1. Survey Of 18 Congressional Districts June 17-20, 2013

2. The following survey was conducted by OnMessage Inc within 18 congressional districts. Telephone interviews were conducted June 17-20, 2013. This survey consists of 1200 likely voters. Interviews were stratified by previous election results to reflect historic voter trends. The margin of error for this survey is +/- 2.82%. 2 Methodology

3. On Message Inc. conducted a survey for American Action Forum of 18 congressional districts across the United States, investigating various regulatory reform measures for the financial services industry currently being discussed in Congress. These districts were broken into three groups to gain an understanding of the views of different parts of the population. The groupings were as follows: conservative districts ( PVI from R+6 to R+10), districts held by Republicans where Romney garnered less than 47% (R in D seats PVI from D+1 to D+3), and pure swing districts (PVI from D+1 to R+1). 3 Methodology

4. Fannie Mae & Freddie Mac

5. 5 Image Test Fannie Mae/Freddie Mac Very Fav Somewhat Fav Somewhat Unfav Very Unfav Never Heard Of No Opinion 15 255 317 35 -100 -80 -60 -40 -20 0 20 40 60 52 20 Net: -32

6. 6 Fannie Mae & Freddie Mac Area 0 10 20 30 40 50 60 70 80 90 100 Conservative District Rep In Dem Seat Swing Districts 19 21 20 52 52 53 Fav Unfav

7. 7 Fannie Mae & Freddie Mac Party 0 10 20 30 40 50 60 70 80 90 100 Dem Ind Rep 29 15 15 41 56 61 Fav Unfav

8. 8 Are you familiar with the institutions known as Fannie Mae and Freddie Mac? Would you say you are 0 10 20 30 40 50 60 70 80 90 100 Familiar Unfamiliar DK/R 22 12 2 54 11 Somewhat Very / Not At All 76 23

9. 9 0 10 20 30 40 50 60 70 80 90 100 Favor Oppose DK/R 30 17 16 22 15 Somewhat Strongly As you may know, Fannie Mae and Freddie Mac are government sponsored enterprises that buy mortgages from banks which then allow banks to make more loans to families across the country. They are backed with taxpayer dollars and were designed to make home mortgages accessible to more Americans. Fannie Mae and Freddie Mac were in the middle of the housing market collapse. One reform being discussed in Congress is to get the federal government out of the home loan guarantee business by slowly phasing out both Fannie Mae and Freddie Mac. Knowing this, do you favor or oppose phasing out Fannie Mae and Freddie Mac? 52 32

10. 10 Phase Out Fannie and Freddie Area 0 10 20 30 40 50 60 70 80 90 100 Conservative District Rep In Dem Seat Swing Districts 53 47 55 29 38 30 18 15 15 Favor Oppose DK/R

11. 11 Phase Out Fannie and Freddie Party 39 52 64 43 29 24 18 19 12 0 10 20 30 40 50 60 70 80 90 100 Dem Ind Rep Favor Oppose DK/R

12. 12 0 10 20 30 40 50 60 70 80 90 100 Favor Oppose DK/R 10 39 16 15 20 Somewhat Strongly As you may know, during the recent financial crisis, Fannie Mae and Freddie Mac were instrumental in causing the housing bubble that led to the collapse of the housing market. This bubble was caused when Fannie Mae and Freddie Mac insured home loans that were not sustainable and never should have been approved in the first place. As a result of the collapse, the federal government had to bailout Fannie Mae and Freddie Mac costing taxpayers nearly $200 billion dollars. Knowing this, do you favor or oppose Fannie Mae and Freddie Mac? 25 59

13. 13 Favor Or Oppose Fannie and Freddie Area 0 10 20 30 40 50 60 70 80 90 100 Conservative District Rep In Dem Seat Swing Districts 26 25 22 58 59 62 16 16 16 Favor Oppose DK/R

14. 14 Favor Or Oppose Fannie and Freddie Party 0 10 20 30 40 50 60 70 80 90 100 Dem Ind Rep 32 22 19 51 59 68 17 19 13 Favor Oppose DK/R

15. 11 11 10 9 9 10 13 15 13 15 14 14 23 19 19 16 18 18 33 35 35 41 38 35 100 50 50 100 The American dream is to own a home that you can keep. Our governments goal should be to maintain sustainable home ownership and taxpayers should not have to bailout Fannie Mae and Freddie Mac because they guaranteed home loans to people You do not help families achieve the American dream by putting them into homes they cannot afford, which is exactly what Fannie Mae and Freddie Mac have done for decades. Fannie Mae and Freddie Mac were responsible for inflicting damage on our housing market and received the largest bailouts in the country. Now is the time to phase out these organizations before they do even more harm to our economy. While the taxpayers were bailing them out, Fannie Mae and Freddie Mac were committing accounting fraud while their executives were receiving millions of dollars in bonuses Fannie Mae and Freddie Mac have required massive taxpayer bailouts and should be phased out because homeowners who are struggling to pay their own mortgage shouldnt be forced to pay for their neighbors mortgage too. Fannie Mae and Freddie Mac hold immense power over the home mortgage industry. As a result, Washington elites have more say than your local bank over whether or not you get a home mortgage. 15 Now Id like to read you a few statements about phasing out Fannie Mae and Freddie Mac. For each one please tell me whether it makes you more or less likely to support the phase out of Fannie Mae and Freddie Mac? LESS LIKELY MORE LIKELY NET Much Less Somewhat Less Somewhat More Much More 53 56 57 54 54 56 24 23 24 23 26 24 +29 +33 +33 +31 +28 +32

16. 13 11 10 10 9 10 12 16 15 16 15 15 20 20 18 16 17 17 34 33 37 40 38 36 100 50 50 100 The American dream is to own a home that you can keep. Our governments goal should be to maintain sustainable home ownership and taxpayers should not have to bailout Fannie Mae and Freddie Mac because they guaranteed home loans to people You do not help families achieve the American dream by putting them into homes they cannot afford, which is exactly what Fannie Mae and Freddie Mac have done for decades. Fannie Mae and Freddie Mac were responsible for inflicting damage on our housing market and received the largest bailouts in the country. Now is the time to phase out these organizations before they do even more harm to our economy. While the taxpayers were bailing them out, Fannie Mae and Freddie Mac were committing accounting fraud while their executives were receiving millions of dollars in bonuses Fannie Mae and Freddie Mac have required massive taxpayer bailouts and should be phased out because homeowners who are struggling to pay their own mortgage shouldnt be forced to pay for their neighbors mortgage too. Fannie Mae and Freddie Mac hold immense power over the home mortgage industry. As a result, Washington elites have more say than your local bank over whether or not you get a home mortgage. 16 Swing Districts: Now Id like to read you a few statements about phasing out Fannie Mae and Freddie Mac. For each one please tell me whether it makes you more or less likely to support the phase out of Fannie Mae and Freddie Mac? LESS LIKELY MORE LIKELY NET Much Less Somewhat Less Somewhat More Much More 53 55 56 55 53 54 25 24 26 25 27 25 +28 +31 +30 +30 +26 +29

17. 18 15 16 21 25 20 14 12 14 19 17 19 100 50 50 100 If Fannie Mae and Freddie Mac are eliminated, middle class and lower income families will no longer be able to get a 30 year fixed mortgage. If Fannie Mae and Freddie Mac are eliminated only the rich will be able to buy a home. Our housing market is too fragile to eliminate Fannie Mae and Freddie Mac. 17 Now Id like to read you a few statements AGAINST phasing out Fannie Mae and Freddie Mac. For each one please tell me whether it makes you more or less likely to support the phase out of Fannie Mae and Freddie Mac? NET 33 29 33 36 40 39 -3 -11 -6 LESS LIKELY MORE LIKELY Much Less Somewhat Less Somewhat More Much More

18. 16 15 17 20 25 19 14 12 13 21 17 19 100 50 50 100 If Fannie Mae and Freddie Mac are eliminated, middle class and lower income families will no longer be able to get a 30 year fixed mortgage. If Fannie Mae and Freddie Mac are eliminated only the rich will be able to buy a home. Our housing market is too fragile to eliminate Fannie Mae and Freddie Mac. 18 Swing Districts: Now Id like to read you a few statements AGAINST phasing out Fannie Mae and Freddie Mac. For each one please tell me whether it makes you more or less likely to support the phase out of Fannie Mae and Freddie Mac? NET LESS LIKELY MORE LIKELY Much Less Somewhat Less Somewhat More Much More 32 29 35 36 40 36 -4 -11 -1

19. 19 Now Id like to read to you a few opposing arguments people are making about homeownership in America. For each one please tell me which argument comes closest to your opinion. Some people say Fannie Mae and Freddie Mac should be shut down because they are corrupt. Federal investigators found executives committed fraud and manipulated records to maximize their bonuses, while taxpayers were forced to spend nearly $200 billion dollars to bail them out. 0 20 40 60 80 100 Be Shut Down Should Not End Both Neither DK/R 51 30 4 4 12 Other people say Congress should not end Fannie Mae and Freddie Mac because the companies can be reformed and without them homes will be more expensive because middle class families could have trouble getting a 30- year fixed mortgage.

20. 20 Be Shut Down vs. Should Not End Area 0 10 20 30 40 50 60 70 80 90 100 Conservative District Rep In Dem Seat Swing Districts 50 51 52 32 30 27 5 3 33 5 4 11 11 14 Be Shut Down Should Not End Both Neither DK/R

21. 21 Now Id like to read to you a few opposing arguments people are making about homeownership in America. For each one please tell me which argument comes closest to your opinion. Some people say homeowners already have access to 30 year fixed rate mortgages without Fannie Mae and Freddie Mac. They say Fannie Mae and Freddie Mac should be phased out because all they do is use their government monopoly to buy and resell mortgages in order to subsidize banks, Wall Street, and foreign investors. 0 20 40 60 80 100 Phase Out No 30yr Fixed Rate Both Neither DK/R 49 28 4 5 14 Other people say eliminating Fannie Mae and Freddie Mac will mean middle and low income borrowers will no longer have the ability to take out a 30 year fixed rate mortgage.

22. 22 Now Id like to read to you a few opposing arguments people are making about homeownership in America. For each one please tell me which argument comes closest to your opinion. Some people say that Washington has too much control over housing and that mortgages should function without taxpayer funded support. They say too much Washington control gave us the Dodd-Frank act, which may cause mortgage rates to double, and that getting the government out of housing finance will allow for loan variety instead of a government one-size-fits-all mortgage. 0 20 40 60 80 100 Too Much Control Promote Ownership Both Neither DK/R 50 27 4 5 15 Other people say it is the role of government to promote homeownership, and Fannie Mae and Freddie Mac are needed to keep the American dream of owning a home within reach.

23. 23 Now Id like to read to you a few opposing arguments people are making about homeownership in America. For each one please tell me which argument comes closest to your opinion. Some people say Fannie Mae and Freddie Mac should be phased out over time to ensure that taxpayers are never on the hook for another bailout. They say irresponsible mortgage lending led to the financial crisis and without addressing the role that Fannie Mae and Freddie Mac played, we are again making taxpayers and our economy vulnerable to another housing crisis. 0 20 40 60 80 100 Phase Out Cannot Eliminate Both Neither DK/R 48 31 4 4 12 Other people say we cannot eliminate Fannie Mae and Freddie Mac because the housing market is too fragile and we are still recovering from the housing collapse.

24. Wall St. & Banking Industry

25. 25 Thinking about Wall Street and the banking industry, which of the following would you say is your greatest concern? 0 10 20 30 40 50 60 70 80 90 100 It is too difficult to get a loan or credit. There is no accountability of banks and Wall Street. Wall Street banks are so big that if they fail the taxpayers would bail them out again. The banking industry could collapse again and devastate the economy. All Of The Above None Of The Above DK/R 12 30 22 20 4 7 6

26. 26 Greatest Concern Area 0 20 40 60 80 100 Conservative District Rep In Dem Seat Swing Districts 13 14 10 24 33 32 23 20 2224 19 18 It is too difficult to get a loan or credit. There is no accountability of banks and Wall Street. Wall Street banks are so big that if they fail the taxpayers would bail them out again. The banking industry could collapse again and devastate the economy.

27. 27 0 10 20 30 40 50 60 70 80 90 100 Agree Disagree DK/R 27 10 15 33 15 Somewhat Strongly Please tell me if you agree or disagree with the following statement? Even though the economy has improved, it is still difficult to obtain a mortgage, small business or auto loan. 60 25

28. 28 As you may know, in the wake of the last recession, Congress passed a number of reforms regulating the banking industry. Knowing this, please tell me which argument comes closest to your opinion? Some people say that these reforms have done more harm than good because they favored big national banks while making things more difficult for smaller local banks. 0 20 40 60 80 100 More Harm Than Good Been Helpful Both Neither DK/R 38 41 5 4 12 Other people say that these reforms have been helpful because they forced banks of every size to make better loan decisions and avoid taking unnecessary risks.