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REO ASSET MANAGEMENT SPECIAL ADVERTORIAL SECTION Carrington Property Services Nationwide coverage CORPORATE DETAILS: 1610 East Saint Andrew Place, Suite B-150P | Santa Ana, California 92705 | 949.517.6700 | CarringtonPS.com BUSINESS SCOPE: Carrington Property Services, LLC, Corporate Headquarters Santa Ana, CA Kevin Cloyd President Renee Deane EVP of Operations Matt Slonaker SVP, Institutional Business Channel Danielle Washburn VP, Asset Management STAFFING: »» »» »» »» Company Employees: 150 Agents/Brokers: 2,000+ Field Services Professionals: 500+ Property Managers: 400+ corpor ate profile BUSINESS LINES/SERVICES: »» »» »» »» »» »» Asset Management Property Management Short Sale Services Deed-for-Lease Services Property Evaluations Investor Asset Purchase contact info Matt Slonaker SVP, Institutional Business Channel 972.202.8980 matt.slonaker@carringtonps.com THE CARRINGTON DIFFERENCE: What differentiates is a provider of real estate marketing and management services for institutional property owners. The company prepares and executes a customized disposition plan for each individual property via a rental or sale strategy in order to maximize the value of the asset. Carrington offers a comprehensive suite of flexible outsourced solutions to minimize risk for institutional owners of real estate who are looking for a cost-effective way to manage and market their assets. Carrington helps clients create a variety of tailored property disposition solutions, including asset management oversight, retail and wholesale liquidations, property rental and management solutions, property evaluations, and short sale services. The company's REO rental programs consistently deliver in terms of maintaining property values, creating positive cash flow, and enabling owners to benefit from future appreciation. Expertise across multiple U.S. markets is combined with personalized local market presence and supported by a national network of real estate and property management professionals, as well as a proprietary software application that allows Carrington to monitor and manage the assets in its care. Carrington Property Services from its competition is a holistic approach to asset management. The company's integrated business model delivers high performance, national coverage through a central point of control, and provides access to the expertise of the entire Carrington family of companies, with services including financing, REO asset management, rental management, property preservation, property evaluations, title and escrow, and real estate sales. No other asset management company offers all of this under one roof or has the flexibility to deliver as many of these capabilities ondemand as a client needs. Carrington's integrated business model is resultsoriented and designed to minimize costs while maximizing value. The company's approach has been proven to reduce days-on-market and deliver higher sales prices—and higher net margins—for its clients. It's a centralized, all-encompassing way of doing business that eliminates the need to manage numerous brokers and various other vendors in multiple markets, and it's the company's ability to leverage multidisciplinary expertise that helps clients make better business decisions. Carrington uses its proprietary reconciliation products to help clients decide when it makes sense to rent a property rather than sell it, and in a sale, to help clients decide when it would be more profitable to rehabilitate the property rather than sell it as-is. Doing business this way helps Carrington's clients achieve better financial results without having to work harder. COMPETITIVE ADVANTAGE: Carrington Property Services has a history of innovation. It was the first company to rent out REO homes on a national basis (more than 30,000 assets managed with seven institutional clients). It was the first asset management company to offer a truly integrated approach to the business using the assortment of companies under the Carrington Holdings umbrella. And in November 2012, it unveiled the Carrington Property Network, an exclusive national network of leading residential real estate brokerage firms focused on REO sales—another industry first. Instead of managing a far-flung, loosely structured group of individual REO agents, Carrington Property Services partners with an established, carefully selected group of the nation's leading brokers and assists them in growing their businesses by participating in the distressed property market. Through our asset management continuum of companies, Carrington Property Services delivers tangible financial benefits to its clients in terms of increased cash realized (net proceeds to original list prices) while selling the assets within industry leading timeframes. Our data suggests that gross sales prices improved as much as 500 basis points utilizing Carrington's real estate continuum to buy, manage, and sell distressed assets as well. CORPORATE STRENGTHS: » Single point of contact environment » National presence » Local market expertise » Competitive pricing » Capacity and scalability » Transparency » The latest technology capabilities » Reliable, proven performance » Vendor quality control » Business process expertise » Risk management 64 QUICK FACTS: 1. More than $57 million in rents collected in the last 12 months. 2. 30,000+ single-family rental assets in 46 states under management in the last six years. 3. 5,000+ single-family rental assets currently under management as of EOM October 2013. 4. More than 300 operational reports built within proprietary RentPointe system. 5. Client examples where rental income was increased on same pool of 300 assets by more than 1,000 percent within six months of assuming the portfolio. 6. More than 20,000+ single-family real estate owned assets managed and more than $2 billion in sales per year. 7. Demonstrates significant improvement in sales proceeds for clients' REO portfolios. 8. BPO Plus product utilized on several billion-dollar nonperforming loan trades.

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