Delaware State Housing Authority Governors Conference on Housing

Delaware State Housing Authority Governor’s Conference on Housing October 11, 2012 Delaware State Housing Authority 18 The Green Dover, DE 19901 (302) 739 -4263 ■ (888) 363 -8808 Visit us at www. destatehousing. com 1

Housing Market Review: Building Permits Delaware Building Permits 2000 – 2012 YTD 10 000 9 000 8582 8 000 7786 7 000 6 000 5 000 4 000 3 000 2 000 6276 8529 6331 6678 5663 4804 4943 3346 3121 2955 3150 2605 1 000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD 2

Housing Market Review: Home Sales Delaware Home Sales 2005 – 2012 YTD 18 000 16 000 6276 15751 14 000 13647 12 000 12011 10 000 8533 8 000 8314 8247 8111 6 000 4827 4 000 2 000 0 2005 2006 2007 2008 2009 2010 2011 2012 YTD (Q 2) 3

Housing Market Review: Foreclosure Filings 7 000 Delaware Foreclosure Filings 2000 – 2012 YTD 6 000 6157 6457 6276 5 000 5112 4488 4 000 3853 3 000 2 000 1 000 0 1434 1708 2121 2204 2121 2174 2288 688 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD (Sept) 4

Housing Market Review: Sheriff Sales Delaware Sheriff Sales 2008 – 2012 YTD 900 2008: 1, 290 2009: 1, 327 2010: 1, 876 2011: 2, 539 2012 YTD: 1, 183 800 700 600 500 400 300 200 100 363 287 264 295 331 350 379 791 609 549 488 495 456 647 519 386 267 146 179 Q 1 08 Q 2 08 Q 3 08 Q 4 08 Q 1 09 Q 2 09 Q 3 09 Q 4 09 Q 1 10 Q 2 10 Q 3 10 Q 4 10 Q 1 11 Q 2 11 Q 3 11 Q 4 11 Q 1 12 Q 2 12 Q 3 12 0 5

Housing Market Review: Mortgage Loan Delinquencies Loans 30+ Days Past Due or in Foreclosure (%) 16 DE US 15 14 13 12 11 10 DE 11. 75% US 11. 62% 9 8 7 6 Q 4 07 Q 1 08 Q 2 08 Q 3 08 Q 4 08 Q 1 09 Q 2 09 Q 3 09 Q 4 09 Q 1 10 Q 2 10 Q 3 10 Q 4 10 Q 1 11 Q 2 11 Q 3 11 Q 4 11 Q 1 12 Q 2 12 6

Housing Market Review: Delinquencies and Unemployment and Total Loans Past Due Delaware, 2002 - 2012 12 11 Unemployment 10 Loans Past Due 9 8 7 6 5 4 3 2 02 03 04 05 06 07 08 09 10 11 12 Sources: Bureau of Labor Statistics, Mortgage Bankers Association 7

Contact Information Matthew Heckles Director of Policy and Planning Delaware State Housing Authority 18 The Green Dover, Delaware 19901 Telephone: 739 -4263 Fax: 739 -6122 Toll Free: 888 -363 -8808 E-mail: Anas@destatehousing. com Thank you! 8

Delaware Foreclosure Response Plan Governor’s Foreclosure Mitigation Initiative: 1. Before mortgage delinquency: education and outreach 2. During foreclosure: mortgage assistance programs 3. After foreclosure: help families and communities recover 9

Education and Outreach 1. Mass Media and Targeted Marketing • TV / Radio • Billboards / Bus Signs • Mailing / Direct contact • Internet / Hotline 2. Housing Counseling • 6, 000 homeowners served with DSHA funds since 2009 • Shift to performance-based compensation • Creation of new funding systems • Development of network to increase consistency and quality 10

Delaware Emergency Mortgage Assistance Program DEMAP began as a pilot program in 2007 • Provides a bridge loan to homeowners • Must be 90 -days delinquent and demonstrate hardship • Funded primarily with state Bond Bill funds since 2007 • $6 million added in federal funds last year • Assisted 121 homeowners in FY 12 • Low re-default rate Wilmington Senior Tax Assistance Program 11

Neighborhood Recovery Federal Neighborhood Stabilization Program (NSP) • $34 million in federal funds flowing through DSHA to local jurisdictions • Acquire, rehab, sell foreclosed homes • Over 200 units Exploring more ways to help families post-foreclosure 12

Mortgage Settlement Agreement The Multi-State Mortgage Settlement Agreement will provide the funding for DSHA foreclosure prevention programs for the foreseeable future • $3. 5 million for Education/Outreach and Housing Counseling • $4 million for Emergency Mortgage Assistance • $888, 000 for Legal Assistance to Homeowners 13

Contact Information Matthew Heckles Director of Policy and Planning Delaware State Housing Authority 18 The Green Dover, Delaware 19901 Telephone: 739 -4263 Fax: 739 -6122 Toll Free: 888 -363 -8808 E-mail: Anas@destatehousing. com Thank you! 14