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70- 1953 Michigan - BPO

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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       38527554                                          Loan Number               205
                                                                  Client Project ID         PoolOct#1
 Client Provided Data
 Client    VERTICAL FINANCIAL GROUP                                     Loan #           205
 Branch    IRVINE,CA                                                    Attention        GAITA, TERI
 Fax/Email Judy@verticalmtg.com                                         Borrower         MARTINEZ, NESTOR
 Address 1953 MICHIGAN DR                                               Property type    Single Family Dwelling
 City      KISSIMMEE                                                    State/Zip        FL      34759
 Completed by: Perry, Jeff                                              Company:         Florida Results, LLC                    Phone #: (407)705-5119

 Neighborhood Information
 Neighborhood Type                  Suburban                            Property Values                       Stable
 Price Range                        $28,000-$97,000                     Vandalism/vacant properties           N
 Marketing time (days)              95                                  Market trend (Appr/Depr %)            0
 Predominant Occupancy              Owner
 Similar Homes Sold Prior Month     6                                   # of Listings in Direct Competition 47
 Zoning                             N/A

 Subject Property Information
 Curb Appeal                Average                                     Estimate cost to cure deferred maintenance         $0
 Conformity to neighborhood Appropriate Improvement                     Any adverse influences noted (busy street, etc)    No
 Condition                  Average                                     Market Rent                                        $800
 Currently Occupied? Yes/No Yes                                         If not occupied, is subject secured?
 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? N           Listed in last 12 mos.?           N               Listing date                            Listing price
 MLS # N/A                             Listing Agency N/A                                                                        Agency Phone # N/A

      Previous Sale Price          Previous Sale Date           Buyer                                              Seller
 1    $174,900                     10/4/2006                    MARTINEZ NESTOR                                    MARONDA HOMES INC OF FLORIDA
 2    $174,900                     9/29/2006                    MARTINEZ NESTOR                                    N/A
 3    $55,000                      1/25/2006                    MARONDA HOMES INC OF FLORIDA                       ARIAS ARCHIMEDES L; ARIAS ARISTOTLE L


 Neighborhood and Subject Property Comments:
Subject is located in an area of similar maintained homes. Close to shopping, schools, major roads, public transportation. Subject is located in an area dominated
by distressed sales. Short sales and bank owned are prevalent and may cause a decline in market values.es within the subject's immediate area. The comps used in
this report were the best available. The comps are similar to the subject in design, location, quality of construction, and condition. Subject is located in an area of
similar maintained homes. Close to shopping, schools, major roads, public transportation. Subject is located in an area dominated by distressed sales. Short sales
and bank owned are prevalent and may cause a decline in market values.es within the subject's immediate area.




 Comparable Listings
                       Subject                      Listing 1                                Listing 2                             Listing 3
 Street Address       1953 MICHIGAN DR             1943 Michigan Dr                         1921 Manatee Dr                       407 Manitoba Way
 City                 KISSIMMEE                    Kissimmee                                Kissimmee                             Kissimmee
 State/Zip            FL       34759               FL         34759                         FL         34759                      FL         34759
 Data Source                                       MLS S4661009                             MLS L4627997                          MLS S4678083
 # Units              1                            1                                        1                                     1
 Listing Type                                      Unspecified                              Unspecified                           Unspecified
 List Price                                        $49,900                          -2500   $52,000                      -2600    $54,900                        -2700
 Original List Price  $0                           $54,900                                  $52,000                               $54,900
 Days on Market       N/A                          343                                      6                                     4
 Distance (mi)        N/A                          0.06                                0    0.04                            0     0.3                                0
 Neigh. Type          Suburban                     Suburban                            0    Suburban                        0     Suburban                           0
 Site Size (Ac)       0.21                         0.19                                0    0.22                            0     0.27                           -1300
 View                 No                           Yes                             -5000    Yes                         -5000     Yes                            -5000
 Design               Contemporary                 Contemporary                        0    Contemporary                    0     Contemporary                       0
 Condition            Average                      Average                             0    Average                         0     Average                            0
 Age (Years)          4                            5                                   0    5                               0     5                                  0
 Bedrooms             3                            3                                   0    3                               0     3                                  0
 Baths                2                            2                                   0    2                               0     2                                  0
 Living Area (s.f.)   1452                         1394                                0    1252                         2000     1674                           -2200
 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               2                            2                                   0    2                               0     2                                  0
 Adjusted Values       Net Adj (%)                          -15%                   42400            -10.8%              46400             -20.4%                 43700
                       Gross Adj (%)                         15%                                     18.5%                                 20.4%


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

 Listing #1: Short sale
 Listing #2: Bank Owned
 Listing #3: Bank Owned
                                                      9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




 Order ID         38527554                                     Loan Number            205
                                                               Client Project ID      PoolOct#1

 Comparable Sales

                       Subject                    Sale 1                                Sale 2                             Sale 3
 Street Address       1953 MICHIGAN DR           315 Michigan Ln.                      2212 Mystic Ring Loop              1913 Michigan Ct
 City                 KISSIMMEE                  Kissimmee                             Kissimmee                          Kissimmee
 State/Zip            FL       34759             FL        34759                       FL        34759                    FL        34759
 Data Source                                     MLS s4672492                          MLS s4673456                       MLS o4998178
 # Units              1                          1                                     1                                  1
 Sale Type                                       Shortsale                             Shortsale                          REO
 Financing Type                                  Cash                                  Cash                               Cash
 List Price                                      $49,900                               $40,000                            $57,000
 Sale Price                                      $49,900                           0   $50,000                        0   $58,100                           0
 Sale Date                                       09/20/2010                        0   09/17/2010                     0   09/02/2010                        0
 Days on Market       N/A                        11                                    2                                  10
 Distance (mi)        N/A                        0.18                              0   0.47                          0    0.17                              0
 Neigh. Type          Suburban                   Suburban                          0   Suburban                      0    Suburban                          0
 Site Size (acres)    0.21                       0.18                            700   0.08                       2800    0.19                              0
 View                 No                         No                                0   No                            0    No                                0
 Design               Contemporary               Contemporary                      0   Contemporary                  0    Contemporary                      0
 Condition            Average                    Average                           0   Average                       0    Average                           0
 Age (Years)          4                          6                                 0   10                          600    6                                 0
 Bedrooms             3                          3                                 0   3                             0    3                                 0
 Baths                2                          2                                 0   2                             0    2                                 0
 Living Area (s.f.)   1452                       1455                              0   1245                       2100    1785                          -3300
 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               2                          2                                 0   2                             0    2                                 0
 Adjusted Values       Net Adj (%)                       1.4%                  50600           11%               55500            -5.7%                 54800
                       Gross Adj (%)                     1.4%                                  11%                                 5.7%

 Comments regarding the comparability of sales to the subject specifically addressing their overall similarity (equal/superior/inferior)
 Sales #1: Short sale, all cash
 Sales #2: Short sale, all cash
 Sales #3: Bank owned, All cash

 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

THIS ANALYSIS IS COMPLTED FROM AN REO PERSPECTIVE; QUICK SALE VALUE IS EQUIVALENT TO A 30 DAY MARKET VALUE.




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

 “As Is” Value:
                                 $54,000                                    $46,000                                   $54,000

 “As Repaired” Value:
                                 $54,000                                    $46,000                                   $54,000

 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    38527554               Loan Number         205
                                   Client Project ID   PoolOct#1


Location Map




                       This map can be viewed interactively by clicking here.




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    38527554                 Loan Number         205
                                     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    38527554                                   Loan Number         205
                                                       Client Project ID   PoolOct#1

Comparable Listing 1 1943 Michigan Dr, Kissimmee, FL 34759




Comparable Listing 2 1921 Manatee Dr, Kissimmee, FL 34759




Comparable Listing 3 407 Manitoba Way, Kissimmee, FL 34759
                                                9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID   38527554                                      Loan Number         205
                                                         Client Project ID   PoolOct#1

Comparable Sale 1     315 Michigan Ln., Kissimmee, FL 34759




Comparable Sale 2     2212 Mystic Ring Loop, Kissimmee, FL 34759




Comparable Sale 3     1913 Michigan Ct, Kissimmee, FL 34759

				
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