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Why Diversity is Important to the Mortgage Lending Industry Speakers continued: 9:00 a.m. – 10:15 a.m. Annapolis Ballroom 1 & 2 Terri Fowlkes Director, Consumer Segment Management REL Strategic Markets Citi Jack PenaSoto Senior Vice-President Community Lending Business Leader Wachovia Mortgage, FSB
STACEY D. STEWART Chief Diversity Officer and Senior Vice President, Office of Community and Charitable Giving Stacey D. Stewart is Fannie Mae’s chief diversity officer, Office of Diversity and Inclusion, and senior vice president, Office of Community and Charitable Giving. Stewart leads Fannie Mae’s diversity and inclusion strategy and the overall corporate giving strategy and programs. As chief diversity officer, Office of Diversity and Inclusion, Stewart is responsible for development and implementation of strategies that foster a diverse and inclusive workplace and business environment. She serves as an advisor to the chief executive officer, Board of Directors, and senior leadership team to leverage diversity as a key business driver and foster an inclusive work environment. Additionally, she works with her team and key stakeholders to align and demonstrate Fannie Mae’s diversity and inclusion commitment externally with customers, partners, and suppliers. As senior vice president, Office of Community and Charitable Giving, Stewart addresses housing and homelessness issues in Washington, DC, works to improve education and schools across the city, addresses housing challenges nationwide through housing and community development initiatives, and advances efforts to prevent and end homelessness in America. Stewart designs and implements Fannie Mae’s philanthropic initiatives to advance the company’s business goals, objectives, and mission. Prior to joining Fannie Mae in February 2007, Stewart was president and chief executive officer of the Fannie Mae Foundation. In that role, she directed the largest foundation in the U.S. dedicated to affordable housing and community development and the largest foundation in the Washington, DC, metropolitan area with a 2006 budget of $61 million. From 1995 to 1999, Stewart was vice president, Housing and Community Development, for Fannie Mae’s Atlanta, GA, office, and public affairs director from 1992 to 1995. Stewart was a vice president for Pryor, McClendon, Counts & Co., Inc., Atlanta, GA, from 1990 to 1992. Before that, she was a senior associate with Merrill Lynch. Stewart has a master of business administration from the University of Michigan and a bachelor of arts in economics from Georgetown University. She is currently co-chair of the Board of the DC Education Compact, serves on the advisory committee of the National Mitigation Counseling Program, is Secretary of the District of Columbia College Access Program, and is on the Boards of Aidan Montessori, the Federal City Council, DC Chamber of Commerce, Greater Washington Board of Trade, Survivors Fund of the Community Foundation for the National Capital Region, Hands on Network’s Corporate Service Council, National Coalition for Black Civic Participation, and One Economy.
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Co-Event Sponsors Gold Sponsor Silv
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Fourth Annual Mortgage Lending Indu
Page 5 and 6: Monday, October 6, 2008 Fourth Annu
Page 7 and 8: TAB SPONSORS
Page 9 and 10: FAIR LENDING ADVISORY FOR LENDER SE
Page 11 and 12: ��
Page 13 and 14: HELP YOUR CLIENTS GET THE MORTGAGE
Page 15 and 16: HMDA Data Mining for CRA and Minori
Page 17 and 18: The Demographic Impact of the Subpr
Page 19 and 20: Index of Tables Table 1: Loan Type
Page 21 and 22: Purpose The purpose of this study i
Page 23 and 24: Subprime Rate Loans And The Current
Page 25 and 26: Subprime Rate Loans And The Current
Page 27 and 28: Summary Of Findings • The overall
Page 29 and 30: Highlights Of 2004-2006 Subprime Ra
Page 31 and 32: Highlights Of 2004-2006 Subprime Ra
Page 33 and 34: Distribution Analysis Of 2006 Subpr
Page 47 and 48: Conclusion About The Author maurice
Page 49 and 50: Successful Sales Tools for Loan Ori
Page 51 and 52: TAB WELCOME ADDRESS
Page 53 and 54: John A. Courson John A. Courson is
Page 55: Why Diversity is Important to the M
Page 59 and 60: Terri J. Fowlkes Terri J. Fowlkes i
Page 61 and 62: The First American Corporation Depl
Page 63 and 64: What is Supplier Diversity at First
Page 65 and 66: DIVERSITY Transformation Over Time!
Page 67 and 68: Developing a Winning Diversity Busi
Page 69 and 70: Know the Facts � Minority groups'
Page 71 and 72: Data Sources -- Building The Case R
Page 73 and 74: Example: Relevant Marketing Collate
Page 75 and 76: Diversity and Inclusion in Mortgage
Page 77 and 78: Our Commitment to Diversity and Inc
Page 83 and 84: Our Commitment has resulted in this
Page 85 and 86: Recruiting Diverse Talent - a Criti
Page 87 and 88: Finding Experienced Diverse Sales P
Page 89 and 90: Best Practices in Recruiting Divers
Page 91 and 92: Thank you John Browning Area Sales
Page 93 and 94: Confidential - Copyright © Citi 20
Page 95 and 96: • Mortgage Market Dislocation •
Page 97 and 98: 1. Dedicated / Focused / Diverse St
Page 99 and 100: • GSEs • MI Companies • Non-P
Page 101 and 102: • Access • R-HOME • Home Run
Page 103 and 104: TAB IMPACT OF HOUSING LEGISLATION
Page 105 and 106: 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
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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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