Fax:OCWEN. Ocwen loan Servicing, LLC WWW,OCWEN,COM Helping Homeownersis What \.!Ve Do! HoME AFFORDABLE FoRECLOSURE ALTERNATIVES (HAFA)

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1 Ta:0 Fram:OCWEN Fax:OCWEN Pm111ered b 1 KOFAX' at: DEC : 42 Dae: Page: /06/2016 Loan Number: OAK HARBOR. WA HoME AFFORDABLE FoRECLOSURE ALTERNATIVES (HAFA) SHORT SALE AGREEMENT Property Address: Everett, WA Requestor Fax Number: Custorner(s) Narne: Dear Custorner(s), Discount Payoff: Ocwen Loan Servicing, LLC (Ocwen), acting on behalf of Deutsche Bank National Trust Company, as Trustee for NovaStar Mortgage Funding Trust, Series NovaStar Horne Equity Loan AssetBacked Certificates, Series 20071, has approved a discounted payoff on the above referenced loan in the amount of $174, (Payoff Amount) and subject to the conditions set forth herein. Expiration Date: This discounted payoff option expires on 01/23/2017 (the Expiration Date). If you do not comply with the terms described below on or before such Expiration Date, this payoff option offer rnay no longer be available to you. To accept the discounted payoff, you rnust adhere to the following prior to the expiration date of 01/23/2017 Your Assistance Options: If you have not yet applied for a loan modification, we encourage you to do so. You rnay qualify for an affordable payment plan and be able to keep your horne under the Horne Affordable Modification Program (HAMP) and/or other (NonHAMP) modification programs. If you would like to be considered for a loan modification, please contact us within 14 calendar days of this letter. 1. The Approved purchaser(s): 2. Purchase price of the property to be $189, The Maxirnurn Payment Allowable to Ocwen Loan Servicing LLC, Loan# 4. Occupant Relocation Assistance amount to be paid is $0.00 to N.A.. 5. If you require an approval to the final SETTLEMENT/CLOSING DISCLOSURE STATEMENT before closing, you rnust a copy at least 48 hours in advance to Page 1 of 13

2 KOFAX' at: DEC : 42 Dae= Page: After receipt of the entire Payoff Amount, any funds held in the Borrower's escrow/suspense account and/or insurance claim proceeds relating to the Loan shall be 1) released by Borrower(s) to Ocwen, 2) considered the property of Ocwen and 3) applied toward Ocwen's loss. 7. As indicated in the Application of Suspense and/or insurance claim funds affidavit, in addition to paying the Payoff Amount, you authorize Ocwen to apply any funds that may be in your impound (i.e., escrow) account and in your suspense and/or hazard suspense accounts in the amount of $ NMLS Page 2 of 13

3 KOFAX" at: DEC : 42 Dae= Page: 003 REQUIRED STEPS All Items must be received by Ocwen on or before the expiration date of 01/23/2017. Step 1. Sign and Send All Listed Documents to Ocwen on or before the expiration date. All borrowers must sign and fax or all parts of this letter along with the SETTLEMENT/CLOSING DISCLOSURE STATEMENT : Fax to: or t D Short Sale Agreement: fully signed by all borrowers. D HAFA Affidavit: fully signed by all borrowers (sellers) and buyer(s). 0 Final SETTLEMENT/CLOSING DISCLOSURE STATEMENT*: fully completed and signed by all parties. *IMPORTANT NOTE: The SETTLEMENT/CLOSING DISCLOSURE STATEMENT must be consistent with the preliminary SETTLEMENT/CLOSING DISCLOSURE STATEMENT that Ocwen relied upon to approve this discounted payoff. Any surplus funds must be paid directly to Ocwen Loan Servicing, LLC. Under no circumstances shall any funds go the borrower(s) unless Ocwen preapproves such payment to the borrower(s). D If Junior Liens are being paid off through this transaction, copies of payoff letters from all lien holders (containing language indicating no deficiency judgment will be pursued and no portion of the remaining balance will be collected) must be received prior to closing of this transaction. You may also mail all documents to: Ocwen Loan Servicing, LLC Attn: Short Sale Department Step 2. Wire Transfer Full Payoff Amount to Ocwen on or before the expiration date. Ocwen must receive the approved Payoff Amount by bank wire transfer no later than the close of business of the Deadline date. D Bank Wire Transfer for the full amount of the Approved Payoff include your loan number D details of the wire transfer and confirmation to Bank Wire Details How to Remit Payment: Wells Fargo Bank, NA ABA: Account Name: Ocwen Loan Servicing, LLC Account Number: Reference: Loan Number, Property Address, and Borrower Name. If you have any questions, please contact our Customer Care Center at 8:00 am to 9:00 pm, Saturday 8:00 am to 5:00 pm and Sunday 9:00 am to 9:00 pm ET. We are available Monday through Friday NMLS#IIII Page 3 of 13

4 KOFAX' at: DEC : 42 Dae= Page: 004 The borrower and coborrower, if applicable (you), of the above loan contacted the Servicer (we) because your mortgage payments are 110 longer affordable and you would like to avoid foreclosure. After listing your residential property for sale, you executed the Contract and have now requested that we approve it. However, the proceeds from the sale may not be sufficient to pay off your loan. Short Sale Program Terms and Conditions of the Request are as follows: 1. Allowable Costs that May be Deducted from Gross Sale Proceeds a. Closing Costs: The closing costs paid by you or 011 your behalf as seller must be reasonable and customary for the market. Acceptable closing costs, including the commission, which may be deducted from the gross sale proceeds, may not exceed 10% of the gross sales price. b. Subordinate Liens: We have the option to allow a total of up to lesser of 8% of Unpaid Principal Balance or $12,000 or maximum amount allowable by investor to be paid from the sale proceeds to help get subordinate mortgage lien releases. As described above, if you have these types of liens or loans 011 your property, please gather any paperwork you have (such as your last statement) and send it to us promptly. Remember, clearing these other liens and delivering clear and marketable title is your responsibility. We require each subordinate lien holder to release you from personal liability for the loans in order for the sale to qualify for this program, but we do not take any responsibility for ensuring that the lien holders do not seek to enforce personal liability against you. Therefore, we recommend that you take steps to satisfy yourself that the subordinate lien holders release you from personal liability. c. Real Estate Commissions: We will allow to be paid from sale proceeds, real estate commissions as stated in the listing agreement between you and your broker, not to exceed six percent (6%) of the contract sales price, to be paid to the listing and selling brokers involved in the transaction. Neither you nor the buyer may receive a commission. Any commission that would otherwise be paid to you or the buyer must be reduced from the commission due on sale. d. (This section does not apply if the property is vacant) Occupant Relocation Assistance: If you or a Tenant occupy the property as a principal residence and you wish to receive (or have your Tenant receive) relocation assistance, you must inform us in writing of your request. You may send a signed, hard copy of your request to the mailing address listed above. You will be required to certify under penalty of perjury at closing that the property is occupied as a principal residence by (i) yourself; (ii) a Tenant; or (iii) your legal dependent, parent or grandparent who is living in the property rentfree (Tenant) who will be required to vacate as a condition of the sale, you or the Tenant may be entitled to a relocation assistance payment of $10,000 to assist with relocation expenses. To receive relocation assistance, the occupant must be required to vacate as a condition of the sale. In addition, you must provide (i) evidence that the property is your/their principal residence, which in the case of a Tenant may include information concerning the tenant, a copy of the lease agreement or other evidence of occupancy; and (ii) a certification signed by each occupant that will receive relocation assistance attesting to the occupant's compliance with Section 1481 of the DoddFrank Wall Street Reform and Consumer Protection Act (Pub. L ) (the DoddFrank Certification). We will provide you with a DoddFrank Certification form(s). If you fail to deliver the DoddFrank Certification prior to the closing of the sale of the property, the relocation assistance will not be paid. Upon your compliance with the conditions of the sale, we will instruct the settlement agent to pay the occupant from the sale proceeds at the same time that all other payments, including the payoff of our first mortgage, are disbursed by the settlement agent. Only one payment per household is provided for the relocation assistance, regardless of the number of occupants. NMLS Page 4 of 13

5 KOFAX' at: DEC : 42 Dae:. Page: Property Maintenance and Expenses: You are responsible for all property maintenance and expenses of your property until the closing of an approved short sale, including utilities, assessments, association dues and costs for interior and exterior maintenance. Additionally, you must report any and all property damage to us and file a hazard insurance claim for covered damage. Unless insurance proceeds are used to pay for repairs or personal property losses, we may require that they be applied to reduce the mortgage debt. 3. HAFA Affidavit: At closing the buyer and seller will be required to execute an affidavit certifying that the sale is an arm's length transaction and the seller and buyer are unrelated to each other by family, marriage or commercial enterprise. The affidavit will also include an agreement by the buyer not to sell the property within 30 days of closing of the sale, or between 31 and 90 calendar days of the sale for a price greater than 120 percent of the gross sales price. 4. Foreclosure Sale Suspension: We will postpone any foreclosure sale until a decision is made plus any extensions that we may grant in writing, or until the closing date of an approved short sale, whichever is later. Please note that we may still initiate foreclosure or continue with existing foreclosure proceedings as permitted by the mortgage documents during this period. 5. Satisfaction and Release of Liability: If all of the terms and conditions of the approved short sale are met, upon sale and settlement of the property, we will prepare and send to the settlement agent for recording a lien release in full satisfaction of the mortgage, foregoing al I rights to pursue a deficiency judgment. 6. Mortgage Insurer or Guarantor or Investor Approval: The terms and conditions of the short sale are subject to the written approval of the mortgage insurer or guarantor or investors of the loan. 7. Termination of Short Sale: Unless otherwise stipulated by us in writing, any approval of the short sale may be terminated if: (a) (b) (c) (d) (e) (f) (g) You fail to authorize us to discuss your personal financial information with your broker or others involved in the sale; Your financial situation improves significantly, you qualify for a modification, you bring the account current or you pay off the mortgage in full; You or your broker fails to act in good faith in closing 011 the sale of the property or otherwise fails to abide by the terms of this letter; A significant change occurs to the property's condition or value; There is evidence of fraud or misrepresentation; You file for bankruptcy and the Bankruptcy Court declines to approve the short sale transaction; Litigation is initiated or threatened that could affect title to the property or interfere with a valid conveyance; or (h) You do not sign and return the attached Hardship Affidavit form. 8. Settlement of a Debt: The proposed transaction represents our attempt to reach a settlement of the delinquent mortgage. There is no guarantee that the Contract will be approved or, if approved, the transaction will be successful. In the event the Contract is not approved, or, if approved, the transaction is unsuccessful, the Servicer may exercise all remedies under the mortgage, including foreclosure. Page 5 of 13

6 Pm111ered b 1 KOFAX' at: DEC : 42 Dae Page: Possible Income Tax Considerations: We will report the difference between the remaining amount of principal you owe and the amount that we receive from the sale to the Internal Revenue Service (IRS) on Form 1099C, as debt forgiveness. In some cases, debt forgiveness could be taxed as income. The amount, if any, we pay you or your Tenant for moving expenses may also be reported as income. This may have consequences with respect to your federal, state, or local tax liability, as well as eligibility for any public assistance benefits you may receive. We suggest that you contact the IRS or your tax preparer to determine if you may have any tax liability. 10. Credit Bureau Reporting: We will follow standard industry practice and report to the major credit reporting agencies that your mortgage was settled for less than the full payment. We have no control over, or responsibility for, the impact of this report on your credit score. To learn more about the potential impact of a short sale on your credit, you may want to go to ACKNOWLEDGEMENTS Active Bankruptcy: If the debt secured by the abovenamed property or said property is the subject of an active bankruptcy, the abovenamed Borrower(s) must obtain and send Ocwen an order from the bankruptcy court with jurisdiction over such bankruptcy proceeding. Said court order must approve the terms and conditions of the short sale and the Discount Payoff Agreement. Agreement Confidentiality: All contents of this letter and the terms of this Discount Payoff Agreement, are strictly confidential and may only be disclosed to parties authorized by Ocwen, the U.S. Department of Treasury (if approved for a Making Hornes Affordable (MHA) program, the owner or guarantor of the loan and their respective agents or any other authorized third party. An authorized third party includes but is not limited to, a counseling agency, Housing Finance Agency (HFA), Consumer Finance Protection Bureau (CFPB). or other similar entity that is assisting in obtaining a foreclosure prevention alternative or ensuring on behalf of the borrower that all mortgage relief options were properly reviewed and offered. Any disclosure or transmittal of this letter or the terms of this Discount Payoff Agreement (including, but not limited to website postings and any promotional materials or publications whatsoever) will result in revocation of the discounted payoff offer and liability against all parties involved in such disclosure. Legal Action: Upon our timely receipt of the entire Payoff Amount, evidence of satisfaction of the above conditions and a copy of this letter, properly signed by each of the abovenamed Borrower(s). Ocwen will execute a release/satisfaction and a discharge of the Deed of Trust/Mortgage. If necessary, Ocwen will file a withdrawal in connection with any legal action it may already have taken, as of the date of your response to this letter, to collect this obligation. Balance Waiver: The remaining deficiency after acceptance of the short sale proceeds is $26, Ocwen has approved the short sale offer as full and final satisfaction of the mortgage indebtedness for this lien. Ocwen agrees to waive the remaining balance due on the referenced loan or such waiver is required by state law and, therefore, Ocwen will release the Borrower(s) from further obligation upon successful completion of the short sale. Furthermore, Ocwen agrees to waive all rights to pursue for further judgment or deficiencies, costs, fees, interest or expenses in association with the referenced loan. Ocwen further agrees that it shall not transfer any further obligations or rights to pursue further judgment or deficiencies to a third party debtcollector. Unless prohibited by state law, Ocwen will report this debt forgiveness to the Internal Revenue Service (IRS) on Form 1099C. NMLS# Page 6 of 13

7 KOFAX' at: DEC : 42 Dae= Page: 007 Notice: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is Federal Trade Commission, Equal Credit Opportunity, Washington, D.C Ocwen reserves the right to terminate this offer at any time prior to your timely acceptance of the terms set forth above. All terms within this agreement must be strictly complied with and any failure to complete or comply with any term constitutes failure to accept this discounted payoff offer rendering the offer is null and void. If this discounted payoff is not accepted, is terminated prior to acceptance, or otherwise is not completed as instructed in the manner and time frame set forth in this letter, then nothing in this letter shall be construed to prejudice, waive, modify or alter any of Ocwen or Investor's rights or remedies in law or in equity in collecting the entire amounts due and to come due on the Loan or be construed to waive any defense of Ocwen or Investor. OCWEN LOAN SERVICING, LLC IS ATTEMPTING TO COLLECT A DEBT AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. You can also contact our Customer Care Center at up time for you to speak with your relationship manager. 8:00 am to 5:00 pm and Sunday 9:00 am to 9:00 pm ET. They can answer general questions about your account, or set We are available Monday through Friday 8:00 am to 9:00 pm, Saturday has been assigned as your relationship manager and will be your designated representative for resolution inquiries and submission of documents. Vice President, Collateral Based Solutions Signature of Servicer Representative Title 12/06/2016 Printed Name of Servicer Representative Date NMLS#IIII Page 7 of 13

8 KOFAX' at: DEC : 42 Dae= Page: 008 By signing below, I/we agree to all the stated terms and conditions of the Request and I/we represent that the information provided in this Request is true and accurate and authorize the Servicer to disclose to the U.S. Department of the Treasury or other government agency, Fannie Mae and/or Freddie Mac any information provided in connection with the Making Home Affordable program. Signature I I Date (MM I DDIYY) NMLS #1111 Page 8 of 13

9 KOFAX' at: DEC : 42 Dae= Page: 009 Toll Free If you would like to speak with a counselor about this program, call the Horneowner's HOPE Hotline Horneowner's HOPE"' Hotline offers free HUDcertified counseling services and is available 24/7 in English and Spanish. other languages are available by appointment. The NOTICE TO BORROWER Be advised that any documents and information you submit to your servicer in connection with the Making Horne Affordable Program are under penalty of perjury. Any misstatement of material fact made in the completion of these documents including but not limited to misstatement regarding your occupancy in your home, hardship circumstances and/or income, expenses, or assets will subject you to potential criminal investigation and prosecution for the following crimes: perjury, false statements, mail fraud and wire fraud. The information contained in these documents is subject to examination and verification. Any potential misrepresentation will be referred to the appropriate law enforcement authority for investigation and prosecution. By returning documents or information described in this Notice you certify, represent and agree that: Under penalty of perjury, all documents and information I have provided to Lender in connection with the Making Horne Affordable Program, including the documents and information regarding my eligibility for the program, are true and correct. If you are aware of fraud, waste, abuse, mismanagement or misrepresentations affiliate. the Troubled Asset Relief Program, please contact the SIGTARP Hotline by calling: (tollfree), (fax), or Mail can be sent to: Hotline Office of the Special Inspector General for Troubled Asset Relief Program, Washington, DC NMLS#IIII Page 9 of 13

10 Ta:0 Fram:OCWEN Fax:OCWEN KOFAX' at: DEC : 42 Dac:II Page: 010 Loan Number: HAFA AFFIDAVIT (Page 1 of 2) Property Address: Everett, WA All Parties to the contract to purchase aforementioned property dated: This HAFA Affidavit (Affidavit) is given by the Seller(s) and Buyer(s) to the Servicer of the mortgage loan secured by the Property (Mortgage) in consideration for the mutual and respective benefits to be derived from the short sale of the Property with a scheduled closing date. NOW, THEREFORE, the Seller(s) and Buyer(s) do hereby represent, warrant and agree under the pains and penalties of perjury, to the best of each signatory's knowledge and belief, as follows: (a) (bl (c) (d) (e) (fl The sale of the Property is an arm's length transaction, between Seller(s) and Buyer(s) who are unrelated and unaffiliated by family, marriage, or commercial enterprise; There are no agreements, understandings, contracts, or offers relating to the current sale or subsequent sale of the Property that have not been disclosed to the Servicer; Except as disclosed to the Servicer, there are no agreements, understandings, or contracts between the Seller(s) and Buyer(s) that the Seller(s) will remain in the Property as a tenant or later obtain title or ownership of the Property. Neither the Sellers(s) nor the Buyer(s) will receive any funds or commissions from the sale of the Property except to the extent the Seller(s) receive a relocation assistance payment approved by the Servicer and reflected on the SETTLEMENT/CLOSING DISCLOSURE STATEMENT; All amounts to be paid to any person or entity, including holders of other liens on the Property, in connection with the short sale have been disclosed to and approved by the Servicer and will be reflected on the SETTLEMENT/CLOSING DISCLOSURE STATEMENT; Any person receiving relocation assistance is required to vacate the property as a condition of the sale. Further, the Seller(s) represent that all persons receiving relocation assistance (i) occupied the property as a principal residence on the date the Seller(s) submitted the request for short sale assistance to the Servicer and (ii) are either the Seller(s), a tenant, or a legal dependent, parent of grandparent of the Seller that occupied the property rentfree. NMLS#IIII Page 10 of 13

11 KOFAX' at: DEC : 42 Dae:. Page: 011 HAFA AFFIDAVIT (Page 2 of 2) By signing below, I/we agree that all representations, warranties and statements made herein will survive the closing of the short sale transaction; and I/we represent that the information provided herein is true and accurate and authorize the Servicer to disclose such information to the U.S. Department of the Treasury or other government agency, Fannie Mae and/or Freddie Mac and any of their respective agents, in connection with the Making Horne Affordable program. Selle r's Signature Seller's Printed Name Buyer's Signature Buyer's Printed Name Page 11 of 13

12 Pm111ered b 1 Ta:0 Fram:OCWEN Fax:OCWEN KOFAX' at: DEC : 42 Dae: 533 Page: 012 If you would like to speak with a counselor about this program, call the Horneowner's HOPE Hotline The Horneowner's HOPE Hotline offers free HUDcertified counseling services and is available 24/7 in English and Spanish. Other languages are available by appointment. If you have questions, please contact our Customer Care Center at We are available Monday through Friday 8:00 arn to 9:00 pm, Saturday 8:00 am to 5:00 prn and Sunday 9:00 arn to 9:00 prn ET. NOTICE TO SIGNATORIES Be advised that by signing this document you understand that any documents and information you submit in connection with the Making Horne Affordable Program are under penalty of perjury. Any misstatement of material fact made in the completion of these documents including but not limited to misstatement regarding your occupancy in your home, hardship circumstances and/or income, expenses, or assets will subject you to potential criminal investigation and prosecution for the following crimes: perjury, false statements, mail fraud, and wire fraud. The information contained in these documents is subject to examination and verification. Any potential misrepresentation will be referred to the appropriate law enforcement authority for investigation and prosecution. By signing this document you certify, represent and agree that: Under penalty of perjury, all documents and information I have provided in connection with the Making Horne Affordable Program, including the documents and information regarding eligibility for the program, are true and correct. If you are aware of fraud, waste, abuse, mismanagement or misrepresentations affiliated with the Troubled Asset Relief Program, please contact the SIGTARP Hotline by calling (tollfree), (fax), or Mail can be sent to: Hotline Office of the Special Inspector General for Troubled Asset Relief Program, Washington, DC Page 12 of 13

13 KOFAX' at: DEC : 42 Dae= Page: /06/2016 APPLICATION OF SUSPENSE FUNDS AFFIDAVIT Loan Number: Property Address: Everett, WA AVAILABLE SUSPENSE FUNDS: $ This affidavit is to confirm the following: 1) The property shown above is owned by me; 2) I have received a payoff quote, which is valid until the Expiration Date (as that term is defined in the Discount Payoff Agreement and Release of Claims). I understand this affidavit must be executed and returned to Ocwen on or before the Expiration Date; 3) I am choosing to authorize Ocwen Loan Servicing, LLC to apply the Available Suspense Funds in the amount of $ as part of a payoff for the loan number(s) referenced above. 4) I understand that striking any portion of this document will render the entire document void. ignature I I Date (MM I DDIYY) ACKNOWLEDGEMENT The State of County/Parish: Before me, the undersigned authority, in and for said county on this day personally appeared. Known to me to be the person(s), name subscribed to the forgoing instrument and knowledge to me that he/she executed the same for the purpose and consideration therein expressed. Given under my hand and seal of office, this day of Notary Public, County/Parish My Commission Expires NMLS#IIII Page 13 of 13