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Tactics and Strategies to Preserve Minority Homeownership 4:00 p.m. –5:00 p.m. Annapolis Ballroom 1 & 2 There are a variety of creative techniques that can be employed to preserve minority homeownership. Many of these techniques involve working with minority origination sources, mortgage servicers and perhaps foreclosures counselors to prevent foreclosure through short sales, lease purchase and shared equity arrangements. These same sources may also be able to help liquidate bank REO in the communities they represent. Alternative strategies to drive new home financing may involve working builder’s inventories. The panelists will discuss these and other strategies that can be used to stabilize minority homeownership. Moderator: Tim Sandos President National Association of Hispanic Real Estate Professionals Speakers: Gary E. Acosta President/Chief Executive Officer New Vista President Marc Cormier Realtor Remax Allegiance Craig Nickerson Lead Consultant/Project Director National Community Stabilization Trust
Tim Sandos Tim Sandos Before joining NAHREP as CEO, Tim Sandos was Vice President of Emerging Markets for Principal Residential <strong>Mortgage</strong>, Inc., where he is responsible for the organization’s Emerging Markets programs and initiatives throughout the country. Tim most recently served as State Vice President & Chief Operating Officer for QWEST Communications (formerly U S WEST) and its 3,200 Nebraska employees in the state of Nebraska. His responsibilities included managing the company’s operations, sales and marketing initiatives, and directing regulatory, legislative and community affairs for the organization. Before joining U S WEST as Director of Government Affairs in 1998, Tim served as Vice President of the Education Division for Telecommunications, Inc. Prior to this, he was Executive Assistant to Denver’s former mayor, Federico Peña, which culminated in his election to the Denver City Council in 1991. In 1996, he ran for Congress in Colorado’s 1st Congressional District. He attended the University of Colorado and the Kennedy School of Government at Harvard University. Tim has an extensive background in community service. While in Nebraska he served on the boards of the Greater Omaha Chamber of Commerce, United Way of the Midlands, the Joslyn Art Museum, The Nebraska State Chamber of Commerce, and the Omaha Performing Arts Society. He was also Chairman of the Board for the Boys and Girls Clubs of Omaha. In Denver Tim served as a trustee at University Hospital and the Denver Convention and Visitors Bureau. He was a member of the Board of Trustees for the Denver Health and Hospitals Authority, and the Carnegie Foundation Task Force on Adolescent Development. Sandos has received many awards for his work including recognition from such organizations as Mile High United Way, I Have A Dream Foundation, Downtown Denver Partnership, and the National Hispanic Chamber of Commerce. Tim’s national service is extensive as well. He served as Chair-elect of the Omaha Branch of the Federal Reserve Bank, and was a member of the National Academy of Sciences Board on Children and Families, advising the White House and Congress on issues related to the healthy development of children. In 2001, Tim was selected by Secretary of Defense Donald Rumsfeld to participate in the Joint Civilian Orientation <strong>Conference</strong> (JCOC), reviewing the U. S. military compliment and its five branches. He was a founding member of the National Hispanic Caucus of State Legislators.
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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
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October 2008 Sec. 504. Income avera
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Licensing Standards: All state-lice
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Federal Banking Agencies/Federal Fi
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Increasing Transparency and Account
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Housing Legislation in a Broader Co
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Impact of Market Challenges • Liq
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Components of HERA • FHA Moderniz
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Wells Fargo’s Long-term Commitmen
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Other HERA Provisions Hope for Home
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Questions? Tom Goyda Wells Fargo Ho
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Sponsored by: Diversity Luncheon 11
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Market Psychology around Homeowners
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Mortgage Strategic Markets & Divers
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Share Foreclosures by Loan Type Pro
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Q2-2008 Prime ARM Foreclosure Start
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Foreclosures in “Sand” States A
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Foreclosures in “Sand” States S
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Change in Number of Owner- and Rent
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77 76 75 74 73 72 71 98 Homeownersh
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Changing the Market Psychology arou
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The Truth about Foreclosures • Pe
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The Truth about Mortgage Securitiza
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What has the Credit Panic Done to t
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80% 75% 70% 65% 60% 55% 50% 45% 40%
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Rank 1 2 3 4 5 6 7 8 9 10 11 12 13
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Left Us with ‘Super 4’ Mortgage
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Are Declining Markets Underwriting
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Changing the Consumer Psychology Ar
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Perceptions p • During g an other
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11,400,000 400 000 1,200,000 1,000,
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$250,000,000 $200,000,000 $150,000,
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Perceent 60.00 50.00 40.00 30.00 20
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700,000 600,000 500,000 400,000 300
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Percent 50.00 45.00 40.00 35.00 30.
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45.00% 40.00% 35.00% 30.00% 25.00%
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Reality 2004 2004-2007 2004 2007 20
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40.00% 35.00% 30.00% 25.00% 20.00%
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Reality 2004 2004-2007, 2004 2007,
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• While many conservatives believ
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TAB TRENDS IN LOSS MITIGATION
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Patrick Carey Chief Executive Offic
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TAB NON PROFIT’S ROLE IN EARLY IN
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Larry L. Gilmore 5502 Willow Grove
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2007….What Happened? � Lack of
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2,500,000 2,000,000 1,500,000 1,000
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HOPE NOW Alliance Membership Counse
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Borrower Outreach Letters � Servi
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Date Cities State Servicers Borrowe
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HOPE Hotline...888-995-HOPE � Nat
Page 256 and 257: HOPE NOW Results � Since July 200
Page 258 and 259: Percent Increase in Loan Modificati
Page 260 and 261: TAB RESPONSIBLE SUSTAINABLE LENDING
Page 262 and 263: Ernest E. Baskette, Jr. Mr. Baskett
Page 264 and 265: Shelley Metz-Galloway Vice Presiden
Page 266 and 267: What is… “the art of influencin
Page 268 and 269: Wells Fargo Our Commitment is Past,
Page 270 and 271: Wells Fargo Sustaining the History
Page 272 and 273: Why Responsible Lending? Responsibl
Page 274 and 275: Thank you Shelley Metz-Galloway Vic
Page 276 and 277: What is Self-Help? • Self-Help is
Page 278 and 279: www.self-help.org 4 4
Page 280 and 281: Lease-Purchase Mortgage Product �
Page 282 and 283: Lease-Purchase Pilot Structure Loan
Page 284 and 285: Pilot in Peachtree Hills, Charlotte
Page 286 and 287: Peachtree Hills - Foreclosure Distr
Page 288 and 289: Homes are still in decent shape Exp
Page 290 and 291: Supportive Services • Homebuyer c
Page 292 and 293: 4 th Annual Mortgage Lending Indust
Page 294 and 295: MLI Emerging Markets and Diversity
Page 296 and 297: A new, innovative, comprehensive an
Page 308: TAB BEST IN INDUSTRY DINNER
Page 311 and 312: FOR IMMEDIATE RELEASE Wednesday, Oc
Page 313 and 314: Fourth Annual Minority Lending Awar
Page 315 and 316: Affordable Housing, CRA & Strategic
Page 317 and 318: Affordable Housing, CRA & Strategic
Page 319 and 320: What is ACCESS? Standard First Mort
Page 321 and 322: Create a Competitive Edge • Secon
Page 323 and 324: Leverage MI to Create a Competitive
Page 325 and 326: ACCESS is Easy for You and Your Cus
Page 327 and 328: Questions: National Homebuyers Fund
Page 329 and 330: Town Hall Meeting: Consumer Protect
Page 331 and 332: Lori Jones Gibbs Lori Jones Gibbs i
Page 333 and 334: Stella Adams Stella Adams is the fo
Page 335 and 336: Maria Kong Maria Kong has been a dy
Page 337: Strategic Markets and Diversity Con
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