Legal Seminar, Chicago, IL

Analysis of Proposed NRZ Acquisition of Failed Ditech Portfolio

MSR Ownership and Servicing

MSR Ownership Only (serviced by others)

Amounts in billions

Subservicing

Total $140

NewRez LLC (NMLS #3013) New Residential Mortgage LLC (NMLS #1416352) Ditech Financial (NMLS #1057)

$37

$0

$103

$0

$294

$0 $0

$294

$85

$0

$85

Total

$122

$294

$103

$519

Source: NMLS MCR Data Rank

Servicer

Total Servicing ($b)

Market Share

1 2 3 4 5 6 7 8 9

Wells Fargo & Co JPMorgan Chase

$1,482

13.6%

$792 $632 $519 $445 $325 $324 $303 $277 $243

7.3% 5.8% 4.8% 4.1% 3.0% 3.0% 2.8% 2.5% 2.2%

Mr. Cooper/Nationstar

New Residential Investment Corp.

Bank of America

PennyMac Loan Services

Quicken Loans Inc

US Bank Home Mortgage Lakeview Loan Servicing Ocwen Financial Corp

10

Total Market $10,905 Sources: Inside Mortgage Finance and NMLS MCR Data. IMF excludes Cenlar, FSB at $557b at 12/31/18 per Fitch.

Confidential / Sensitive / Pre-Decisional – For Discussion Purposes Only

State Regulators’ Efforts to Enhance Supervision of Nonbank Mortgage • 2015 Prudential Standards Proposal

• 2016 Guide to Coordinated Supervisory Action: Mortgage Servicers

• 2017 Improved Data & Analytics: Risk metrics and dashboard development

• 2018 Field utilization of Examiner’s Report for origination and servicing

• 2019 Update of multistate mortgage examination manual

• 2020 Launch of new State Examination System

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