Falter A schedule defends from chaos and whim. — ANNIE DILLARD, winner of Pulitzer Prize in nonfiction,

50434327040000090 FALK MICHAEL & FALK ANNIE 5,605,614.00 0.53 SINGLE FAMILY 1998 1998 0

34327040000090 600 TARPON WAY FALK MICHAEL & FALK ANNIE 50000 5900000 5655614 5630614 5605614

50434327040000090 FALK MICHAEL & FALK ANNIE 5,605,614.00 0.53 SINGLE FAMILY 1998 1998 0

pe of Mortgage Product, 1008 — 2Q10 CO ee = Other Non-Conventional Non- $6,000 -_- SSubprime Conventional , BAItA Mortgages = = Interest Only 30% of Fannie = Conventional Mae’s Total 4 Loan Guarantee Balance, But Causing 70-80% Quarterly Credit Losses ($MM) of Losses Owing to Lower Loan Quality 1908

se affordable housing for low-income groups instructed the Department of Housing and Urban Development (HUD) to develop affordable housing goals for Fannie and WWW.STANDARDANDPOORS.COM/RATINGSDIRECT AUGUST 5, 2014 24 1351366 | 302136118 HOUSE_OVERSIGHT_025786 --- PAGE BREAK --- Economic Research: Ho

ore): v¥ Fannie Mae launched their “HomeReady Mortgage” program: You can (again) use the income from non-borrower household members. v¥ Freddie and Fannie are working on a common Securitization Platform. Just for them (for now) but will eventually allow other participants. Question as to whether this is

22 23 24 25 • • J8RPEPS2 speaking this morning is Annie Farmer. MS. FARMER: Good morning, your Honor. THE COURT:

ANNIE