THIS SELLER GUIDE IS CURRENTLY UNDER CONSTRUCTION …

1 2013, CMG Financial. All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS #1820, 3160 Crow Canyon Rd, Ste 400, San Ramon, CA 94583. Intended for mortgage professionals only. Not for consumer distribution. Not a commitment to lend. Pricing and terms are subject to change without notice. To verify our state licenses, please visit: For information about our company, please visit us at !.com. this SELLER GUIDE IS CURRENTLYUNDER CONSTRUCTIONP lease check back again later. Thank you! correspondent LendingNMLS #1820 Tel: Toll-Free: Address: 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 Revised 3-17-2013 A Division of CMG Mortgage, Inc., NMLS #1820 CMG Financial correspondent Lending GUIDE Welcome to CMG Financial CMG Financial, a division of CMG Mortgage, Inc.

2 ( CMG ) is an established, privately held Mortgage Bank, headquartered in San Ramon, California. Providers of the patented All In One home loan, CMG Financial is widely known for responsible lending practices, industry and consumer advocacy, market innovation and operational superiority. The following are the requirements to be able to become an approved correspondent with CMG. DISCLAIMERS: CMG is authorized to purchase closed residential mortgage loans in all states except for Louisiana and West Virginia. CMG Financial is a registered trade name in all states except for Connecticut, Maryland, Nevada, Ohio and South Carolina. CMG Financial correspondent Lending GUIDE Page 2 NMLS #1820 Tel: Toll-Free: Address: 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 Revised 3-17-2013 TABLE OF CONTENTS.

3 Page SECTION 1: OVERVIEW .. 6 Definitions .. 6 Contacts .. 6 Operating Hours .. 7 Holiday Schedule .. 7 SECTION 2: ELIGIBLE PRODUCTS .. 7 The CMG correspondent Lender: .. 7 SECTION 3: SELLER REQUIREMENTS .. 8 Qualities of the CMG Financial correspondent SELLER : .. 8 Third Party Originations .. 9 Regulatory Compliance .. 9 Compliance by correspondent SELLER .. 9 QC Requirements .. 10 Social Security Validation .. 10 Expectations .. 10 Required Notification .. 11 SECTION 4: UNDERWRITING AUTHORITY AND SUBMISSION .. 12 correspondent Lender Delegation Authority .. 12 SECTION 5: REGISTRATION AND LOCKING .. 12 Registration .. 12 Underwriting Submission .. 12 Rate Sheets .. 13 Locking .. 13 Relocking/Expired locks .. 13 Extensions on undelivered loans .. 13 Extensions on delivered loans .. 13 Cancellations .. 14 SECTION 6: LOAN ELIGIBILITY.

4 14 FHA Programs .. 14 CMG Financial FHA Product .. 14 Enhancements: CMG Financial will consider for purchase .. 14 CMG Financial correspondent Lending GUIDE Page 3 NMLS #1820 Tel: Toll-Free: Address: 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 Revised 3-17-2013 FHA Streamline Refinance Transactions .. 15 Escrow Holdbacks .. 15 CMG Property/Program Restrictions FHA Program .. 15 AVM/Electronic Value Review .. 16 VA Programs .. 16 CMG Financial VA Product .. 16 Enhancements: CMG Financial will consider for purchase .. 16 VA IRRRL Refinance Transactions: .. 17 CMG Property/Program Restrictions VA Program .. 17 VA Interest Rate Reduction Refinance Loan Transactions .. 17 Conventional .. 18 HARP DU Refi Plus and LP Open Access .. 18 Documentation: .. 18 CORE Conventional Transactions .. 19 HOME Path Purchase Program.

5 19 Multiple Financed Properties .. 19 Underwriting Requirements for Multiple Financed Properties .. 20 Delayed Financing Exception .. 21 CMG Property/Program Restrictions Conventional Program .. 21 Minimum Loan 21 Geographic Restrictions .. 22 Exclusionary Lists .. 22 Allowable Vesting .. 22 Ownership Type .. 22 Prepayment Penalties .. 22 Real Estate Taxes .. 22 Hazard Insurance: Section A .. 23 Hazard Insurance: Section B .. 24 Condominiums Hazard .. 25 Mortgage Insurance .. 25 Standard Mortgage Insurance (Borrower Paid BPMI) .. 26 Lender-Paid Mortgage Insurance (LPMI) .. 26 CMG Financial correspondent Lending GUIDE Page 4 NMLS #1820 Tel: Toll-Free: Address: 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 Revised 3-17-2013 MORTGAGE INSURANCE: No new MI required. If MI in place on existing loan, insurer to modify & transfer to correspondent SELLER .

6 (AUS findings will identify) .. 26 Natural Disasters .. 26 SECTION 7: PURCHASE/FUNDING .. 27 Submission-Purchase Consideration Credit & Legal Package review .. 27 CMG Purchase Auditors .. 27 Prior to Purchase by CMG Financial correspondent Lending Division .. 27 Status of Submission .. 27 Ineligible to Purchase loan .. 28 correspondent Closing Documents .. 28 MERS Mortgage Electronic Registration System .. 28 Mortgage Insurance Certificate: (MIC) .. 29 Loan Purchase Audit .. 29 Aggregate Escrow Analysis .. 30 Final HUD 1 .. 30 FHA Connect Screen Shots: Casefile Information .. 30 Document Requirements .. 30 Original Note .. 30 Forms .. 31 Notary Requirements .. 31 Required Riders .. 32 Title Commitment .. 32 Power of Attorney .. 32 Title Insurance .. 33 Survey Requirements .. 33 Endorsement Requirements .. 33 Settlement Agents & Title Companies.

7 34 Escrow 34 Bailee Requirements .. 34 Wire Instructions .. 34 Payment 35 Transfer/Servicing Disclosure .. 35 CMG Financial correspondent Lending GUIDE Page 5 NMLS #1820 Tel: Toll-Free: Address: 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 Revised 3-17-2013 Collateral Packages .. 35 Collateral Delivery to CMG Financial .. 36 SECTION 8: POST CLOSING .. 37 Loan Purchase & Post Funding .. 37 Post Purchase Documents .. 37 Post Purchase correspondent Responsibilities .. 37 Final Closing Trailing Docs aka Final Closing 38 CMG Financial correspondent Lending GUIDE Page 6 NMLS #1820 Tel: Toll-Free: Address: 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 Revised 3-17-2013 SECTION 1: OVERVIEW Definitions As they appear in this document, the terms CMG Financial and CMG Financial correspondent Lending Division refer to CMG Mortgage, Inc.

8 , dba CMG Financial ( CMG ). correspondent , SELLER , or correspondent SELLER is defined as the SELLER of a closed mortgage loan to CMG. correspondent Loan is defined as mortgage loan that is made to a natural person for primarily consumer, family or household purposes, that is secured by a one- to four-family residential dwelling. correspondent loan also contains the feature where closing documents are drawn in the name of the correspondent , closed in the name of the correspondent , using the correspondent s dedicated commercial warehouse line(s), and the closed loan is submitted for purchase consideration to CMG Financial correspondent Lending Division by the correspondent . The correspondent performs of all of the following functions: Originates mortgage loans directly through its own retail/wholesale operations; Closes the loan in its name utilizing their warehouse line(s); and Ships the loan to CMG for data, legal documents, compliance review, and purchase.

9 Contacts Corporate Headquarters: CMG Mortgage, Inc., NMLS #1820 Attn: correspondent Lending Division 3160 Crow Canyon Road, Suite 400 San Ramon, CA 94583 Telephone: Please contact your assigned Regional correspondent Manager for program questions. Ronald M. Harrison Director, correspondent Lending Direct: Cell: cell Email: Sam A. Gomaa National correspondent Operations Manager direct Email: CMG Financial correspondent Lending GUIDE Page 7 NMLS #1820 Tel: Toll-Free: Address: 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 Revised 3-17-2013 Brett Sinnott Director, Secondary Markets Direct: Email: Operating Hours CMG s normal business hours are 8:00am 5:00pm (PST) Monday through Friday. Holiday Schedule CMG is closed the following holidays: New Year s Day Martin Luther King Day President s Day Memorial Day Independence Day Labor Day Columbus Day Veterans Day Thanksgiving Christmas SECTION 2: ELIGIBLE PRODUCTS The CMG correspondent Lender: CMG complies with all laws and regulations with regards to Federal, State, FHA, VA and best practices standards and requirements.

10 As a Mortgage Banker that is approved to originate and purchase FHA and VA loans (collectively, Government Agency ) as well as conventional loans eligible for sale to Fannie Mae and Freddie Mac, we are an organization positioned to offer the mortgage lending community a viable outlet to submit loans for purchase. We pride ourselves on the highest level of integrity, compliance, fair lending and loan disclosure in the Mortgage Industry. We invite you to apply to become one of our valued CMG Financial correspondent Lenders. CMG will consider those correspondent Lenders who are in good standing with appropriate licensing authorities and Government Agencies. When a correspondent presents a loan package to us for purchase consideration, we will independently verify and evaluate the borrower(s) qualifications and ability to repay the loan, as outlined by the correspondent s underwriting review.