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» LENDER/SERVICER PROFILE VISIT US ONLINE @ DSNEWS.COM SPECIAL SERVICER Carrington Mortgage Services key personnel Bruce Rose CEO, Carrington Holding Company Dave Gordon COO, Carrington Holding Company John Alkire EVP, Mortgage Servicing Raymond Brousseau EVP, Mortgage Lending Scott Reed SVP, Mortgage Operations Nolan Turner VP and Managing Director Staffing » » » » Servicing staff: 390 Servicing sites: 2 Origination staff: 300 Origination centers: 3 servicing summary * Portfolio Stats » Residential servicing portfolio: 53,000 loans; $9.6B (UPB) » Composition: Mostly first and second lien subprime loans; 49,778 primary serviced loans and 4,085 special serviced loans company vitals Headquarters: Santa Ana, California Take a look inside the numbers Phone: 949.517.7000 Online: CarringtonMS.com || CarringtonHomeLoans.com || CarringtonWholesale.com Carrington Holding Company owns and operates multiple businesses that cover virtually every aspect of single-family residential real estate transactions—investments in U.S. real estate and mortgage markets, loan origination and servicing, asset management and property preservation, real estate sales and rental, and title and escrow services. Carrington Mortgage Services, LLC, a subsidiary of Carrington Holding Company, is an integrated mortgage company with lending and mortgage servicing operations. The servicing division operates a high-touch special servicing platform and is licensed to service distressed residential real estate assets in all U.S. jurisdictions. The mortgage lending division offers residential wholesale and retail loans in 43 states and the District of Columbia. January 9, 2013 Carrington Expanding Mortgage Operations In a sign of optimism for what the new year will bring, the lending division of Carrington Mortgage Services is opening two operations centers in Indiana and Connecticut. The division is the residential wholesale and retail loan origination arm of Carrington Holding Company LLC, and originates loans in 40 states and Washington, D.C. One of the new centers opened Jan. 2 at Carrington's existing mortgage servicing location in Fishers, Ind., and is headed by center manager Jeremy Milner. The other center will open Jan. 15 in Enfield, Conn., with underwriting manager Margaret Ploof at the helm. Unpaid Principal Balance (UPB) » Q2 2012: $9.6B » Q2 2011: $11.0B » Annual Change: -13% Loss Mitigation Stats »Over 60% in portfolio modified » Specially trained Customer Advocacy Group to address complex customer service issues Foreclosure Stats » Avg. days from NOD to NTS: 129 » Total avg. days in foreclosure: 191 *Statistics as of June 30, 2012 unless otherwise noted California, Florida, New York, New Jersey, Illinois *As of 2012 year-end business str ategy company's l atest —Inman News Portfolio Growth Loan Count » Q2 2012: 53,000 » Q2 2011: 59,000 » Annual Change: -10% s tat e s s e r v ic e d* October 22, 2012 Carrington Inducted into Ellie Mae Hall of Fame for Technology The mortgage lending division of Carrington Mortgage Services, LLC, was inducted into the Ellie Mae Hall of Fame for mortgage technology. Carrington was specifically recognized for the "Best Adoption of Automation" for its customization of Ellie Mae's DataTrac mortgage management software. The company was honored at Ellie Mae's Encompass EXPERIENCE 2012 National User Summit in Las Vegas. Carrington's modification of Ellie Mae's software led to a paperless system and to the inclusion of numerous business rules to originate compliant loans. By factoring in Carrington's rules, checks, and processes, the company maintained its focus on producing compliant, non-defaulting loans. The customization led to improved turnaround times on retail and wholesale loans and minimized instances of default and fraud among loans sold to investors. —DSNews.com servicer r atings Fitch Ratings: Residential Primary Servicer, Subprime » RPS3; Residential Special Servicer » RSS3 "We put Carrington's long-term interests ahead of short-term gains and provide superior results for our stakeholders. Our stakeholders include our investors, our borrowers, our colleagues at work, the communities where we live and work, and our affiliate companies. We take an active role in the communities where we work and live . . . . Our management team has extensive experience in the consumer finance industry. The philosophy built from this experience is one of customer and employee focus. This philosophy gives us a strategic difference in our approach to managing today's difficult environment. We have a clear understanding of the nuances of the market we serve and the importance of preserving homeownership." —Carrington Mortgage Services origination summary » Retail and wholesale lender »Conventional, FHA, FHA 203k, VA, USDA, and jumbo mortgages »Three origination units and centralized call center in Santa Ana »Thirty retail branch locations, with plans to expand » Licensed in 43 states and D.C. » 100% growth from 2011-2012 » REO and short sale property lending expertise Sources: Carrington Mortgage Services and Carrington Holding Company (1/22/2013, 2/1/2013), Fitch Ratings (12/12/2012), ForeclosureRadar.com (2/1/2013) 89