Fannie Mae:Fannie Mae:Your Partner in Community Your Partner in Community

DevelopmentDevelopmentPresented ByPresented By

Maria Day-MarshallMaria Day-MarshallSenior Business ManagerSenior Business Manager

Historically Black Colleges and Universities ConferenceHistorically Black Colleges and Universities Conference““Leadership, Sustainability, and Succession Planning” Leadership, Sustainability, and Succession Planning”

Savannah, Georgia Savannah, Georgia October 26–28, 2005October 26–28, 2005

Be the partner of anyone Be the partner of anyone who cares about housing who cares about housing

and communitiesand communities

Tackle the toughest Tackle the toughest housing problems in housing problems in

AmericaAmerica

Fannie Mae’s MissionFannie Mae’s Mission

““At Fannie Mae, we are in the American Dream business. Our At Fannie Mae, we are in the American Dream business. Our Mission is to tear down barriers, lower costs, and increase the Mission is to tear down barriers, lower costs, and increase the opportunities for homeownership and affordable rental housing opportunities for homeownership and affordable rental housing for all Americans. Because having a safe place to call home for all Americans. Because having a safe place to call home strengthens families, communities, and our nation as a whole.”strengthens families, communities, and our nation as a whole.”

Fannie Mae is a Leader in the US Fannie Mae is a Leader in the US Housing Finance IndustryHousing Finance Industry

Created as the Federal National Mortgage Association (FNMA) by the United States Congress in 1938 to establish a secondary market facility and credit guarantor for residential mortgages

In 1968, Fannie Mae became a privately owned and managed for- profit corporation listed on the New York Stock Exchange (FNM)

By law, Fannie Mae can only deal in home mortgages, and our primary focus is on mortgages for low-and moderate-income families

Largest non-bank financial services company in the world

Manage over $1.5 trillion in mortgages

– Issue mortgage backed securities (MBS)

– Purchase loans and MBS to hold in portfolio

55 Community Business 55 Community Business CentersCenters

Three Regional Offices

Fifty-five Community Business Centers

Fannie Mae Community Business Centers are working in communities across the country with our partners—lenders, nonprofits, real estate professionals, state and local housing finance agencies, and others—to revitalize communities and increase the supply of affordable rental and for-sale housing.

Fannie Mae is in Your CommunityFannie Mae is in Your Community

Solve the toughest local housing problems, communityby community

Demonstrate the impact of Fannie Mae to each community

Understand and articulate local housing challenges

Identify/facilitate/drive business

Develop and test new ideas

Build and maintain partnerships

Leverage network partnerships and resources

Support our community partners

Be the eyes, ears and voice for Fannie Mae in local markets

Tell the story – executing events

Role of the Community Business Role of the Community Business CentersCenters

Some of our Community PartnersSome of our Community Partners

• ACORN• AFL-CIO• American League of Financial Institutions (ALFI)• Asian, Inc.• Black Chamber of Commerce • Congressional Black Caucus (CBC)•Congressional Hispanic Caucus (CHC)• Congress of National Black Churches (CNBC)• Enterprise Foundation• Hispanic Congressional Caucus (HCC)• League of United Latin American Citizens (LULAC) • Local Initiatives Support Corporation (LISC)• NAACP• National Association of Hispanic Real Estate Professionals (NAHREP)

• National Association of Housing and Redevelopment Officials (NAHRO)

• National Association of Local Housing Finance Agencies (NALHFA)

• National Bankers Assocation (NBA)

• National Community Capital Corporation (NCCC)

• National Council of La Raza (NCLR)

• National Council of State Housing Agencies (NCSHA)

• Neighborhood Reinvestment Corporation/ National Housing Services (NRC/ NHS)

• National Urban League (NUL)• Neighborhood Reinvestment Corp.

(NRC)

American Dream Commitment 3.0American Dream Commitment 3.0

Expand Access to HomeownershipExpand Access to Homeownership Expand Access to HomeownershipExpand Access to Homeownership

Make Homeownership & Make Homeownership & Rental Housing Successful Rental Housing Successful

Make Homeownership & Make Homeownership & Rental Housing Successful Rental Housing Successful

Increase the Supply of Affordable Increase the Supply of Affordable Housing Housing

Increase the Supply of Affordable Increase the Supply of Affordable Housing Housing

Transform 50 Targeted CommunitiesTransform 50 Targeted CommunitiesTransform 50 Targeted CommunitiesTransform 50 Targeted Communities

Why We Are Here Why We Are Here

To share information on Fannie Mae’s role in community development and how Fannie Mae can work with Historically Black Colleges and Universities to assist communities in providing affordable for-sale and rental housing to low- and moderate- income families.

To develop partnerships with Historically Black Colleges and Universities to assist in revitalizing their communities.

Howard University Howard University LeDroit Park Initiative, Washington, DCLeDroit Park Initiative, Washington, DC

The emergence of the Howard University LeDroit Park Initiative coincided with the investment of over $160 million in housing, commercial and public benefit development in the LeDroit Park/ U Street community. This includes over $70 million in investment created by the Initiative.

Investment in housing, retail, dining and commercial establishments gave rise to new jobs, more tourism, increasing revenues for the city, and a renewed sense of community for one of Washington, DC’s most historic neighborhoods.

In 1995, a partnership between Howard University and Fannie Mae was formed. The neighborhood population was approximately 18,700 with a median household income of approximately $34,550 and a median home value of $128,203. Approximately 28% of the population had incomes under $15,000 and approximately 17.2% of the population could qualify to purchase a home priced at the median home value.

The results of the partnership are apparent as the once blighted neighborhood has been transformed into one that attracted the famous African-Americans who resided there in the past. Participants in this effort have always envisioned the Howard-sponsored redevelopment as a catalyst for other private and publicly sponsored revitalization activities in the neighborhoods and along the Georgia Avenue Corridor.

Completed

Complete the Howard University/LeDroit Park Neighborhood Partners Initiative. Provide $40 million in housing development financing. Partner with the city and the federal Department of Transportation to leverage the construction of $5 million in new construction streetscape improvements in historic LeDroit Park into $20 million to repair and rebuild infrastructure throughout the balance of the 150-block focus area, and support the redevelopment of the infrastructure and streetscape along Georgia Avenue.

Provided, facilitated and/or achieved over $70 million supporting the revitalization of the LeDroit Park Community including the financing of over 273 units of affordable housing.Specific initiatives included:

$800,000 in pre-development and EAHP funding financing 42 units of single family homes;

$2.5 million in construction financing approved for ACF participation in the Riggs line of credit;

$5 million ACF participation with SunTrust to acquire and rehabilitate 75 vacant properties in LeDroit Park;

$5 million in MRBs to provide mortgages for 156 units in the Lincoln Condominiums project;

$8 million in targeted mortgage revenue bonds for single family homes; and

$1.4 million to support the financing of the DC Housing Finance Agency at 9th & “U” Streets.

Investment Plan Goal No. 7 MEETING COMMUNITY DEVELOPMENT NEEDS

Source: Howard University LeDroit Park Initiative, Sorg and Associates

Town Homes in LeDroit Park at 6th & “U” Streets - BEFORE

Town Homes in LeDroit Park at 6th & “U” Streets - AFTER

Town homes in LeDroit Park at Oakdale Street - BEFORE

Town homes in LeDroit Park at Oakdale Street - AFTER

Town homes in Le Droit Park at 5th & U Streets - DURING

Town homes in Le Droit Park at 5th & U Streets AFTER

Fannie Mae and HBCU’s in Fannie Mae and HBCU’s in PartnershipPartnership

Fannie Mae can:      Provide a line of credit to colleges and universities to expand their housing

program in their immediate neighborhood. Work with DUS lenders financing multifamily development to provide

construction financing. Help the colleges and universities develop an Employer Assisted Housing

(EAH) program for faculty members and staff to encourage them to purchase homes in the neighborhoods adjoining the college.

Provide financing to the Housing Authority in the community to modernize its housing stock.

Provide financing to the Housing Authority for Hope IV development through partnership with lenders for construction and mortgage financing

Partner with the cities and mortgage lenders to expand mortgage products for homebuyers in the neighborhood.

Provide technical, industry and market resources to assist a mobilized group of community partners to prepare and implement a master community redevelopment plan.

Advantages to Doing Business Advantages to Doing Business With Fannie MaeWith Fannie Mae

In the Market Every Business Day In the Market Every Business Day In Every Market in the CountryIn Every Market in the Country Breadth/Variety of Innovative Products Breadth/Variety of Innovative Products Dependability, Integrity, and LiquidityDependability, Integrity, and Liquidity Competitive Pricing Competitive Pricing Unmatched Commitment to Preserving Unmatched Commitment to Preserving

Affordable HousingAffordable Housing

For More Information on For More Information on Fannie MaeFannie Mae

Visit us online to locate your Visit us online to locate your

Community Business Center Community Business Center

www.fanniemae.comwww.fanniemae.com

For specific questions contact For specific questions contact Maria Day-Marshall at Maria Day-Marshall at

Maria_k_day-marshall@fanniemae.com Maria_k_day-marshall@fanniemae.com (202) 752-3916 (202) 752-3916