18th Annual Western Lenders’ Conference Highlights from the West Region September 18, 2017 Tom Azumbrado, Regional Director, Multifamily West Region Larry Fergison Chief, Technical Specialist Branch Multifamily West Region

MF West Region Organizational Chart

MF West Region Production Division

Multifamily West Region Staffing Divisions Current Staff Level Authorized Staff Level San Francisco Production 20 29 Denver Production 22 Production Total 40 51 San Francisco AM 55 59 Denver AM 39 42 Asset Management Total 94 101 San Francisco Operations 4 6 Denver Operations 2 Operations Total 8 Regional Office 3 Total 143 163 Note: Original Transformation staffing plan allotted 180 FTEs

Multifamily West Region Staffing Current Vacant Positions PRODUCTION:  3 Underwriters                                 2 Appraisers                                 3 Construction Analysts                                 3 Program Assistants   ASSET MANAGEMENT:  4 Account Executives                                           3 Program Assistants OPERATIONS:    2 Program Analysts On Board Staff = 143 Vacant Positions = 20 Total FTE = 163 Original FTE for Transformation = 180 (staffing 37 less than originally planned) Recent hiring approvals to be onboarded this FY = 2 (1 Appraiser & 1 Production Program Assistant)

Multifamily West Region Asset Management Multifamily West Assisted Properties Units Housing Assistance 3,984 212,416 $1,886,812,452 Multifamily West Insured Properties Units Unpaid Balance 1,580 180,458 $12,823,331,009 Total Properties Total Units 4,985 363,897

Population of 14 states State Population Insured Only Assisted Only Both Alaska 708,421 3 60 5 California 37,985,370 382 1,453 306 Hawaii 1,375,345 6 97 8 Idaho 1,604,863 26 125 Nevada 2,802,541 45 48 13 Oregon 3,883,322 102 294 29 Total for SF Jurisdiction 48,359,862 564 2,077 369 Arizona 6,580,081 82 152 37 Colorado 5,238,386 136 281 49 Montana 994,692 10 86 22 North Dakota 712,845 98 South Dakota 819,194 7 177 14 Utah 2,898,247 63 76 Washington 6,920,563 100 380 56 Wyoming 569,896 9 50 15 Total for DEN Jurisdiction 24,733,904 415 1,300 232 GRAND TOTAL 73,093,766 979 3,377 601

Post Transformation Activities Past hiring Continual staff training Continuous improvements Improve SOP Improve communications/coordination Updates from Transformation How it went What we’re doing now What we expect to happen Future staffing and hiring Ask Tom what he wants to say on this slide

FY17 Application Submissions August/September total includes SF intake as well up to received 9/5. There were 5 added to August (starting with affinity), 2 to September (ending with Caritas Villa). We should ask Mark how many he has in intake as well, and update next week with any new apps received . 9/14 – we evened out July and August because while 35 deals went “active” in August, we received approximately 7 of those in July. Also added two to Sept. Bob numbers for a7s received today. 193 Total Applications Submitted FY 17

# Applications Currently in Active Processing 221(d)(4) 42* 223(f) 26 223(a)(7) 3 Total Pipeline 71 *Includes one Section 220 and one 241a This does not include projects with Firms Issued, in Closing or in their Construction/Repair period. This is a count of applications that have not had an initial closing; are we including those extra intake numbers as well, like the previous slide? YES I added 2 d4s and 5 fs as of 9/7 last included is caritas villa. Additionally, do we want to include risk-share? They are included in Bob’s data print out but not here.

143 Firms Issued FY17 221(d)(4) NC/SR 223(f) 223(a)(7) Firms Issued 32 % on Time 88% (goal 60 days) Average Processing Time 45 Days Average Time When Over 80 Days 223(f) Firms Issued 90 % on Time 68% (goal 45 days) Average Processing Time 45 Days Average Time When Over 70 Days 223(a)(7) Firms Issued 21 % on Time 57% (goal 30 days) Average Processing Time 33 Days Average Time When Over 44 Days

Closings FY 2017 221(d)(4) NC/SR 223(f) 223(a)(7) Total Projects: 134 Properties: 24 Units: 3,942 Mortgage Amount $640,081,300 223(f) Properties 81 Units 11,898 Mortgage Amount $1,131,295,100 223(a)(7) Properties 29 Units 4,826 Mortgage Amount $401,933,500 Total Projects: 134 Mortgage Amount FY17: $2,173,309,900 Mortgage Amount FY16: $998,090,900 As of 9/14/2017

FY17 Closings by State 12 2 10 4 11 27 42 23 2 State Closings Units Mortgage Alaska 2 116 $5,620,200 Arizona 23 2,562 $217,936,800 California 42 5,441 $583,977,800 Colorado 27 3,599 $428,968,700 Hawaii $0 Idaho 10 758 $69,586,700 Montana 291 $25,434,500 North Dakota Nevada 2,836 $281,067,300 Oregon 1,368 $161,606,400 South Dakota 4 96 $4,153,400 Utah 11 2,154 $218,253,400 Washington 12 1,899 $219,286,400 Wyoming 168 $11,037,300 The total here is 155 vs 132 because it includes risk-share and 241a etc how do we want the total this year? We did not update the 2 additional closings (132 vs 134 here) 2

LIHTC’s FY 2017 Closings (as of 09/07/2017) 9 states, 33 projects, $407,305,100 LIHTC closings State Closings Units Mortgage Amount AZ 1 101 $7,760,000 CA 15 1,459 $182,003,200 CO 8 566 $42,378,400 ID 114 $8,278,000 MT 96 $8,353,000 NV 2 265 $23,144,400 UT 3 558 $47,040,000 WA 534 $92,683,400 WY 112 $8,000,000

West Region Updates FY17 Accomplishments Transformation is Over! Single Underwriter Role Consistency in the West Region Application Intake and Screening Improved Timeframes Challenges Shortage of Staff Large Geographical Area, Site Visits HEROS/Environmental Assessment Factors Davis Bacon (Split and triple wage determinations) CNA eTool (Training 10/10 in San Francisco, 10/17 in Denver)