April, 2012

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MONTH IN REVIEW The servicing sector commands headlines as acquisitions, downgrades, and key details of February's major settlement make news nationwide. March 12 DOJ Files Details of the $26B Servicer Settlement The U.S. Department of Justice (DOJ) files in fed- eral court, releasing the final details contained within the Obama administration's $26 billion settlement with the country's five largest mort- gage servicers. Among the key findings from the DOJ's documents: The confirmation that big banks won a conces- sion that enables them to write down first and second mortgages equally. March 9 Canadians Initiate NYC Real Estate Investment Expansion Canadian real estate invest- ment company Timbercreek Asset expands its global focus stateside, launching the company's New York City location. Based in Toronto, Timbercreek manages approximately $2 billion in assets through its private and publicly traded real estate-focused funds. The company's New York launch follows February's opening of Timbercreek offices in Zurich, Switzerland. March 8 Mexican Housing Day Kicks Off in New York City, London New York City and London play home to Mexico's annual housing and economic forum. Seeking to provide informa- tion on the country's housing and mortgage industries to global financial institu- tions and related organiza- tions, representatives from Mexico hold discussions on market dynamics, strengths, forecasts, and government framework during the Ninth Annual Mexican Housing Day. March 6 Aurora Sells Servicing Rights to Nationstar Nationstar Mortgage LLC makes an acquisition deal with Aurora Bank for $63 billion in residential mort- gage servicing rights (MSRs). Market speculators note that Nationstar will likely enter into about $1.45 billion of advance financing facilities to pay for the receivables, and a company statement ascribed about $268 million and $210 million in cash value to the MSRs and servicing advance receivables, respectively. March 5 GSE Rolls Out New Disclosure Initiative Fannie Mae announced an initiative to make loan- level data for single-family mortgage-backed securi- ties (MBS) accessible as a move toward transparency. The GSE will start releasing loan-level data beginning the first quarter of 2012; Laura Simmons, VP of MBS disclo- sure policy and operations for Fannie, said, "We believe that disclosing loan-level data is an important step toward meeting our investors' desire for enhanced transparency." Think All AMCs are the Same? Think Again. With the nation's best appraisers, detailed quality control, and appraisal processes customized to meet your requirements, StreetLinks LenderPlus™ has redefined what an AMC should be. Our focus on the highest appraisal quality and best service delivers guaranteed results. And that's no joke. Each appraisal is backed by our exclusive Warranty of Appraisal Quality & Appraiser Competence to ensure you receive the highest quality report, every time. Get Started Today! Learn more about what sets StreetLinks LenderPlus™ apart! p: 1.800.778.4920 | e: | 14 | THE M REPORT

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