Mary Lee Widener President and CEO 1 Learning from the past CAB - PowerPoint PPT Presentation

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Mary Lee Widener President and CEO 1 Learning from the past CAB C ollaboration A ffordability B orrower Support 2 Redlining A long outdated practice of drawing red lines on maps to guide loan officers to not lend in

Mary Lee Widener President and CEO 1
Learning from the past CAB • C ollaboration • A ffordability • B orrower Support 2
“Redlining” • A long outdated practice of drawing red lines on maps to guide loan officers to not lend in the redlined areas. 1960s and 1970s 3
Collaboration • Nonprofit Sector – Pull via new public/private partnerships • Public Sector – Push via Law and Regulation From the Beginning to Present 4
Borrower Affordability Support • A responsive mortgage • Education insurance industry • A loan they could pay • Responsive secondary back markets • Post-funding support • And responsive rating • A different approach to agencies loss mitigation – Patient Capital From the Beginning to Present 5
Median Household Income NHSA NeighborWorks Loans 1983 to 2006 $50,000 $45,000 $40,000 $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $0 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 United States NHSA Clients 6
CAB Works Total Delinqency Foreclosure Starts 18.00% 3.50% 16.00% 3.00% 14.00% 2.50% 12.00% 2.00% 10.00% 8.00% 1.50% 6.00% 1.00% 4.00% 0.50% 2.00% 0.00% 0.00% Q1.2001 Q2.2003 Q3.2005 Q1.2001 Q2.2003 Q3.2005 NHSA Portfolio MBAA NonPrime NHSA Portfolio MBAA NonPrime MBAA FHA MBAA FHA 7 NHSA Portfolio Financing
Accessing the Capital Markets • Standardization • Automation • More transparent process • Growing acceptance • Shift to capital markets financing 1999 to Present 8
Capital Markets Financing Total Delinqency Foreclosure Starts 16.00% 1.20% 14.00% 1.00% 12.00% 0.80% 10.00% 8.00% 0.60% 6.00% 0.40% 4.00% 0.20% 2.00% 0.00% 0.00% Q1.2001 Q2.2003 Q3.2005 Q1.2001 Q2.2003 Q3.2005 NHSA MBS MBAA Prime NHSA MBS MBAA Prime MBAA FHA MBAA FHA 9 NHSA MBS Sales Financing
Looking to the Future • Challenges Remain – NIMBYism • Overlooks economic vibrancy of diverse communities – Sustainability • Ability of borrowers to pay over long term • Adequate return for investors • Appropriate compensation to nonprofit service providers – Subprime Lending 10
Conventional Loan GSEs Mortgage Credit Servicers Insurance Investors Alternative Credit Subsidy CRA Providers Lenders Government Nonprofit Educators Your Neighborhood Seat? Stakeholders 11 The new CAB is technology driven

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