Common use of CALCULATION OF FORECLOSURE LOSS Clause in Contracts

CALCULATION OF FORECLOSURE LOSS. Foreclosure after a Covered Loan Mod 1 Shared-Loss Month 20090531 2 Loan no: 138554 3 Interest Paid-to-Date 20080430 4 Foreclosure sale date 20090115 5 Liquidation date 20090412 6 Note Interest rate 0.04000 10 Valuation Date 20081215 11 Valuation Amount 210000 12 Valuation Type (Interior/exterior appraisal, BPO, AVM, etc) Ext Appr Foreclosure Loss calculation 16 NPV of projected cash flows at loan mod 285000 17 Less: Post modification principal payments 2500 Plus: Foreclosure costs, including title search, filing fees, 20 advertising, etc. 4000 21 Property protection costs, maint. and repairs 7000 22 Tax and insurance advances 2000 Other Advances 23 Appraisal/Broker's Price Opinion fees 0 24 Inspections 0 25 Other 0 Gross balance recoverable by Purchaser 295500 Cash Recoveries: 26 Net liquidation proceeds (from HUD-1 settl stmt) 201000 27 Hazard Insurance proceeds 0 28 Mortgage Insurance proceeds 0 29 T & I escrow account balances, if positive 0 30 Other credits, if any (itemize) 0 Total Cash Recovery 201000 31 Gain/Loss Amount 94500 Line item definitions located in SF Data Submission Handbook Notes to Exhibits 2c (foreclosure)

CALCULATION OF FORECLOSURE LOSS. Foreclosure after a Covered Loan Mod 1 Shared-Loss Month 20090531 2 Loan no: 138554 3 Interest Paid-to-Date 20080430 4 Foreclosure sale date 20090115 5 Liquidation date 20090412 6 Note Interest rate 0.04000 10 Valuation Date 20081215 11 Valuation Amount 210000 12 Valuation Type (Interior/exterior appraisal, BPO, AVM, etc) Ext Appr Foreclosure Loss calculation 16 NPV of projected cash flows at loan mod 285000 17 Less: Post modification principal payments 2500 Plus: Foreclosure costs, including title search, filing fees, 20 advertising, etc. 4000 21 Property protection costs, maint. and repairs 7000 22 Tax and insurance advances 2000 Other Advances 23 Appraisal/Broker's Price Opinion fees 0 24 Inspections 0 25 Other 0 Gross balance recoverable by Purchaser 295500 Cash Recoveries: 26 Net liquidation proceeds (from HUD-1 settl stmt) 201000 27 Hazard Insurance proceeds 0 28 Mortgage Insurance proceeds 0 29 T & I escrow account balances, if positive 0 30 Other credits, if any (itemize) 0 Total Cash Recovery 201000 31 Gain/Loss Amount 94500 Line item definitions located in SF Data Submission Handbook Notes to Exhibits 2c (foreclosure)94500

CALCULATION OF FORECLOSURE LOSS. Foreclosure after a Covered Loan Mod Occurred Prior to Loss Share Agreement 1 Shared-Loss Month 20090531 2 Loan no: 138554 May-09 364574 3 Interest Paid-to-Date 20080430 REO # 621 4 Foreclosure sale date 20090115 12/18/08 5 Liquidation date 20090412 4/12/09 6 Note Interest rate 0.04000 10 Valuation Date 20081215 11 Valuation Amount 210000 12 Valuation Type (Interior/exterior appraisal, BPO, AVM, etc) Ext Appr 8.100% 7 Most recent BPO 228,000 8 Most recent BPO date 1/21/09 Foreclosure Loss calculation 16 NPV 9 Book value at date of projected cash flows at loan mod 285000 17 LessLoss Share agreement 244,900 Accrued interest, limited to 90 days or days from failure 10 to sale, whichever is less 3,306 11 Costs incurred after Loss Share agreement in place: Post modification principal payments 2500 Plus: 12 Attorney's fees 0 Foreclosure costs, including title search, filing fees, 20 13 advertising, etc. 4000 21 0 14 Property protection costs, maint. and repairs 7000 22 6,500 15 Tax and insurance advances 2000 0 Other Advances 23 16 Appraisal/Broker's Price Opinion fees 0 24 17 Inspections 0 25 18 Other 0 19 Gross balance recoverable by Purchaser 295500 254,706 Cash Recoveries: 26 20 Net liquidation proceeds (from HUD-1 settl stmt) 201000 27 219,400 21 Hazard Insurance proceeds 0 28 22 Mortgage Insurance proceeds 0 29 23 T & I escrow account balances, if positive 0 30 24 Other credits, if any (itemize) 0 25 Total Cash Recovery 201000 31 Gain/219,400 26 Loss Amount 94500 Line item definitions located in SF Data Submission Handbook Notes to Exhibits 2c (foreclosure35,306 Exhibit 2a(2)

CALCULATION OF FORECLOSURE LOSS. Foreclosure after a Covered Loan Mod 1 Shared-Loss Month 20090531 2 Loan no: 138554 3 Interest Paid-to-Date 20080430 4 Foreclosure sale date 20090115 5 Liquidation date 20090412 6 Note Interest rate 0.04000 10 Valuation Date 20081215 11 Valuation Amount 210000 12 Valuation Type (Interior/exterior appraisal, BPO, AVM, etc) Ext Appr Foreclosure Loss calculation 16 NPV of projected cash flows at loan mod 285000 17 Less: Post modification principal payments 2500 Plus: Foreclosure 19 Attorney’s 0 fFeoerseclosure costs, including title search, filing fees, 20 advertising, etc. 4000 21 Property protection costs, maint. and repairs 7000 22 Tax and insurance advances 2000 Other Advances 23 Appraisal/Broker's ’s Price Opinion fees 0 24 Inspections feIensspections 0 25 Other 0 Gross balance recoverable by Purchaser 295500 Cash Recoveries: 26 Net liquidation proceeds (from HUD-1 settl stmt) 201000 27 Hazard Insurance proceeds 0 28 Mortgage Insurance proceeds 0 29 T & I escrow account balances, if positive 0 30 Other credits, if any (itemize) 0 Total Cash Recovery 201000 31 Gain/Loss Amount 94500 Line item definitions located in SF Data Submission Handbook Notes to Exhibits 2c (foreclosure)

CALCULATION OF FORECLOSURE LOSS. Foreclosure after a Covered Loan Mod 1 Shared-Loss Month 20090531 2 Loan no: 138554 3 Interest Paid-to-Date 20080430 4 Foreclosure sale date 20090115 5 Liquidation date 20090412 6 Note Interest rate 0.04000 10 Valuation Date 20081215 11 Valuation Amount 210000 12 Valuation Type (Interior/exterior appraisal, BPO, AVM, etc) Ext Appr Foreclosure Loss calculation 16 NPV of projected cash flows at loan mod 285000 17 Less: Post modification principal payments 2500 Plus: Foreclosure costs, including title search, filing fees, 20 advertising, etc. 4000 21 Property protection costs, maint. and repairs 7000 22 Tax and insurance advances 2000 Other Advances 23 Appraisal/BrokerXxxxxx's Price Opinion fees 0 24 Inspections 0 25 Other 0 Gross balance recoverable by Purchaser 295500 Cash Recoveries: 26 Net liquidation proceeds (from HUD-1 settl stmt) 201000 27 Hazard Insurance proceeds 0 28 Mortgage Insurance proceeds 0 29 T & I escrow account balances, if positive 0 30 Other credits, if any (itemize) 0 Total Cash Recovery 201000 31 Gain/Loss Amount 94500 Line item definitions located in SF Data Submission Handbook Notes to Exhibits 2c (foreclosure)94500

CALCULATION OF FORECLOSURE LOSS. Foreclosure after a Covered Loan Mod 1 Shared-Loss Month 20090531 2 Loan no: 138554 3 Interest Paid-to-Date 20080430 4 Foreclosure sale date 20090115 5 Liquidation date 20090412 6 Note Interest rate 0.04000 10 Valuation Date 20081215 11 Valuation Amount 210000 12 Valuation Type (Interior/exterior appraisal, BPO, AVM, etc) Ext Appr Foreclosure Loss calculation 16 NPV of projected cash flows at loan mod 285000 17 Less: Post modification principal payments 2500 Plus: Foreclosure 19 Attorney’s 0 fFeoerseclosure costs, including title search, filing fees, 20 advertising, etc. 4000 21 Property protection costs, maint. and repairs 7000 22 Tax and insurance advances 2000 Other Advances 23 Appraisal/Broker's ’s Price Opinion fees 0 24 Inspections feIensspections 0 25 Other 0 Gross balance recoverable by Purchaser 295500 Cash Recoveries: 26 Net liquidation proceeds (from HUD-1 settl stmt) 201000 27 Hazard Insurance proceeds 0 28 Mortgage Insurance proceeds 0 29 T & I escrow account balances, if positive 0 30 Other credits, if any (itemize) 0 Total Cash Recovery 201000 31 Gain/Loss Amount 94500 Line item definitions located in SF Data Submission Handbook Notes to Exhibits 2c (foreclosure)94500

CALCULATION OF FORECLOSURE LOSS. Foreclosure after a Covered Loan Mod 1 Shared-Loss Month 20090531 2 Loan no: 138554 3 Interest Paid-to-Date 20080430 4 Foreclosure sale date 20090115 5 Liquidation date 20090412 6 Note Interest rate 0.04000 10 Valuation Date 20081215 11 Valuation Amount 210000 12 Valuation Type (Interior/exterior appraisal, BPO, AVM, etc) Ext Appr Foreclosure Loss calculation 16 NPV of projected cash flows at loan mod 285000 17 Less: Post modification principal payments 2500 Plus: Foreclosure 19 Attorney’s 0 fFeoerseclosure costs, including title search, filing fees, 20 advertising, etc. 4000 21 Property protection costs, maint. and repairs 7000 22 Tax and insurance advances 2000 Other Advances 23 Appraisal/Broker's Xxxxxx’s Price Opinion fees 0 24 Inspections feIensspections 0 25 Other 0 Gross balance recoverable by Purchaser 295500 Cash Recoveries: 26 Net liquidation proceeds (from HUD-1 settl stmt) 201000 27 Hazard Insurance proceeds 0 28 Mortgage Insurance proceeds 0 29 T & I escrow account balances, if positive 0 30 Other credits, if any (itemize) 0 Total Cash Recovery 201000 31 Gain/Loss Amount 94500 Line item definitions located in SF Data Submission Handbook Notes to Exhibits 2c (foreclosure)

CALCULATION OF FORECLOSURE LOSS. Foreclosure after a Covered Loan Mod 1 Shared-Loss Month 20090531 2 Loan no: 138554 3 Interest Paid-to-Date 20080430 4 Foreclosure sale date 20090115 5 Liquidation date 20090412 6 Note Interest rate 0.04000 10 Valuation Date 20081215 11 Valuation Amount 210000 12 Valuation Type (Interior/exterior appraisal, BPO, AVM, etc) Ext Appr Foreclosure Loss calculation 16 NPV of projected cash flows at loan mod 285000 17 Less: Post modification principal payments 2500 Plus: Foreclosure costs, including title search, filing fees, 20 advertising, etc. 4000 21 Property protection costs, maint. and repairs 7000 22 Tax and insurance advances 2000 Other Advances 23 Appraisal/BrokerXxxxxx's Price Opinion fees 0 24 Inspections 0 25 Other 0 Gross balance recoverable by Purchaser 295500 Cash Recoveries: 26 Net liquidation proceeds (from HUD-1 settl stmt) 201000 27 Hazard Insurance proceeds 0 28 Mortgage Insurance proceeds 0 29 T & I escrow account balances, if positive 0 30 Other credits, if any (itemize) 0 Total Cash Recovery 201000 31 Gain/Loss Amount 94500 Line item definitions located in SF Data Submission Handbook Notes to Exhibits 2c (foreclosure)

CALCULATION OF FORECLOSURE LOSS. Foreclosure after a Covered Loan Mod 1 Shared-Loss Month 20090531 2 Loan no: 138554 3 Interest Paid-to-Date 20080430 4 Foreclosure sale date 20090115 5 Liquidation date 20090412 6 Note Interest rate 0.04000 10 Valuation Date 20081215 11 Valuation Amount 210000 12 Valuation Type (Interior/exterior appraisal, BPO, AVM, etc) Ext Appr ExtAppr Foreclosure Loss calculation 16 NPV of projected cash flows at loan mod 285000 17 Less: Post modification principal payments 2500 Plus: 19 Attorney’s fees 0 20 Foreclosure costs, including title search, filing fees, 20 advertising, etc. 4000 21 Property protection costs, maint. and repairs 7000 22 Tax and insurance advances 2000 Other Advances 2000 23 Appraisal/Broker's ’s Price Opinion fees 0 24 Inspections 0 25 Other 0 Gross balance recoverable by Purchaser 295500 Cash Recoveries: 26 Net liquidation proceeds (from HUD-1 settl stmt) 201000 27 Hazard Insurance proceeds 0 28 Mortgage Insurance proceeds 0 29 T & I escrow account balances, if positive 0 30 Other credits, if any (itemize) 0 Total Cash Recovery 201000 31 Gain/Loss Amount 94500 Line item definitions located in SF Data Submission Handbook Notes to Exhibits 2c (foreclosure)

CALCULATION OF FORECLOSURE LOSS. Foreclosure after a Covered Loan Mod 1 Shared-Loss Month 20090531 2 Loan no: 138554 138,554 3 Interest Paid-to-Date 20080430 4 Foreclosure sale date 20090115 5 Liquidation date 20090412 6 Note Interest rate 0.04000 10 Valuation Date 20081215 11 Valuation Amount 210000 210,000 12 Valuation Type (Interior/exterior appraisal, BPO, AVM, etc) Ext Appr Foreclosure Loss calculation 16 NPV of projected cash flows at loan mod 285000 285,000 17 Less: Post modification principal payments 2500 2,500 Plus: 19 Attorney's fees 0 20 Foreclosure costs, including title search, filing fees, 20 ,advertising, etc. 4000 4,000 21 Property protection costs, maint. and repairs 7000 7,000 22 Tax and insurance advances 2000 2,000 Other Advances 23 Appraisal/Broker's Price Opinion fees 0 24 Inspections 0 25 Other 0 Gross balance recoverable by Purchaser 295500 295,500 Cash Recoveries: 26 Net liquidation proceeds (from HUD-1 settl stmt) 201000 201,000 27 Hazard Insurance proceeds 0 28 Mortgage Insurance proceeds 0 29 T & I escrow account balances, if positive 0 30 Other credits, if any (itemize) 0 Total Cash Recovery 201000 201,000 31 Gain/Loss Amount 94500 94,500 Line item definitions located in SF Data Submission Handbook Notes to Exhibits 2c (foreclosure)