Fannie Mae: Your Partner in Community Development

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Fannie MaeYour Partner in Community Development

• Presented ByMaria Day-MarshallSenior Business
  Manager
• Historically Black Colleges and Universities
  Conference
• Leadership, Sustainability, and Succession
  Planning
• Savannah, Georgia
• October 2628, 2005

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Fannie Maes Mission

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

Be the partner of anyone who cares about housing
and communities
Tackle the toughest housing problems in America
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Fannie Mae is a Leader in the US Housing 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

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Fannie Mae is in Your Community

• Three Regional Offices
• Fifty-five Community Business Centers
• Fannie Mae Community Business Centers are
  working in communities across the country with
  our partnerslenders, nonprofits, real estate
  professionals, state and local housing finance
  agencies, and othersto revitalize communities
  and increase the supply of affordable rental and
  for-sale housing.

55 Community Business Centers
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Role of the Community Business Centers

• 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

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Some of our Community Partners

• 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)

• 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)

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American Dream Commitment 3.0

• Expand Access to Homeownership

Make Homeownership Rental
Housing Successful
Increase the Supply of Affordable Housing
Transform 50 Targeted Communities
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Why We Are Here

• To share information on Fannie Maes 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.

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Howard University LeDroit 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. Investmen
t 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,
DCs most historic neighborhoods.
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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.
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Investment Plan Goal No. 7
MEETING COMMUNITY DEVELOPMENT NEEDS
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.

Source Howard University LeDroit Park
Initiative, Sorg and Associates

• Completed

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Town Homes in LeDroit Park at 6th U Streets
- BEFORE
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Town Homes in LeDroit Park at 6th U Streets
- AFTER
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Town homes in LeDroit Park at Oakdale Street -
BEFORE
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Town homes in LeDroit Park at Oakdale Street -
AFTER
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Town homes in Le Droit Park at 5th U Streets -
DURING
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Town homes in Le Droit Park at 5th U Streets
AFTER
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Fannie Mae and HBCUs in Partnership

• 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.

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Advantages to Doing Business With Fannie Mae

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

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For More Information on Fannie Mae

• Visit us online to locate your
• Community Business Center
• www.fanniemae.com
• For specific questions contact
• Maria Day-Marshall at
• Maria_k_day-marshall_at_fanniemae.com
• [phone]