Housing Opportunity and Mortgage Equity Act of 2011

GSE Reform; Federal Housing Finance Reform; Homeownership and responsible lending; Fair Mortgage Practices Act; Borrower Protection; H.R. 363, Housing Opportunity and Mortgage Equity Act of 2011; H.R. 379, Community Partners Next Door Act of 2011; H.R. 627, Home Energy Loss Prevention Act; H.R. 762, Public Housing Reinvestment and Tenant Protection Act; H.R. 1131, Preventing Homeowners from Foreclosure Act of 2011; H.R. 1430, Flood Insurance Choice Act; H.R. 1453, Flood Insurance Fairness Act of 2011 H.R. 1859, Housing Finance Reform Act, S.1834, Residential Mortgage Market Privatization and Standardization Act of 2011 S.1963, Mortgage Finance Act of 2011 H.R.3644, Private Mortgage Market Investment Act S. 2250, Mortgage Forgiveness Tax Relief Act Item 17 Continued: the Federal Housing Finance Agency

Client expense: $1,560,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Corporation for Natl & Community Service, Council of Economic Advisers (CEA), Environmental Protection Agency (EPA), Export-Import Bank of the United States (EXIM Bank), Farm Credit Administration, Federal Accounting Standards Advisory Board (FASAB), Federal Bureau of Investigation (FBI), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Justice, Dept of (DOJ), Natl Economic Council (NEC), Office of Management & Budget (OMB), Office of Personnel Management (OPM), Office of Thrift Supervision (OTS), Patent & Trademark Office (PTO), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), State, Dept of (DOS), Treasury, Dept of, U.S. Copyright Office, U.S. Trade Representative (USTR), White House Office

H.R. 363 (Housing Opportunity and Mortgage Equity Act of 2011); H.R. 344 (Fiscal Responsibility Effective Enforcement Act of 2011); H.R. 463 (Fannie Mae and Freddie Mac Transparency Act of 2011); H.R. 653 (Financial Information Privacy Act of 2011); H.R. 757 (Equitable Treatment of Investors Act); H.R. 836 (Emergency Mortgage Relief Program Termination Act); H.R. 1053 (stock quote decimalization); H.R. 1062 (Burdensome Data Collection Relief Act); H.R. 1070 (Small Company Capital Formation Act of 2011); H.R. 1082 (Small Business Capital Access and Job Preservation Act); H.R. 1112 (National Association of Registered Agents and Brokers Reform Act of 2011); H.R. 1151 (Emergency Mortgage Relief and Neighborhood Stabilization Programs Cost Recoupment Act of 2011); H.R. 1341 (A bill to provide a point of order against consideration of any measure that would increase the statutory limit on the public debt above $14.294 trillion unless that measure has been publicly available for a full 7 calendar days before consideration on the floor of the Senate); H.R. 1438 (Regulation Moratorium and Jobs Preservation Act of 2011); H.R. 1532 (A bill to amend the Budget Control Act of 2011 to require the joint select committee of Congress to report findings and propose legislation to restore the Nation's workforce to full employment over the period of fiscal years 2012 and 2013); H.R. 1535 (Personal Data Protection and Breach Accountability Act of 2011); H.R. 1539 (Asset-Backed Market Stabilization Act of 2011); H.R. 1544 (Small Company Capital Formation Act of 2011); H.R. 1550 (National Infrastructure Bank Act of 2011); H.R. 1573 (To facilitate implementation of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, promote regulatory coordination, and avoid market disruption); H.R. 1610 (Business Risk Mitigation and Price Stabilization Act of 2011); H.R. 1838 (To repeal a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act prohibiting any Federal bailout of swap dealers or participants); H.R. 1840 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1965 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.); H.R. 2167 (Private Company Flexibility Act); H.R. 2308 (SEC Regulatory Accountability Act); H.R. 2313 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); H.R. 2413 (Secondary Market Facility for Residential Mortgages Act of 2011); H.R. 2483 (Whistleblower Improvement Act); H.R. 2517 (Shareholder Protection Act of 2011); H.R. 2586 (Swap Execution Facility Clarification Act); H.R. 2603 (Maintaining Agency Direction on Financial Fraud Act); H.R. 2612 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the authority of the Bureau of Consumer Financial Protection to prohibit certain acts or practices); H.R. 2651 (To require that the United States Government prioritize all obligations on the debt held by the public, Social Security benefits, and military pay in the event that the debt limit is reached, and for other purposes); H.R. 2682 (Business Risk Mitigation and Price Stabilization Act); H.R. 2779 (To exempt inter-affiliate swaps from certain regulatory requirements put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act); H.R. 2827 (To amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes); H.R. 2855 (Emergency Jobs Now Act); H.R. 2930 (Entrepreneur Access to Capital Act); H.R. 2931 (Full Faith and Credit Act); H.R. 2940 (Access to Capital for Job Creators Act); H.R. 2964 (Unfunded Mandates Accountability Act); H.R. 3010 (Regulatory Accountability Act of 2011); H.R. 3078 (United States-Colombia Trade Promotion Agreement Implementation Act); H.R. 3079 (United States-Panama Trade Promotion Agreement Implementation Act); H.R. 3080 (United States-Korea Free Trade Agreement Implementation Act); H.R. 3084 (Mortgage Credit Availability Act of 2011); H.R. 3128 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to adjust the date on which consolidated assets are determined for purposes of exempting certain instruments of exempting smaller institutions from capital deductions); H.R. 3213 (Small Company Job Growth and Regulatory Relief Act of 2011); H.R. 3283 (Swap Jurisdiction Certainty Act); H.R. 3313 (Wall Street Trading and Speculators Tax Act); H.R. 3318 (Growing Jobs Through Capital Act of 2011); H.R. 3336 (Small Business Credit Availability Act); H.R. 3527 (Protecting Main Street End-Users From Excessive Regulation); H.R. 3530 (Freddie Mac Debt Reduction Act of 2011); H.R. 3606 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); H.R. 3635 (Investing in America's Small Businesses Act of 2011); H.R. 3644 (Private Mortgage Market Investment Act); H.R. 3655 (Small Business Access to Capital Act of 2011); H.R. 3665 (Wall Street Accountability through Sustainable Funding Act); H.R. 3733 (Affordable Mortgage for Homeowners Act of 2011); H.R. 3871 (Proprietary Information Protection Act of 2012); H.R. 4088 (Capital Expansion Act); H.R. 4235 (To amend the Securities Exchange Act of 1934 and the Commodity Exchange Act to repeal the indemnification requirements for regulatory authorities to obtain access to swap data required to be provided by swaps entities under such Acts.); H.R. 4624 (Investment Advisor Oversight Act of 2012); H.R. 6397 (Defending American Taxpayers from Abusive Government Takings Act of 2012); H. Amdt. 465 (Amendment prohibits the use of funds by the CFTC to promulgate any final rules under the Commodity Exchange Act as added by the Dodd-Frank Act until 12 months after the promulgation of final swap transaction reporting rules under the Commodity Exchange Act.); S. 23 (Patent Reform Act of 2011); S. 556 (A bill to amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1276 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); S. 1544 (Small Company Capital Formation Act of 2011); S. 1619 (The Currency Exchange Act); S. 1641 (A Bill to Implement the U.S.-Colombia Trade Promotion Agreement); S. 1642 (A Bill to Implement the U.S.-Korea Trade Promotion Agreement); S. 1643 (A Bill to Implement the U.S.-Panama Trade Promotion Agreement); S. 1650 (Dodd-Frank Improvement Act of 2011); S. 1787 (Wall Street Trading and Speculators Tax Act); S. 1791 (Democratizing Access to Capital Act of 2011); S. 1824 (Private Company Flexibility and Growth Act); S. 1831 (Access to Capital for Job Creators Act); S. 1835 (United States Covered Bond Act); S. 1907 (PCAOB Enforcement Transparency Act of 2011); S. 1933 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); S. 1941 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1962 (Startup Expansion and Investment Act); S. 1963 (Mortgage Finance Act of 2011); S. 1970 (CROWDFUND Act); S. 1975 (No More IMF Bailouts Act); S. 1997 (FHA Bailout Protection Act of 2011); S. 2033 (Closing the Derivatives Blended Rate Loophole Act); S. 2038 (STOCK Act); S. 2055 (A bill to amend the Federal Deposit Insurance Act with respect to the protection of certain information.); S. 2102 (Cybersecurity Information Sharing Act of 2012); S. 2105 (Cybersecurity Act of 2012); S. 3414 (A bill to enhance the security and resiliency of the cyber and communications infrastructure of the United States.); S. 3620 (A bill to amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes.); S. Amdt. 1818 to S. 1813 (offshore tax havens); SR-NASDAQ-2012-005 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Establish an Enhanced Display Distributor Fee); SR-NASDAQ-2012-042 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Re-organize NASDAQ's Rules Governing the Fees Applicable to NASDAQ's Depth-of-Book Market Data); SR-NASDAQ-2012-044 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Modify the Fees Applicable to Non-Display Usage of Certain NASDAQ Depth-of-Book Market Data); SR-NYSEArca-2011-96 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for the NYSE Arca Integrated Data Feed); FINRA Rule 4560 (short interest reporting); EU data protection rules; Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; Recordkeeping under Exchange Act Rule 17a-4(b)(4); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Section 621; Section 941); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Resolution Authority for Systemically Significant Financial Companies Act of 2009; China - strategic and economic dialogue; Market Structure Issues (dark pools, flash quotes, high frequency trading); Transatlantic Economic Council (Trade Issues); Preservation of independent contractor status for financial services sector; Asian Pacific Economic Council Privacy Issues; Bilateral Investment Treaties, India; Eminent domain; Russia Permanent Normal Trade Relations; Transpacific Partnership; U.S./EU cross-border regulatory issues; India Market Access Issues, Response to Royal Bank of India discussion; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; EU Alternative Investment Fund Managers Proposal (AIFM); Basel Capital Rules; G-20; Amendments to the 2012 Indian Finance Bill; Regulatory Capital Requirements; Single Platform/Government Sponsored Enterprises; SEC Regulation AB2; Trust Indenture Act; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; Bankruptcy reform for municipalities; Financial Stability Oversight Council (FSOC); Support of financial literacy; Privacy and cyber security issues; Self-Regulatory Organizations (SRO) rulemaking; Municipal advisor regulation; Tax-exemption for municipal bonds; Cross-border guidance; CFTC exemptive order on extraterritorial scope of Title VII; Tri-party repo; Computerized trading; Market Data Exchange Act Section 19 (and related rules).

H.R. 363 (Housing Opportunity and Mortgage Equity Act of 2011); H.R. 344 (Fiscal Responsibility Effective Enforcement Act of 2011); H.R. 463 (Fannie Mae and Freddie Mac Transparency Act of 2011); H.R. 653 (Financial Information Privacy Act of 2011); H.R. 757 (Equitable Treatment of Investors Act); H.R. 836 (Emergency Mortgage Relief Program Termination Act); H.R. 1062 (Burdensome Data Collection Relief Act); H.R. 1070 (Small Company Capital Formation Act of 2011); H.R. 1082 (Small Business Capital Access and Job Preservation Act); H.R. 1112 (National Association of Registered Agents and Brokers Reform Act of 2011); H.R. 1151 (Emergency Mortgage Relief and Neighborhood Stabilization Programs Cost Recoupment Act of 2011); H.R. 1341 (A bill to provide a point of order against consideration of any measure that would increase the statutory limit on the public debt above $14.294 trillion unless that measure has been publicly available for a full 7 calendar days before consideration on the floor of the Senate); H.R. 1438 (Regulation Moratorium and Jobs Preservation Act of 2011); H.R. 1532 (A bill to amend the Budget Control Act of 2011 to require the joint select committee of Congress to report findings and propose legislation to restore the Nation's workforce to full employment over the period of fiscal years 2012 and 2013); H.R. 1535 (Personal Data Protection and Breach Accountability Act of 2011); H.R. 1539 (Asset-Backed Market Stabilization Act of 2011); H.R. 1544 (Small Company Capital Formation Act of 2011); H.R. 1550 (National Infrastructure Bank Act of 2011); H.R. 1573 (To facilitate implementation of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, promote regulatory coordination, and avoid market disruption); H.R. 1610 (Business Risk Mitigation and Price Stabilization Act of 2011); H.R. 1838 (To repeal a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act prohibiting any Federal bailout of swap dealers or participants); H.R. 1840 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1965 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.); H.R. 2167 (Private Company Flexibility Act); H.R. 2308 (SEC Regulatory Accountability Act); H.R. 2313 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); H.R. 2413 (Secondary Market Facility for Residential Mortgages Act of 2011); H.R. 2483 (Whistleblower Improvement Act); H.R. 2517 (Shareholder Protection Act of 2011); H.R. 2586 (Swap Execution Facility Clarification Act); H.R. 2603 (Maintaining Agency Direction on Financial Fraud Act); H.R. 2612 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the authority of the Bureau of Consumer Financial Protection to prohibit certain acts or practices); H.R. 2651 (To require that the United States Government prioritize all obligations on the debt held by the public, Social Security benefits, and military pay in the event that the debt limit is reached, and for other purposes); H.R. 2682 (Business Risk Mitigation and Price Stabilization Act); H.R. 2779 (To exempt inter-affiliate swaps from certain regulatory requirements put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act); H.R. 2827 (To amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes); H.R. 2855 (Emergency Jobs Now Act); H.R. 2930 (Entrepreneur Access to Capital Act); H.R. 2931 (Full Faith and Credit Act); H.R. 2940 (Access to Capital for Job Creators Act); H.R. 2964 (Unfunded Mandates Accountability Act); H.R. 3010 (Regulatory Accountability Act of 2011); H.R. 3078 (United States-Colombia Trade Promotion Agreement Implementation Act); H.R. 3079 (United States-Panama Trade Promotion Agreement Implementation Act); H.R. 3080 (United States-Korea Free Trade Agreement Implementation Act); H.R. 3084 (Mortgage Credit Availability Act of 2011); H.R. 3128 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to adjust the date on which consolidated assets are determined for purposes of exempting certain instruments of exempting smaller institutions from capital deductions); H.R. 3213 (Small Company Job Growth and Regulatory Relief Act of 2011); H.R. 3283 (Swap Jurisdiction Certainty Act); H.R. 3313 (Wall Street Trading and Speculators Tax Act); H.R. 3318 (Growing Jobs Through Capital Act of 2011); H.R. 3336 (Small Business Credit Availability Act); H.R. 3527 (Protecting Main Street End-Users From Excessive Regulation); H.R. 3530 (Freddie Mac Debt Reduction Act of 2011); H.R. 3606 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); H.R. 3635 (Investing in America's Small Businesses Act of 2011); H.R. 3644 (Private Mortgage Market Investment Act); H.R. 3655 (Small Business Access to Capital Act of 2011); H.R. 3665 (Wall Street Accountability through Sustainable Funding Act); H.R. 3733 (Affordable Mortgage for Homeowners Act of 2011); H.R. 3871 (Proprietary Information Protection Act of 2012); H.R. 4088 (Capital Expansion Act); H.R. 4235 (To amend the Securities Exchange Act of 1934 and the Commodity Exchange Act to repeal the indemnification requirements for regulatory authorities to obtain access to swap data required to be provided by swaps entities under such Acts.); H.R. 4624 (Investment Advisor Oversight Act of 2012); H. Amdt. 465 (Amendment prohibits the use of funds by the CFTC to promulgate any final rules under the Commodity Exchange Act as added by the Dodd-Frank Act until 12 months after the promulgation of final swap transaction reporting rules under the Commodity Exchange Act.); S. 23 (Patent Reform Act of 2011); S. 556 (A bill to amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1276 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); S. 1544 (Small Company Capital Formation Act of 2011); S. 1619 (The Currency Exchange Act); S. 1641 (A Bill to Implement the U.S.-Colombia Trade Promotion Agreement); S. 1642 (A Bill to Implement the U.S.-Korea Trade Promotion Agreement); S. 1643 (A Bill to Implement the U.S.-Panama Trade Promotion Agreement); S. 1650 (Dodd-Frank Improvement Act of 2011); S. 1787 (Wall Street Trading and Speculators Tax Act); S. 1791 (Democratizing Access to Capital Act of 2011); S. 1824 (Private Company Flexibility and Growth Act); S. 1831 (Access to Capital for Job Creators Act); S. 1835 (United States Covered Bond Act); S. 1907 (PCAOB Enforcement Transparency Act of 2011); S. 1933 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); S. 1941 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1962 (Startup Expansion and Investment Act); S. 1963 (Mortgage Finance Act of 2011); S. 1970 (CROWDFUND Act); S. 1975 (No More IMF Bailouts Act); S. 1997 (FHA Bailout Protection Act of 2011); S. 2033 (Closing the Derivatives Blended Rate Loophole Act); S. 2038 (STOCK Act); S. 2055 (A bill to amend the Federal Deposit Insurance Act with respect to the protection of certain information.); S. Amdt. 1818 to S. 1813 (offshore tax havens); SR-NASDAQ-2012-005 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Establish an Enhanced Display Distributor Fee); SR-NASDAQ-2012-042 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Re-organize NASDAQ's Rules Governing the Fees Applicable to NASDAQ's Depth-of-Book Market Data); SR-NASDAQ-2012-044 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Modify the Fees Applicable to Non-Display Usage of Certain NASDAQ Depth-of-Book Market Data); SR-NYSEArca-2011-96 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for the NYSE Arca Integrated Data Feed); FINRA Rule 4560 (short interest reporting); EU data protection rules; Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; Recordkeeping under Exchange Act Rule 17a-4(b)(4); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Section 621; Section 941); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Resolution Authority for Systemically Significant Financial Companies Act of 2009; China - strategic and economic dialogue; Market Structure Issues (dark pools, flash quotes, high frequency trading); Transatlantic Economic Council (Trade Issues); Preservation of independent contractor status for financial services sector; Asian Pacific Economic Council Privacy Issues; Bilateral Investment Treaties, India; Eminent domain; Russia Permanent Normal Trade Relations; Transpacific Partnership; U.S./EU cross-border regulatory issues; India Market Access Issues, Response to Royal Bank of India discussion; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; EU Alternative Investment Fund Managers Proposal (AIFM); Basel Capital Rules; G-20; Amendments to the 2012 Indian Finance Bill; Regulatory Capital Requirements; Single Platform/Government Sponsored Enterprises; SEC Regulation AB2; Trust Indenture Act; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; Bankruptcy reform for municipalities; Financial Stability Oversight Council (FSOC); Support of financial literacy; Privacy and cyber security issues; Self-Regulatory Organizations (SRO) rulemaking; Municipal advisor regulation; Tax-exemption for municipal bonds.

H.R. 31-The Fannie Mae and Freddie Mac Accountability and Transparency for Taxpayers Act. The legislation enhances the authority of FHFA's Inspector General and expands reporting requirements to Congress. H.R. 463-Fannie Mae and Freddie Mac Transparency Act. Amends Fannie Mae and Freddie Mac's charters to provide that, during any period in which either entities are under conservatorship or receivership, it shall be considered an agency subject to the public information disclosure requirements of the Freedom of Information Act. H.R. 940-United States Covered Bond Act. Would establish the regulatory framework for the creation of a covered bond market for real estate securities. H.R. 1221-the Equity In Government Compensation Act. The legislation suspends the compensation packages for executives of Fannie Mae and Freddie Mac and places all other employees on the General Schedule pay scale. H.R. 1222-the GSE Subsidy Elimination Act. The legislation requires that FHFA gradually increase guarantee fees at Fannie Mae and Freddie Mac over the next two years. Under the legislation, the FHFA will consider the market conditions in raising the GSEs guarantee fees to ensure that its actions do not disrupt a housing recovery. H.R. 1223-the GSE Credit Risk Equitable Treatment Act. The legislation helps clarify the risk retention rules required under Section 941 of the Dodd-Frank Act to make clear that Fannie Mae and Freddie Mac will be held to the same standards as any other secondary mortgage market participants. H.R. 1224-the Portfolio Risk Reduction Act. The legislation accelerates and formalizes the reduction in the size of the GSEs portfolios. The legislation would cap the GSEs portfolios to no more than $700 billion in the first year, declining to $600 billion for year two, $475 billion for year three, $350 billion for year four, and finally to $250 billion in year five. H.R. 1225-the GSE Debt Issuance Approval Act. The legislation requires the Treasury Department to approve any new debt issuance by the GSEs. H.R. 1226-the GSE Mission Improvement Act. The legislation the GSEs affordable housing goals. H.R. 1227-the GSE Risk and Activities Limitation Act. The legislation prohibits the GSEs from offering, undertaking, transacting, conducting or engaging in any new business activities while in conservatorship or receivership. H.R. 1754-Preserving Equal Access to Mortgage Finance Programs Act. The legislation would make permanent the current temporary high cost loan limits for Fannie Mae, Freddie Mac, and the FHA. H.R. 1859-Housing Finance Reform Act. The legislation would reform the secondary mortgage market and the government sponsored enterprises Fannie Mae and Freddie Mac H.R. 2413- Secondary Market Facility for Residential Mortgages Act. The legislation would reform the secondary mortgage market and the government sponsored enterprises Fannie Mae and Freddie Mac. H.R. 3630/H.R. 3765-Both bills contain provisions that would raise revenue by forcing the Government Sponsored Enterprises Fannie Mae and Freddie Mac, and the Federal Housing Administration to increase their fees. S. 170/H.R. 363-Helping Responsible Homeowners Act. The Legislation would require Fannie Mae and Freddie Mac to allow homeowners with current GSE loans to refinance regardless of their current loan-to-value. S. 509-Small Business Lending Enhancement Act of 2011. The legislation Amends the Federal Credit Union Act to allow credit unions greater flexibility in their ability to make business loans. S. 693/H.R. 1182-GSE Bailout Elimination and Taxpayer Protection Act. The legislation would wind down Fannie Mae and Freddie Mac through a number of steps. S. 3047-Expanding Refinancing Opportunities Act-Would allow non agency and government backed mortgages to refinance in FHA loans. C.A.R. has lobbied on the future of the government sponsored enterprises (Fannie Mae and Freddie Mac) and their future regulatory structure. C.A.R. has lobbied for the extension of the current FHA, Fannie Mae and Freddie Mac loan limits that are set to expired at the end of September. C.A.R. has lobbied on the issue of mortgage servicing and concerns regarding inefficiencies and lack of standardization. C.A.R. has lobbied on the Administration's Reforming America's Housing Finance Market proposal to Congress and its potential impact on the availability of capital to the nation's mortgage market. C.A.R. has lobbied on the Federal Housing Finance Agencies proposed rule on Private Transfer Fee covenants RIN 2590-AA41 C.A.R. has lobbied on the issue of changes to the Home Affordable Refinance Program to make the program more successful by easing qualification requirements. C.A.R. has lobbied on the Federal Housing Finance Agencys proposed Strategic Plan for Enterprise Conservatorships, released on February 21, 2012. C.A.R. has lobbied for legislation and/or regulations to expedite the decision process of subordinate liens in the short sale process.

Policy issues pertaining to mortgage insurance, government-sponsored entities, the housing finance market, foreclosure mitigation, FHA reform, refinance proposals, including S. 3085, S. 170, H.R. 363, and S. 3047, and private mortgage insurance tax deduction, including H.R. 1018 and H.R. 4290.

Client expense: Not reported · Firm income: $340,000

Policy issues pertaining to mortgage insurance, government-sponsored entities, the housing finance market, foreclosure mitigation, FHA reform, refinance proposals, including S. 3085, S. 170, H.R. 363, and S. 3047, and private mortgage insurance tax deduction, including H.R. 1018 and H.R. 4290.

Client expense: Not reported · Firm income: $340,000

Policy issues pertaining to mortgage insurance, government-sponsored entities, the housing finance market, foreclosure mitigation, FHA reform, refinance proposals, including S. 3085, S. 170, H.R. 363, and S. 3047, and private mortgage insurance tax deduction, including H.R. 1018 and H.R. 4290.

Client expense: Not reported · Firm income: $340,000

GSE Reform; Federal Housing Finance Reform; Homeownership and responsible lending; Fair Mortgage Practices Act; Borrower Protection; H.R. 363, Housing Opportunity and Mortgage Equity Act of 2011; H.R. 379, Community Partners Next Door Act of 2011; H.R. 627, Home Energy Loss Prevention Act; H.R. 762, Public Housing Reinvestment and Tenant Protection Act; H.R. 1131, Preventing Homeowners from Foreclosure Act of 2011; H.R. 1430, Flood Insurance Choice Act; H.R. 1453, Flood Insurance Fairness Act of 2011 H.R. 1859, Housing Finance Reform Act, S.1834, Residential Mortgage Market Privatization and Standardization Act of 2011 S.1963, Mortgage Finance Act of 2011 H.R.3644, Private Mortgage Market Investment Act Item 17 Continued: the Federal Housing Finance Agency

Client expense: $1,620,000 · Firm income: Not reported

H.R. 363 (Housing Opportunity and Mortgage Equity Act of 2011); H.R. 344 (Fiscal Responsibility Effective Enforcement Act of 2011); H.R. 463 (Fannie Mae and Freddie Mac Transparency Act of 2011); H.R. 653 (Financial Information Privacy Act of 2011); H.R. 757 (Equitable Treatment of Investors Act); H.R. 836 (Emergency Mortgage Relief Program Termination Act); H.R. 1062 (Burdensome Data Collection Relief Act); H.R. 1070 (Small Company Capital Formation Act of 2011); H.R. 1082 (Small Business Capital Access and Job Preservation Act); H.R. 1112 (National Association of Registered Agents and Brokers Reform Act of 2011); H.R. 1151 (Emergency Mortgage Relief and Neighborhood Stabilization Programs Cost Recoupment Act of 2011); H.R. 1341 (A bill to provide a point of order against consideration of any measure that would increase the statutory limit on the public debt above $14.294 trillion unless that measure has been publicly available for a full 7 calendar days before consideration on the floor of the Senate); H.R. 1438 (Regulation Moratorium and Jobs Preservation Act of 2011); H.R. 1532 (A bill to amend the Budget Control Act of 2011 to require the joint select committee of Congress to report findings and propose legislation to restore the Nation's workforce to full employment over the period of fiscal years 2012 and 2013); H.R. 1535 (Personal Data Protection and Breach Accountability Act of 2011); H.R. 1539 (Asset-Backed Market Stabilization Act of 2011); H.R. 1544 (Small Company Capital Formation Act of 2011); H.R. 1550 (National Infrastructure Bank Act of 2011); H.R. 1573 (To facilitate implementation of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, promote regulatory coordination, and avoid market disruption); H.R. 1610 (Business Risk Mitigation and Price Stabilization Act of 2011); H.R. 1838 (To repeal a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act prohibiting any Federal bailout of swap dealers or participants); H.R. 1840 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1965 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.); H.R. 2167 (Private Company Flexibility Act); H.R. 2308 (SEC Regulatory Accountability Act); H.R. 2313 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); H.R. 2413 (Secondary Market Facility for Residential Mortgages Act of 2011); H.R. 2483 (Whistleblower Improvement Act); H.R. 2517 (Shareholder Protection Act of 2011); H.R. 2586 (Swap Execution Facility Clarification Act); H.R. 2603 (Maintaining Agency Direction on Financial Fraud Act); H.R. 2612 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the authority of the Bureau of Consumer Financial Protection to prohibit certain acts or practices); H.R. 2651 (To require that the United States Government prioritize all obligations on the debt held by the public, Social Security benefits, and military pay in the event that the debt limit is reached, and for other purposes); H.R. 2682 (Business Risk Mitigation and Price Stabilization Act); H.R. 2779 (To exempt inter-affiliate swaps from certain regulatory requirements put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act); H.R. 2827 (To amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes); H.R. 2855 (Emergency Jobs Now Act); H.R. 2930 (Entrepreneur Access to Capital Act); H.R. 2931 (Full Faith and Credit Act); H.R. 2940 (Access to Capital for Job Creators Act); H.R. 2964 (Unfunded Mandates Accountability Act); H.R. 3010 (Regulatory Accountability Act of 2011); H.R. 3078 (United States-Colombia Trade Promotion Agreement Implementation Act); H.R. 3079 (United States-Panama Trade Promotion Agreement Implementation Act); H.R. 3080 (United States-Korea Free Trade Agreement Implementation Act); H.R. 3084 (Mortgage Credit Availability Act of 2011); H.R. 3128 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to adjust the date on which consolidated assets are determined for purposes of exempting certain instruments of exempting smaller institutions from capital deductions); H.R. 3213 (Small Company Job Growth and Regulatory Relief Act of 2011); H.R. 3283 (Swap Jurisdiction Certainty Act); H.R. 3313 (Wall Street Trading and Speculators Tax Act); H.R. 3318 (Growing Jobs Through Capital Act of 2011); H.R. 3336 (Small Business Credit Availability Act); H.R. 3527 (Protecting Main Street End-Users From Excessive Regulation); H.R. 3530 (Freddie Mac Debt Reduction Act of 2011); H.R. 3606 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); H.R. 3635 (Investing in America's Small Businesses Act of 2011); H.R. 3644 (Private Mortgage Market Investment Act); H.R. 3655 (Small Business Access to Capital Act of 2011); H.R. 3665 (Wall Street Accountability through Sustainable Funding Act); H.R. 3733 (Affordable Mortgage for Homeowners Act of 2011); H.R. 3871 (Proprietary Information Protection Act of 2012); H.R. 4088 (Capital Expansion Act); H.R. 4235 (To amend the Securities Exchange Act of 1934 and the Commodity Exchange Act to repeal the indemnification requirements for regulatory authorities to obtain access to swap data required to be provided by swaps entities under such Acts.); H.R. 4624 (Investment Advisor Oversight Act of 2012); H. Amdt. 465 (Amendment prohibits the use of funds by the CFTC to promulgate any final rules under the Commodity Exchange Act as added by the Dodd-Frank Act until 12 months after the promulgation of final swap transaction reporting rules under the Commodity Exchange Act.); S. 23 (Patent Reform Act of 2011); S. 556 (A bill to amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1276 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); S. 1544 (Small Company Capital Formation Act of 2011); S. 1619 (The Currency Exchange Act); S. 1641 (A Bill to Implement the U.S.-Colombia Trade Promotion Agreement); S. 1642 (A Bill to Implement the U.S.-Korea Trade Promotion Agreement); S. 1643 (A Bill to Implement the U.S.-Panama Trade Promotion Agreement); S. 1650 (Dodd-Frank Improvement Act of 2011); S. 1787 (Wall Street Trading and Speculators Tax Act); S. 1791 (Democratizing Access to Capital Act of 2011); S. 1824 (Private Company Flexibility and Growth Act); S. 1831 (Access to Capital for Job Creators Act); S. 1835 (United States Covered Bond Act); S. 1907 (PCAOB Enforcement Transparency Act of 2011); S. 1933 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); S. 1941 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1962 (Startup Expansion and Investment Act); S. 1963 (Mortgage Finance Act of 2011); S. 1970 (CROWDFUND Act); S. 1975 (No More IMF Bailouts Act); S. 1997 (FHA Bailout Protection Act of 2011); S. 2033 (Closing the Derivatives Blended Rate Loophole Act); S. 2038 (STOCK Act); S. 2055 (A bill to amend the Federal Deposit Insurance Act with respect to the protection of certain information.); S. Amdt. 1818 to S. 1813 (offshore tax havens); SR-NASDAQ-2012-005 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Establish an Enhanced Display Distributor Fee); SR-NASDAQ-2012-042 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Re-organize NASDAQ's Rules Governing the Fees Applicable to NASDAQ's Depth-of-Book Market Data); SR-NASDAQ-2012-044 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Modify the Fees Applicable to Non-Display Usage of Certain NASDAQ Depth-of-Book Market Data); SR-NYSEArca-2011-96 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for the NYSE Arca Integrated Data Feed); FINRA Rule 4560 (short interest reporting); EU data protection rules; Swap dealer and major swap participant recordkeeping and reporting, duties, and conflicts of interest policies and procedures; Futures Commission Merchant and Introducing Broker Conflicts of Interest Policies and Procedures; Swap dealer, major swap participant, and futures commission merchant chief compliance officer; Recordkeeping under Exchange Act Rule 17a-4(b)(4); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Section 621; Section 941); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Resolution Authority for Systemically Significant Financial Companies Act of 2009; China - strategic and economic dialogue; Market Structure Issues (dark pools, flash quotes, high frequency trading); Transatlantic Economic Council (Trade Issues); Preservation of independent contractor status for financial services sector; Asian Pacific Economic Council Privacy Issues; Bilateral Investment Treaties, India; Eminent domain; Russia Permanent Normal Trade Relations; Transpacific Partnership; U.S./EU cross-border regulatory issues; India Market Access Issues, Response to Royal Bank of India discussion; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; EU Alternative Investment Fund Managers Proposal (AIFM); Basel Capital Rules; G-20; Amendments to the 2012 Indian Finance Bill; Regulatory Capital Requirements; Single Platform/Government Sponsored Enterprises; SEC Regulation AB2; Trust Indenture Act; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; Bankruptcy reform for municipalities; Financial Stability Oversight Council (FSOC); Support of financial literacy; Privacy and cyber security issues; Self-Regulatory Organizations (SRO) rulemaking; Municipal advisor regulation; Tax-exemption for municipal bonds.

Medicare payment policies; H.R. 363, Middle Class Tax Relief and Job Creation Act of 2012.

Client expense: Not reported · Firm income: $120,000

Government targets: Agency for Healthcare Research & Quality (AHRQ), HOUSE OF REPRESENTATIVES, SENATE

H.R. 363 (Housing Opportunity and Mortgage Equity Act of 2011); H.R. 344 (Fiscal Responsibility Effective Enforcement Act of 2011); H.R. 463 (Fannie Mae and Freddie Mac Transparency Act of 2011); H.R. 653 (Financial Information Privacy Act of 2011); H.R. 757 (Equitable Treatment of Investors Act); H.R. 836 (Emergency Mortgage Relief Program Termination Act); H.R. 1062 (Burdensome Data Collection Relief Act); H.R. 1070 (Small Company Capital Formation Act of 2011); H.R. 1082 (Small Business Capital Access and Job Preservation Act); H.R. 1112 (National Association of Registered Agents and Brokers Reform Act of 2011); H.R. 1151 (Emergency Mortgage Relief and Neighborhood Stabilization Programs Cost Recoupment Act of 2011); H.R. 1341 (A bill to provide a point of order against consideration of any measure that would increase the statutory limit on the public debt above $14.294 trillion unless that measure has been publicly available for a full 7 calendar days before consideration on the floor of the Senate); H.R. 1438 (Regulation Moratorium and Jobs Preservation Act of 2011); H.R. 1532 (A bill to amend the Budget Control Act of 2011 to require the joint select committee of Congress to report findings and propose legislation to restore the Nation's workforce to full employment over the period of fiscal years 2012 and 2013); H.R. 1535 (Personal Data Protection and Breach Accountability Act of 2011); H.R. 1539 (Asset-Backed Market Stabilization Act of 2011); H.R. 1544 (Small Company Capital Formation Act of 2011); H.R. 1550 (National Infrastructure Bank Act of 2011); H.R. 1573 (To facilitate implementation of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, promote regulatory coordination, and avoid market disruption); H.R. 1610 (Business Risk Mitigation and Price Stabilization Act of 2011); H.R. 1838 (To repeal a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act prohibiting any Federal bailout of swap dealers or participants); H.R. 1840 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1965 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.); H.R. 2167 (Private Company Flexibility Act); H.R. 2308 (SEC Regulatory Accountability Act); H.R. 2313 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); H.R. 2413 (Secondary Market Facility for Residential Mortgages Act of 2011); H.R. 2483 (Whistleblower Improvement Act); H.R. 2517 (Shareholder Protection Act of 2011); H.R. 2586 (Swap Execution Facility Clarification Act); H.R. 2603 (Maintaining Agency Direction on Financial Fraud Act); H.R. 2612 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the authority of the Bureau of Consumer Financial Protection to prohibit certain acts or practices); H.R. 2651 (To require that the United States Government prioritize all obligations on the debt held by the public, Social Security benefits, and military pay in the event that the debt limit is reached, and for other purposes); H.R. 2682 (Business Risk Mitigation and Price Stabilization Act); H.R. 2779 (To exempt inter-affiliate swaps from certain regulatory requirements put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act); H.R. 2827 (To amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes); H.R. 2855 (Emergency Jobs Now Act); H.R. 2930 (Entrepreneur Access to Capital Act); H.R. 2931 (Full Faith and Credit Act); H.R. 2940 (Access to Capital for Job Creators Act); H.R. 2964 (Unfunded Mandates Accountability Act); H.R. 3010 (Regulatory Accountability Act of 2011); H.R. 3078 (United States-Colombia Trade Promotion Agreement Implementation Act); H.R. 3079 (United States-Panama Trade Promotion Agreement Implementation Act); H.R. 3080 (United States-Korea Free Trade Agreement Implementation Act); H.R. 3084 (Mortgage Credit Availability Act of 2011); H.R. 3128 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to adjust the date on which consolidated assets are determined for purposes of exempting certain instruments of exempting smaller institutions from capital deductions); H.R. 3213 (Small Company Job Growth and Regulatory Relief Act of 2011); H.R. 3283 (Swap Jurisdiction Certainty Act); H.R. 3313 (Wall Street Trading and Speculators Tax Act); H.R. 3318 (Growing Jobs Through Capital Act of 2011); H.R. 3336 (Small Business Credit Availability Act); H.R. 3527 (Protecting Main Street End-Users From Excessive Regulation); H.R. 3530 (Freddie Mac Debt Reduction Act of 2011); H.R. 3606 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); H.R. 3635 (Investing in America's Small Businesses Act of 2011); H.R. 3644 (Private Mortgage Market Investment Act); H.R. 3655 (Small Business Access to Capital Act of 2011); H.R. 3665 (Wall Street Accountability through Sustainable Funding Act); H.R. 3733 (Affordable Mortgage for Homeowners Act of 2011); H.R. 3871 (Proprietary Information Protection Act of 2012); H.R. 4088 (Capital Expansion Act); H.R. 4235 (To amend the Securities Exchange Act of 1934 and the Commodity Exchange Act to repeal the indemnification requirements for regulatory authorities to obtain access to swap data required to be provided by swaps entities under such Acts.); H. Amdt. 465 (Amendment prohibits the use of funds by the CFTC to promulgate any final rules under the Commodity Exchange Act as added by the Dodd-Frank Act until 12 months after the promulgation of final swap transaction reporting rules under the Commodity Exchange Act.); S. 23 (Patent Reform Act of 2011); S. 556 (A bill to amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1276 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); S. 1544 (Small Company Capital Formation Act of 2011); S. 1619 (The Currency Exchange Act); S. 1641 (A Bill to Implement the U.S.-Colombia Trade Promotion Agreement); S. 1642 (A Bill to Implement the U.S.-Korea Trade Promotion Agreement); S. 1643 (A Bill to Implement the U.S.-Panama Trade Promotion Agreement); S. 1650 (Dodd-Frank Improvement Act of 2011); S. 1787 (Wall Street Trading and Speculators Tax Act); S. 1791 (Democratizing Access to Capital Act of 2011); S. 1824 (Private Company Flexibility and Growth Act); S. 1831 (Access to Capital for Job Creators Act); S. 1835 (United States Covered Bond Act); S. 1907 (PCAOB Enforcement Transparency Act of 2011); S. 1933 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); S. 1941 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1962 (Startup Expansion and Investment Act); S. 1963 (Mortgage Finance Act of 2011); S. 1970 (CROWDFUND Act); S. 1975 (No More IMF Bailouts Act); S. 1997 (FHA Bailout Protection Act of 2011); S. 2033 (Closing the Derivatives Blended Rate Loophole Act); S. 2038 (STOCK Act); S. 2055 (A bill to amend the Federal Deposit Insurance Act with respect to the protection of certain information.); SR-NASDAQ-2012-005 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Establish an Enhanced Display Distributor Fee); SR-NASDAQ-2012-042 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Re-organize NASDAQ's Rules Governing the Fees Applicable to NASDAQ's Depth-of-Book Market Data); SR-NASDAQ-2012-044 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Modify the Fees Applicable to Non-Display Usage of Certain NASDAQ Depth-of-Book Market Data); SR-NYSEArca-2011-96 (Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for the NYSE Arca Integrated Data Feed); FINRA Rule 4560 (short interest reporting); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Resolution Authority for Systemically Significant Financial Companies Act of 2009; China - strategic and economic dialogue; Market Structure Issues (dark pools, flash quotes, high frequency trading); Transatlantic Economic Council (Trade Issues); Preservation of independent contractor status for financial services sector; Asian Pacific Economic Council Privacy Issues; Bilateral Investment Treaties, India; Transpacific Partnership; U.S./EU cross-border regulatory issues; India Market Access Issues, Response to Royal Bank of India discussion; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; EU Alternative Investment Fund Managers Proposal (AIFM); Basel Capital Rules; G-20; Amendments to the 2012 Indian Finance Bill; Regulatory Capital Requirements; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; Bankruptcy reform for municipalities; Financial Stability Oversight Council (FSOC); Support of financial literacy; Privacy and cyber security issues; Self-Regulatory Organizations (SRO) rulemaking; Municipal advisor regulation; Tax-exemption for municipal bonds.

H.R. 31-The Fannie Mae and Freddie Mac Accountability and Transparency for Taxpayers Act. The legislation enhances the authority of FHFA's Inspector General and expands reporting requirements to Congress. H.R. 463-Fannie Mae and Freddie Mac Transparency Act. Amends Fannie Mae and Freddie Mac's charters to provide that, during any period in which either entities are under conservatorship or receivership, it shall be considered an agency subject to the public information disclosure requirements of the Freedom of Information Act. H.R. 940-United States Covered Bond Act. Would establish the regulatory framework for the creation of a covered bond market for real estate securities. H.R. 1221-the Equity In Government Compensation Act. The legislation suspends the compensation packages for executives of Fannie Mae and Freddie Mac and places all other employees on the General Schedule pay scale. H.R. 1222-the GSE Subsidy Elimination Act. The legislation requires that FHFA gradually increase guarantee fees at Fannie Mae and Freddie Mac over the next two years. Under the legislation, the FHFA will consider the market conditions in raising the GSEs guarantee fees to ensure that its actions do not disrupt a housing recovery. H.R. 1223-the GSE Credit Risk Equitable Treatment Act. The legislation helps clarify the risk retention rules required under Section 941 of the Dodd-Frank Act to make clear that Fannie Mae and Freddie Mac will be held to the same standards as any other secondary mortgage market participants. H.R. 1224-the Portfolio Risk Reduction Act. The legislation accelerates and formalizes the reduction in the size of the GSEs portfolios. The legislation would cap the GSEs portfolios to no more than $700 billion in the first year, declining to $600 billion for year two, $475 billion for year three, $350 billion for year four, and finally to $250 billion in year five. H.R. 1225-the GSE Debt Issuance Approval Act. The legislation requires the Treasury Department to approve any new debt issuance by the GSEs. H.R. 1226-the GSE Mission Improvement Act. The legislation the GSEs affordable housing goals. H.R. 1227-the GSE Risk and Activities Limitation Act. The legislation prohibits the GSEs from offering, undertaking, transacting, conducting or engaging in any new business activities while in conservatorship or receivership. H.R. 1754-Preserving Equal Access to Mortgage Finance Programs Act. The legislation would make permanent the current temporary high cost loan limits for Fannie Mae, Freddie Mac, and the FHA. H.R. 1859-Housing Finance Reform Act. The legislation would reform the secondary mortgage market and the government sponsored enterprises Fannie Mae and Freddie Mac H.R. 2413- Secondary Market Facility for Residential Mortgages Act. The legislation would reform the secondary mortgage market and the government sponsored enterprises Fannie Mae and Freddie Mac. H.R. 3630/H.R. 3765-Both bills contain provisions that would raise revenue by forcing the Government Sponsored Enterprises Fannie Mae and Freddie Mac, and the Federal Housing Administration to increase their fees. S. 170/H.R. 363-Helping Responsible Homeowners Act. The Legislation would require Fannie Mae and Freddie Mac to allow homeowners with current GSE loans to refinance regardless of their current loan-to-value. S. 509-Small Business Lending Enhancement Act of 2011. The legislation Amends the Federal Credit Union Act to allow credit unions greater flexibility in their ability to make business loans. S. 693/H.R. 1182-GSE Bailout Elimination and Taxpayer Protection Act. The legislation would wind down Fannie Mae and Freddie Mac through a number of steps. C.A.R. has lobbied on the future of the government sponsored enterprises (Fannie Mae and Freddie Mac) and their future regulatory structure. C.A.R. has lobbied for the extension of the current FHA, Fannie Mae and Freddie Mac loan limits that are set to expired at the end of September. C.A.R. has lobbied on the issue of mortgage servicing and concerns regarding inefficiencies and lack of standardization. C.A.R. has lobbied on the Administration's Reforming America's Housing Finance Market proposal to Congress and its potential impact on the availability of capital to the nation's mortgage market. C.A.R. has lobbied on the Federal Housing Finance Agencies proposed rule on Private Transfer Fee covenants RIN 2590-AA41 C.A.R. has lobbied on the issue of changes to the Home Affordable Refinance Program to make the program more successful by easing qualification requirements. C.A.R. has lobbied on the Federal Housing Finance Agencys proposed Strategic Plan for Enterprise Conservatorships, released on February 21, 2012.

GSE Reform; Federal Housing Finance Reform; Homeownership and responsible lending; Fair Mortgage Practices Act; Borrower Protection; H.R. 363, Housing Opportunity and Mortgage Equity Act of 2011; H.R. 379, Community Partners Next Door Act of 2011; H.R. 627, Home Energy Loss Prevention Act; H.R. 762, Public Housing Reinvestment and Tenant Protection Act; H.R. 1131, Preventing Homeowners from Foreclosure Act of 2011; H.R. 1430, Flood Insurance Choice Act; H.R. 1453, Flood Insurance Fairness Act of 2011 H.R. 1859, Housing Finance Reform Act, S.1834, Residential Mortgage Market Privatization and Standardization Act of 2011 S.1963, Mortgage Finance Act of 2011 H.R.3644, Private Mortgage Market Investment Act Item 17 Continued: the Federal Housing Finance Agency

Client expense: $2,880,000 · Firm income: Not reported

H.R. 363 (Housing Opportunity and Mortgage Equity Act of 2011); H.R. 344 (Fiscal Responsibility Effective Enforcement Act of 2011); H.R. 463 (Fannie Mae and Freddie Mac Transparency Act of 2011); H.R. 653 (Financial Information Privacy Act of 2011); H.R. 757 (Equitable Treatment of Investors Act); H.R. 836 (Emergency Mortgage Relief Program Termination Act); H.R. 1062 (Burdensome Data Collection Relief Act); H.R. 1070 (Small Company Capital Formation Act of 2011); H.R. 1082 (Small Business Capital Access and Job Preservation Act); H.R. 1112 (National Association of Registered Agents and Brokers Reform Act of 2011); H.R. 1151 (Emergency Mortgage Relief and Neighborhood Stabilization Programs Cost Recoupment Act of 2011); H.R. 1341 (A bill to provide a point of order against consideration of any measure that would increase the statutory limit on the public debt above $14.294 trillion unless that measure has been publicly available for a full 7 calendar days before consideration on the floor of the Senate); H.R. 1438 (Regulation Moratorium and Jobs Preservation Act of 2011); H.R. 1532 (A bill to amend the Budget Control Act of 2011 to require the joint select committee of Congress to report findings and propose legislation to restore the Nation's workforce to full employment over the period of fiscal years 2012 and 2013); H.R. 1535 (Personal Data Protection and Breach Accountability Act of 2011); H.R. 1539 (Asset-Backed Market Stabilization Act of 2011); H.R. 1544 (Small Company Capital Formation Act of 2011); H.R. 1550 (National Infrastructure Bank Act of 2011); H.R. 1573 (To facilitate implementation of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, promote regulatory coordination, and avoid market disruption); H.R. 1610 (Business Risk Mitigation and Price Stabilization Act of 2011); H.R. 1838 (To repeal a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act prohibiting any Federal bailout of swap dealers or participants); H.R. 1840 (To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders); H.R. 1965 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.); H.R. 2167 (Private Company Flexibility Act); H.R. 2308 (SEC Regulatory Accountability Act); H.R. 2313 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); H.R. 2413 (Secondary Market Facility for Residential Mortgages Act of 2011); H.R. 2483 (Whistleblower Improvement Act); H.R. 2517 (Shareholder Protection Act of 2011); H.R. 2586 (Swap Execution Facility Clarification Act); H.R. 2603 (Maintaining Agency Direction on Financial Fraud Act); H.R. 2612 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the authority of the Bureau of Consumer Financial Protection to prohibit certain acts or practices); H.R. 2651 (To require that the United States Government prioritize all obligations on the debt held by the public, Social Security benefits, and military pay in the event that the debt limit is reached, and for other purposes); H.R. 2682 (Business Risk Mitigation and Price Stabilization Act); H.R. 2779 (To exempt inter-affiliate swaps from certain regulatory requirements put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act); H.R. 2827 (To amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes); H.R. 2855 (Emergency Jobs Now Act); H.R. 2930 (Entrepreneur Access to Capital Act); H.R. 2931 (Full Faith and Credit Act); H.R. 2940 (Access to Capital for Job Creators Act); H.R. 2964 (Unfunded Mandates Accountability Act); H.R. 3010 (Regulatory Accountability Act of 2011); H.R. 3078 (United States-Colombia Trade Promotion Agreement Implementation Act); H.R. 3079 (United States-Panama Trade Promotion Agreement Implementation Act); H.R. 3080 (United States-Korea Free Trade Agreement Implementation Act); H.R. 3084 (Mortgage Credit Availability Act of 2011); H.R. 3128 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to adjust the date on which consolidated assets are determined for purposes of exempting certain instruments of exempting smaller institutions from capital deductions); H.R. 3213 (Small Company Job Growth and Regulatory Relief Act of 2011); H.R. 3283 (Swap Jurisdiction Certainty Act); H.R. 3313 (Wall Street Trading and Speculators Tax Act); H.R. 3318 (Growing Jobs Through Capital Act of 2011); H.R. 3336 (Small Business Credit Availability Act); H.R. 3527 (Protecting Main Street End-Users From Excessive Regulation); H.R. 3530 (Freddie Mac Debt Reduction Act of 2011); H.R. 3606 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); H.R. 3635 (Investing in America's Small Businesses Act of 2011); H.R. 3644 (Private Mortgage Market Investment Act); H.R. 3655 (Small Business Access to Capital Act of 2011); H.R. 3665 (Wall Street Accountability through Sustainable Funding Act); H.R. 3733 (Affordable Mortgage for Homeowners Act of 2011); H. Amdt. 465 (Amendment prohibits the use of funds by the CFTC to promulgate any final rules under the Commodity Exchange Act as added by the Dodd-Frank Act until 12 months after the promulgation of final swap transaction reporting rules under the Commodity Exchange Act.); S. 23 (Patent Reform Act of 2011); S. 556 (A bill to amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1276 (To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, to rescind related appropriated amounts, and for other purposes); S. 1544 (Small Company Capital Formation Act of 2011); S. 1619 (The Currency Exchange Act); S. 1641 (A Bill to Implement the U.S.-Colombia Trade Promotion Agreement); S. 1642 (A Bill to Implement the U.S.-Korea Trade Promotion Agreement); S. 1643 (A Bill to Implement the U.S.-Panama Trade Promotion Agreement); S. 1650 (Dodd-Frank Improvement Act of 2011); S. 1787 (Wall Street Trading and Speculators Tax Act); S. 1791 (Democratizing Access to Capital Act of 2011); S. 1824 (Private Company Flexibility and Growth Act); S. 1831 (Access to Capital for Job Creators Act); S. 1835 (United States Covered Bond Act); S. 1907 (PCAOB Enforcement Transparency Act of 2011); S. 1933 (Reopening American Capital Markets to Emerging Growth Companies Act of 2011); S. 1941 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes); S. 1962 (Startup Expansion and Investment Act); S. 1963 (Mortgage Finance Act of 2011); S. 1970 (CROWDFUND Act); S. 1975 (No More IMF Bailouts Act); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Resolution Authority for Systemically Significant Financial Companies Act of 2009; China - strategic and economic dialogue; Market Structure Issues (dark pools, flash quotes, high frequency trading); Transatlantic Economic Council (Trade Issues); Preservation of independent contractor status for financial services sector; Asian Pacific Economic Council Privacy Issues; Bilateral Investment Treaties, India; Transpacific Partnership; U.S./EU cross-border regulatory issues; India Market Access Issues, Response to Royal Bank of India discussion; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; EU Alternative Investment Fund Managers Proposal (AIFM); Basel Capital Rules; G-20; Regulatory Capital Requirements; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; Bankruptcy reform for municipalities; Financial Stability Oversight Council (FSOC); Support of financial literacy; Privacy and cyber security issues; Self-Regulatory Organizations (SRO) rulemaking; Municipal advisor regulation; Tax-exemption for municipal bonds.

GSE Reform; Federal Housing Finance Reform; Homeownership and responsible lending; Fair Mortgage Practices Act; Borrower Protection; H.R. 363, Housing Opportunity and Mortgage Equity Act of 2011; H.R. 379, Community Partners Next Door Act of 2011; H.R. 627, Home Energy Loss Prevention Act; H.R. 762, Public Housing Reinvestment and Tenant Protection Act; H.R. 1131, Preventing Homeowners from Foreclosure Act of 2011; H.R. 1430, Flood Insurance Choice Act; H.R. 1453, Flood Insurance Fairness Act of 2011 FSR lobbyists have had communications with Consumer Finance Protection Bureau on this issue.

Client expense: $1,780,000 · Firm income: Not reported

GSE Reform; Federal Housing Finance Reform; Homeownership and responsible lending; Fair Mortgage Practices Act; Borrower Protection; H.R. 363, Housing Opportunity and Mortgage Equity Act of 2011; H.R. 379, Community Partners Next Door Act of 2011; H.R. 627, Home Energy Loss Prevention Act; H.R. 762, Public Housing Reinvestment and Tenant Protection Act; H.R. 1131, Preventing Homeowners from Foreclosure Act of 2011; H.R. 1430, Flood Insurance Choice Act; H.R. 1453, Flood Insurance Fairness Act of 2011

Client expense: $1,780,000 · Firm income: Not reported

H.R. 31-The Fannie Mae and Freddie Mac Accountability and Transparency for Taxpayers Act. The legislation enhances the authority of FHFA's Inspector General and expands reporting requirements to Congress. H.R. 463-Fannie Mae and Freddie Mac Transparency Act. Amends Fannie Mae and Freddie Mac's charters to provide that, during any period in which either entities are under conservatorship or receivership, it shall be considered an agency subject to the public information disclosure requirements of the Freedom of Information Act. H.R. 940-United States Covered Bond Act. Would establish the regulatory framework for the creation of a covered bond market for real estate securities. H.R. 1221-the Equity In Government Compensation Act. The legislation suspends the compensation packages for executives of Fannie Mae and Freddie Mac and places all other employees on the General Schedule pay scale. H.R. 1222-the GSE Subsidy Elimination Act. The legislation requires that FHFA gradually increase guarantee fees at Fannie Mae and Freddie Mac over the next two years. Under the legislation, the FHFA will consider the market conditions in raising the GSEs guarantee fees to ensure that its actions do not disrupt a housing recovery. H.R. 1223-the GSE Credit Risk Equitable Treatment Act. The legislation helps clarify the risk retention rules required under Section 941 of the Dodd-Frank Act to make clear that Fannie Mae and Freddie Mac will be held to the same standards as any other secondary mortgage market participants. H.R. 1224-the Portfolio Risk Reduction Act. The legislation accelerates and formalizes the reduction in the size of the GSEs portfolios. The legislation would cap the GSEs portfolios to no more than $700 billion in the first year, declining to $600 billion for year two, $475 billion for year three, $350 billion for year four, and finally to $250 billion in year five. H.R. 1225-the GSE Debt Issuance Approval Act. The legislation requires the Treasury Department to approve any new debt issuance by the GSEs. H.R. 1226-the GSE Mission Improvement Act. The legislation the GSEs affordable housing goals. H.R. 1227-the GSE Risk and Activities Limitation Act. The legislation prohibits the GSEs from offering, undertaking, transacting, conducting or engaging in any new business activities while in conservatorship or receivership. H.R. 1754-Preserving Equal Access to Mortgage Finance Programs Act. The legislation would make permanent the current temporary high cost loan limits for Fannie Mae, Freddie Mac, and the FHA. H.R. 1859-Housing Finance Reform Act. The legislation would reform the secondary mortgage market and the government sponsored enterprises Fannie Mae and Freddie Mac H.R. 2413- Secondary Market Facility for Residential Mortgages Act. The legislation would reform the secondary mortgage market and the government sponsored enterprises Fannie Mae and Freddie Mac. H.R. 3630/H.R. 3765-Both bills contain provisions that would raise revenue by forcing the Government Sponsored Enterprises Fannie Mae and Freddie Mac, and the Federal Housing Administration to increase their fees. S. 170/H.R. 363-Helping Responsible Homeowners Act. The Legislation would require Fannie Mae and Freddie Mac to allow homeowners with current GSE loans to refinance regardless of their current loan-to-value. S. 509-Small Business Lending Enhancement Act of 2011. The legislation Amends the Federal Credit Union Act to allow credit unions greater flexibility in their ability to make business loans. S. 693/H.R. 1182-GSE Bailout Elimination and Taxpayer Protection Act. The legislation would wind down Fannie Mae and Freddie Mac through a number of steps. C.A.R. has lobbied on the future of the government sponsored enterprises (Fannie Mae and Freddie Mac) and their future regulatory structure. C.A.R. has lobbied for the extension of the current FHA, Fannie Mae and Freddie Mac loan limits that are set to expired at the end of September. C.A.R. has lobbied on the issue of mortgage servicing and concerns regarding inefficiencies and lack of standardization. C.A.R. has lobbied on the Administration's Reforming America's Housing Finance Market proposal to Congress and its potential impact on the availability of capital to the nation's mortgage market. C.A.R. has lobbied on the Federal Housing Finance Agencies proposed rule on Private Transfer Fee covenants RIN 2590-AA41 C.A.R. has lobbied on the issue of changes to the Home Affordable Refinance Program to make the program more successful by easing qualification requirements.

H.R. 363 (Housing Opportunity and Mortgage Equity Act of 2011); H.R. 344 (Fiscal Responsibility Effective Enforcement Act of 2011); H.R. 463 (Fannie Mae and Freddie Mac Transparency Act of 2011); H.R. 653 (Financial Information Privacy Act of 2011); H.R. 757 (Equitable Treatment of Investors Act); H.R. 836 (Emergency Mortgage Relief Program Termination Act); H.R. 1062 (Burdensome Data Collection Relief Act); H.R. 1070 (Small Company Capital Formation Act of 2011); H.R. 1082 (Small Business Capital Access and Job Preservation Act); H.R. 1112 (National Association of Registered Agents and Brokers Reform Act of 2011); H.R. 1151 (Emergency Mortgage Relief and Neighborhood Stabilization Programs Cost Recoupment Act of 2011); H.R. 1341 (A bill to provide a point of order against consideration of any measure that would increase the statutory limit on the public debt above $14.294 trillion unless that measure has been publicly available for a full 7 calendar days before consideration on the floor of the Senate); H.R. 1438 (Regulation Moratorium and Jobs Preservation Act of 2011); H.R. 1532 (A bill to amend the Budget Control Act of 2011 to require the joint select committee of Congress to report findings and propose legislation to restore the Nation's workforce to full employment over the period of fiscal years 2012 and 2013); H.R. 1535 (Personal Data Protection and Breach Accountability Act of 2011); H.R. 1539 (Asset-Backed Market Stabilization Act of 2011); H.R. 1544 (Small Company Capital Formation Act of 2011); H.R. 1550 (National Infrastructure Bank Act of 2011); H.R. 1573 (To facilitate implementation of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, promote regulatory coordination, and avoid market disruption); H.R. 1610 (Business Risk Mitigation and Price Stabilization Act of 2011); H.R. 1965 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.); H.R. 2167 (Private Company Flexibility Act); H.R. 2483 (Whistleblower Improvement Act); H.R. 2517 (Shareholder Protection Act of 2011); H.R. 2586 (Swap Execution Facility Clarification Act); H.R. 2603 (Maintaining Agency Direction on Financial Fraud Act); H.R. 2612 (To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the authority of the Bureau of Consumer Financial Protection to prohibit certain acts or practices); H.R. 2651 (To require that the United States Government prioritize all obligations on the debt held by the public, Social Security benefits, and military pay in the event that the debt limit is reached, and for other purposes); H.R. 2682 (Business Risk Mitigation and Price Stabilization Act); H.R. 2827 (To amend the Securities Exchange Act of 1934 to clarify provisions relating to the regulation of municipal advisors, and for other purposes); H.R. 2855 (Emergency Jobs Now Act); H.R. 2930 (Entrepreneur Access to Capital Act); H.R. 2931 (Full Faith and Credit Act); H.R. 2940 (Access to Capital for Job Creators Act); H.R. 2964 (Unfunded Mandates Accountability Act); H. Amdt. 465 (Amendment prohibits the use of funds by the CFTC to promulgate any final rules under the Commodity Exchange Act as added by the Dodd-Frank Act until 12 months after the promulgation of final swap transaction reporting rules under the Commodity Exchange Act.); S. 23 (Patent Reform Act of 2011); S. 1619 (The Currency Exchange Act); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Resolution Authority for Systemically Significant Financial Companies Act of 2009; China - strategic and economic dialogue; Market Structure Issues (dark pools, flash quotes, high frequency trading); Transatlantic Economic Council (Trade Issues); Preservation of independent contractor status for financial services sector; Asian Pacific Economic Council Privacy Issues; Bilateral Investment Treaties, India; Free trade agreements (Columbia; Panama; South Korea); Transpacific Partnership; U.S./EU cross-border regulatory issues; India Market Access Issues, Response to Royal Bank of India discussion; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; EU Alternative Investment Fund Managers Proposal (AIFM); Basel Capital Rules; G-20; Regulatory Capital Requirements; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; Bankruptcy reform for municipalities; Financial Stability Oversight Council (FSOC); Support of financial literacy; Privacy and cyber security issues; Self-Regulatory Organizations (SRO) rulemaking; Municipal advisor regulation; Tax-exemption for municipal bonds.

GSE Reform; Federal Housing Finance Reform; Homeownership and responsible lending; Fair Mortgage Practices Act; Borrower Protection; S. 317 Affordable Housing Preservation Act, S. 488 Reduce Excessive Interest Payments Act, S.489 Preserving Homes and Communities Act of 2011, S. 527 HAMP Termination Act of 2011, S.690 Homeowner Advocate Act of 2011, S.824 Foreclosure Fraud and Homeowner Abuse Prevention Act of 2011, S.967 Regulation of Mortgage Servicing Act of 201 H.R. 363, Housing Opportunity and Mortgage Equity Act of 2011; H.R. 379, Community Partners Next Door Act of 2011; H.R. 627, Home Energy Loss Prevention Act; H.R. 762, Public Housing Reinvestment and Tenant Protection Act; H.R. 1131, Preventing Homeowners from Foreclosure Act of 2011; H.R. 1430, Flood Insurance Choice Act; H.R. 1453, Flood Insurance Fairness Act of 2011;

Client expense: $1,860,000 · Firm income: Not reported

H.R. 31-The Fannie Mae and Freddie Mac Accountability and Transparency for Taxpayers Act. The legislation enhances the authority of FHFA's Inspector General and expands reporting requirements to Congress. H.R. 463-Fannie Mae and Freddie Mac Transparency Act. Amends Fannie Mae and Freddie Mac's charters to provide that, during any period in which either entities are under conservatorship or receivership, it shall be considered an agency subject to the public information disclosure requirements of the Freedom of Information Act. H.R. 940-United States Covered Bond Act. Would establish the regulatory framework for the creation of a covered bond market for real estate securities. H.R. 1221-the Equity In Government Compensation Act. The legislation suspends the compensation packages for executives of Fannie Mae and Freddie Mac and places all other employees on the General Schedule pay scale. H.R. 1222-the GSE Subsidy Elimination Act. The legislation requires that FHFA gradually increase guarantee fees at Fannie Mae and Freddie Mac over the next two years. Under the legislation, the FHFA will consider the market conditions in raising the GSEs guarantee fees to ensure that its actions do not disrupt a housing recovery. H.R. 1223-the GSE Credit Risk Equitable Treatment Act. The legislation helps clarify the risk retention rules required under Section 941 of the Dodd-Frank Act to make clear that Fannie Mae and Freddie Mac will be held to the same standards as any other secondary mortgage market participants. H.R. 1224-the Portfolio Risk Reduction Act. The legislation accelerates and formalizes the reduction in the size of the GSEs portfolios. The legislation would cap the GSEs portfolios to no more than $700 billion in the first year, declining to $600 billion for year two, $475 billion for year three, $350 billion for year four, and finally to $250 billion in year five. H.R. 1225-the GSE Debt Issuance Approval Act. The legislation requires the Treasury Department to approve any new debt issuance by the GSEs. H.R. 1226-the GSE Mission Improvement Act. The legislation the GSEs affordable housing goals. H.R. 1227-the GSE Risk and Activities Limitation Act. The legislation prohibits the GSEs from offering, undertaking, transacting, conducting or engaging in any new business activities while in conservatorship or receivership. H.R. 1754-Preserving Equal Access to Mortgage Finance Programs Act. The legislation would make permanent the current temporary high cost loan limits for Fannie Mae, Freddie Mac, and the FHA. H.R. 1859-Housing Finance Reform Act. The legislation would reform the secondary mortgage market and the government sponsored enterprises Fannie Mae and Freddie Mac H.R. 2413- Secondary Market Facility for Residential Mortgages Act. The legislation would reform the secondary mortgage market and the government sponsored enterprises Fannie Mae and Freddie Mac. S. 170/H.R. 363-Helping Responsible Homeowners Act. The Legislation would require Fannie Mae and Freddie Mac to allow homeowners with current GSE loans to refinance regardless of their current loan-to-value. S. 509-Small Business Lending Enhancement Act of 2011. The legislation Amends the Federal Credit Union Act to allow credit unions greater flexibility in their ability to make business loans. S. 693/H.R. 1182-GSE Bailout Elimination and Taxpayer Protection Act. The legislation would wind down Fannie Mae and Freddie Mac through a number of steps. C.A.R. has lobbied on the future of the government sponsored enterprises (Fannie Mae and Freddie Mac) and their future regulatory structure. C.A.R. has lobbied for the extension of the current FHA, Fannie Mae and Freddie Mac loan limits that are set to expired at the end of September. C.A.R. has lobbied on the issue of mortgage servicing and concerns regarding inefficiencies and lack of standardization. C.A.R. has lobbied on the Administration's Reforming America's Housing Finance Market proposal to Congress and its potential impact on the availability of capital to the nation's mortgage market. C.A.R. has lobbied on the Federal Housing Finance Agencies proposed rule on Private Transfer Fee covenants RIN 2590-AA41

GSE Reform; Federal Housing Finance Reform; Homeownership and responsible lending; Fair Mortgage Practices Act; Borrower Protection; S. 317 Affordable Housing Preservation Act, S. 488 Reduce Excessive Interest Payments Act, S.489 Preserving Homes and Communities Act of 2011, S. 527 HAMP Termination Act of 2011, S.690 Homeowner Advocate Act of 2011, S.824 Forcelosure Fraud and Homeowner Abuse Prevention Act of 2011, S.967 Regulation of Mortgage Servicing Act of 201 H.R. 363 Housing Opportunity and Mortgage Equity Act of 2011 H.R. 379 Community Partners Next Door Act of 2011 H.R. 627 Home Energy Loss Prevention Act H.R. 762 Public Housing Reinvestment and Tenant Protection Act H.R. 1131 Preventing Homeowners from Foreclosure Act of 2011 H.R. 1430 Flood Insurance Choice Act H.R. 1453 Flood Insurance Fairness Act of 2011

Client expense: $1,580,000 · Firm income: Not reported

H.R. 363 (Housing Opportunity and Mortgage Equity Act of 2011); H.R. 344 (Fiscal Responsibility Effective Enforcement Act of 2011); H.R. 463 (Fannie Mae and Freddie Mac Transparency Act of 2011); H.R. 653 (Financial Information Privacy Act of 2011); H.R. 757 (Equitable Treatment of Investors Act); H.R. 836 (Emergency Mortgage Relief Program Termination Act); H.R. 1062 (Burdensome Data Collection Relief Act); H.R. 1070 (Small Company Capital Formation Act of 2011); H.R. 1082 (Small Business Capital Access and Job Preservation Act); H.R. 1112 (National Association of Registered Agents and Brokers Reform Act of 2011); H.R. 1151 (Emergency Mortgage Relief and Neighborhood Stabilization Programs Cost Recoupment Act of 2011); H.R. 1539 (Asset-Backed Market Stabilization Act of 2011); H.R. 1573 (To facilitate implementation of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, promote regulatory coordination, and avoid market disruption); H.R. 1610 (Business Risk Mitigation and Price Stabilization Act of 2011); H.R. 1965 (To amend the securities laws to establish certain thresholds for shareholder registration, and for other purposes.); H.R. 2517 (Shareholder Protection Act of 2011); H. Amdt. 465 (Amendment prohibits the use of funds by the CFTC to promulgate any final rules under the Commodity Exchange Act as added by the Dodd-Frank Act until 12 months after the promulgation of final swap transaction reporting rules under the Commodity Exchange Act.); S. 23 (Patent Reform Act of 2011); S. 694 (Fairness and Independence in Redistricting Act); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Section 913; Section 914; Systemic risk regulation and liquidation authority; Section 342 (Office of Minority and Women Inclusion); Systemic Risk Regulation and liquidation authority; Governmental Accounting Standards Board (GASB) Funding (Regulatory Capital Requirements, systemic risk regulation and liquidation authority); Resolution Authority for Systemically Significant Financial Companies Act of 2009; China - strategic and economic dialogue; Market Structure Issues (dark pools, flash quotes, high frequency trading); Transatlantic Economic Council (Trade Issues); Preservation of independent contractor status for financial services sector; Bilateral Investment Treaties, India; Asian Pacific Economic Council Privacy Issues; Free trade agreements (Columbia; Panama; South Korea); Transpacific Partnership; U.S./EU cross-border regulatory issues; India Market Access Issues, Response to Royal Bank of India discussion; European Union proposal regarding Credit Default Swaps and Credit Rating Agencies and their impact on US Markets; EU Alternative Investment Fund Managers Proposal (AIFM); Basel Capital Rules; G-20; Regulatory Capital Requirements; Accounting standards for municipalities; Securities Investor Protection Corporation (SIPC) reform and funding fees; Financial Stability Board Outreach; Establishment of the Office of Financial Research; Bankruptcy reform for municipalities; Financial Stability Oversight Council (FSOC); Support of financial literacy; Privacy and cyber security issues; Self-Regulatory Organizations (SRO) rulemaking.

H.R. 31-The Fannie Mae and Freddie Mac Accountability and Transparency for Taxpayers Act. The legislation enhances the authority of FHFA's Inspector General and expands reporting requirements to Congress. H.R. 463-Fannie Mae and Freddie Mac Transparency Act. Amends Fannie Mae and Freddie Mac's charters to provide that, during any period in which either entities are under conservatorship or receivership, it shall be considered an agency subject to the public information disclosure requirements of the Freedom of Information Act. H.R. 940-United States Covered Bond Act. Would establish the regulatory framework for the creation of a covered bond market for real estate securities. H.R. 1221-the Equity In Government Compensation Act. The legislation suspends the compensation packages for executives of Fannie Mae and Freddie Mac and places all other employees on the General Schedule pay scale. H.R. 1222-the GSE Subsidy Elimination Act. The legislation requires that FHFA gradually increase guarantee fees at Fannie Mae and Freddie Mac over the next two years. Under the legislation, the FHFA will consider the market conditions in raising the GSEs guarantee fees to ensure that its actions do not disrupt a housing recovery. H.R. 1223-the GSE Credit Risk Equitable Treatment Act. The legislation helps clarify the risk retention rules required under Section 941 of the Dodd-Frank Act to make clear that Fannie Mae and Freddie Mac will be held to the same standards as any other secondary mortgage market participants. H.R. 1224-the Portfolio Risk Reduction Act. The legislation accelerates and formalizes the reduction in the size of the GSEs portfolios. The legislation would cap the GSEs portfolios to no more than $700 billion in the first year, declining to $600 billion for year two, $475 billion for year three, $350 billion for year four, and finally to $250 billion in year five. H.R. 1225-the GSE Debt Issuance Approval Act. The legislation requires the Treasury Department to approve any new debt issuance by the GSEs. H.R. 1226-the GSE Mission Improvement Act. The legislation the GSEs affordable housing goals. H.R. 1227-the GSE Risk and Activities Limitation Act. The legislation prohibits the GSEs from offering, undertaking, transacting, conducting or engaging in any new business activities while in conservatorship or receivership. H.R. 1754-Preserving Equal Access to Mortgage Finance Programs Act. The legislation would make permanent the current temporary high cost loan limits for Fannie Mae, Freddie Mac, and the FHA. S. 170/H.R. 363-Helping Responsible Homeowners Act. The Legislation would require Fannie Mae and Freddie Mac to allow homeowners with current GSE loans to refinance regardless of their current loan-to-value. S. 509-Small Business Lending Enhancement Act of 2011. The legislation Amends the Federal Credit Union Act to allow credit unions greater flexibility in their ability to make business loans. S. 693/H.R. 1182-GSE Bailout Elimination and Taxpayer Protection Act. The legislation would wind down Fannie Mae and Freddie Mac through a number of steps. C.A.R. has lobbied on the future of the government sponsored enterprises (Fannie Mae and Freddie Mac) and their future regulatory structure. C.A.R. has lobbied for the extension of the current FHA, Fannie Mae and Freddie Mac loan limits that are set to expire at the end of this year. C.A.R. has lobbied on the issue of mortgage servicing and concerns regarding inefficiencies and lack of standardization. C.A.R. has lobbied on the Administration's Reforming America's Housing Finance Market proposal to Congress and its potential impact on the availability of capital to the nation's mortgage market. C.A.R. has lobbied on the Federal Housing Finance Agencies proposed rule on Private Transfer Fee covenants RIN 2590-AA41