NOTE SERVICING CORPORATION is very pleased in your interest with our company and appreciates this opportunity to introduce our servicing policies.

Note Servicing Corporation since 1985, fills a gap in the industry by providing loan servicing and mortgage acquisitions. Note Servicing Corporation (NSC) services private portfolios of any size.

Our reputation for quality and integrity of service is the foundation upon which our organization was built. We place emphasis on the training and supervision of our personnel so each and every employee is familiar with all aspects of loan servicing. We employ specialists in each area of all loan servicing functions.

Note Servicing Corporation will provide your company with a comprehensive loan servicing program, which will consist of the following:

• ACCOUNTING

• REPORTING DELINQUENCIES

• COLLECTIONS

• WORKOUTS (REFINANCE/RENEWAL AND EXTENSIONS)

• REINSTATEMENT

• ABANDONMENT

• FORECLOSURES

• PROPERTY AND FLOOD INSURANCE

• FEES

Installments and impound (escrow) deposits collected from the Mortgagor will be deposited in NSC's custodial bank accounts via lockbox. Permanent Mortgage account records can be produced at anytime. The date, amount of distribution, installment due date or other transactions affecting the amounts due from the mortgagor and indicating the latest outstanding balances of principal, impound deposits, advances and unapplied payments are displayed.

Remittances are completed on or before the tenth business day of each month, for prior month's receipts all principal and interest collected from mortgagors less fees as compensation as set forth in the Servicing Agreement.

Borrower Loan Status

NSC reports the borrowers loan status monthly to Transunion and Equifax.

Sixty (60) days and beyond delinquent accounts are reported monthly on separate forms indicating all efforts and activities.

Late Notices - 11th or 16th day or by stipulation of the note. Phone contact 5 days from late notice. Should inadequate contact prevail by the 45th day a property inspection is ordered. If satisfactory response is not obtained, Note Servicing Corporation will continue with notices, letters, phone calls and interviews until the mortgage has been brought current. Sixty and ninety day letters are sent. FHA Title I, HUD, FHLMC , FNMA, GNMA guidelines are followed.

Property Inspections

If we have not obtained the borrower's agreement to repay by the 45th day of delinquency a property inspection is ordered to determine the physical condition and occupancy status before recommending further servicing action. We will continue to inspect the property every month until satisfactory arrangements have been made.

From time to time with client approval, Note Servicing Corporation will modify the terms of the note to borrowers that have proper regard for their obligations.

A reinstatement agreement is necessary to properly document activity if acceleration of the note occurs and the borrower brings the loan current.

Notice of default and intent to accelerate will be sent to the borrower at his last known mailing address, if we ascertain abandonment by debtor effort is made to locate borrower and ascertain reason for abandonment. NSC will secure the property and contact all superior lien holders.

As last resort, NSC will recommend foreclosure. Should foreclosure take place NSC will follow all state and federal guidelines to ensure title perfection. A title and tax update will be ordered to ascertain any outstanding liens or delinquent property taxes. IRS form 1099-A will be filed in accordance to IRS code.

Note Servicing will ensure the improvements on property securing each mortgage loan are insured by property and or flood insurance issued by companies that are acceptable by industry standards (i.e. Federal National Mortgage Association "FNMA", etc) in an amount at least equal to the unpaid principal balance of the loan or the full insurable value of the improvements, whichever is less and in accordance with Investor requirements.

All insurance claims will be processed as follows:

1. generate reports of hazard and flood insurance losses and assure that Proof of Loss statements are properly filed;

2. authorize the restoration and rehabilitation of the damaged property;

3. collecting, endorsing and disbursing the insurance loss proceeds and arranging for progress inspections and payments, if necessary;

4. complying with all applicable FHA, VA OR PRIVATE MORTGAGE INSURANCE requirements pertaining to settlement of insurance loss;

5. in general, attempting to assure that the priority of the Mortgage is by preserved to the extent possible by complying with all local lien laws;

6. process insurance drafts provided that the mortgage loan is current.

Servicing fees are billed or deducted from total sums tendered to client. Additional expenses will be paid by client listed as follows:

1. Securing property

2. Advances to superior lien holders

3. Maintenance of REO’s

4. Any additional collection expenses incurred

5. A one time setup fee

6. Title and tax searches

7. Attorney fees

In the event of major changes in the Consumer Price Index, Note Servicing Corporation reserves the right to adjust its servicing fee schedule in accordance with the Consumer Price Index, along with any other changes which may effect economic circumstance.

We believe our service offers the most professional and comprehensive in the field of loan servicing. Our Loan Servicing System is fully automated. Note Servicing Corporation's staff is immediately responsive to your needs, communicates regularly for the purpose of service evaluation and modifications where required by changes in the servicing environment.

To get started contact Mary Miller at 225.753.5433 or e-mail at mary@noteservicing.com.

We look forward to hearing from you.

P.O. Box 83778
Baton Rouge, LA 70884-3778
(225)753-5433
1-800-955-5027
FAX: (225)753-5423

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