Residential First Lien	Residential Second Lien	Mobile Homes (With Land)	Commercial	Vacant Land
Purchase Yield	10.50%	13.75% (2)	11.00%	Beginning at 12.00%	Beginning at 12.00% (5)
Credit Rating	A (1)	A-B	A-B (1)	A	A
Unpaid Balance	Minimum $25,000. (3)	Minimum $5,000.	Minimum $25,000. (3)	Minimum $25,000. (3)	Minimum %5,000.
Seasoning	No Minimum Requirement	No Minimum Requirement	No Minimum Requirement	No Minimum Requirement	No Minimum Requirement
Investment to Value	Up to 85%	Up to 80%	Up to 80%	Up to 75%	Up to 70%
Type Properties	1-4 Family Townhomes Condos	1-4 Family Townhomes Condos	(4)	Apartments, strip centers, office buildings, warehouses, etc.	Acreage, lots, raw, improved

	(1) Includes rental property and second homes. Purchase yields adjusted for lesser credit ratings with less than 6 months seasoning. No reductions for greater than 6 months seasoning with acceptable pay history.
	(2) Purchase yield may be adjusted based on second to first ratio.
	(3) Unpaid balances less than $25,000 will be quoted on an individual case basis.
	(4) Mobile homes without land will be considered in the Houston area at a greater purchase yield.
	(5) 20% Down payment required (proposed use of land and location are important factors).

• No minimum discount.

• Purchase yield will be a minimum of 1% over contract interest rate if under 12%.

• Appraised value should exceed the unpaid balance (exceptions will be considered).

• Pricing on partial purchases upon request.

• Broker or seller will pay the cost of the title work and appraisal when required (includes all notes not purchased due to no fault by note servicing corporation).

• Special pricing on portfolios submitted on spreadsheets.

Special note:

This matrix is to be used by brokers as a guideline only. Firm prices can only be determined after a complete package is submitted and due diligence is completed.

All prices and terms are subject to change without prior notification.

Effective date: 05/05/98

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

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