1. Mortgage Finance Reform Panel: “Housing America’s Future” 2013 Maryland Governor’s Housing Conference September 27, 2013 Ethan Handelman Vice President for Policy and Advocacy National Housing Conference ehandelman@nhc.org (202) 466-2121 x238

2. Who Is NHC? 2 Since 1931, the National Housing Conference (NHC) has been dedicated to helping ensure safe, decent and affordable housing for all in America. NHC actively engages and convenes its membership in nonpartisan advocacy for effective housing policy solutions at the local, state and national levels, working closely with our research affiliate the Center for Housing Policy. NHC draws its membership from every housing industry segment: developers, advocates, investors, managers, lenders, nonprofits, realtors, state and local housing agencies, associations, and more.

3. Legislation comparison Corker-Warner Government behind private capital Guarantee is explicit and paid-for Insurance-based approach with strong regulation Funds NHTF, MAF, CMF for affordable housing Multifamily placeholder, more to come Hensarling Purely private capital, no explicit guarantee Scales back 30-year fixed- rate mortgage Constrains FHA lending Regulation mostly for standardization and transparency Very little on multifamily 3

4. Legislative activity SenateBanking Corker-Warner becoming Committee effort Fiercely bipartisan Hearings, stakeholder outreach, drafting Markup may happen by year end House Financial Services PATH Act passed quickly through committee on party line vote Separate action by Democratic minority No announced work plan 4

5. Necessary elements Outcomes Liquidity Stability Access and affordability Features Government backstop, explicit and paid-for Private capital in front Housing as a core objective Strong regulation Separate multifamily regulation and issuance 5

6. Role of the BPC Report Powerful bipartisan endorsement of government role Clear explanations of essential concepts Puts housing need at the center of the debate Use the BPC Housing Commission Report as ammunition 6

7. Mortgage Finance Reform 2013 Maryland Governor’s Housing Conference September 27, 2013 Ethan Handelman Vice President for Policy and Advocacy National Housing Conference ehandelman@nhc.org (202) 466-2121 x238