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LENDER/SERVICER PROFILE ONE2WATCH Vericrest Financial key personnel David C. Schneider CEO Patrick J. Couture company vitals Headquarters: Dallas, Texas Take a look inside the numbers Phone: 800.401.6587 Chief Administrative Officer Larry Spangler Vericrest Financial is a financial services company, offering mortgage servicing solutions to investors and other customers. Vericrest specializes in loan servicing, mortgage short sales, and consumer finance loans throughout the United States. More than 600 Vericrest employees manage more than 46,600 assets for $8.2 billion. CFO Radha Thompson Chief Information Officer Patrick M. Hickey EVP, Loan Administration David T. Slear SVP, Default Servicing Staffing » Servicing staff: 600 » Servicing sites: 3 servicing summary * Portfolio Stats » Residential servicing portfolio: 55,119 loans; $10.1B (UPB) Portfolio Growth Loan Count: » 2012: 55,119 » 2011: 24,219 » Annual Change: +127% Unpaid Principal Balance (UPB) » 2012: $10.1B » 2011: $5.5B » Annual Change: +84% Delinquency Stats » 30-day delinquency rate: 6.7% » 60-day delinquency rate: 2.0% » 90+ day delinquency rate: 3.5% Loss Mitigation Stats company's l atest January 17, 2013 Caliber, Vericrest to Combine Operations California Caliber Funding LLC and Vericrest Financial, Inc. are merging their operations to form a full-service residential mortgage banking organization with both loan originations and loan servicing capabilities. Caliber is a national residential mortgage lender based in Dallas, Texas. The company employs over 950 mortgage-lending professionals nationwide and has 65 retail branches. Vericrest is a nationwide servicer with locations in Texas, Oklahoma, and California and employs over 600 mortgage-servicing professionals. The company's servicing portfolio includes about 55,600 mortgage loans with a principal balance of $10.1 billion. The companies announced their shareholders, who are comprised of various affiliates of Lone Star Funds, agreed to the move. Long Star Funds will continue to own the combined organization and provide capital backing. Final closing is expected to occur within 4 to 6 months. Until then, Caliber and Vericrest will continue to operate independently. Florida —DSNews.com Foreclosure Stats » Foreclosures completed: 10,513 » Foreclosure rate: 10.64% REO Stats » REO holdings: 933 *Statistics for FY 2012 are as of 2012 year-end 9.6% New York 8.1% Texas 4.7% Maryland 4.1% *As of December 31, 2012 90+ Day Delinquencies— Top Five States* New York 18.3% California13.5% Florida12.4% 7.1% Illinois Vericrest Acquires $2.7 Billion in Mortgage Servicing Rights 5.2% *As of December 31, 2012 Vericrest Financial Inc., which specializes in the servicing of residential mortgage loans, announced that it has signed two definitive agreements to acquire a total of approximately $2.7 billion in mortgage servicing rights (MSRs), as measured by the unpaid principal balance of the loans. "The acquisition of these MSRs will help to enhance Vericrest's position as a premier mortgage servicer with extensive national reach," said David Schneider, CEO of Vericrest. "Combined with our innovative service offerings and state-of-the-art platforms, the increased scale we will achieve through these transactions will support our growth strategy and allow us to deliver best-in-class solutions to a broader client base." The transactions closed on November 16 through December 1 of last year. —Business Wire servicer r atings Fitch Ratings: Residential Primary Servicer, Subprime » RPS2-; Residential Special Servicer » RSS2Standard & Poor's: Residential Subprime Servicer » ABOVE AVERAGE; Residential Special Servicer » ABOVE AVERAGE Sources: Vericrest Financial(1/17/2013), Fitch Ratings (10/12/2012), Standard & Poor's (9/25/2012) 20.3% Maryland December 12, 2012 » Short sales completed: 5,124 88 s tat e s s e r v ic e d* Online: VericrestFinancial.com REO Concentration— Top Five States* Florida10.2% Illinois 9.9% California 8.6% Ohio 7.9% Michigan 5.4% *As of December 31, 2012 key technology Short Sale: RES.NET REO Management: Equator Loan Workout: Commerce Velocity