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LENDER/SERVICER PROFILE REGIONAL INSTITUTION Ocwen Loan Servicing key personnel William C. Erbey company vitals Executive Chairman Headquarters: West Palm Beach, Florida Ronald M. Faris Phone: 800.746.2936 President and CEO Online: Ocwen.com Staffing Ocwen Loan Servicing's parent company Ocwen Financial Corp. was established in 1988. The company began purchasing nonperforming loans in 1992 and has serviced subprime loans since 1996. Within the last year, Ocwen has more than doubled its servicing business and added originations to the mix—and the company sees more growth opportunities on the horizon. Company officials say they're tracking a pipeline of $350 billion in new servicing opportunities over the next 12 to 18 months, with $1 trillion up for grabs over the next two to three years. » Servicing staff: More than 4,500 (approx. 10,000 pro forma for Homeward and ResCap) » Servicing sites: 15 global operating centers servicing summary * Portfolio Stats » Residential servicing portfolio: $127B ($362B pro forma for Homeward and ResCap) » MSRs: $420M; 10% of total assets Portfolio Growth Unpaid Principal Balance (UPB) »Q3 2012: $362B (pro forma) »Q3 2011: $106B » Annual Change: +242% MSRs » Sept. 2012: $420M » Dec. 2011: $293M » Nine-Month Change: +43% Delinquency Stats » Overall delinquencies (nonperforming loans and REO serviced): 23.6% Loss Mitigation Stats » More than 300,000 loan modifications since January 2008 » 18,135 loan modifications YTD 2012; HAMP accounted for 29% » Pre-foreclosure resolution rate above 70% *As of September 30, 2012, unless otherwise noted know this Ocwen has developed relationships with nearly 100 consumer advocacy groups across the country to enhance borrower outreach. Take a look inside the numbers California, Florida, Texas, New York, Illinois company's l atest *As of Q2 2012 January 29, 2013 ResCap Delays Closing Its Sale to Ocwen Until Feb. 15 Residential Capital LLC, the mortgage company liquidating assets in bankruptcy, delayed closing the $3 billion sale of its main business to Ocwen Loan Servicing LLC to Feb. 15, a lawyer said today. The extra time will allow ResCap and government-owned mortgage investor Freddie Mac to complete a proposed agreement needed to clear the last major obstacle to the sale, ResCap lawyer Todd M. Goren said in federal court in Manhattan today. —Bloomberg October 19, 2012 Ohio Foreclosure Agency Honors Ocwen CEO The president and CEO of Ocwen Financial Corporation was honored recently at an annual gala hosted by Empowering and Strengthening Ohio's People (ESOP), a HUD-approved foreclosure prevention agency. CEO Ronald M. Faris received the "Rooted in ESOP" award to recognize Ocwen's efforts in helping homeowners obtain affordable mortgage modifications and for the servicer's innovative Shared Appreciation Modification (SAM) program. The program reduces principal to reflect the true market value of the home. —DSNews.com key technology REALServicing: proprietary servicing and workout technology. Ocwen says its system is built from more than 20 years' experience and $150M in research and development. It can be customized to support investors' alternative mitigation strategies and utilizes behavioral science principles and analytics to drive borrower communications and workout decisions. REALPortal: proprietary investor reporting technology servicer r atings Fitch Ratings: Residential Primary Servicer, Subprime » RPS3; Residential Special Servicer » RSS3 Moody's Investors Service: Primary Servicer, Subprime » SQ2-; Special Servicer » SQ2Standard & Poor's: Residential Subprime Servicer » ABOVE AVERAGE; Residential Subordinate-Lien Servicer » ABOVE AVERAGE; Residential Special Servicer » ABOVE AVERAGE recent acquisitions »ResCap servicing assets ($126.6B MSRs, $31B subservicing contracts, $46B master servicing contracts) to close February 2013 » Reverse mortgage lender Genworth Financial Home Equity Access, Inc., expected to close Q1 2013 » Homeward Residential's servicing assets ($77.4B) and origination business on December 27, 2012 » Fannie Mae MSRs with UPB $2.2B (7,100 loans) on October 1, 2012. » Subservicing portfolio with UPB $2.5B (8,800 loans) from a large bank in September 2012 » Nonperforming subservicing portfolio with UPB $1.1B (4,400 loans) from large bank in August 2012 » Fannie Mae and Freddie Mac MSRs with UPB $316M (1,700 loans) in July 2012 » Bank of America portfolio with UPB $10.1B in May 2012 » Chase portfolio with UPB $8B in April 2012 » Second Saxon portfolio with UPB $24.9B in April 2012 origination summary » Acquired Homeward Residential's lending platform December 27; currently generates $800M/month in new production » Expects mortgage production to reach $1B/month this year » Plans to add Ginnie Mae issuance capabilities Sources: Ocwen (1/17/2013), Fitch Ratings (2/21/2012, 11/9/2012), Moody's Investors Service (3/9/2012, 8/17/2012), Standard & Poor's (12/3/2012) 80 s tat e s s e r v ic e d*