1. 1 CMD National Multicultural Sales Division House America Loan and Fannie Mae’s Smart Commute Program Last updated 06/8/2007 Presented by: Janice C. Williams, RVP, Multicultural Sales

2. 2 CMD National Multicultural Sales Division Easing the Road to Homeownership Countrywide’s House America Loan Benefits: Removal of some traditional down payment barriers Qualify by using other sources of income Other family members Income from various sources that may be difficult to verify Great fit for first time home buyers and move up buyers Qualified borrowers could benefit from Fannie Mae’s Smart Commute™ program

3. 3 CMD National Multicultural Sales Division Basic Features 1-Unit Properties 15, 20, 25, 30 and 40 year terms available on standard fixed rate loans 5/1, 7/1, 10/1 fixed period ARMs with 30 and 40 year terms Fannie Mae conforming loan limits apply No minimum loan amount Up to 100%/105% LTV/CLTV 2-Unit Properties 30 and 40 year term Fixed Rate 5/1, 7/1 or 10/1 fixed period ARMs 97%/105% maximum LTV/CLTV

4. 4 CMD National Multicultural Sales Division Basic Features - cont’d 3- or 4-Unit Properties 30 and 40 year fixed rate only 95%/105% maximum LTV/CLTV The following type of subordinate financing can be used: Countrywide-approved Community Seconds Closed End Seconds (fully amortized, level payments)

5. 5 CMD National Multicultural Sales Division Basic Features - cont’d Funds for down payment, closing costs, prepaid items may be: Pooled funds (1-unit properties only) Gifts from a relative, fiancé, fiancée, or domestic partner Unsecured loans or grants from non-profit organizations, employers or government agencies

6. 6 CMD National Multicultural Sales Division Basic Features - cont’d Secured loan on borrower’s financial assets, such as a 401(k) or life insurance policy Contributions from interested parties Countrywide approved community second programs

7. 7 CMD National Multicultural Sales Division Special Features 1- Unit Owner Occupied Only Nontraditional Credit Cash-on-hand Pooled Funds Boarder Income Secondary Stated Income (exception: allowed on 2-unit properties)

8. 8 CMD National Multicultural Sales Division Special Features – cont’d Non-Occupant co-borrower Parent Loan – when the occupying borrower and non-occupant co-borrower are immediate family members other conditions may apply

9. 9 CMD National Multicultural Sales Division House America ® Loan Solutions Fills the gap between the FHA loan limit and conventional loan amount for creditworthy borrowers who might have qualifying challenges Fills product need for a specific borrower demographic who do not have cash for a down payment and do not qualify for secondary financing Designed with the unique Multicultural Market customer needs in mind

10. 10 CMD National Multicultural Sales Division House America ® Loan Solutions – cont’d House America Loan customers may have owned another property as long as at time of closing no other property is owned Fills the need for unique income situations that are not allowed under standard guidelines

11. 11 CMD National Multicultural Sales Division Recap of House America ® Loan Benefits Easier road to homeownership One program, all the enhancements! No-down program Liberal back-end ratio qualification Secondary financing through Community Seconds or Closed End Second Programs Special Features assist more home buyers in getting to “Yes”

12. 12 CMD National Multicultural Sales Division Recap of House America ® Loan Benefits – cont’d Program available to new residents and non-permanent resident aliens under the same terms as US Citizens - “Undocumented” and foreign national residents are ineligible Offers excellent financing for owner-occupied units Having everything in one easy program helps save you valuable time Fills the need for unique income situations that are not allowed under standard guidelines

13. 13 CMD National Multicultural Sales Division Smart Commute™ Eligibility Eligible Properties –Properties consisting of one-unit, owner occupied, principal residences –Condo units, planned unit developments that conform to any related Fannie Mae requirements are eligible –Existing structures and new construction

14. 14 CMD National Multicultural Sales Division Smart Commute™ Qualifications Property Location –Must be located in areas designated by Fannie Mae near specific public transportation District of Columbia – Washington Metro Maryland – Baltimore, Washington Metro Virginia – Fairfax, Manassas, Washington Metro Motor Vehicle Ownership –Borrower cannot own or lease more than two vehicles (excluding recreational vehicles and motorcycles)

15. 15 CMD National Multicultural Sales Division Smart Commute™ Benefits Qualified borrowers who purchase property near public transportation could benefit as follows: –$200 per month where only one borrower’s income is used to qualify for the mortgage. –$250 per month where the income of more than one borrower is used to qualify for the mortgage.

16. 16 CMD National Multicultural Sales Division It’s all about People, Principles and Passion No one works harder to deliver the American Dream of Homeownership!!!