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211- 20039 Indian 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      37814222                                          Loan Number             n/a
                                                                Client Project ID       07272010

Client Contact Info
Client     VERTICAL FINANCIAL GROUP                                  Branch             IRVINE,CA
Attention DAVIS, JUDY                                                Fax/Email          Judy@verticalmtg.com

Subject Property Information
Address: 20039 INDIAN , REDFORD, MI 48240
Borrower/Owner: n/a, n/a                                                            Subject Property Type:         Single Family Dwelling
Is subject vacant? N                                                                If vacant, is subject secured? Y
Condition/Curb Appeal: Average                  Average                             Estimated deferred maintenance costs:             $0
Has subject been listed in the last 12 months? N                                    Listing Date:                      Listing Price:
Has subject transferred in last 12 months?      No                                  Sale Date:                         Sale Price: $0
Subdivision Name: N/A                                                               Market Rent: $900
Is there a guest house? No        Guest house sq ft: N/A                            Is subject a Condo/PUD? No

Neighborhood Information
Location:                  Suburban                                                 Marketing Time for neighborhood: 90
Pride of Ownership:        Average                                                  Neighborhood Demand/Supply:      Oversupply
Neighborhood Price Range: $10,000-$50,000                                           Neighborhood Trend:              Depreciating
Predominant Occupancy:     Owner
Similar Homes Sold Prior Month: 0                                                   # of Listings in Direct Competition: 5
Zoning:                    N/A

Comparable Listings
                                         Subject                              Listing 1                          Listing 2                         Listing 3
Address                        20039 INDIAN                      18520 GAYLORD                       19701 SUMNER                     25521 PEMBROKE
Data Source                                                      MLS 210059767                       MLS 210039979                    MLS 210060792
# Units                        1                                 1                                   1                                1
Listing Type                                                     Unspecified                         Unspecified                      Unspecified
Days on Market                 N/A                               68                                  117                              65
List Price                                                       $28,000                             $20,000                          $30,000
Original List Price            $0                                $28,000                             $20,000                          $30,000
Distance (miles)               N/A                               0.98                                0.96                             0.93
Site Size (acres)              0.12                              0.23                                0.19                             0.21
View                           No                                No                                  No                               No
Age                            78                                71                                  70                               69
Condition                      Average                           Average                             Average                          Average
Square Footage                 1866                              1604                                1680                             1536
Bedrooms                       3                                 4                                   3                                4
Bathrooms                      1                                 2                                   1.5                              2
Garage/Pool                    0               No                2           No                      2           No                   1           No
Basement / % Finished          Unfinished      %                 None        N/A                     Unfinished %                     Finished    71%

Comparable Sales
                                              Subject                          Sale 1                             Sale 2                            Sale 3
Address                         20039 INDIAN                     20097 FIVE POINTS                  15352 GARFIELD                    20491 DALBY
Data Source                                                      MLS 210030266                      MLS 210021000                     MLS 210015753
# Units                         1                                1                                   1                                1
Sale Type                                                        REO                                 REO                              REO
Days on Market                  N/A                              30                                 11                                36
List Price                                                       $18,905                            $20,000                           $33,000
Sale Price/Date                                                  $17,370            04/20/2010      $20,370          03/23/2010       $27,300           04/21/2010
Distance (miles)               N/A                               1.22                               2.8                               1.07
Site Size (acres)              0.12                              0.16                               0.41                              0.2
View                           No                                No                                 No                                No
Age                            78                                73                                 85                                61
Condition                      Average                           Average                            Average                           Average
Square Footage                 1866                              1680                               1502                              1509
Bedrooms                       3                                 3                                  3                                 4
Bathrooms                      1                                 2                                  1.5                               1.5
Garage/Pool                    0          No                     1               No                 1             No                  2              No
Basement / % Finished          Unfinished %                      None            N/A                Unfinished    %                   Unfinished     %

Broker Comp Comments

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

Listing #1: Sided bungalow with 2 car garage, no basement, government owned, sold as is. REO
Listing #2: Brick/sided colonial with basement, 2 car garage, government owned. REO
Listing #3: Aluminum sided bungalow with basement, 1 car garage, short sale, sold as is.

Sale #1:   Aluminum sided ranch with 1 car garage, no basement, government owned, sold as is. REO
Sale #2:   Sided bungalow with basement, 1 car garage, government owned, sold as is. Superior in lot size. REO
Sale #3:   Sided bungalow with basement, 2 car garage, government owned, sold as is. REO

Broker Value Opinion

Normal Market Value                                               Quick Sale Value
                                    $25,000                                                   $20,000                        As of:     08/02/2010
“As Is”:                                                          “As Is”:
Normal Market Value                                               Quick Sale Value
“As Repaired”:                      $25,000                       “As Repaired”:              $20,000
                                                      9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




 Order ID      37814222                                        Loan Number           n/a
                                                               Client Project ID     07272010


 Additional Broker Comments
The market in this area is currently declining at a rate of 1.5-2% per month. This is a result of the poor economy throughout the state. Some comps are over 1
mile in the same city due to a shortage of comparables that are the same size and age of the subject. NONE Sided colonial with basement, no garage, roof and
windows are average. Located in a declining market. . **QC NOTE: This evaluation reflects an REO perspective.




 Exterior Repair Addendum

 Item Category                    Cost to Cure       Comments
 Roof                             $0                 AVE
 Exterior/Siding                  $0                 AVE
 Foundation                       $0                 AVE
 Construction in Progress         $0                 N/A
 Outbuildings                     $0                 AVE
 Yard Maintenance                 $0                 AVE
 Other                            $0                 NONE
 Total                            $0

 Comparable Location Map




Broker Price Opinion offers a value opinion derived from analysis of local market data and subject property information. Comparable market
data for the area is provided by a local Real Estate Broker. 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 she/he drove by the property and 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    37814222                       Loan Number         n/a
                                           Client Project ID   07272010


Subject Property Satellite Image




Subject Photo




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




Order ID    37814222                 Loan Number         n/a
                                     Client Project ID   07272010


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   37814222                               Loan Number          n/a
                                                  Client Project ID    07272010

Comparable Listing 1 18520 GAYLORD, REDFORD, MI 48240




Comparable Listing 2 19701 SUMNER, REDFORD, MI 48240




Comparable Listing 3 25521 PEMBROKE, REDFORD, MI 48240
                                             9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID   37814222                                  Loan Number         n/a
                                                     Client Project ID   07272010

Comparable Sale 1     20097 FIVE POINTS, REDFORD, MI 48240




Comparable Sale 2     15352 GARFIELD, REDFORD, MI 48239




Comparable Sale 3     20491 DALBY, REDFORD, MI 48240

				
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