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» VISIT US ONLINE @ DSNEWS.COM 81 "Ultimately, I think the cost of compliance will encourage or necessitate some servicers to exit the market," Koch said. "However, others with a long track record of compliance expertise may be able to grow their businesses by providing servicing for other companies such as small lenders or credit unions unable to handle their own servicing." Koch believes the new regulations will provide opportunity for some, but hardships for others because of the increased burden of time and expense necessary for compliance. Indiana RANK: 18 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate NOVEMBER 2013 2.79% 2.45% 7.3% YEAR AGO 3.03% 3.63% 8.4% YEAR-OVER-YEAR CHANGE -7.8% -32.4% -1.1% Top County TIPTON COUNTY 90+ Day Foreclosure Delinquency Rate Rate NOVEMBER 2013 3.59% 5.53% YEAR AGO 2.62% 5.63% YEAR-OVER-YEAR CHANGE 36.7% -1.8% Top Core-Based Statistical Area LOGANSPORT, IN 90+ Day Foreclosure Delinquency Rate Rate NOVEMBER 2013 3.86% 5.02% YEAR AGO 4.09% 6.40% YEAR-OVER-YEAR CHANGE -5.6% -21.6% 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 November 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary November 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Iowa RANK: 23 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate NOVEMBER 2013 1.51% 2.04% 4.4% YEAR AGO 1.69% 2.56% 4.9% YEAR-OVER-YEAR CHANGE -10.7% -20.0% -0.5% Top County FRANKLIN COUNTY 90+ Day Foreclosure Delinquency Rate Rate NOVEMBER 2013 3.65% 4.65% YEAR AGO 7.89% 3.89% YEAR-OVER-YEAR CHANGE -53.7% 19.7% Top Core-Based Statistical Area CLINTON, IA 90+ Day Foreclosure Delinquency Rate Rate NOVEMBER 2013 3.17% 3.74% YEAR AGO 3.58% 3.71% YEAR-OVER-YEAR CHANGE -11.4% 1.0% 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 November 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary November 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. residential mortgage teams with excellent client relationships will provide another catalyst for further loan and revenue growth." e bank's residential mortgage team, led by mortgage sales manager Brock Rauch, will consist of four additional originators averag- ing more than 18 years of experience. In addition to leading the team, Rauch will also head up First Financial's E-Channel mortgage origination platform. "Partnering with First Financial is a great opportunity and strong cultural fit for our mortgage team. First Financial's expanded set of residential mortgage products and enhanced resources will allow us to provide a greater number of mortgage solutions to existing and prospective homeowners in the greater Fort Wayne area," Rauch commented. e six-person commercial team will be led by Robert Slusser, First Financial's Fort Wayne market president, who has 25 years' banking industry experience. e commercial team also includes four relationship managers who have all worked in Fort Wayne for their entire banking careers. Speaking about his team, Slusser said, "We are excited to be joining First Financial, one of the largest community banks serving Indiana and an organization with a strong commitment to client service. We will be able to deliver a wider range of financing alterna- tives to Fort Wayne area businesses combined with local decision making capabilities and a high level of personalized service." According to a release, the bank expects to add its full line of consumer products and services in Fort Wayne during the course of the year. IN THE NEWS First Financial Enters Fort Wayne Market First Financial Bancorp is now serving the Fort Wayne, Indiana, market follow- ing the company's hiring of commercial and residential mortgage teams in the area. "We are thrilled to have these two high- performing teams join First Financial," said Claude Davis, president and CEO. "As one of the larger markets in Indiana, entering Fort Wayne has been a strategic priority for us and the addition of both commercial and IN THE NEWS Wells Fargo to Sell $39B MSR Portfolio to Ocwen Ocwen's servicing segment is set to acquire mortgage servicing rights (MSRs) on a $39 billion portfolio from Wells Fargo, the two companies announced. According to the dual releases, the port- folio consists of approximately 184,000 loans and accounted for about 2 percent of Wells Fargo's total residential servicing portfolio as of the end of 2013. e companies expect the transaction to close by the end of this year. Financial details were not disclosed. e loans underlying the MSRs in the portfolio are primarily in private label securi- ties, the companies said, and they were not originated by Wells Fargo. Last September, Wells CFO Tim Sloan told investors the bank would likely sell some of its servicing rights over the next few quar- ters as a risk management practice, "[s]o if we ever get into a period where we have to sell, we've already gone through the process." Amount of foreclosure filings in Indiana in September 2013. Source: RealtyTrac STAT INSIGHT 1 in 998

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