Granite Loan Solutions acquired a portfolio of over 2,000 loans as of May 21, 2012 totaling $159.7 million, secured by properties valued at $77.3 million across 42 states. The loans covered a range of property values from $15,000 to $80,000, loan-to-value ratios from 150-225%, and portfolio sizes from 50 to 1,000 loans. Florida, Ohio, Indiana, Georgia and Illinois made up the largest shares geographically.

1. GRANITE LOAN SOLUTIONS HISTORICAL PORTFOLIO ACQUISITION CHARACTERISTICS
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Stratification of Portfolio Acquired by Granite Loan Solutions as-of May 21 , 2012
Property Value Distribution Occupancy Distribution
Summary of Loans Acquired by Granite Loan Solutions
Loan Count* 2156 Number of States 42
Total BPO $77,277,010 Total UPB $159,729,991
Average BPO $35,843 Average UPB $74,086
Standard Deviation in BPO $33,115 Standard Deviation in UPB $41,076
Property Value Geographic Distribution
$12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$0
FL OH IN GA IL PA TN AL MO TX NY WI MS NC OK MI SC KY AZ KS LA NV MN IA CO AR MD CA VA NE
• Property Value Range: Approx. $15,000 to $80,000
• Geographic Dispersion: Nationwide
• Loan-To-Value (LTV) Range: Approx. 150% to 225%
• Portfolio Size Range: Approx. 50 to 1,000
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• Loan Type: 1 Liens
* Actual loans acquired are 2166. Statistical analysis was performed only on loans with complete details available
**Note: Average Delinquent Taxes on notes acquired to-date have been approximately $1500