HFA Initiative Webinar Settlement Process

1
HFA Initiative WebinarSettlement Process

• Monday, December 7, 2009
• 11 a.m. 12 noon

2
Agenda

• Special Advisor Role
• Pre-Settlement Requirements
• HFA Bond Settlement (12/21)
• GSE Bond Settlement (12/23)
• Contact Information
• Questions

3
Special Advisor Role

• In order to ensure the successful settlement of
  the Program Bonds and the GSE Securities, HFA
  Special Advisors must
• do all things necessary to register the Program
  Bonds with DTC so they can be settled, released
  and credited to the Closing Agent on the
  pre-settlement day, and
• provide the GSEs with a 10b-5 opinion with
  respect to the Official Statement issued for the
  Program Bonds.
• The Special Advisor may be any experienced party
  able to successfully perform the duties detailed
  in the Placement and Settlement Agreements with
  regard to properly setting up and processing
  bonds through DTC.
• Despite the fact that an HFAs Program Bonds will
  not be traditionally underwritten or placed by an
  investment bank, an investment bank is generally
  skilled and experienced in performing the duties
  required of the Special Advisor under this
  Program.
• Similarly, a qualified Financial Advisor may
  routinely and customarily perform the duties
  required of the Special Advisor within this
  Program.
• The Special Advisor will provide a UW Source
  spreadsheet to US Bank instead of providing the
  Eligibility Questionnaire to DTC.
• US Bank will register the program bonds with DTC
  and US Bank will be listed as the Lead
  Underwriter on the DTC System.
• HFAs that are issuing Market Bonds in 2009 should
  follow their normal process for the issuance of
  Market Bonds (i.e. those bonds should not be
  included in the UW Source spreadsheet).

4
Pre-Settlement Requirements
5
HFA Bond Settlement (12/21)
6
GSE Bond Settlement (12/23)
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Contact Information

• USBank
• Email the Official Statement and the UW Source
  spreadsheet to US Bank at usbhfa_at_usbank.com to
  facilitate loading bonds onto DTC.
• For questions related to the spreadsheet please
  contact
• David MassaNY Corporate Trust ManagerU.S. Bank
  Corporate Trust Services100 Wall Street, Suite
  1600New York, NY 10005Phone [phone]Fax
  [phone]Email david.massa_at_usbank.com
• DTC
• Tracy BarnesThe Depository Trust and Clearing
  CorporationSouthern Business CenterSupervisor-
  Underwriting EligibilityOffice 813 470-1049
   Fax [phone]E-mail tbarnes_at_dtcc.com
• For questions related to the Letter of
  Representation please contact
• Joe Cutaia  212 855-1329   E-mail
  uwcorplor_at_dtcc.com
• Fannie Mae Freddie MacPlease contact your
  assigned Deal Manager

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QA

• Questions...