Joint VenturesWith NewRez

Who is NewRez?Headquartered in Philadelphia, originations are through four lending channels; Correspondent, Direct toConsumer, Retail/JV, and Wholesale.

With over 150 offices across the country and over 2,000 employees we serve thousands of customers each month.

Founded in 2008, the company and its reputation have grown rapidly under the guidance of a management team with years of experience in the mortgage industry.

After becoming a member of the Shellpoint Partners family of companies in 2011, NewRez acquired industry-leader Shelter Mortgage Company in 2014. This strategic acquisition bolstered NewRez's Joint Venture experience, adding over 30 years of success in the market.

Effective in July 2018, NewRez was acquired by New Residential Investment Corp, (NRZ), bolstering our overall reach in the mortgage industry.

Mortgage Executive Magazine’s list of 50 Best Companies to Work For

Scotsman Guide Top U.S. Mortgage

Lenders

Inc 500/5000 Fastest Growing Companies

since 2010

Licensed and originates in 49 states and D.C.

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The NewRez Advantage

Technology to Support Customer Experience

• Customizable platforms to meet both client and customer expectations

• Technology tools to support customer self-service processesas well as cater to high-touch (“concierge”) customers

• Dedicated to engaging with the latest (and future) mortgage technologies – data validation services, eClosing, etc.

Revenue Opportunity

• Fully functioning JV will drive a consistent income stream

• JV approach lessens capital investment to enter the market

Financial Strength & Strategic Alignment

• New Residential relationship provides:

• Capitalization to support strategic vision and growth

• Product - Smart, HELOC, Non-QM, Private Label MBS

• Stability• No product conflicts• Significant customer

portfolio

Proven Success & Onboarding Playbook

• 30+ years in JV experience• Focused on operational

excellence• Manufacturing quality in our

DNA• Dedicated to industry-leading

customer service

Partnered Mortgage Servicer

• SMS servicer enables ability to private label service

• Focus on quality and customer experience

• High-touch, boutique experience compared to large servicers

• Aligned to originator success –technology and process to enable cross-sell and customer retention efforts

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Who Is New Residential?New Residential Investment Corp. (NYSE: NRZ) is a leading capital provider to

the U.S. mortgage industry. They aim to drive strong risk-adjusted returns primarily through investments in three main portfolios: Mortgage Servicing

Rights & Advances, Non-Agency Securities & Associated Call Rights, & Opportunistic Investments.

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A publicly traded mortgage real estate investment trust (“REIT”) with a $5.7billion market capitalization. Their portfolio consists of high-quality assetscapable of generating stablereturns across different market environments.

The NewRez JV FamilyNewRez originates through multiple subsidiaries and joint ventures. The team is

geographically diverse and focused on a variety of lendingspecialties.

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Strength in JV PartnershipWe partner with progressive Real Estate firms that aspire to expand their current business model and aim to maximize value potential.

CreatingValue TogetherPartnership Benefits:

• Application of proven best practices

• Agile and flexible approach to meet your business model'sneeds

• Expertise in compliance of all state & federal regulatoryguidelines

• Over 30 years of successful Joint Venture integrationsand implementations with diverse partner groups

• Robust product suite-including non-QM loans- to differentiatefrom market competitors and increase conversion of leads

• Enhanced buyer experience

• Greater control & transparency of home salescycle

• Dedicated Loan Officer support for your projects

• Extended Rate Locks to help mitigate pipelinerisks

• Technology based, efficient, low debt rates

• Culture focused, strong sales platform

• Scalable platform

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Joint Venture Legal StructureJoint Venture legal structure and framework are formulated based on your goals and available resources. Proven success in compliant Joint Ventures both Standalone and Consortium that adhere strictly to RESPA requirements and HUD 10 factor balancing tests. All legal and operating agreements are in full compliance and ensure proper governance and entity independence.

JV Standalone

Will be licensed in all needed states

JV Consortium

Multiple companies partneringunder one umbrella leveraging resources,

capital, technology & marketing

Returns to members based on ownership percentage and not

contribution

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Your Timeline To ProfitabilityOur compliant, established procedures and protocols mitigate risks and reduce extra expenditures.

*For illustrative purposes only. Timeline is estimated and may vary based on state regulations and terms of transaction.

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Joint Venture SupportNewRez has a tried and true comprehensive onboarding transition

process ensuring no gap in production and no growing pains.

Experienced-Based Operational ExcellenceWe have decades of proven experience operating one of the largest origination and servicing platforms in the country to support our Joint Ventures. Using best practice methodologies, we know how to close more loans efficiently, quickly, and with the highest level of customer service.

Products & Programs: Impressive range of

programs qualify more borrowers and broaden

buyer base.

• Non-Agency suite of high balance jumbo

• Non-QM suite for those who may not qualify under government backed and agency mortgages

Origination & Processing: Borrower/Loan Officer centric

processes increase transparency and close loans

quickly.

• Processors assist LOs with welcome calls, docs & communication

• Smooth & efficient process• Accessible, solution-focused

Underwriters

• Defined, dedicated teams

Operational Structure: An established operational toolbox for rapid, compliant and efficient deployment.

• HR PayrollSetup• Servicing (MERS)• Digital Direct toConsumer

Centers• Appraisal Management• IT Systems• IT Comm. + Hardware• Vendor Management

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Marketing & Lead GenerationStrategic Growth Initiatives:

• Predictive buyer/seller technology, tested marketing initiatives supporting lead generation, brand recognition, and client support

• Professional, customized co-branded marketing materials supporting Agents, Loan Officers, & Borrowers

• Comprehensive marketing plan providing guidelines to launch venture quickly & in compliance

Borrowers• Professional Website

• Buyer EducationalMaterials• Automated Pre-Approvals

• Post Closing Campaign• Online Application Portal

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Loan Officers

• Customized Co-Branded• Marketing Materials

• Automated Social Media• State-Of-The-Art Robust CRM

• Training on Technology, Products, and Compliance

REALTOR®/Agents

• Co-Branded Buyer Educationand Program Flyers

• In-House Communication on Loan Status and Red Flags

• AutomatedBorrower Pre-Approvals

Leading Edge TechnologyWe deliver the tools to enhance the consumer experience and creates Loan Officer efficiency.

Customer Experience – Origination Technology

Dashboard NavigationFrom the dashboard, users can track the progress of their loan from application through funding.

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Pre-loaded ContactsThe Loan Officer's and Processor's contact information will be automatically added to the user's account.

NewRez has a flexible Online Application ready to customize to meet your expectations - tailored to your market and your desired experience.

• Customize logo and other graphics• Completely configurable workflow• Dynamic product availability and pricing• Incorporate eligibility criteria

Our EzHub mobile app allows users to stay up to date on their loan's status from application to funding. No matter where they are, users can receive updates on their loan or contact their dedicated Loan Officer for assistance.

Easy Document UploadingUpload photos and files needed to process loan

Customer Experience – Origination Technology

“My clients really love it and enjoy the ease of uploading documents especially. My team also likes the ease of the system and being able to retrieve documents quickly. It’s a BIG upgrade in security for our clients and is also much easier for them.”

- #1 Top Producing Loan Officer

“When are clients are very active with the portal, it has had a HUGE positive impact on speeding up the process. When we receive conditioned docs before we even request them, it makes life on the processing side so much easier.”

- Loan Officer Assistant / Production Support to TopProducing Team

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• Post-Application Consumer Portal to communicate with borrower, deliver status updates, collect authorizations and documents, and electronically sign disclosures

- Customize logo, graphics, and other style elements for consistency with other digital tools- WalkMe guided tutorial software, including videos, weth tooltip-style “help” content

throughout the process. - Can create borrower tasks (“to-dos”) to collect additional data, authorizations, or other

specific communication/checklist• Proprietary product designed around tight integration with POS/LOS ensuring data consistency and

sales efficiency by managing process through a single platform

ProgressiveTechnology Impact• Deliver leading edge tools that enhances the consumer

experience, automates the loan process, and creates Loan Officer efficiency

• Automation tools and advanced workflow createsexception-based processing with less manual work and lowers originationcosts

• Increases Application Volume, Conversation Rateand Market Share

• Allows for paperless transactions integrating with our in-house systems

• Fosters Agent, Consumer, and Loan Officer Communicationand Collaboration

ADDENDUM: PRODUCT MIX

Leverage NewRez’s Mortgage ProductsVariety of loan products to address the needs of borrowers.

Our wide array of products include jumbo and unique non-agency programs that fill critical service gaps in the market, as well as

government and agency.

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SMART Series* of Non-QMProducts

* SMART Series products are portfolio pooled and securitized20

• Financing up to $3M

SmartSelf: Bank statement program for self-employed

• Use 12 or 24 month bank statements or asset-based income to qualify

• No tax transcripts or tax returns required

• 620+ FICO

SmartVest: Investor cash flow mortgage• Financing up to $2M• Fixed rate and ARM interest only options• DTI not calculated - use cash flow analysis• No tax transcripts or tax returns required

• Allows up to 20 financed properties

SmartCondo: Financing for condo properties• Financing up to $2.5M• Fixed and ARM loan terms• Single entity ownership up to 49%• Up to 50% commercial space allowed

SmartEdge: Non-QM jumbo• Financing up to $3M• Interest only options for 30 and 40 year fixed rate and

5/1, 7/1, & 10/1 ARM loans

• Qualify using asset based income• 620+ FICO

SmartTrac: A second chance to qualify for amortgage• Up to $1M cash-out• Fixed rate and ARM interest only options• Multiple 30-day mortgage lates allowed• 12 mo. seasoning on BK, short sale, and deed-in-lieu

SmartFunds: Eligible assets qualification• Financing up to $3M• Fixed and ARM options available• No employment or income verification needed• Min $500K ‘eligible assets’ required to qualify

Innovative SMART Series

Our SMART Series of Non-QM loans are designed to help increase yourcompetitive position and serve borrowers seeking a loan with characteristics that are unavailable for Qualified Mortgage Loan Products (QM).

Jumbo Series & Agency ProductsIt’s time to stop turning away qualified jumbo buyers simply because they don’t fitinto the narrow guidelines for conventional loans. Our strong capital position means you can offer borrowers the jumbo loan they need with complete confidence.

Generous Jumbo Loans

Dream Big Jumbo Full Jumbo Series• Up to $3M loan amounts• LTVs as high as 90%• Owner Occupied, Second Homes, and Investment• Fixed, ARMs, and interest only available• 661+ FICO• DTI max 43%• No PMI options with LTV < 80%

• Purchase, R/T Refinances, Cash-Out Refinances

• Up to $3M loan amounts for O/O, $2.5M for 2nd homes, $2M for N/O/O

• 100% gift funds allowed for < 80% LTV• Up to 90% LTV with DTIs up to 43%• Non-occupant co-borrowers allowed• Allows non-warrantable condos• Only 1 appraisal required up to $1.5M

High Balance Extra• Up to $750,000 loan amounts with less documentation• FICOs down to 680• Min. loan amount $1.00 above conforming county limits• Cash-out up to $500,000• Max 90% LTV with no Ml required

Fannie Mae& Freddie Mac

Our position as a direct seller/servicer to Fannie Mae & Freddie Mac allows us to provide competitive pricing, expanded guildelines, and a smooth process from application to funding.

Conventional• Strong LPMI to 97% LTV• Up to 97% LTV for FTHBs• Custom loan terms available (10 - 30 years)• MI only required for LTVs greater than 80%• No max LTV overlay/DTI per AUS

• Offers TX (a)(6) and TX (f)(2) Products

HomePossible & HomeReady• Purchase & refinance loans up to 97% LTV• Gift and grant funds allowed• 620+ FICO• 80% Area Median Income (AMI)

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Expanded Government LoansWe start with the standard government guidelines and expand them to a wider range of workable solutions for more families, depending on their needs and circumstances.

Expanded Government Loans

VA & IRRRLs FHA & Streamlines• Purchases, R&T and Cash Out Refis: 500+ FICO• Streamlines: Non-Credit Qualifying 560+ FICO; Credit

Qualifying 500+ FICO

• Non-occupant co-borrowers allowed• Select state bond programs available• 203(k) Limited and Standard Renovation programs

• Up to 100% financing on purchases perAUS• 580+ FICO VA IRRRLs: No income, no

appraisal, 36 mo. recoup, unlimited LTV

• DTI as high as 60%• Select state bond programs available

USDA & Streamlines• Up to 100% financing• Streamline refinance with no appraisal required• Streamline-Assist available• No minimum loan amount• 620+ FICO

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© 2019 NewRez LLC. All Rights Reserved. This communication does not constitute a commitment to lend or the guarantee of a specified interest rate. All loan programs and availability of cash proceeds are subject to credit, underwriting and property approval. Programs, rates, terms and conditions are subject to change without notice. Other restrictions apply. NewRez LLC, 1100 Virginia Drive, Suite 125, Fort Washington, PA 19034. Corp NMLS#3013 (www.nmlsconsumeraccess.org).

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Our MissionEXCEED THE EXPECTATIONS

OF OUR

RESIDENTIAL MORTGAGE BORROWERS & BUSINESS PARTNERS

through SUPERIOR SERVICE,

SIMPLE PROCESSES, &

EFFECTIVE COMMUNICATIONS.

THANK YOU.

Joint VenturesWho is NewRez?The NewRez AdvantageWho Is New Residential?Slide Number 5Slide Number 6Creating �Value TogetherJoint Venture Legal StructureSlide Number 9Slide Number 10Experienced-Based Operational ExcellenceMarketing & Lead GenerationLeading Edge TechnologyCustomer Experience – Origination TechnologyCustomer Experience – Origination TechnologySlide Number 16Slide Number 17Leverage NewRez’s Mortgage ProductsSMART Series* of Non-QM ProductsJumbo Series & Agency ProductsExpanded Government LoansTHANKYOU.