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» LENDER/SERVICER PROFILE VISIT US ONLINE @ DSNEWS.COM SPECIAL SERVICER Residential Credit Solutions key personnel Dennis Stowe President and CEO Kelly O'Bannon company vitals Headquarters: Fort Worth, Texas Take a look inside the numbers Phone: 800.737.1192 SVP Rudy Orman Residential Credit Solutions (RCS) was organized in December 2006 to specialize in investing and servicing credit-sensitive and servicingintensive residential mortgage assets. RCS is licensed to acquire and service loans nationwide. The company's growth strategy is focused on strengthening its mortgage investment and special servicing businesses, and growing its third-party servicing portfolio. RCS is an approved HUD, Fannie Mae, Freddie Mac, and Ginnie Mae servicer and services distressed portfolios for the FDIC under an arrangement that gives RCS a percentage of any recoveries. s tat e s s e r v ic e d* Online: ResidentialCredit.com SVP Staffing » Servicing staff: 360 » Servicing sites: 2 servicing summary * Portfolio Stats » Residential servicing portfolio: 39,000 loans; $6.5B (UPB) » Composition: 16,000 subprime first and second liens totaling approximately $3B; 80% of portfolio under special servicing »Sees opportunities to grow portfolio with acquisitions of newly originated MSRs on Ginnie Mae portfolios Portfolio Growth Loan Count » Q2 2012: 39,000 » Q2 2011: 29,200 » Annual Change: +34% Unpaid Principal Balance (UPB) » Q2 2012: $6.5B » Q2 2011: $4.8B » Annual Change: +35% Loss Mitigation Stats »Avg. of 256 workouts per month » Calls placed 60 days before an ARM change to verify ability to pay » Able to contact approximately 86% of 60-plus-day delinquencies within 60 days of loan transfer » Promise-to-pay success rate: 88% for 30-59-day delinquencies; 66% for 60-89-day delinquencies » HAMP and non-HAMP solicitation/ return rates: nearly 90% » Trial mod approval rates for HAMP and non-HAMP: nearly 100% » Recidivism rate for loan mods closed in 2011: 10% *Statistics as of the end of Q2 2012 14.6% Illinois Company Expanding 14.6% Florida January 7, 2013 15.0% California company's l atest Texas 5.5% New York Residential Credit Solutions, a mortgage servicing company, is expanding in Mercantile Center in north Fort Worth. The company is in about 33,000 square feet of space, but recently leased 106,400 square feet, said Jacque Bird, vice president of contract management and facilities for the 5-year-old firm. The company's 360 employees will move less than a mile and by March will move into 72,000 square feet at 4708 Mercantile Drive, she said. The additional space will allow for further expansion in the coming months, she said. —Fort Worth Star Telegram February 14, 2012 Ginnie Mae Greenlights Residential Credit Solutions as Issuer, Servicer Residential Credit Solutions, Inc., (RCS) has just received approval from the Government National Mortgage Association (Ginnie Mae) to be an issuer and servicer for the Ginnie Mae I and II single-family mortgage-backed securities programs. Dennis Stowe, president and CEO of RCS, says the nod from Ginnie Mae will allow the company to provide assistance to a broader constituency of homeowners by expanding its servicing and sub-servicing offerings to both investors and issuers of federally insured and guaranteed loans. —DSNews.com key technology Servicing: Fiserv MortgageServ Call Center: Noble dialer, VRU, call monitoring/recording software Default: Mozart for Special Servicing (MoSS), Overture Mozart Loan Workout: LPS Desktop REO Management: RES.NET servicer r atings Fitch Ratings: Residential Primary Servicer, Subprime » RPS2-; Residential Special Servicer » RSS2 Standard & Poor's Residential Subprime Servicer » ABOVE AVERAGE Residential Special Servicer » ABOVE AVERAGE 3.4% *As of February 28, 2010 servicing summary * Loss Mitigation Stats (cont'd) » For short sale opportunities, reviews data two weeks prior to loan portfolio transfer, and based on results, develops targeted short sale solicitation, contacting borrower and agent; monetary incentives offered to sellers » Foreclosure cure rate: 24% REO Stats » Avg. days to market a property: 192 *Statistics as of the end of Q2 2012 servicing philosophy "Residential Credit Solutions was created to provide solutions to the changing mortgage industry. Tough times, adversity in the real estate market, and challenging mortgage products are all issues that RCS understands. This understanding, coupled with our commitment to the relationship we have with our customers and investors, is what sets us apart from other mortgage servicing companies. The RCS approach to loan servicing is a balance of state-ofthe-art technology and hands-on involvement." —Residential Credit Solutions Sources: Residential Credit Solutions (1/16/2013), Fitch Ratings (11/6/2012), Standard & Poor's (10/3/2012) 91