CALCULATION OF RESTRUCTURING LOSS - 2nd FDIC MODIFICATION. 1 Shared-Loss Month 20090531 2 Loan no: 123456 3 Modification Program: FDIC Loan before Restructuring 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 20081230 9 Delinquency Status FC 10 Monthly payment - P&I 3047 11 Monthly payment - T&I 1000 Total monthly payment 4047 12 Household current annual income 95000 13 Valuation Date 20090121 14 Valuation Amount 425000 Valuation Type (Interior/exterior appraisal, BPO, 15 AVM, etc) AVM Terms of Modified/Restructured Loan 16 1st Trial Payment Due Date 20090201 17 Modification Effective Date 20090501 Net Principal balance (net of forbearance & principal 18 reduction) 467188 19 Principal forbearance 0 20 Principal reduction 0 21 Product (fixed or step) step 22 Remaining amortization term 480 23 Maturity date 20490501 24 Interest rate 0.02159 25 Next Payment due date 20090601 26 Monthly payment - P&I 1454 27 Monthly payment - T&I 1000 Total monthly payment 2454 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 Restructuring Loss Calculation 32 Previous NPV of loan modification 458740 33 Less: Post modification principal payments 2500 Plus: 35 Attorney's fees 0 Foreclosure costs, including title search, filing fees, 36 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 Total loan balance due before restructuring 459340 Cash Recoveries: 42 MI contribution 0 43 Other credits 0 44 T & I escrow account balances, if positive Total Cash Recovery 0 Assumptions for Calculating Loss Share Amount, Restructured Loan: 45 Discount rate for projected cash flows 0.05530 46 Loan prepayment in full 120 47 NPV of projected cash flows (see amort schd1) 386927 48 Gain/Loss Amount 72413 Line item definitions can be found in SFR Data Submission Handbook. Notes to Exhibits 2a (restructuring)
CALCULATION OF RESTRUCTURING LOSS - 2nd FDIC MODIFICATION. 1 Shared-Loss Month 2 Loan no: 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 20081230 9 Delinquency Status FC 10 Monthly payment - P&I 3047 11 Monthly payment - T&I 1000 Total monthly payment 4047 12 Household current annual income 95000 13 Valuation Date 20090121 14 Valuation Amount 425000 3 Modification Program: Loan before Restructuring 20090531 123456 FDIC Valuation Type (Interior/exterior appraisal, XXX, 00 AVM, etc)
CALCULATION OF RESTRUCTURING LOSS - 2nd FDIC MODIFICATION. 1 Shared-Loss Month 20090531 2 Loan no: 123456 3 Modification Program: FDIC Loan before Restructuring 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 20081230 9 Delinquency Status FC 10 Monthly payment - P&I 3047 11 Monthly payment - T&I 1000 Total monthly payment 4047 12 Household current annual income 95000 13 Valuation Date 20090121 14 Valuation Amount 425000 Valuation Type (Interior/exterior appraisal, BPO, 15 AVM, etc) AVM
