08 Share 6M 2008 Share 1 Bank of America $2,097.1 18.6% $206.8 22.6% Countrywide Financial $1,485.3 $132.0 Bank of America Mtg. & Affiliates $540.8 $74.8 Home Loan Services (Merrill Lynch) $43.0 Wilshire Credit (Merrill Lynch) $28.0 2 JPMorgan Chase $1,515.5 13.5% $146.9 16.1% Chase Home Finance $829.1 $116.4 Washington Mutual $604.0 $30.5 EMC Mortgage (Bear Stearns) $82.4 3 Wells Fargo & Company $1,496.1 13.3% $133.7 14.6% 4 Citigroup $1,017.9 9.0% $110.7 12.1% CitiMortgage Inc. $816.8 $72.7 Wachovia Corporation $201.1 $37.9 Top Four Lenders $6,126.7 54.4% $598.1 65.4% Total Market $11,254 100.0% $915.0 Source: Inside Mortgage Finance, Copyright 2008 13
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Co-Event Sponsors Gold Sponsor Silv
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Fourth Annual Mortgage Lending Indu
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Monday, October 6, 2008 Fourth Annu
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TAB SPONSORS
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FAIR LENDING ADVISORY FOR LENDER SE
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��
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HELP YOUR CLIENTS GET THE MORTGAGE
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HMDA Data Mining for CRA and Minori
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The Demographic Impact of the Subpr
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Index of Tables Table 1: Loan Type
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Purpose The purpose of this study i
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Subprime Rate Loans And The Current
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Subprime Rate Loans And The Current
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Summary Of Findings • The overall
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Highlights Of 2004-2006 Subprime Ra
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Highlights Of 2004-2006 Subprime Ra
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Distribution Analysis Of 2006 Subpr
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Conclusion About The Author maurice
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Successful Sales Tools for Loan Ori
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TAB WELCOME ADDRESS
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John A. Courson John A. Courson is
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Why Diversity is Important to the M
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STACEY D. STEWART Chief Diversity O
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Terri J. Fowlkes Terri J. Fowlkes i
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The First American Corporation Depl
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What is Supplier Diversity at First
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DIVERSITY Transformation Over Time!
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Developing a Winning Diversity Busi
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Know the Facts � Minority groups'
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Data Sources -- Building The Case R
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Example: Relevant Marketing Collate
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Diversity and Inclusion in Mortgage
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Our Commitment to Diversity and Inc
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Our Commitment has resulted in this
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Recruiting Diverse Talent - a Criti
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Finding Experienced Diverse Sales P
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Best Practices in Recruiting Divers
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Thank you John Browning Area Sales
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Confidential - Copyright © Citi 20
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• Mortgage Market Dislocation •
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1. Dedicated / Focused / Diverse St
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• GSEs • MI Companies • Non-P
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• Access • R-HOME • Home Run
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TAB IMPACT OF HOUSING LEGISLATION
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Michael Taliefero Michael Taliefero
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Tim Doyle is a Vice President of In
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Housing and Economic Recovery Act o
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• Adds energy efficiency and hist
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Emergency Assistance for the Redeve
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Key Provisions for HFAs FHA Moderni
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Mission Improvement • Requires th
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Key Provisions for HFAs HOPE for Ho
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Mortgage Foreclosure Protections fo
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Key Provisions for HFAs Housing Tax
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SUMMARY OF H.R. 3221 - THE HOUSING
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terms, conditions as the Secretary
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H.R 3221 DIVISION A - TITLE II - FE
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H.R. 3221 DIVISION A - TITLE IV - H
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H.R. 3221 DIVISION A - TITLE V: S.A
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esidential mortgage loan originator
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H.R. 3221 -DIVISION B - TITLE II -
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exempt housing bonds that each stat
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Transfer of funds appropriated to c
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The Emergency Economic Stabilizatio
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October 2008 Treasury must issue pr
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October 2008 and other available pr
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October 2008 foreclosure mitigation
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October 2008 a bid regardless of an
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preferred stock held by the financi
Page 155 and 156: October 2008 Sec. 504. Income avera
Page 157 and 158: Licensing Standards: All state-lice
Page 159 and 160: Federal Banking Agencies/Federal Fi
Page 161 and 162: Increasing Transparency and Account
Page 163 and 164: Housing Legislation in a Broader Co
Page 165 and 166: Impact of Market Challenges • Liq
Page 167 and 168: Components of HERA • FHA Moderniz
Page 169 and 170: Wells Fargo’s Long-term Commitmen
Page 171 and 172: Other HERA Provisions Hope for Home
Page 173 and 174: Questions? Tom Goyda Wells Fargo Ho
Page 175 and 176: Sponsored by: Diversity Luncheon 11
Page 177 and 178: Market Psychology around Homeowners
Page 179 and 180: Mortgage Strategic Markets & Divers
Page 181 and 182: Share Foreclosures by Loan Type Pro
Page 183 and 184: Q2-2008 Prime ARM Foreclosure Start
Page 185 and 186: Foreclosures in “Sand” States A
Page 187 and 188: Foreclosures in “Sand” States S
Page 191 and 192: Change in Number of Owner- and Rent
Page 193 and 194: 77 76 75 74 73 72 71 98 Homeownersh
Page 195 and 196: Changing the Market Psychology arou
Page 197 and 198: The Truth about Foreclosures • Pe
Page 199 and 200: The Truth about Mortgage Securitiza
Page 201 and 202: What has the Credit Panic Done to t
Page 203 and 204: 80% 75% 70% 65% 60% 55% 50% 45% 40%
Page 205: Rank 1 2 3 4 5 6 7 8 9 10 11 12 13
Page 209 and 210: Are Declining Markets Underwriting
Page 211: Changing the Consumer Psychology Ar
Page 214 and 215: Perceptions p • During g an other
Page 216 and 217: 11,400,000 400 000 1,200,000 1,000,
Page 218 and 219: $250,000,000 $200,000,000 $150,000,
Page 220 and 221: Perceent 60.00 50.00 40.00 30.00 20
Page 222 and 223: 700,000 600,000 500,000 400,000 300
Page 224 and 225: Percent 50.00 45.00 40.00 35.00 30.
Page 226 and 227: 45.00% 40.00% 35.00% 30.00% 25.00%
Page 228 and 229: Reality 2004 2004-2007 2004 2007 20
Page 230 and 231: 40.00% 35.00% 30.00% 25.00% 20.00%
Page 232 and 233: Reality 2004 2004-2007, 2004 2007,
Page 234 and 235: • While many conservatives believ
Page 236 and 237: TAB TRENDS IN LOSS MITIGATION
Page 238 and 239: Patrick Carey Chief Executive Offic
Page 240 and 241: TAB NON PROFIT’S ROLE IN EARLY IN
Page 242 and 243: Larry L. Gilmore 5502 Willow Grove
Page 244 and 245: 2007….What Happened? � Lack of
Page 246 and 247: 2,500,000 2,000,000 1,500,000 1,000
Page 248 and 249: HOPE NOW Alliance Membership Counse
Page 250 and 251: Borrower Outreach Letters � Servi
Page 252 and 253: Date Cities State Servicers Borrowe
Page 254 and 255: HOPE Hotline...888-995-HOPE � Nat
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HOPE NOW Results � Since July 200
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Percent Increase in Loan Modificati
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TAB RESPONSIBLE SUSTAINABLE LENDING
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Ernest E. Baskette, Jr. Mr. Baskett
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Shelley Metz-Galloway Vice Presiden
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What is… “the art of influencin
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Wells Fargo Our Commitment is Past,
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Wells Fargo Sustaining the History
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Why Responsible Lending? Responsibl
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Thank you Shelley Metz-Galloway Vic
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What is Self-Help? • Self-Help is
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www.self-help.org 4 4
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Lease-Purchase Mortgage Product �
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Lease-Purchase Pilot Structure Loan
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Pilot in Peachtree Hills, Charlotte
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Peachtree Hills - Foreclosure Distr
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Homes are still in decent shape Exp
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Supportive Services • Homebuyer c
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4 th Annual Mortgage Lending Indust
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MLI Emerging Markets and Diversity
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A new, innovative, comprehensive an
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Tactics and Strategies to Preserve
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TAB BEST IN INDUSTRY DINNER
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FOR IMMEDIATE RELEASE Wednesday, Oc
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Fourth Annual Minority Lending Awar
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Affordable Housing, CRA & Strategic
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Affordable Housing, CRA & Strategic
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What is ACCESS? Standard First Mort
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Create a Competitive Edge • Secon
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Leverage MI to Create a Competitive
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ACCESS is Easy for You and Your Cus
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Questions: National Homebuyers Fund
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Town Hall Meeting: Consumer Protect
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Lori Jones Gibbs Lori Jones Gibbs i
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Stella Adams Stella Adams is the fo
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Maria Kong Maria Kong has been a dy
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Strategic Markets and Diversity Con
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