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					                                                        9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




 Order ID       38527528                                          Loan Number              147
                                                                  Client Project ID        PoolOct#1
 Client Provided Data
 Client    VERTICAL FINANCIAL GROUP                                     Loan #          147
 Branch    IRVINE,CA                                                    Attention       GAITA, TERI
 Fax/Email Judy@verticalmtg.com                                         Borrower        BOWDEN, DAVID
 Address 909 S PINE ST                                                  Property type   Single Family Dwelling
 City      LAKE WORTH                                                   State/Zip       FL      33460
 Completed by: Golansky, Ronald                                         Company:        REMAX PROS Ronald Golansky              Phone #: (703)898-5354

 Neighborhood Information
 Neighborhood Type                 Suburban                             Property Values                       Depreciating
 Price Range                       $18,000-$59,000                      Vandalism/vacant properties           Y
 Marketing time (days)             180                                  Market trend (Appr/Depr %)            -20
 Predominant Occupancy
 Similar Homes Sold Prior Month    0                                    # of Listings in Direct Competition 2
 Zoning                            N/A

 Subject Property Information
 Curb Appeal                Average                                     Estimate cost to cure deferred maintenance        $0
 Conformity to neighborhood Fair                                        Any adverse influences noted (busy street, etc)   No
 Condition                  Fair                                        Market Rent                                       $200
 Currently Occupied? Yes/No No                                          If not occupied, is subject secured?              Y
 Is there a guest house?    No                                          Guest House Sq Ft                                 N/A
 Subdivision Name           N/A
 Current Listing and Five Year Sale History
 Subject currently listed? Y           Listed in last 12 mos.?  N                        Listing date      7/5/2009             Listing price  $39,900
 MLS # N/A                             Listing Agency Micheal Bowden                                                            Agency Phone # (561)714-0700

      Previous Sale Price          Previous Sale Date          Buyer                                              Seller
 1    $270,000                     12/21/2005                  BOWDEN DAVID                                       TERRA ROSA LLC
 2    $270,000                     11/23/2005                  BOWDEN DAVID                                       N/A
 3


 Neighborhood and Subject Property Comments:
the subject is abandoned and neglected, house located on 0.55 lot in distress area. Next side of the street is Cementary.
The subject is boarded and not livable condition. Property in need of major renovation and best use is a tear down and rebuild.
Research parameters were expanded beyond the typical guidelines(lot size, age GLA), with attempts to locate most similar propertiesThe subject is listed for 497
days, for $39K, and currently assessed for $20K, which ireflect almost only lot value. subject is in fair, unlivable condition none neglected, fair condition, located
next to Cemantary, not gated, distress area, 82 years old




 Comparable Listings
                       Subject                      Listing 1                               Listing 2                             Listing 3
 Street Address       909 S PINE ST                111 S B St                              108 S E St                            615 S J St
 City                 LAKE WORTH                   LAKE WORTH                              LAKE WORTH                            LAKE WORTH
 State/Zip            FL       33460               FL         33460                        FL         33460                      FL         33460
 Data Source                                       MLS R3125675                            MLS R3126968                          MLS R3140339
 # Units              1                            1                                       1                                     1
 Listing Type                                      Unspecified                             Unspecified                           Unspecified
 List Price           $39,900                      $20,000                         -1000   $25,000                      -1200    $34,900                        -1700
 Original List Price  $99,900                      $20,000                                 $25,000                               $34,900
 Days on Market       N/A                          22                                      114                                   59
 Distance (mi)        N/A                          0.67                                0   0.75                             0    0.67                               0
 Neigh. Type          Suburban                     Suburban                            0   Suburban                         0    Suburban                           0
 Site Size (Ac)       0.55                         0.2                                 0   0.19                             0    0.23                               0
 View                 No                           No                                  0   No                               0    No                                 0
 Design               Colonial                     Colonial                            0   Colonial                         0    Colonial                           0
 Condition            Fair                         Average                         -1000   Average                      -1000    Average                        -1000
 Age (Years)          82                           74                               -800   88                               0    64                             -1800
 Bedrooms             2                            3                               -1000   3                            -1000    3                              -1000
 Baths                2                            1                                1000   1                             1000    1                               1000
 Living Area (s.f.)   1384                         1120                             2600   1042                          3400    1408                               0
 Basement/ % Finished None           N/A           None           N/A                  0   None           N/A               0    None           N/A                 0
 Pool                 No                           No                                  0   No                               0    No                                 0
 Garage               1                            1                                   0   0                             1000    0                               1000
 Adjusted Values       Net Adj (%)                          -1%                    19800            8.8%                27200             -10%                  31400
                       Gross Adj (%)                        37%                                    34.4%                                 21.5%


 Comments regarding the comparability of listings to the subject specifically addressing their overall similarity (equal/superior/inferior)

 Listing #1: REO, similar distress area, smaler GLA, smaller lot, AS-IS, Fixer upper
 Listing #2: REO, similar distress area, smaler GLA, smaller lot, AS-IS
 Listing #3: REO, similar distress area, similar GLA, smaller lot, AS-IS, boarded
                                                      9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




 Order ID         38527528                                     Loan Number            147
                                                               Client Project ID      PoolOct#1

 Comparable Sales

                       Subject                    Sale 1                                Sale 2                              Sale 3
 Street Address       909 S PINE ST              112 N D Str                           1522 S K St                         412 N Dixie Hway
 City                 LAKE WORTH                 LAKE WORTH                            LAKE WORTH                          LAKE WORTH
 State/Zip            FL       33460             FL        33460                       FL        33460                     FL        33460
 Data Source                                     MLS R3098380                          MLS R3134439                        MLS R3110055
 # Units              1                          1                                     1                                   1
 Sale Type                                       REO                                   REO                                 REO
 Financing Type                                  Cash                                  Cash                                Cash
 List Price           $39,900                    $25,000                               $20,000                             $19,800
 Sale Price                                      $25,000                           0   $20,000                         0   $32,000                           0
 Sale Date                                       05/17/2010                        0   11/05/2010                      0   08/03/2010                        0
 Days on Market       N/A                        52                                    73                                  81
 Distance (mi)        N/A                        0.91                              0   0.88                           0    1.25                             0
 Neigh. Type          Suburban                   Suburban                          0   Suburban                       0    Suburban                         0
 Site Size (acres)    0.55                       0.18                              0   0.43                           0    0.2                              0
 View                 No                         No                                0   No                             0    No                               0
 Design               Colonial                   Colonial                          0   Colonial                       0    Colonial                         0
 Condition            Fair                       Average                       -1000   Average                    -1000    Average                      -1000
 Age (Years)          82                         81                                0   65                         -1700    79                               0
 Bedrooms             2                          2                                 0   3                          -1000    3                            -1000
 Baths                2                          2                                 0   2                              0    2                                0
 Living Area (s.f.)   1384                       1160                           2200   1400                           0    1512                         -1300
 Basement/ % Finished None           N/A         None          N/A                 0   None           N/A             0    None          N/A                0
 Pool                 No                         No                                0   No                             0    No                               0
 Garage               1                          0                              1000   0                           1000    0                             1000
 Adjusted Values       Net Adj (%)                        8.8%                 27200           -13.5%             17300            -7.2%                29700
                       Gross Adj (%)                     16.8%                                  23.5%                              13.4%

 Comments regarding the comparability of sales to the subject specifically addressing their overall similarity (equal/superior/inferior)
 Sales #1: REO, similar distress area, smaler GLA, smaller lot, AS-IS, boarded
 Sales #2: REO, similar distress area, same GLA, similar lot, sold recently, most proper and similar comps to subject, HANDYMAN SPACIAL, boarded
 Sales #3: REO, similar distress area, smaler GLA, smaller lot, HANDYMAN SPACIAL

 RECONCILIATION
 Based upon the description of the subject and the market data presented within the report, LPS Valuation Solutions has derived values based on the following
 market conditions as of: 03/23/2009
                          11/17/2010

**QC NOTE: This evaluation reflects an REO perspective. For the purpose of this report, the quick sale value ratio equates to a more conservative (30 day)
perspective.




                                  Reconciled Market Sale Value              Reconciled Quick Sale Value               Broker’s Value

 “As Is” Value:
                                 $25,000                                    $18,000                                   $25,000

 “As Repaired” Value:
                                 $25,000                                    $18,000                                   $25,000

 Exterior Repair Addendum

 Item Category                    Cost to Cure      Comments
 Roof                             $0
 Exterior/Siding                  $0
 Foundation                       $0
 Construction in Progress         $0
 Outbuildings                     $0
 Yard Maintenance                 $0
 Other                            $0
 Total                            $0


Field Expert offers an opinion of value by combining a local broker’s price opinion (BPO), as filtered through LPS’ Field Expert rules-based
valuation model, and scrutinized by an LPS quality-control analyst, along with LPS’ own extensive data, and external research resources.
Information on the subject property is obtained via MLS, county records, personal files, or it may be provided to LPS by the client. In some cases,
information on the subject property may be limited or unavailable. In these instances, the information is provided by the Real Estate Professional's
exterior physical inspection of the subject. The report is based upon data that LPS deems reliable, however, no guarantee or warranty is provided.
LPS does not provide opinions on, nor assume responsibility for the existence of any environmental, structural, or title related defects associated
with the subject property. This analysis and evaluation of an interest in real property for ownership or collateral purposes is
prepared for the above named financial institution to be used for internal purposes only. This document is not an appraisal and
is intended for use only for loan transactions valued at $250,000 or less, as required by Title XI of FIRREA. The agent submitting
this report represents that he/she drove by the subject property and that he/she has no interest in the property.
           
Notwithstanding any preprinted language to the contrary, this opinion is not an
appraisal of the market value of the property. If an appraisal is desired, the
services of a licensed or certified appraiser must be obtained.
                           9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID    38527528               Loan Number         147
                                   Client Project ID   PoolOct#1


Location Map




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Satellite Image
                             9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID    38527528                 Loan Number         147
                                     Client Project ID   PoolOct#1

Subject Photo




Street Scene Photo




Address Verification Photo
                                             9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID    38527528                                 Loan Number         147
                                                     Client Project ID   PoolOct#1

Comparable Listing 1 111 S B St, LAKE WORTH, FL 33460




Comparable Listing 2 108 S E St, LAKE WORTH, FL 33460




Comparable Listing 3 615 S J St, LAKE WORTH, FL 33460
                                             9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID   38527528                                  Loan Number         147
                                                     Client Project ID   PoolOct#1

Comparable Sale 1     112 N D Str, LAKE WORTH, FL 33460




Comparable Sale 2     1522 S K St, LAKE WORTH, FL 33460




Comparable Sale 3     412 N Dixie Hway, LAKE WORTH, FL 33460
                       9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




OrderID     38527528            Loan Number           147
                                Client Project ID     PoolOct#1
 
Additional Photo




 
Additional Photo




 

				
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