Credit Score After Bankruptcy

							FHA LOAN SCORESHEET                                                                                               (REVISED JANUARY 15, 2008)

                 BORROWER NAME

       HOUSING TO INCOME RATIO1                       [3] 31.01 - 33.99%                                                                  3

          DEBT TO INCOME RATIO1                       [4] 32.01 - 43.00%                                                                  4
                 LOAN TO VALUE                        [0] > 95.00% LTV and all cash-out refis                                             0

             SOURCE OF ASSETS2                        [5] All Savings                                                                     5
         RESERVES AFTER CLOSING                       [0] Less than one month PITI Reserves                                               0

        LOW MIDDLE CREDIT SCORE3                      [0] 529 or lower FILE CANNOT BE APPROVED                                            0

       HOUSING PAYMENT HISTORY4                       [0] No conclusive evidence of payment history (private VOR, etc.)                   0

      HOUSING PAYMENT INCREASE5                       [0] Lives with family, first time homebuyer                                         0

    HUD PRE-PURCHASE COUNSELING6                      [0] Did not attend HUD Pre-Purchase Counseling                                      0
                  BANKRUPTCY                          [0] No bankruptcies OR discharged more than 7 years                                 0

         PREVIOUS FORECLOSURE7                        [0] No foreclosures OR completed more than 7 years                                  0

        STABILITY OF EMPLOYMENT8                      [3] 2 years or more on current job or fixed income                                  3
          PART-TIME JOB HISTORY                       [0] No part-time income used with <1 year history                                   0

QUALITY SCORE*                                       PRELIMINARY
                                                        LEVEL
20 OR MORE POINTS                                         1                                                                SCORE         15
15-19 POINTS                                              2
10-14 POINTS                                              3                                            PRELIMINARY LEVEL                  2
LESS THAN 10 POINTS                                       4
                                                                                                               ADJUSTMENTS TO PRELIMINARY LEVEL



              MORTGAGE LATES                          [0] No lates in last twelve months                                                  0

     AUS APPROVAL OR STREAMLINE9                      [0] Manually Underwritten                                                           0
             LOW MIDDLE SCORE                         [0] Low Middle Score >529                                                           0
           MANUAL ADJUSTMENT                          [0] Manual adjustment field is for internal use only                                0
                                                                                                                  FINAL LEVEL*            2
                                                                                                             PRICE REDUCTION* 0.50
DATE WORKSHEET PREPARED:                                            PREPARED BY:




      AUTOMATIC LEVEL 1 (AUS APPROVAL OR STREAMLINE)
    FILE CANNOT BE APPROVED WITH LOW MIDDLE BELOW 530
NOTES
(1) MUST MEET STANDARD AND ALT-DOC REQUIREMENTS FOR POINTS IN THIS CATEGORY
(2) POINTS ONLY IF LOAN IS A PURCHASE;
(3) LOW MIDDLE SCORE OF BORROWERS THAT HAVE SCORES; IF LOW MIDDLE SCORE IS BELOW 531, LOAN IS
     AUTOMATICALLY A LEVEL 5 AND MUST USE DESIGNATED COUPON ON DAILY PRICE SHEET (USUALLY HIGHEST
     COUPON LISTED ON SHEET)
(4) NO POINTS IF PRIVATE VOR OR PRIVATE VOM
(5) NO POINTS IF LATE IN THE LAST TWELVE (12) MONTHS; MUST HAVE BEEN PAYING HOUSING PAYMENT BEING COMPARED
     TO PROPOSED PITI FOR AT LEAST TWELVE (12) MONTHS
(6) A LIST OF CREDIT COUNSELORS IS AVAILABLE ON OUR WEBSITE (WWW.FHAOK.COM) ON THE FHA TOOLS MENU
(7) IF THE PREVIOUS FORECLOSURE WAS INCLUDED IN A PREVIOUS BANKRUPTCY, ONLY LOSE POINTS IN BK CATEGORY
(8) USE LENGTH OF TIME FOR BORROWER WITH LONGEST TIME ON CURRENT JOB
(9) BROKER FINDINGS MUST BE DUPLICATED BY SECURITY ATLANTIC


                 SECURITY ATLANTIC MORTGAGE COMPANY, INC., 619 AMBOY AVENUE, EDISON, NJ 08837 - 732-738-7100 - WWW.FHAOK.COM