April, 2012

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AROUND THE U.S. ANALYTICS Counting Quarters: Home Prices Fight for Traction Evaluating quarter-to-quarter home pricing movement, statistics from Clear Capital's Home Data Index for February show the U.S. housing markets continue to inch toward stability with minimal declines nationwide. Notes: Each percentage listed represents the quarter-over-quarter change in pricing for the region. The Metro Market percentages represent the quarter-over- quarter change in pricing for those areas. Regional NORTHEAST MIDWEST WEST -0.4% KS MO KY -1.8% -0.1 SOUTH -0.2 15 Best Performing Metro Markets Providence, RI; New Bedford and Fall River, MA: Phoenix, Mesa, and Scottsdale, AZ: Columbus, OH: Miami, Ft. Lauderdale, and Miami Beach, FL: Richmond, VA: Houston, Baytown, and Sugarland, TX: Orlando, FL: New Jersey; New York and Long Island, NY: Oxnard, Thousand Oaks, and Ventura, CA: Bakersfield, CA: Bloomington, WI; Minneapolis and St. Paul, MN: Sacramento, Arden, and Roseville, CA: Las Vegas and Paradise, NV: 68 | THE M REPORT 7.3 5.8 3.6 Washington, D.C.; Arlington and Alexandria, VA 2.9 Pittsburgh, PA: 2.7 2.2 1.7 1.6 1.4 1.3 1.2 1.1 1.1 0.9 0.8 15 Worst Performing Metro Markets Cleveland, OH: Milwaukee, Waukesha, and West Allis, WI: Birmingham and Hoover, AL: Seattle, Tacoma, and Bellevue, WA: Atlanta, Sandy Springs, and Marietta, GA: Philadelphia, PA; Camden, NJ; Wilmington, DE: Detroit, Warren, and Livonia, MI: Memphis, TN: Nashville, Davidson, and Murfreesboro, TN: Chicago, Naperville, and Joliet, IL: New Orleans, Metairie, and Kenner, LA: Jacksonville, FL: Los Angeles, Long Beach, and Santa Ana, CA: Dayton, OH: St. Louis, MO: -9.4 -9 -6.2 -5.2 -4.8 -4.7 -4.5 -3.1 -3.1 -2.2 -2.1 -2 -1.9 -1.7 -1.5 About the Clear Capital Home Data Index (HDI): Generates the timeliest indices in patent-pending rolling quarter intervals that compare the most recent four months to the previous three months. The rolling quarters have no fixed start date and can be used to generate indices as data flows in, significantly reducing the multimonth lag time experienced with other indices. Includes both fair market and institutional (real estate owned) transactions, giving equal weight to all market transactions and identifying price tiers at a market specific level. By giving equal weight to all transac- tions, the HDI is truly representative of each unique market. Results from an address-level cascade create an index with the most granular, statistically significant market area available. Provides weighted repeat sales, and price-per-square-foot index models that use multiple sale types, including single-family homes, multifamily homes, and condominiums. SECONDARY MARKET ANALYTICS SERVICING ORIGINATION

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