MReport October 2018

TheMReport — News and strategies for the evolving mortgage marketplace.

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50 | TH E M R EP O RT SPECIAL ADVERTISING SECTION: 2018 ORIGINATION GUIDE KEY PERSONNEL Ray Brousseau President Scott Reed EVP, Retail Lending Greg Austin EVP, Wholesale Lending Kirk Gerling EVP, Servicing Operations Joe Laigaie EVP, Loan Servicing STAFFING 1,980 employees CONTACT INFORMATION 1600 South Douglass Road Suites 110 & 200A Anaheim, CA 92806 Phone: 888.267.0584 Web: COMPANY DESCRIPTION Carrington Mortgage Services has long been dedicated to serving the underserved, making the dream of homeownership possible for many families unable to qualify for a traditional loan. Carrington's Flexible Advantage home loan product is an ideal solution for consumers with lower credit scores, high debt-to-income ratios, who are self-employed or need help documenting their income, or who have had a recent credit event—such as foreclosure, bankruptcy, short sale, missed credit card payments, or late mortgage payments—and may not be eligible for conventional or government loan products. BUSINESS LINES, SERVICES, AND PRODUCTS In addition to a full range of FHA, VA, and USDA and conventional loan programs, Carrington offers a number of nonagency loan programs. Carrington Flexible Advantage • Primary homes, second homes, or investment properties • Purchase, refinance, and cash-out loans up to $750,000 • Recent-year W-2 and pay stub(s) for the most recent 30-day period showing year-to-date earnings may be accepted as alternative to two- year income documents • Self-employed borrowers may use traditional tax returns or bank statements for income history (12- and 24-month bank statement options) • Loan amounts up to $2 million • 30-year fixed, 5/1, and 7/1 adjustable-rate mortgages • Credit scores as low as 500 • Prior bankruptcy, foreclosure, short sale, or modification allowed down to one-day seasoning • No mortgage insurance • Nonwarrantable condos allowed Carrington Flexible Advantage Plus • Bankruptcy and foreclosures acceptable (must be 36-month seasoned) • Refinance and get cash up to $750,000 • No mortgage insurance • Credit scores down to 620 and up to 1x30 mortgage late • Primary residences, townhouses, and condos • W-2s and bank statements acceptable for self- employed borrowers • 5/1, 7/1, adjustable-rate mortgages, and 30-year fixed terms • Asset Depletion Income allowed Investor Advantage Program • Simple qualification loan for financing investment properties • No personal income qualification required— property just needs positive cash flow • Loan amounts up to $2 million and cash-out up to $750,000 • Credit scores down to 620 and up to 1x30 mortgage late • First-time investors allowed • No limit on number of properties financed with other servicers • Those with foreclosure, short sale, bankruptcy, or deed-in-lieu may qualify (with 24-month seasoning) • Seller concessions to 2 percent KEY FEATURES/BENEFITS Residential financing for underserved borrowers, including: • Low FICO borrowers down to 500 score with recent foreclosure or bankruptcy history • Loan options for new homebuyers with just 3.5 percent down payment (gift funds allowed) • Cash-out options to $750,000 and loan sizes up to $2 million • Alternative income documentation for one-year W-2 or 12-months of bank statements • Investment property financing without income qualification COMPETITIVE ADVANTAGE Carrington takes pride in offering loans to fit a wide range of circumstances, which is why the company takes the time to understand each customer's unique financial story. Carrington helps close loans that others can't. KEYS TO SUCCESS Carrington has a proven track record in helping homebuyers and homeowners get financing, even if they don't fit the traditional restrictions for qualifying. STRATEGIES AND GOALS FOR 2019 Carrington is more dedicated than ever to serving underserved borrowers by expanding our product offering to find better ways to help homeowners. Carrington continues to innovate our technology to make it even easier to submit an application, get qual- ified, share documents, and get updates throughout the loan process. INDUSTRY AWARDS, ACCOLADES, AND MILESTONES Carrington's company charity, Carrington Charitable Foundation (CCF), supports nonprofit organizations and communities across the U.S. Since 2011, the CCF Golf Classic has raised more than $16 million to support veterans. So far, Carrington House has built 19 homes for deserving veterans. TESTIMONIAL "I can't imagine how anyone could provide a higher level of service. I was completely impressed and would recommend absolutely anyone to use Carrington. " —Brandon Gamble, Carrington Borrower Carrington Mortgage Services

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