1. Breakthrough: How One HFA Woke up the Media and Brought Attention to the HFA Way of Lending NCSHA Annual Conference October 20, 2014

2. Background New home mortgage loan with no PMI Record lending year in FY ’13 New loan product drove single-family production up by 55% News media was still fixated on doom and gloom Our record lending to LMI borrowers was an unusual angle MassHousing: How One HFA Woke Up the Media

3. Goals & Objectives Find someone in the media to write about HFA success in the wake of housing crisis Highlight that HFAs do responsible lending Suggest that conventional lenders could learn from HFAs MassHousing: How One HFA Woke Up the Media

4. Implementation Issue press release announcing record year Write the release so that it could stand on its own (acknowledging that more and more are run verbatim) Send to news outlets that gravitate to substantial financial analysis CEO ready and willing to do interviews Willingness within organization and among partners to find borrowers quickly MassHousing: How One HFA Woke Up the Media

5. Implementation Decent Iocal press coverage Inquiry from Bloomberg – High degree of interest – Detailed and substantial questions – Story would go beyond us, extend to industry Inquiry from Boston Business Journal – Also wanted to write about the broader market – Wanted to touch on Fannie and Freddie MassHousing: How One HFA Woke Up the Media

6. Bloomberg: Media relations at the most basic level Phone calls and emails Lots of questions Digging up data Providing other contacts CEO interviews (multiple) Finding a borrower to be interviewed Final fact checking before publication MassHousing: How One HFA Woke Up the Media

7. Sample interactions Other HFAs doing no-MI loans. We don't have a complete listing, although we know of ID and PA. Best bet is to contact Kristine Lewis, Communications Director at the National Council of State Housing Agencies (NCSHA) at klewis@ncsha.org or 202-624- 7710.klewis@ncsha.org Market Share: I have attached a document (titled "Warren Purchases"), and on page 2 you will see market share information for two categories of MA cities and towns. One is Gateway Cities which are priorities of the current Governor's Administration and the second is the balance of the state. Check the fine print on the document and you will see that we only compare our loans with conventional loans that are similar to MassHousing loans in terms of income and loan limits. Our market share is somewhere between 5% and 7% of all loans made in MA that meet MassHousing lending criteria. Income Limits. I have attached a document. FHA vs. MassHousing (including APR). I have attached a document. Buy-back of no-MI loans. We have only had to buy back one loan since the no-MI product was launched in Jan. 2012. Contacts. Florence Zeman at Moody's: 212-553-4836. Valerie White at S&P: 212.438.2078. Barbara Thompson, Executive Director of NCSHA: 202.624.7710 Let us know if there is anything else we can help with. Eric MassHousing: How One HFA Woke Up the Media

8. Sample interactions MassHousing: How One HFA Woke Up the Media

13. Sample interactions Prashant, It seems we have a borrower willing to talk to a reporter: Veronica xxxxxxx closed 12/31 on a MassHousing no-MI loan through NE Moves Mortgage. She can be reached at 617-599-xxxx or xxxxxx8992@yahoo.com8992@yahoo.com -Eric Great. Was it 3 percent down? It was 5%. Hope you will find the borrower helpful to your story. 5% is still quite low, and there was no MI. Thanks Eric. I will try her but really hoping to find somebody who is getting 3 percent. Possible to see if you can find somebody? We've got the word out to our lenders so hopefully something will come in. MassHousing: How One HFA Woke Up the Media

16. Results Bloomberg story was syndicated across the country BBJ article online, other local trade press Stories portrayed us and HFAs as emerging leaders with a good track record Highlighted unique partnership with Fannie Mae Numerous experts included in the article: strengthened the argument MassHousing: How One HFA Woke Up the Media

17. What we took from the experience Tie HFA’s work to what’s happening in the market Send releases to the right reporters Be very responsive and thorough with responses CEO participation critical Provide other sources that will support your claims Some of it is luck. Be ready when you get lucky. MassHousing: How One HFA Woke Up the Media