Common use of Debt Forgiveness Clause in Contracts

Debt Forgiveness. Least preferred solution as we are trying to recapture the principal balance. Must require Vantium’s approval. FC100 *** % *** % *** % *** % *** % *** % FC90 *** % *** % *** % *** % *** % *** % FC80 *** % *** % *** % *** % *** % *** % FC70 *** % *** % *** % *** % *** % *** % FC60 *** % *** % *** % *** % *** % *** % FC50 *** % *** % *** % *** % *** % *** % FC40 *** % *** % *** % *** % *** % *** % FC30 *** % *** % *** % *** % *** % *** % FC20 *** % *** % *** % *** % *** % *** % - Must be a non re-start state - Must obtain Investor’s approval - Foreclosure will be placed on temporary hold for loan review - Based on Total Amount Due (TAD) includes negative escrow and attorney’s fees and cost - Must be in modification bucket provided by investor AK Yes MT Yes AL Yes NC No AR Yes ND No AZ No NE No CA No NH Yes CO No NJ No CT No NM No DC Yes NV No DE No NY No FL No OH No GA Yes OK No HI Yes OR No IA No PA No ID No PR No IL No RI Yes IN No SC No KS No SD No KY No TN Yes LA No TX Yes MA No UT No MD Yes VA Yes ME No VT No MI Yes WA No MN Yes WI No MO Yes WV Yes MS Yes WY Yes Initial List: RMV: $*** - $***: ***% RMV RMV: $*** - $***: ***% RMV RMV: $*** - $***: ***% RMV RMV: $*** - $***: ***% RMV RMV: $*** and Higher: ***% RMV *** DOM: RMV: $*** - $***: ***% RMV RMV: $*** - $***: ***% RMV RMV: $*** - $***: ***% RMV RMV: $*** - $***: ***% RMV RMV: $*** and Higher: ***% RMV *** DOM: RMV: $*** - $***: ***% RMV RMV: $*** - $***: ***% RMV RMV: $1*** - $***: ***% RMV RMV: $*** - $***: ***% RMV RMV: $*** and Higher: ***% RMV *** DOM: RMV: $*** - $***: ***% RMV RMV: $*** - $***: ***% RMV RMV: $*** - $***: ***% RMV RMV: $*** - $***:***% RMV RMV: $*** and Higher: ***% RMV

Appears in 2 contracts

Sources: Loan Servicing Agreement (Franklin Credit Management Corp), Loan Servicing Agreement (Franklin Credit Holding Corp/De/)