Terms of Modified/Restructured Loan. 16 1st Trial Payment Due Date 20090119 17 Modification Effective Date 20090419 Net Unpaid Principal Balance (net of forbearance & 18 principal reduction) 467188 19 Principal forbearance 0 20 Principal reduction 0 21 Product (fixed or step) step 22 Remaining amortization term 480 23 Maturity date 20490119 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 same as Unpaid Principal Balance before 4 above restructuring/modification 450000 34 Accrued interest, limited to 90 days 7313 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 460413 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 73485 Line item definitions can be found in SFR Data Submission Handbook. Exhibit 2a(2)
Terms of Modified/Restructured Loan. Closing date on modified/restructured loan New Principal balance Remaining term Interest rate Monthly payment - P&I Monthly payment - T&I Total monthly payment Loan type (Fixed-rate, ARM, I/O, Option ARM, negative amortization features, etc.) Lien type (1st, 2nd) If adjustable: Initial interest rate Term - initial interest rate Initial payment amount Term - initial payment amount Negative amortization? [Yes/No] Rate reset frequency after first adjustment Next reset date Index Margin Cap per adjustment Lifetime Cap Floor Restructuring Loss Calculation Loan Principal balance before restructuring xx Accrued interest, limited to 90 days xx (1) Tax and insurance advances xx 3rd party fees due xx Total loan balance due before restructuring XX XX (A) Assumptions for NPV Calculation, Restructured Loan: Discount rate for projected cash flows xx% (2) Loan prepayment in full 120 months NPV of projected cash flows (3) XX XX (B) Loss Amount XX (A) - (B) Times 80% (Receiver Loss Share percentage) 80% Amount due Assuming Bank for Receiver Loss Share Amount XX Footnotes
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. Module 1 – Whole Bank w/ Loss Share – P&A Horizon Bank Version 2.09A Bradenton, Florida August 17, 2010 100 Notes to Exhibits 2a (restructuring)
Terms of Modified/Restructured Loan. 16 1st Trial Payment Due Date 20090201 18 Net Principal balance (net of forbearance & principal reduction) 403147 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 42 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 Restructuring Loss Calculation 32 Previous NPV of loan modification 458740 33 Less: Post modification principal payments 2500 Plus:
Terms of Modified/Restructured Loan. Closing date on modified/restructured loan New Principal balance Remaining term Interest rate Monthly payment - P&I Monthly payment - T&I Total monthly payment Loan type (Fixed-rate, ARM, I/O, Option ARM, negative amortization features, etc.) Lien type (1st, 2nd) If adjustable: Initial interest rate Term - initial interest rate Initial payment amount Module 1 – Whole Bank w/ Loss Share – P&A Version 1.03 March 31, 2009 70 XXXX XXXX XXXX XXXXXXXXX, XX Term - initial payment amount Negative amortization? [Yes/No] Rate reset frequency after first adjustment Next reset date Index Margin Cap per adjustment Lifetime Cap Floor
