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62 LENDER/SERVICER PROFILE Caliber Home Loans REGIONAL Sources: caliberhomeloans.com (1/25/2014), Standard & Poor's (1/25/2014), Moody's Investors Service (1/25/2014), Fitch Ratings (1/25/2014) Take a look inside the numbers S T A T E S S E R V I C E D * KEY TECHNOLOGY Loan servicing system: FiServ SWOT STATEMENT (Strength, Weakness, Opportunity, Threat): According to Standard & Poor's, Caliber's strengths are mainly in its operational focus, which is zeroed in on customer service and default manage- ment "through both traditional methods and innovative programs," allowing the company to serve both investors and borrowers to maximum effect. Caliber is also now fully compliant with servic- ing standards and, at the time of the analysis, was on schedule to meet the Consumer Financial Protection Bureau's January deadlines. On the other hand, S&P says Caliber's aggressive growth strategy combined with its staff's comparatively limited experience is a weakness. KNOW THIS According to Standard and Poor's, Caliber reduced its REO portfolio by more than 40 percent over 2012 and the first half of 2013. COMPANY VITALS Headquarters: Irving, Texas Phone: 800.401.6587 Online: CaliberHomeLoans.com Caliber Home Loans, Inc. (formerly Vericrest), is a full-service national mortgage lender and agency direct seller/servicer. The company originates loans through a network of retail branches, wholesale lending, correspondent and mini-correspondent lending, and a consumer-direct centralized operation. Caliber was established in March 2009 by Lone Star Funds, which still provides capital backing. According to Caliber's website, the company is "dedicated to preserving the entrepreneurial spirit of a mortgage bank while ensuring the necessary operational controls to originate and service quality loans and create a company with longevity." COMPANY'S LATEST March 5, 2013 Vericrest Financial Completes Onboarding of Two New Mortgage Servicing Rights Portfolios Vericrest Financial, Inc., a premier financial services company specializing in the servicing of residential mortgage loans, today announced that it has completed onboarding two new portfolios of mortgage servicing rights (MSRs). The transactions, which boarded on December 12, 2012, and February 13, 2013, are consistent with Vericrest's strategy to grow its loan servicing portfolio by continuing to acquire MSRs and rights from investors. The acquisition of these MSRs increases the aggregate outstanding principal balance of Vericrest's servicing portfolio to $10.1 billion. - Yahoo! Finance June 10, 2013 Vericrest Changes Name to Caliber Home Loans Vericrest Financial, Inc., a financial services company with centers in Texas, Oklahoma, and California, announced it has changed its corporate name to Caliber Home Loans, Inc., effective immediately. Caliber Funding and Vericrest in January announced plans to combine organizations to create a full-service residential mortgage banking organization offering origination and servicing solutions. The new name was selected to represent the company's customer-friendly focus and broad range of mortgage banking services. "Vericrest Financial and Caliber Funding have continued to grow and evolve since the merger was announced and our teams have been hard at work bringing our two companies together," said Joe Anderson, chairman and CEO of Caliber Home Loans. "Changing Vericrest Financial's corporate name to Caliber Home Loans marks a significant milestone in this process and brings us one step closer to combining these two companies." - DSNews.com SERVICER RATINGS Fitch Ratings: RMBS Primary Servicer (Prime) >> RPS2-; RMBS Primary Servicer (Subprime) >> RPS2-; RMBS Special Servicer >> RSS2- Moody's Investor's Service: Primary Servicer (Subprime) >> SQ3; Special Servicer >> SQ3 Standard & Poor's: Residential primary servicer >> AVERAGE; Residential subprime servicer >> ABOVE AVERAGE; Residential special servicer >> ABOVE AVERAGE; Outlook Stable KEY PERSONNEL Joe Anderson Chairman and CEO Larry Spangler CFO Patrick M. Hickey EVP David T. Slear SVP, Default Servicing Staffing » Servicing Staff (as of June 30, 2013): 506 » Staff experience (averages): » Senior managers: 17 years' experience, four years' tenure » Middle managers: Nine years' experience, four years' tenure » Total annualized turnover: 10 percent for management and 15 percent for staff Standard & Poor's (11/6/13) SERVICING SUMMARY Residential Servicing Statistics MSRs » In March 2013, Caliber (then Vericrest) announced it had completed the onboarding of two MSR portfolios totaling $2.7 billion. The transactions for those portfolios closed in late 2012. VERBOSITY "Our vision is to be on the leading edge of mortgage finance, and to become a next-generation provider of products and services to current and future homeowners." - Joe Anderson, Chairman and CEO Texas, California, Oklahoma