CALCULATION OF RESTRUCTURING LOSS. 2nd FDIC MODIFICATION
CALCULATION OF RESTRUCTURING LOSS. 2nd FDIC MODIFICATION Notes to Exhibits 2a (restructuring)
CALCULATION OF RESTRUCTURING LOSS. 2nd FDIC MODIFICATION Assumptions for Calculating Loss Share Amount, Restructured Loan:
CALCULATION OF RESTRUCTURING LOSS. 2ND FDIC RESTRUCTURING 1 Shared-Loss Month 20090531 2 Loan no: 123456 3 Modification Program: FDIC 4 Unpaid principal balance 450000 5 Remaining term 298 6 Interest rate 0.06500 7 Next ARM reset rate (if within next 4 months) 0.00000 8 Interest Paid-To-Date 20091230 9 Delinquency Status F 10 Monthly payment - P&I 3047 11 Monthly payment - T&I 200 Total monthly payment 3247 12 Household current annual income 55000 13 Valuation Date 20100901 14 Valuation Amount 350000 15 Valuation Type (INT, EXTP, AVM, BPO, DA, DB, FA, PAU and TV) AVM 16 1st Trial Payment Due Date 20090201 17 Modification Effective Date 20090501 18 Net Principal balance (net of forbearance & principal reduction) 403147 19 Principal forbearance 60040 20 Principal reduction 0 21 Product (fixed or step) step 22 Remaining amortization term 480 23 Maturity date 20490501 24 Interest rate 0.02000 25 Next Payment due date 20090601 26 Monthly payment - P&I 1221 27 Monthly payment - T&I 200 Total monthly payment 1421 28 Next reset date 20140501 29 Interest rate change per adjustment 0.01000 30 Lifetime interest rate cap 0.05530 31 Back end DTI 0.45000 32 Previous NPV of loan modification 458740 33 Less: Post modification principal payments 2500 35 Plus: Attorneys’ fees 0 36 Foreclosure costs, including title search, filing fees, advertising, etc. 500 37 Property protection costs, maint. and repairs 0 38 Tax and insurance advances 2500 Other Advances 39 Appraisal/Broker's Price Opinion fees 100 40 Inspections 0 41 Other 0 Gross balance recoverable by Assuming Institution 459340 52 MI Claim Date 20090119 53 MI Claim Amount 0 54 MI Response Date 20090519 42 MI contribution 0 43 Other credits 0 44 T & I escrow account balances, if positive 0 Total Cash Recovery 0 45 Discount rate for projected cash flows 0.05530 46 Loan prepayment in full 120 47 NPV of projected cash flows (see amort schd3) 364556
