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IN THE NEWS Tennessee South Dakota Nationstar Expands Origination Business with Greenlight Purchase rank: 44 90+ Day Delinquency Rate Foreclosure Rate March 2013 0.9% Unemployment Rate 1.2% 4.3% year ago 0.9% 1.7% Kristy Hairston 4.4% Village Real Estate Services year-over-year change 2.2% -30.3% 615 Woodland Street Nashville, TN 37206 Office: 615-369-3278 Cell: 615-390-5247 www.FindAHomeInNashvilleTN.com -2.3% Top County MCCook CounTy 90+ Day Delinquency Rate March 2013 1.5% Foreclosure Rate 3.7% year ago 2.3% 2.5% STAT INSIGHT year-over-year change -35.5% 42% 50.6% Top Core-Based Statistical Area RApiD CiTy, SD 90+ Day Delinquency Rate Foreclosure Rate March 2013 1.1% 1.4% year ago 1.0% 2.0% year-over-year change 5.6% -28.8% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary March 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. Tennessee Foreclosure Rate March 2013 3.6% Source: RealtyTrac Texas rank: 40 90+ Day Delinquency Rate Average gross profit brought in by propertyflipping investors in Memphis in 2012. rank: 43 Unemployment Rate 1.4% 7.9% 90+ Day Delinquency Rate Foreclosure Rate March 2013 2.4% 1.2% year ago 3.8% 2.1% 8.0% 2.5% 1.6% -1.3% -5.9% -23.5% Top County 3.1% 90+ Day Delinquency Rate 2.8% 2.4% 3.8% 2.4% 2.5% year-over-year change 39.0% Top Core-Based statistical Area 16.1% 51.2% Top Core-Based statistical Area MCMinnville, Tn BonhAM, TX Foreclosure Rate 90+ Day Delinquency Rate March 2013 4.8% 2.1% year ago 3.7% 2.8% 2.7% year-over-year change -33.9% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary March 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. 106 2.7% year ago year-over-year change -1.6% Foreclosure Rate March 2013 2.5% 4.9% Foreclosure Rate year ago year-over-year change 90+ Day Delinquency Rate Morris CounTy March 2013 3.4% 1.4% -8.6% Top County Foreclosure Rate year ago 3.0% 7.0% year-over-year change -32.1% HousTon CounTy 90+ Day Delinquency Rate March 2013 6.4% year ago year-over-year change -4.7% Unemployment Rate -24.9% 0.9% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary March 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. Nationstar Mortgage revealed an agreement to acquire Greenlight Financial Services for up to $75 million in cash. The Lewisville, Texas-based servicer made the announcement in its first quarter earnings report. Nationstar expects Greenlight to originate more than $8 billion annually and says the move will further diversify its origination channels and provide additional capacity for Home Affordable Refinance Program (HARP) and recapture loans. "We are excited to announce the strategic acquisition of Greenlight Financial Services, a leading direct-to-consumer originator that provides us with another profitable lending channel for servicing asset generation," said Jay Bray, CEO of Nationstar. "We welcome the Greenlight employees to the Nationstar family. The macro landscape offers tremendous opportunities to Nationstar, and we will continue to be opportunistic as we focus on the customer experience, asset performance, and shareholder value." Greenlight, based in Irvine, California, has more than 700 employees. Nationstar also reported first-quarter net income of $62.6 million, or $0.70 per share, down from $63.8 million, or $0.71 per share, in the fourth quarter of 2012, but up from $50.2 million, or $0.67 per share, in the first quarter of 2012. Revenue expanded 30 percent to $431.1 million in the first quarter and surged 163 percent from $164.1 million a year ago. At $312 billion, Nationstar's servicing portfolio—as measured by unpaid principal balance (UPB)—was up 50 percent in Q1 when compared to the previous quarter and up 203 percent from a year earlier when UPB stood at $103 billion. HomeVestors: Market Constraints Keep Housing from Another Bubble Gains in home prices over the last year haven't provided enough lift to offset the headwinds holding the recovery down—and that's a good thing, says David Hicks, copresident of Dallas-based HomeVestors.