SN SERVICING CORPORATION

323 Fifth Street

Eureka, CA 95501

800-603-0836, Ext.

Fax (916) 231-

January 23, 2008

VIA FACSIMILE AND U.S. MAIL

Fax No.: Phone No.:

Re: Account No.: (PLEASE MAKE SURE THIS IS ON ALL CORRESPONDENCE)

Debtor:

Dear:

You have been assigned as agent of record on the above referenced asset.

Please immediately inspect and secure the property following the procedures as outlined on the attached Broker Instructions. Please take the time to review the Broker Instructions and the balance of this package very carefully. You may have previously received listing packages from our company; however this package was last revised on October 1, 2007, and you will need to be aware of changes made to the instructions on that date. This package should include the following:

Broker Instructions. This sheet sets out our procedures for property inspection, valuation, reporting and billing procedures.

Addendum to Listing Agreement. This addendum must be signed and returned to this office along with your standard listing agreement. Please note the entity name in which we hold title is ent.

REO Initial Property Inspection/Occupancy Status Report. Note that if property contains more than one unit, this report must be completed for each unit.

Agreement to Vacate.

ERC/CMA Form. To be completed and returned per Broker instructions within 7 days. If you are unable to complete this form within the allotted time frame, please notify the Asset Manager. IMPORTANT

Broker Monthly Status Report. This report must be completed and faxed to this office on a monthly basis.

Offer/Estimated Net to Seller Sheet. This form must be completed and submitted with any offer to purchase.

Check Request/Invoice Coversheet. See the billing procedures on Broker Instructions for information on the use of this form.

Addendum to Sales Contract. This addendum must be executed by Buyer and returned with all sales Contracts.

Commission/Referral Fee Instructions. This must be completed by the Listing Broker and returned with each sales contract.

Form W-9, Request for Taxpayer Identification Number and Certification. This form must be submitted with your Listing Agreement. If, however, you have already submitted a W-9 to our company, please disregard.

Should you have any questions, please contact me at (800) 603-0836. If you are unable to reach me by telephone, you may fax me at or email: @snsc.com.

Sincerely,

REO Asset Manager

Enc.

SN SERVICING CORPORATION

Broker Instructions

Upon receipt of a request for a Competitive Market Analysis (CMA), the Agent shall proceed as follows:

  1. Check occupancy status and report findings to the Asset Manager within 24 hours by completing and returning the REO INITIAL PROPERTY INSPECTION REPORT.
  2. Immediately have vacant property re-keyed and secured. The property must be re-keyed to Quick-Set Master #35241. If a lockbox is installed on the property, it should be programmed with the first three letters of the street name.
  3. Complete ERC/CMA and fax to Asset Manager within 7 DAYS of receipt of the request. Forward via email or fax (unless original documents are required in your state):

ERC/CMA including subject photos (front, rear, street and interior) and comparables photos.

Your signed listing agreement. Note: The Addendum to Listing Agreement included herewith must be signed and returned along with your standard form listing agreement.

A list of the recommended repairs and bids for same.

  1. Order necessary utilities restored to the premises. If inspections are required in order to restore utilities, determine cost of said inspection and contact Asset Manager prior to proceeding with inspection.
  2. Have vacant properties trashed out and basic cleaning and lawn care completed within 72 hours of access. If the estimated cost of performing the aforesaid is in excess of $500, obtain and submit two bids to the Asset Manager for approval before proceeding.
  3. Within fifteen (15) days of execution of the listing agreement by both parties, submit to the Asset Manager a photograph of the premises with the Agent’s “For Sale” sign installed on the front lawn along with a copy of the MLS printout of the listing.
  4. On a monthly basis, submit to the Asset Manager a completed copy of the Monthly Status Report attached.
  5. If property is vacant, place on regular lawn maintenance as necessary and have winterized immediately when applicable.

Billing Procedures

(These procedures are intended to simplify and expedite payment of expenses. Therefore, your cooperation is greatly appreciated. Please contact your Asset Manager if you have any questions. Any bills submitted contrary to these instructions will be returned for correction. This will delay submission for reimbursement until the following month’s billing cycle.

Original invoices, along with copies of the Agent’s check must be submitted MONTHLY to this office so that they are received between the 1st and 10th days of each month. Failure to submit bills on a monthly basis will result in non-payment (unless prior approval from Asset Manager is received.) The monthly expenses for each property must be itemized on one check request form (see attached). Checks for reimbursement of monthly expenses will be made payable to the Agent (not the vendor).

Condo and Co-op fees must be requested with the monthly billing prior to the due date.

Repair bills in excess of $1,000 may be submitted on an individual check request outside of the regular billing cycle (with the Asset Manager’s prior approval) but must be paid directly to the Agent.

Closing Instructions

Sales contracts shall be closed in the following manner:

  1. Upon verbal approval of an offer, Agent will complete appropriate forms and forward to the assigned Security National Asset Manager for review and execution.
  2. The executed contracts will be returned to the Agent, who will disburse copies to purchaser, Title Company, Escrow Company and/or seller’s designated closing attorney, as appropriate for the state in which the property is located.
  3. In states where title companies are authorized by law to prepare the conveyance documents, etc., Seller will not be represented by an attorney.
  4. In all other states, the REO Closing Manager will designate an attorney who shall be responsible for communicating with buyer’s/lender’s attorney, preparing conveyance documents, etc.
  5. The title company, escrow company or closing attorney shall be directed to communicate directly with the REO Closing Department in all matters involving the closing, including, but not limited to, title questions, entity documents, conveyance documents, etc.
  6. The Listing Agent shall be responsible for follow-up with purchaser on any contract contingencies, including, but not limited to: (1) inspections, (2) mortgage pre-qualification, and (3) mortgage commitment, and shall promptly notify the REO Closing Department when same have been obtained or denied.
  7. Seller will not be responsible for any administrative fees charged by Broker.
  8. 100% forfeited deposits to be forwarded to seller.

Listing and Selling Agents’ commissions shall be deducted from the HUD and shall be disbursed to the appropriate parties by the Closing Agent. Any referral fees due will be deducted by the Closing Agent from Listing/Selling Agents’ commission as per the Addendum to Listing Agreement and disbursed by the Closing Agent to the appropriate party.
ADDENDUM TO LISTING AGREEMENT BETWEEN (Seller) and (Listing Agent) dated the ______day of ______, 200___, covering the premises known as

(In the event any provisions of this Addendum conflict in whole or in part with the terms of the Listing Agreement, the provisions of this Addendum shall control.)

Occupancy prior to Settlement. Under no circumstances shall Agent allow a purchaser, prospective purchaser or any other individual the occupancy of the premises prior to the settlement and funding of the sales contract.

Seller’s Right to Cancel Agreement. If at any time during the term of this Agreement Seller, in its sole discretion, deems it advisable to terminate this Agreement, Seller may do so upon 24-hours written notice (facsimile notices shall be considered written notices). Upon the giving of said notice by Seller, this Agreement shall terminate and shall have no further force nor effect whatsoever as to either party.

Sales Commissions – Cooperating Brokers. In the event that a sales contract is executed and consummated with a purchaser who is introduced by a cooperating agent or selling agent, the total sales commission to be paid under the Agreement shall be split between the listing agent herein and the cooperating or selling agent in accordance with local custom or in accordance with an Agreement between listing and selling agent. Seller shall not be a party to this Agreement. In no event shall the total commission payable by the Seller exceed the amount shown in this Agreement.

Sales Commission. The total commission payable by Seller pursuant to this sale shall be the greater of 6% or an agreed-upon minimum. The commission shall be paid pursuant to the terms of a separate agreement between Broker and Seller. In the event that there is a cooperating agent involved in the sale of this property, commissions must be shown as an equal split on the HUD-1.

Outstanding Invoices - Final Utility Bills. All outstanding invoices relating to the property shall be submitted for payment to the appropriate Account Officer prior to the closing of the contract. The Account Officer, in his/her discretion, shall process said invoices through the normal accounts payable procedure or shall cause the amounts due on said invoices to be deducted from the proceeds of the sale due seller at the time of closing. It shall be the responsibility of the Listing Agent to immediately notify any utility supplier to discontinue service in his/her name or in the name of Seller.

Contract Closings. After execution and delivery of a sales contract, the Agent shall communicate with the Closing Department to facilitate and expedite the closing of the sale. The Agent shall immediately ascertain the name of Buyer’s title company and/or attorney and communicate said information to the Closing Department. The Agent shall also be responsible for monitoring the progress of Buyer’s mortgage commitment and shall report to the Closing Department on a weekly basis the status of said mortgage commitment.

Referral Fee. At closing, or within five (5) days thereafter, the Listing Broker shall pay to Security National Servicing Corporation, from commissions due, a referral fee equal to 1% of the sales price. In no event shall this referral fee be considered a real estate commission. The responsibility for this referral fee shall be borne by the Listing Broker.

The undersigned approve and accept this Addendum and acknowledge this Addendum to be a part of the Listing Agreement.


(Seller) / ______
(Agent)
By: ______/ By: ______
Date: ______/ Date: ______


SN SERVICING CORPORATION

REO INITIAL PROPERTY INSPECTION/OCCUPANCY STATUS REPORT

Note: If Property consists of more than one unit, this report must be submitted for each unit .

Due within 24 hours of assignment. Please print legibly.

When completed, fax to:

, Asset Manager

Fax (916) 231-

Property Address:

Loan Number:

Broker Information

Name:

Address:

Phone:
Fax:

Property Type

SFR Multi-Family Commercial Vacant Land Other: ______

Total Number of Units: ______

Occupancy Status

Unit No.: ______ Occupied Vacant

Name / Former
Owner / Tenant / Unknown

Describe any extraordinary occupant hardship (i.e. elderly, infirm, etc.):

______

Is Cash for Keys viable? Yes No

Comments: ______

______

Property Condition: ______

Describe any dangerous conditions that require immediate attention: ______

______

Describe any unusual conditions that could impact eviction or marketing: ______

______


SN Servicing Corporation

AGREEMENT TO VACATE

Date: ______

Dear ______:

The property located at (“Property”), which you are presently occupying, was foreclosed on the ______day of ______, 20____. As a result of the foreclosure, ______(“Owner”) is the lawful owner of the Property. Consequently, as of that date, you were no longer entitled to occupy the Property.

Because you have failed to vacate the Property, Owner will seek, among other things, to have you legally evicted from the Property, and will ask the Court for money damages compensation for your continued unlawful occupation.

______wishes to resolve this matter quickly. Therefore, Owner will pay you $______provided you do the following:

1. RESPOND TO THIS OFFER WITHIN 24 HOURS OF ______(Date)

@ ______(am/pm).

2. Vacate the Property within ______days of the date of this letter and leave the Property

in a clean and habitable condition; (Property vacated by ______(date & time)

3. Allow Owner/Owner’s representatives access to the Property upon reasonable notice.

4. Provide Owner/Owner’s representatives, a true list of all persons currently residing at

the property, and update that list if any other persons begin residing at the Property. If

any other persons currently reside at the Property, they must also sign this Agreement in

order for it to be effective.

5. When you vacate the Property, the Property must be empty and no other persons may be

occupying the Property, unless Owner has made agreement in writing.

Upon determination by Owner that you have complied with all terms of this Agreement, Owner will pay you $______.

If you do not accept this offer, Owner will not make any other settlement offers and will pursue all legal remedies to the fullest extent of the law, including its right to possession of the Property, payment of all rent due since the date of foreclosure, as well as any other rights Owner has available to them under the law.

______

Owner Representative Title Date

I/We, ______, as current occupant(s) of Property located

(print name(s) clearly)

at ______, hereby accept / refuse (circle one) this offer by signing

my/our name(s) in the space indicated below.

______

name Social Security No. date home phone no.

______

name Social Security No. date home phone no.

1

SN Servicing Corporation

Competitive Marketing Analysis

Purpose: This report is not an appraisal or a home inspection. Rather, it is designed to enable the real estate broker to conduct a diligent analysis of the subject property’s condition, competition, and future marketability. Based on this Analysis, the broker is to estimate the subject property’s: