1. Loan Document Indexing String does the complete review and indexing of all mortgage documents for underwriting and processing support.

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1 SERVICES OFFERED TO RESIDENTIAL MORTGAGE LENDERS Making the real estate industry more efficient String brings more than 8 million man years of collective experience in title and mortgage processes to every client engagement. Every client engagement is typified by its defining qualities swift transitions, extraordinarily short turn time, and best practices that translate to improved efficiencies. Given its Wall Street roots, String has been working with top lenders and brokers for over a decade on loans of every stripe and complexity. String has a team of experienced underwriters and trained loan processing analysts who are thoroughly conversant with the end-to-end mortgage process. 1. Loan Processing String handles data confirmation from multiple sources, including employment, income, assets, compliance review, fraud checks, and legal document review. 1. Loan Document Indexing String does the complete review and indexing of all mortgage documents for underwriting and processing support. 2. Order VOE, VOD, VOM and VOR String orders for the VOE, VOD, VOM and VOR as required from the respective departments and reviews them against the client specific checklists to determine the applicant credibility. String. All Rights Reserved 1

2 3. Order Appraisal, Title, Hazard and Flood Certificates String orders the appraisal report, title search, flood and hazard certificates on behalf of lender and updates the status in the client's LOS. 4. Tax Certs String prepares an elaborate and complete tax report on the subject property after calling, faxing or mailing assessor/ county offices 5. Verification of HOI (Home Owners Insurance) For PUD and Condominium properties, String verifies the payment of home owner insurance premiums by calling HOA (Home Owners Association). 6. Title Search & Report Preparation String performs all the required types of to review title documentation and ensure that the collateral property is free of any legal claims, liens and lawsuits against it. String also provides a written analysis of the status of title to real property, including a property description, names of title holders and title holding structure. 2. Underwriting String handles the entire spectrum of reviews that include credit, contract, flood certificate, and appraisal report review, and also makes use of automated property valuation models 1. Credit Review String reviews the credit report for validity of date, name, SSN, delinquencies, notes, outstanding balances, etc and give detailed feedback on the same. String also rates the report if requested by the client. 2. Contract Review String requests for the agreement of sale from the concerned VMC, reviews it for the accuracy of various fields - names, sale price, property address, earnest money etc - against a checklist and then delivers to the lender. 3. Review Flood Certificate String reviews the flood certificate and determines flood hazard insurance liability. 4. Review Appraisal Report String reviews the appraisal photographs, location maps, property sales history, appropriateness of the comparables, adjustments, as well as the report date, appraiser's signature and license number to check for sufficiency and appropriateness of the documents submitted for the mortgage transaction. String also tries to verify if the property valuation is on par with the market. 5. Title Review String reviews the title documentation and ensures that the collateral property is free of any legal claims, liens and lawsuits. 6. Fraud Review String ensures the applicant's creditworthiness through the identification of anomalies and potential falsifications in the loan file. String. All Rights Reserved 2

3 3. Closing Services String has the full suite of closing services for lenders. 1. Document Preparation String keys in the required information in the client's application and generates documents required for closing (such as the Mortgage, RTC, TIL, affidavits etc.) in the requested templates. 2. Scheduling of Closing String team calls up the respective parties (buyer and seller), notaries to schedule appointments for signing the closing papers; String also updates the status in the client's application. 3. HUD Reviews String fills the closing expenses, payoff information, recording charges, title and other charges in the client's application and generates the settlement statement. String also coordinates with the lender for corrections and generates the final copy. 4. HMDA Data Gathering and Reporting String collates all the information and documents from the lender, keys them in the LAR and notifies the client. 5. Closing File Review String reviews the closing package against the checklist and closing instructions. As a part of this review, String check if all the documents are signed, if all relevant documents are present, if the state and lender requirements have been met and reviews for accuracy and availability of all details. 6. MERS Recording String generates the MIN number, accesses MERS system to validate the MIN and submits the necessary information (Loan information, Borrower information, Property information, Legal description, Security instrument information, etc) to register the loan. Upon recording the document, String updates the MERS registry with the recording information. 7. Recording Support a) String reviews the recording documents against the county guidelines & client specified checklist. b) String follows up with the recorder s office to obtain the recording information. If e-recording facility is available, then String reviews and submits the final document online. 4. Post-closing Services String handles the entire post-closing process that includes an audit of the executed loan documentation for completeness and record ability, in the most efficient manner possible 1. Post-close Review and Exception Curing String reviews the loan package against the investor specified checklist for correctness and accuracy and also determines if the documents meet the compliance guidelines (RESPA, etc.). If an e - submission is possible, String ensures that the package is in proper stacking order. String. All Rights Reserved 3

4 2. Suspense/ Exception Reporting String accesses the investor website and prepares a report listing the missing documents (usually trailing documents) and sends it to the trailing documents department for follow-up. 3. Trailing Documents String follows up on trailing documents with the respective departments; upon receipt, String reviews the documents for completeness and accuracy, indexes the information into the client's application and then notifies the status to the client. 4. Investor Guideline Review String reviews the loan files and certifies for respective GSE by following the relevant investor guidelines; String also manages the delivery of files to custodian within submission deadlines. This process typically involves following up on exception items, preparing final package and ensuring timely delivery. 5. Final Document Indexing String obtains the loan package from the lender and indexes the required information in the client application. String. All Rights Reserved 4

5 Making the real estate industry more efficient 7720, Wisconsin Avenue Suite #212, Bethesda, MD USA Title Insurance Residential Mortgage Quality Assurance Data, Research & Analytics Software Development & Integration Transition Methodology Process Excellence Quality Management Data, Infrastructure & Security String. All Rights Reserved 5