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FDMC Jacqui 1-800-FREDDIE www.FREDDIEMAC.com Servicer must respond within 72 hrs of receipt o f docs $3000 max for relo $6,000 max subordinate lien holder FNMA/FDMC own 88% of all notes in US want 120%, 31 day decision HAFA is over www.LoanScamAlert.com can provide info on loan mod scams  ________________________________________________________________________ MAKING HOME AFFORDABLE Shane Hartzley 877-827-3702 www.MHA.gov www.HomeLoans.va.gov for Escalation www.HMPADMIN.com for learning center and webinars Goal is to stop foreclosure Unemployment program for Homeowners HAFA for people upside down on house HO who cannot qualify for modification HO moved and needs to sell available for primary, rental and vacant homes $3000 relo $8500 cap on 2nd lien holders SS Terms can be preapproved Foreclosure process stopped Docs RMA, No income, SSA, DIL, RAS, AltRASS, Optional 30 day decision Auto Hardship if reduced income 620 score or less 90+ day del

Taxes & Real Estate Transactions Dennis Bean 7/19/13 CHC General Meeting Speaker First American Title, Fresno, CA Distinguishing Gains from Cancellation of Indebtedness and Dealing with Tax Liens Gross Income According to IRC Sec 61, gross income means all income from whatever source derived including the following: Gains from Dealings in Property (Deed in Lieu, foreclosures, short sales, etc are all sales for tax purposes) Income from discharge of indebtedness (Debt resolved fro less than full amount owed) Exclusions from Income 108 - Safe Harbors of Indebtedness Title 11 case (BKCY) Insolvency Farm Indebtedness Real Property Business Indebtedness Qualified Principal Residence Indebtedness Acquisition Indebtedness not to exceed $800,000 in CA Includes debt to acquire, construct or substantially improve the principal residence of the debtor, secured by the property. Principal residence same test as under the IRC 121(Exclusion of gain on sale of personal

California Association of Realtors Sacramento May 2013 Joel Saylor Economic Update Recovering Market up 34.2% statewide Job loss down Housing is in it's lowest supply since 2005 Discrepancy between Housing starts v Demand First time home buyers having difficult time qualifying for loans\ Rent/Buy 8 in 10 Renters still want to Buy a home (81% believe in home ownership) They believe a home is still a good long term investment 24% choose to rent 70% of sales are Equity American Dream v Deficit Reduction MID Mortgage Interest Deduction will go away, not equal in all states if passed, it could really affect the incentive in home ownership, 71% oppose it GSEs own 70% of all notes FNMA/FDMC profited largely in 2012, reducing debt of 2009 quickly Long Term Future of Brokerage Disintermediation of FB, Google, Bookstores, Zillow, etc Trust will become a huge issue Customer Expectations will be critical - HO does not believe we have their best interest at heart

Real Estate: Housing recover to continue with sales and prices making gains in 2014 by BoNhia Lee on October 8, 2013   A pent up demand for homes will continue to help the California housing market recover next year even as government leaders remain at odds about the federal budget.   Home sales are expected to increase 3.2% statewide next year to about 444,000 units, according to the 2014 housing forecast from the California Association of Realtors . That’s a modest increase from the projected 2013 sales figure of 430,000 homes.   The median home price is forecast to increase 6% to $432,800 in 2014 following a projected 28% increase this year to $408,600. Fresno County’s median home price in August was $184,000.   “As the market continues to improve, more previously underwater homeowners will look toward selling, making housing inventory less scarce in 2014,” said Leslie Appleton-Young, the association’s vice president and chief economist. \ Some t

THE WASHINGTON POST Big banks feeling the pinch of decline in mortgage lending Paul Sakuma/AP - JPMorgan Chase on Friday reported a third-quarter loss after a big charge for legal expenses. http://www.washingtonpost.com/ By Danielle Douglas , Published: October 11 E-mail the writer Mortgage production at JPMorgan Chase and Wells Fargo fizzled in the last quarter, the banks said Friday, as fewer borrowers sought to refinance their home loans amid rising interest rates. The slowdown for the nation’s largest mortgage lenders reflects a shift in the housing recovery, which has largely been relying on refinance activity. Industry analysts anticipated the boom to peter out this year as the number of loans eligible for interest rate reductions dropped. But some suspect that the Federal Reserve’s signal this spring that it could reduce its stimulus program hastened the decline. More bu

World Leaders Press the U.S. on Fiscal Crisis Jonathan Ernst/Reuters Christine Lagarde, the I.M.F. chief, said a “lack of certainty” threatened the global economy. By ANNIE LOWREY and NATHANIEL POPPER   W ASHINGTON — Leaders at World Bank and International Monetary Fund meetings on Sunday pleaded, warned and cajoled: the United States must raise its debt ceiling and reopen its government or risk “massive disruption the world over,” as Christine Lagarde, the fund’s managing director, put it.        Multimedia Graphic The Back and Forth Over the Shutdown   The fiscal problems of the United States overshadowed the official agendas for the meetings, with representatives from dozens of countries — including two of Washington’s most important economic partners, Saudi Arabia and China — publicly expressing worries about what was happening on Capitol Hill and in the White House.        The leaders came to Washington to talk about the i