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268 3604 Normandy 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      37688346                                         Loan Number             n/a
                                                               Client Project ID       07132010_B

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

Subject Property Information
Address: 3604 NORMANDY ROAD , CLEVELAND, OH 44120
Borrower/Owner: n/a, n/a                                                           Subject Property Type:         Multi-Family
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? Y                                   Listing Date:                     Listing Price: $140,000
Has subject transferred in last 12 months?      No                                 Sale Date: 04/15/2005             Sale Price: $168,000
Subdivision Name: N/A                                                              Market Rent: $0
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: 144
Pride of Ownership:        Average                                                 Neighborhood Demand/Supply:      Oversupply
Neighborhood Price Range: $27,000-$165,000                                         Neighborhood Trend:              Depreciating
Predominant Occupancy:     Owner
Similar Homes Sold Prior Month: 1                                                  # of Listings in Direct Competition: 7
Zoning:                    N/A

Comparable Listings
                                        Subject                              Listing 1                           Listing 2                         Listing 3
Address                        3604 NORMANDY ROAD               3564 Normandy                       3650 Daleford                     3521 Normandy
Data Source                                                     MLS 3149650                         MLS 3133858                       MLS 3097031
# Units                        2                                2                                   2                                 2
Listing Type                                                    Unspecified                         Unspecified                       Unspecified
Days on Market                 N/A                              12                                  62                                178
List Price                     $140,000                         $47,000                             $54,400                           $75,000
Original List Price            $90,000                          $47,000                             $54,400                           $72,500
Distance (miles)               N/A                              0.08                                0.1                               0.16
Site Size (acres)              0.13                             0.13                                0.12                              0.13
View                           No                               No                                  No                                No
Age                            80                               84                                  81                                80
Condition                      Average                          Average                             Average                           Average
Square Footage                 2765                             2849                                2790                              2250
Bedrooms                       6                                5                                   6                                 4
Bathrooms                      3                                3                                   2                                 2
Garage/Pool                    2              No                2           No                      2           No                    2           No
Basement / % Finished          Unfinished     %                 Unfinished %                        Unfinished %                      Unfinished %

Comparable Sales
                                             Subject                          Sale 1                              Sale 2                            Sale 3
Address                        3604 NORMANDY ROAD               3609 Strandhill                     3671 Daleford                     3471 Avalon
Data Source                                                     MLS 3082125                         MLS 3133631                       MLS 3090341
# Units                        2                                2                                   2                                 2
Sale Type                                                       REO                                 REO                               REO
Days on Market                 N/A                              114                                 8                                 36
List Price                     $140,000                         $30,000                             $39,900                           $60,850
Sale Price/Date                                                 $43,000            07/07/2010       $45,000          07/08/2010       $50,000           03/19/2010
Distance (miles)               N/A                              0.22                                0.13                              0.26
Site Size (acres)              0.13                             0.14                                0.13                              0.11
View                           No                               No                                  No                                No
Age                            80                               85                                  81                                80
Condition                      Average                          Average                             Average                           Average
Square Footage                 2765                             2700                                2946                              2786
Bedrooms                       6                                6                                   6                                 5
Bathrooms                      3                                3                                   2                                 3
Garage/Pool                    2          No                    2               No                  2             No                  2              No
Basement / % Finished          Unfinished %                     Unfinished      %                   Unfinished    %                   Unfinished     %

Broker Comp Comments

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

Listing #1: Comparable size and condition
Listing #2: Comparable size and condition
Listing #3: Less GLA than the subject but better maintained

Sale #1:   Comparable GLA and condition
Sale #2:   Comparable GLA and condition
Sale #3:   Best overall comparable based on size, style, GLA and condition

Broker Value Opinion

Normal Market Value                                              Quick Sale Value
                                   $49,000                                                   $39,000                         As of:    07/16/2010
“As Is”:                                                         “As Is”:
Normal Market Value                                              Quick Sale Value
“As Repaired”:                     $49,000                       “As Repaired”:              $39,000
                                                        9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




 Order ID       37688346                                         Loan Number           n/a
                                                                 Client Project ID     07132010_B


 Additional Broker Comments
All comparable sales selected were found to be the most recent, similar and proximate to the subject. All comparables were considered to be the best and most
similar in style and utility. Sales were considered in the estimate for value.The subject was previously listed last year for $90,000 and never sold. None noted The
subject has a convenient location There does not appear to be any recent improvements to the subject; numerous REOs in the neighborhood. **QC NOTE: This
evaluation reflects an REO perspective




 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

 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    37688346                       Loan Number         n/a
                                           Client Project ID   07132010_B


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    37688346                 Loan Number         n/a
                                     Client Project ID   07132010_B


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    37688346                               Loan Number          n/a
                                                   Client Project ID    07132010_B

Comparable Listing 1 3564 Normandy, CLEVELAND, OH 44120




Comparable Listing 2 3650 Daleford, CLEVELAND, OH 44120




Comparable Listing 3 3521 Normandy, CLEVELAND, OH 44120
                                              9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID   37688346                                   Loan Number         n/a
                                                      Client Project ID   07132010_B

Comparable Sale 1     3609 Strandhill, SHAKER HEIGHTS, OH 44122




Comparable Sale 2     3671 Daleford, CLEVELAND, OH 44120




Comparable Sale 3     3471 Avalon, CLEVELAND, OH 44120
                       9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




OrderID     37688346            Loan Number           n/a
                                Client Project ID     07132010_B
 
Additional Photo




 
                                            Multi-Family      MLS#: 3001689             Status: Withdrawn                    LP: $90,000
                                            3604 Normandy Rd Shaker Heights, OH 44120-5 Unit/Lot#:                           SP:
                                            Subdivision/Complex:                                                             List Date: 02/01/09
                                            Property Subtype:    Two                  County: Cuyahoga                       List Date Rec: 02/03/09
                                            Parcel ID #: 73530074                     MultiplePIN #'s: No                    Pending Date:
                                            Area: 1301        MLS Cross Ref #:                                               Off Mkt Date: 08/04/09
                                            Photos: 1         VT:        OH: No               Attachments:                   Closing Date:
                                            Directions: East of Lee Rd Nort Of Lomond
                                                                                                                             DOM/CDOM:            184/184

Property Information     Approx Fin SqFt: 2785        Annual Taxes: $5,722                          School District: Shaker Heights CSD
# Units: 3               SqFt Source: Public Record   Net Operating Income:                         % of Units Occupied:
                                       Auto
# Stories: 2 1/2 Story Lot Size: 0.129 acres          Gross Income: $1,875                          Disability Features: No
Total Rooms: 12          Lot Size Source: Public Reco Operating Expense:                            Avail for Auction: No
# of Buildings: 1        Driveway: Paved              Construction:                                 Auction Date/Time:
Year Built: 1930         Fence:                       Exterior: Wood                                Fixer Upper: No
Basement: Yes                                         Roof: Asphalt/Fiberglass                      House Faces: East
Basement Desc:       Unfinished
Heat Type: Forced Air
Heating Fuel: Gas
Cooling: None
Water/Sewer:      Public Sewer,Public Water
Garage # of Cars: 2
Garage Features: Detached
View Description:
Lot Description:
Amenities:
Paid by Owner:              Sewer, Water,
Paid by Tenant:
Appliances/Equipment:         Smoke Detector
Miscellanneous Rooms:
  Unit             Approx Fin Sqft             Total Rooms        Total Bedrooms                   Total Bath           Monthly Rent             # of this Type
   #1                                                5                   2                             1                    $775                        2
   #2                                                5                   2                             1                   $1100                        2
   #3                                                3                   1                             1                                                1
   #4

Remarks:       Beautiful Tudor two family 5/5. Each unit have living room,formal dining room, eat-in kitchen. Nice hardwood floors. Two rooms and full bath on
               third floor combine with second floor. Buyer to assume point of sale, some seller assistance. Present all offers.

Office Information      2478 / Howard Hanna                              216-663-2900
List Agent: 215188 Alberta Howse                                         216-402-1873            albertahowse@howardhanna.com
Co-Lister:
Showing Instruction:   Call Office                                (440) 232-7400                             List Type:   Exclusive Right
Showing Information: 24 hours noitce to show 216.663.2900/440.232.74 Internet Listing: Yes                   Possession: 30 Days or Less
Sub Agt Comp:                                                          Show Address to Public:      Yes      Lease Option:
Buy Agt Comp: 3.5             Ownership:                               Show Address to Clients:     Yes      Land Contract:
Other Comp: Graduated         Comp Explain:     7% of 1st 100K & 5% of balance Could change by lender        Mortgage by Seller:
Broker Remarks: Short sale,**Offer subject to Bank Approval 24 Hours noices to show.                         Assumable Mortgage:
                                                                                                             Short Sale:

Comparable Infomation                                         Orig List Price:  $140,000            DOM/CDOM:      184/184          Financed:
SO#/Name:                                                     List Price: $90,000                   Off Mkt Date: 08/04/09          Closed By:
SA#/Name:                                                     Sale Price:                           Contract Date: 08/04/09
SA2#/Name:                                                    Seller Giveback:                      Closing Date:

Prepared By:      James Damiani                    Information is Believed To Be Accurate But Not Guaranteed              Date Printed:       07/14/2010

				
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