home has a new address

Table of Contents

• Welcome to Bank of America Home Loans

• Power of the Brand

• Clarity CommitmentTM

• New Interactive Website

• Important Homebuyer Information

• Available Loan Products

• Summary

• Conclusion

2

Welcome to Bank of America Home Loans

Bank of America Home Loans is leading the way in the industry as a company committed to doing what is right for your customers, helping your customers when purchasing a home, and making sure they are able to stay there.

Our Brand Promise:We will always be a responsible lender.

We will help create successful homeowners.

• For real estate professionals like you, this means more opportunities for your business as we work together.

• For your customers, it means a commitment to responsible lending.• This means more satisfied customers and more business for you.

Welcome to Bank of America Home Loans.Starting today, home has a new address.

The Power of the Brand

• 59 million + households, or 1 in 2 households, have a relationship with us (1)

• Over 6100 retail banking centers (2)

• Over $850 billion in domestic deposits (3)

• Award winning online banking, with 30 million active users (4)

• More than 18,000 ATMs (5)

• #1 Conforming lender - $178 billion in production (FY 2008) (6)

• #1 FHA/VA lender - $73 billion in production (FY 2008) (7)

• #1 Prime Jumbo lender - $ 16.1 billion in production (FY 2008) (8)

• A leading home loan originator and servicer with more than 20 percent market share in originations and a $2 trillion servicing portfolio of almost 13.7 million loans (9)

• Of all the mortgages Bank of America originated in Q4, 2008, one in five was to a low to moderate income borrower. (10)

Source: Bank of America Q408-Investor Fact Book and Q109 Earnings Release

(1) Total households – 59 million (excludes CFC and ML) / Q408 Earnings Report(2) Banking stores – 6,145 / Q109 Earnings Report, pg 8(3) Total domestic deposits - $873.5 billion / Q109 Earnings Supplemental, pg 5(4) 30 million online banking customers / Q109 Earnings Report, pg. 8.(5) ATMs (branded) – 18,532 / Q109 Earnings Report, pg 8(6) #1 Conforming lender based on $178 billion in production (FY 2008) / MKG-

IMF(7) #1 FHA/VA lender with $73 billion in production (FY 2008) / MKG-IMF(8) #1 Prime Jumbo lender with $16.1 billion in production (FY 2008) / MKG-IMF(9) Bank of America Home Loans is a leading home loan originator and servicer

with more than 20 percent market share in originations and a $2 trillion servicing portfolio of almost 13.7 million loans / IMF

(10) In Q408, 22.5% of Bank of America’s originations were to low or moderate income borrowers / Neighborhood Lending (Lawrence Maser)

Footnotes:

The Bank You Trust

• We are committed to always being a responsible lender.

• We clearly spell out your client’s loan requirements.

• We keep you informed about the loan status.

• We help your clients close on time.

A Committed Approach

Your customers expect openness and trust, financial responsibility and an easy to understand approach from those with whom they do business. Bank of America Home Loans will deliver on these expectations by demonstrating the ways we put the customers’ best interest first. Two examples of these demonstrations are:

• New Clarity Commitment™

• New Interactive Website:bankofamerica.com/homeloans

Clarity Commitment TM

Loan Summary including: Mortgage amount Type of mortgage Type of rate and amount Loan term

Monthly Payments Summary including: Estimated monthly payment Principal and interest Estimated escrow Payment due dates

Information about: Closing fees Prepaid taxes, insurance and interest

An easy-to-understand one page document that highlights key loan information in plain language that shows the customer’s:

The summary is provided as a convenience, does not serve as a substitute for a borrower’s actual loan documents, and is not a commitment to lend. Borrowers should become fully informed by reviewing all of the loan and disclosure documentation provided.

Our New Home Loans Web Sitebankofamerica.com/homeloans

Take a look at our new web siteThe new site redefines the homebuying experience, enabling customers to choose from 3

starting points:• Buying a Home• Refinancing• Borrowing from Your Home

Benefits of the new site include tools for:• Determining affordability• Helping customers visualize their debt to

income ratio• Understanding how to impact a credit score• Understanding how savings relates to the

complete financial picture

Our new home loans website links directly to my Bank of America personal website.

Important Homebuyer Information

• American Recovery and Reinvestment Act of 2009Key Provisions for Homebuyers and Homeowners

1st Time Homebuyer Federal Tax Credit

– The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000, whichever is less.

– The tax credit is for first-time home buyers only.

– The tax credit does not have to be repaid, provided the homeowner occupies the property as his/her primary residence for the first 3 years following the date of purchase.

– The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

– Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit*.

* Partial tax credits for those with incomes over the above limits may be available. Consult your tax advisor for details.

A Wide Range of Home Loan Solutions

• Fixed rate mortgages

• Adjustable rate mortgages (ARMs)

• Jumbo mortgages

• FHA/VA mortgages

• USDA mortgages

Finding the right mortgage involves a lot of choices. At Bank of America Home Loans, we have a wide range of options that can meet a variety of financial needs.

A Wide Range of Home Loan Solutions

Jumbo Loan ProductsWe think our jumbo rates are

exceptionally low, and we think

you may agree.

Features include:• Low, competitive rates.

• Loan amounts up to $3 million.

• Fixed- or adjustable-rate loans.

• Single family residences, condos,

co-ops (only in NY, NJ) and investment properties.

FHA Loans

– NEW loan limits up to $729,750 through 2009.

– Down payment options as low as 3.5% on owner occupied properties, including 2-4 unit buildings.

– Low, competitive rates.

– Gift funds allowed - buyer’s entire cash investment can be gifted.

– No reserves required on 1-2 unit properties.

– More flexible credit guidelines than other loan products.

– Seller contributions allowed – up to 6% on all LTVs (can include closing costs).

– Fixed- and adjustable-rate loans available.

– Loans are assumable with credit approval.

A Wide Range of Home Loan Solutions

Loans for Veterans (VA Loans)

•No down payment required with full entitlement

•Loans to $417,000 with 100% financing nationwide, with higher limits in “high cost” areas

•Seller contributions allowed up to 4%

•More flexible income, employment and savings requirements

•Fixed and adjustable rate programs available

A Wide Range of Home Loan Solutions

Rural Development Loans (USDA)

• 100% Financing (of Appraised Value regardless of sales price)

•Competitive Rates & Fees•Seller contributions allowed up to 6%•No Mortgage Insurance•Fixed and adjustable rate programs available

•Not restricted to new homebuyers•No maximum purchase price•Gift, grants and bond funds ok•Generous income limits•2% funding fee (can be added to loan amount)

•No asset limits / no reserves required

A Wide Range of Home Loan Solutions

• In today’s housing market, you need an experienced and stable lender you can count on.

• You can rely on me to personally help your customers find a loan that suits their needs. I’ll work with them every step of the way to help close on time. That means more satisfied customers and more business for you.

Summary

By working together, we can help more qualified borrowers becomesuccessful homeowners.

Call me today and let’s get started growingyour business.

Conclusion

Bank of America, N.A., Member FDIC Equal Housing Lender © 2009 Bank of America Corporation. Some products may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. THIS INFORMATION IS INTENDED FOR USE BY REAL ESTATE PROFESSIONALS ONLY AND SHOULD NOT BE DISTRIBUTED OR SHOWN TO CUSTOMERS OR ANY OTHER THIRD PARTY. AR78721

Office: 603-279-1480 x222Fax: 888-224-6092Mobile: 603-275-6182

92 Main StreetMeredith, NH 03253

https://mortgage.bankofamerica.com/patricknewcomb patrick.newcomb@bankofamerica.com