Consultant To Aid In Program Design And Development Plans a.

I have the experience to assist in designing a borrowers program that aids in preventing the pitfalls and reasons why most loan modifications are denied. Based upon my direct experience and my consultation and surveys with our Servicers, the following are reasons denials occur - most denials occur from: 1. Presenting documentation or information that does not meet guidelines. Oftentimes the information is incorrect and not accurately presented 2. Not verifying income correctly or completely. 3. Missing information either because documents were not uploaded completely by the Servicer or because the Borrower did not send a complete package. 4. Loan numbers were not written on all documents. 5. There were missing signatures on the financial worksheet, tax returns, hardship letter or affidavit, or the 4506-T tax form. 6. Modification paperwork was sent in when a repayment plan had already been put into place for the Borrower. To correct this, our processing centers will counsel and assist the borrower in calling the Servicer and BACKING OUT the repayment plan from the system and then fax in paperwork 3-5 days later (making sure to call the Servicer first to make sure their system is clear of any other plan). 7. Servicer/Borrower unresponsive My role was aiding to insure Foreclosure Prevention Processing Center Programs will make sure the borrowers documentation is checked first before submitting to the Servicer and before the borrower speaks with their Servicer. b. Our Proposed FPPCs Will Help The Borrower Structure Their Requests To Meet The Requirements That Servicers Expect A Loan Modification Application To Fulfill

Our business model is based on the premise that granting a loan modification package to the borrower is at the lender's discretion; and there are a few requirements that the lender expects a loan modification applicant to fulfill. 1. The borrower would be expected to be motivated to save his home and to have done his homework in this respect. If the Borrower is thinking about applying for a loan modification package, the Borrower should get youre their ready, prepare a budget and have a clear plan of action to present to the lender in order to increase their chances of getting approval. Our processing center professionals will ensure that this requirement is met for CalHFA MAC, HAMP, HARP and HAFA programs. 2. The borrower must also be able to prove that they are in some financial trouble. Our processing center professionals will screen borrowers for CalHFA MAC,

HAMP, HARP and HAFA programs to ensure that is a demonstrable hardship i.e. that there has been a significant reduction in the borrowers monthly disposable income, or ARM reset, etc unable to pay property taxes, etc. rendering the borrower incapable of meeting their mortgage obligations. Our in-take, processors, counselors and case management professionals will screen to ensure that the hardship is a result of a job loss, pay cut or some other serious event, and not of over spending or poor financial management. 3. Most importantly, our in-take, processors, counselors and case management professionals will assists eligible borrower in developing a clear plan of action to demonstrate that they will be able to make regular and timely mortgage payments if their loan is modified and/or they receive assistance from a CalHFA MAC Program. Our processing center professional will assist in processing and packaging documentation to support the borrowers claim with estimates of their future income and expenses and a budget forecast. To sum up, our processing centers meets the needs of both the borrower and the servicer so that a loan modification can be a real blessing for homeowners trying to save their home. Mortgage lenders also tend to favor loan modification over foreclosure, provided that they are convinced that the borrower is serious about saving the home and that he or she will be able to meet all of their financial obligations once the loan is modified. All things considered, our processing center produced loan modification and/or CalHFA MAC Program package can be the ideal long term solution to a forecasted foreclosure problem - a win-win situation for everyone involved.