Sierra Pacific Mortgage Correspondent Process Flow August 15th, 2013 Process Process Flow Seller originates loan and issues all disclosures including TIL Seller logs into Sierra Pacific Website Register Loan Run DU Lock Loan

Order Appraisal Upload Underwriting Package Sierra Pacific Mortgage Date Slide 2 Process Process Flow continued Loan Set Up (SPM) Seller disclosures reviewed Seller advised of missing documentation or compliance issues Underwriting

Issues disposition Seller submits conditions Clear to close issued No prior to funding conditions Sierra Pacific Mortgage Date Slide 3 Process Process Flow-continued (blue highlighted different to wholesale) - Closing Seller requests closing docs from Sierra Pacific

or a Sierra Pacific approved provider Seller or fulfillment service provider approves HUD-1 and requests wire Closed Loan Submission to Dallas CLD center Seller or fulfillment service uploads closed loan package Sierra Pacific Mortgage Date Slide 4 Process Process Flow continued

Warehouse bank submits collateral package to Correspondent Operations in Dallas Loan Purchase Process Pre-Purchase Auditor audits closed loan file Compliance Closing documents Closing conditions Sierra Pacific Mortgage Date Slide 5 Process

Process Flow continued Pre-Purchase Auditor communicates the conditions to Seller Seller uploads conditions Pre-Purchase Auditor purchases loan Wire is sent to Sellers warehouse bank Purchase Advice is provided to Seller Sierra Pacific Mortgage Date Slide 6

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