1. Housing Development Fund, Inc. & Fairfield University’s Center for Faith and Public Life Present Predatory Lending: Assessing the Problem & Highlighting Solutions

2. A Step-by-Step Look at HDF’s First-Time Homebuyers’ Program Step1: Applicant calls HDF to schedule orientation Step 2: Applicant attends orientation session and brings with him/her documents necessary to determine income eligibility and mortgage readiness Step 3: HDF counselors assess client documentation for income eligibility and mortgage readiness Step 4: Income eligible and mortgage ready/near ready clients attend one-on- one homeownership counseling with HDF counselor Step 5: Clients are matched with appropriate sources of assistance funding and submitted for pre-qualification by HDF’s loan department Step 6: Pre-qualified clients obtain first mortgage commitment by an HDF banking partner Step 7: Selected buyers are presented to HDF’s loan committee for approval Step 8: HDF prepares loan closing for approved buyers, buyers take possession of home

3. Expanding our Impact Household by Household, Town by Town FY97- FY02: 149 loans, 5 towns

4. Expanding our Impact Household by Household, Town by Town FY03: 210 loans, 8 towns

5. Expanding our Impact Household by Household, Town by Town FY04: 280 loans, 8 towns

6. Expanding our Impact Household by Household, Town by Town FY05: 360 loans, 12 towns

7. Expanding our Impact Household by Household, Town by Town FY06: 457 loans, 18 towns

8. Expanding our Impact Household by Household, Town by Town FY07 estimated: 600 closings, 23 towns

9. Problems and Solutions Problems Consumer rights are being ignored Consumers make wrong choices because they are unaware of alternatives Consumers have misplaced loyalties in the home buying process Solutions – Education, Education, Education An educated consumer is the best protection Education and counseling are the best anxiety busters Post-purchase counseling is critical for protecting assets HDF’s programs and services strive to protect homebuyers