Biography of Emily A. Youssouf Emily A.

Youssouf is a veteran in the fields of finance and housing, with an extensive background of more than 30 years of leadership positions and strong results in the private and public sectors. Her background encompasses a wide breadth of experience with complex financial instruments as well as turnarounds of troubled organizations. Ms. Youssouf is currently a Clinical Professor at NYUs Schack Institute of Real Estate, a masters program in real estate where she teaches courses in Real Estate Capital Markets, Affordable Housing Finance and is the curriculum coordinator for the finance track. She is also consulting; her clients have included the Rockefeller Foundation, the New York City Partnership, Washington Square Partners and Metropolitan Community Partners. Previously Ms. Youssouf was a Managing Director at JP Morgan Securities where she was head of the Housing Finance Department. In 2003, Ms. Youssouf was appointed President of the New York City Housing Development Corporation (HDC) by Mayor Michael R. Bloomberg. She brought to HDC an extensive investment banking background in housing finance, loan securitization, and structuring innovative financing strategies. Under her direction, HDC was turned around from a troubled public benefit corporation to become the number one issuer of multi-family affordable housing bonds in the country for 2004 through 2007. During Ms. Youssoufs tenure, HDC issued $7 billion in bonds, financed 37,000 units of affordable housing in NYC and total assets increased from $2.3 billion to $9 billion. She successfully restructured the corporation, established a risk committee, and a credit department; and greatly improved the organizations governance by strengthening its board involvement. Prior to joining HDC, Ms. Youssouf served as the President of Natlis Settlements, LLC, a specialty finance company, where she sourced institutional financing alternatives and led the company in achieving an A-rating on an innovative financing structure from a major rating agency. Before joining Natlis, Ms. Youssouf held various senior positions over a 25 year period at Credit Suisse First Boston, Prudential Securities and Merrill Lynch. Her responsibilities covered a wide range of companies and asset classes including securitization of residential and commercial mortgages, auto loans, and airplane leases to investing firms money into principal transactions. During her tenure at Merrill Lynch, she was a Managing Director in the Housing Finance Department where she was responsible for securing and syndicating mortgage and asset backed securities. Ms. Youssouf began her financial services career at Standard & Poors where she was Vice President of the Tax-Exempt Housing Finance Group, specializing in tax-exempt bond finance for both multi and single family housing. She also developed S&P rating criteria for Section 8 Housing Bonds and for single-family Mortgage Revenue Bonds. Ms. Youssouf is a member of several civic and charitable boards including those of the Citizens Budget Commission; the Citizens Housing and Planning Council; Milano The New School for Management and Urban Policy; the New York City Health and Hospitals

Corporation, where she chairs the Audit Committee and is a member of the Capital and Finance Committee; the new York City School construction Authority and the New York State Job Development Authority. Ms. Youssouf is a graduate of Wagner College with Honors, and holds an MA in Urban Policy Analysis and Management from Milano The New School for Management and Urban Policy.