Sub-Performing Asset Acquisitions

In addition to InSource Financial's focus on purchasing REO Assets, we also dedicate a portion of our operations to the purchase of a variety of classes of sub-performing assets. These assets include late stage foreclosures, delinquent residential loans, and properties transferred via the deed in lieu process or assignments of bid via sheriff or trustee sales. Our goal is to facilitate workable, beneficial solutions for all parties concerned, borrowers and lenders alike.

InSource Financial is sensitive to the fact that there are a number of issues facing lenders as a direct result of the current economic climate and heightened oversight and intervention by municipalities throughout the country. In order to limit the exposure associated with sub-performing assets InSource Financial has adopted a proactive approach to mitigating many of these situations before they arise. The individualized attention given to each asset eliminates the potential hazards and municipal concerns associated with vacant and abandoned properties such as neighborhood blight, vandalism, and falling property values.

In order to contribute to the economic recovery process InSource Financial has embarked on a number of cooperative endeavors throughout the country in the hopes of assisting borrowers in resolving their financial difficulties as well as alleviating some of the burden that has fallen on lenders and servicers. We have the capacity to assist financial institutions in acquiring assets that have been designated for mandatory re-purchase through originators. Highly trained members of our staff monitor the collections, foreclosure, and management of our loan portfolios. Through our network of servicing partners we are able to offer a wide range of repayment plans, fresh start programs, and loan modification options and we make every effort to ensure borrowers avail themselves of these resources whenever possible. In the unfortunate circumstance where legal action becomes necessary, we work closely with local counsel to ensure it is completed in accordance with current regulatory frameworks, in a manner that will insulate originators and prior servicers from relational risk, and with the utmost respect for the dignity of the borrower.

Borrowers nationwide have found themselves in the position where they no longer wish to maintain ownership of a property, but the market value is no longer sufficient to settle their outstanding loan obligations. We have partnered with lenders that are allowing borrowers to disassociate themselves from these properties through the deed in lieu process. This process avoids many of the substantial delays associated with proceeding through the legal system, as well as discretely resolving the borrower's difficult situation.

For those lenders that are bringing assets through the complete foreclosure process InSource Financial will take an assignment of the lender's bid, eliminating the need for the lender to come into title and expend efforts to prepare the home for sale in the local marketplace. Through an assignment of bid the lender is able to recapture capital immediately. InSource Financial steps into the lender's place, takes these properties into our inventory, and assumes responsibility for completing all of the tasks associated with the end of the foreclosure process. Then, in accordance with our core company philosophy we complete necessary repairs and ensure these properties are financeable and available to the buying public as quickly and efficiently as possible.

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