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Highly Confidential
Residential Credit Solutions
Residential Mortgage Servicer
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• Formed in 2006 in anticipation of mortgage crisis, with experienced management and specialized servicing capabilities
• Fully licensed, agency rated, and approved servicer by HUD, Fannie Mae and Freddie MacFITCH: U.S. residential primary servicer rating for subprime product 'RPS3+’; U.S. residential special servicing rating assigned a t 'RSS3+‘
Standard and Poor’s : Residential Mortgage Subprime and Special Servicer – ABOVE AVERAGE Ranking
• Significant available capacity and scale to effectively manage mortgages at all stages of performance
Preservation of asset value is at the core of RCS’s strategy• Special servicing infrastructure with proven effectiveness in resolving sub and non-performing mortgages
• Focus on effective loss mitigation tools utilizing a best practices servicing model
• Highly-rated HAMP participant since program inception
• RCS has delivered results for its own investors, in a $2 billion joint ventures with the FDIC, for Fannie Mae, and with otherleading financial institutions and partners
RCS is a value-added partner
• Mortgage special servicing capacity without legacy problem asset burdens encumbering most existing mortgage servicers
• Loss mitigation expertise; proven capabilities in contacting borrowers and working with them to resolve loans/reduce losses
• Capital willing and able to invest significant capital to purchase non-performing loans
Residential Credit Solutions, Inc (“RCS”) is an integrated investment and servicing company focused on borrower interaction on credit-sensitive residential mortgage loans
RCS is a scale mortgage servicing and investment business that has specialized capabilities and available unencumbered capacity
Executive Overview
RCS Servicing Strategy
High Touch Collection Strategy
• High staffing ratio to ensure intensive coverage and high borrower contact rate
• Experienced and highly trained loan counselors and loss mitigators
• Borrower contact efforts begin within hours of servicing transfer
• 60+ day calls are dialed manually to maximize borrower contact
• Loss mitigation staff are encouraged to stay on the phone with borrowers as long as necessary to develop a resolution strategy.
Preparation and Accelerated Transfer
• Extensive up front modeling to identify likely resolution strategies
• Review and analysis of each 60 day+ delinquent asset prior to servicing transfer to develop the initial loss mitigation approach
• Proactive management of transition period minimizes costs and optimizes servicing:
‒ Immediate implementation of predetermined servicing strategy upon servicing transfer
Intensive, Data Driven Decision Making throughout Life of Loan
• Daily analysis of borrower contact efforts and loss mitigation pipeline reports to ensure goals are met
• Face to face borrower outreach when borrowers can’t be reached through conventional methods
• Consistently updated real estate market and timeline information
• State of the art systems and NPV decision tools
• Senior management leadership actively involved in process
RCS Objective: Maximize Value of Loan Portfolios
• Maintain performance on current loans through disciplined borrower outreach and early loss mitigation
• Cure non-performing assets utilizing intensive collection strategy, consultative approach and experienced staff
• Achieve timely resolutions using non-foreclosure collateral based solutions when a borrower based solution is not possible
• Effectively manage process and timelines through real estate sale in the event foreclosure is necessary
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RCS Approvals and Affiliations
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RCS Fitch Rating
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RCS Partnerships with the FDIC
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RCS Solutions
Sell Whole Loans
Outsource Servicing
Loss Shared Servicing
• NPL’s off balance sheet
• Capital/Focus now toward new lending
• Special Servicers improve performance• Variable cost structure
• Financial guarantee or specific loss protection on mortgage portfolio
RCS is active in Bid/Purchase NPL’s
RCS has improved performance on $6B+ in
NPL’s
RCS can provide a performance guarantee
on a specific pool of residential loans
Banker Options Considerations RCS Solutions
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Limited Outsourcing• Utilize specialists for specific servicing task• No transfer of servicing required
RCS can improve performance with component work
Contact Information
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Rudy Orman
Senior Vice President and Director ofBusiness Development and Marketing
O: (813) 632-0614C: (813) 415-1362
