Rethink. Remortgage. Retire

Rethink. Remortgage. Retire.

We are the makers of the leading HECM and private reverse mortgage lending platform, supporting more reverse mortgage transactions than all other systems combined.

Our comprehensive product suite flexes to lenders’ unique business and operational models, connecting stakeholders across the reverse mortgage lifecycle to meet borrowers where they are in life.

2. Regulatory changes

3. Mitigate reputational risk

4. Coexistence in Technology

5. Comparing Mortgages

6. Calculators & Benefit Statement

7. Financials & Profitability

$96,984 11,000 $8 Trillion Average American Debt By Potential Daily In Home Equity Age – Baby Boomers New Customers Demographic

1.5 Million + 39% 67%

2019 Loans to borrowers 62+ Of all buyers in 2019 age 54+ Of all buyers 55+ financed

300% 46 100%

Increase in broker activity 2019 LO Age Want more opportunities to add value – more tools

Home Equity First Time Conversion Mortgage Home Buyers (HECM) Generational Lending

HELOC

New (bigger) home, Private Reverse relocate or refinance Mortgage

2. Regulatory changes

3. Mitigate reputational risk

4. Coexistence in Technology

5. Comparing Mortgages

6. Calculators & Benefit Statement

7. Financials & Profitability

10 ©2021 ReverseVision. All rights reserved. The information presented in this proposal is confidential and proprietary to ReverseVision. Benefit to Regulatory Change Regulatory Summary Benefit to Borrower Lender/Investor

HECM 60 Limits the amount a homeowner may withdraw in Lump sum money was used as a "last resort" loan and not as intended to Protects the MMI fund the first 12 months to 60% of the principal limit retire in place - this was limited to 60%. and the HECM product. unless the funds are used to pay off a mortgage or Helps keep insurance home-related lien. Prevented borrowers from drawing excessive cash at closing, protecting premium and principal them from LOs pushing them into a fixed-rate loan. limits from having to be reduced.

NBS (non-borrowing Spouse can be left on title that previously had to be Younger spouse was often left off the loan; thus in death were forced out. Protects NBSs and helps spouse) removed due to conditions such as AGE. reputation of HECM Now all eligible spouses can remain on title, no matter what age, and loan is program. not required to be paid off when the borrower dies or is no longer in the home.

Loan Seasoning Introduced lien seasoning requirements. N/A N/A

Financial Assessment Credit run/ability to pay taxes and insurance Protects against tax / insurance foreclosure Lower default verified. LESA (set aside) included in instances where ability to pay is not verified (think mortgage insurance in traditional mortgage).

HECM Final Rule HECM Margin Locking, H2H MIP Rates, Seasoning Aligned reverse mortgages with traditional mortgages Codified the rule so Rules lenders know what to expect

Factor Changes PLF and Mortgage Insurance Changes Made some borrowers ineligible because they couldn't get enough money, More protections / opened but other borrowers benefited by lender's lowering their margins. Lower door for private mortgage principal limits means more retained equity. programs / made them more competitive.

Standard 2yr. Credit Score Credit Analysis- Limited Income Appraisal Appraisal Waiver Debt Ratio Residual Income Interest Only Income Minimum extenuating Documentation Required Possible Requirement Requirement Payment Allowed Documentation Requirement circumstances

FHA Traditional

HECM (FHA Reverse)

Non-QM

Conventional

Jumbo

Proprietary Reverse

Proprietary Bank / State Programs

Virtually Zero Technology 1 Coexistence

Limited Loan Modeling / 2 Comparison Tools

15 ©2021 ReverseVision. All rights reserved. The information presented in this proposal is confidential and proprietary to ReverseVision. How Do We Extend Into Common HECMs from Technology Systems Reverse-Centric Technology

2. Technology Team Collaboration

3. Workflow

4. Training

5. Continuous Improvements

RV Exchange (RVX)

Secondary Awareness Education Interest Qualifying Application Submission Processing Underwriting Closing Funding Servicing Market

RV Sales Accelerator

Borrower Centric Loan Centric

LOS

Secondary Awareness Education Interest Qualifying Application Submission Processing Underwriting Closing Funding Servicing Market

RV CRM,Sales POS,Accelerator etc.

Borrower Centric Loan Centric

RV Administration: RVA RV Sales Accelerator: RVSA RV Exchange: RVX RV Document Composer: RVDC

Business Layer Calculations, Security, Permissions, Roles, Synchronization, Products Owned/Used, Auditing

Business Analytics Production Database Replication Database Reporting Database RVDB – Data Warehouse Report Generator Reporting Website

20 ©2021 ReverseVision. All rights reserved. The information presented in this proposal is confidential and proprietary to ReverseVision. The Coexistence Workflow: APIs and the Loan Process Application / Post-Closing Prospect Qualifying Quote Underwriting Funding RV Platform Submission / Servicing

Next Gen RVSA – Q2 2021 Lead Received Web-based reverse loan pricing via POS or CRM and pre-qualifying engine.

Loan Modeling – Q1 2021 Borrower age Lead is Qualified Reverse loan pre-qualifying for Reverse? YES in CRM/POS using calculator. NO reverse calculator

Document – Q4 2021 Allows reverse documents to Provide Reverse be pulled into other systems. Mortgage Proposal

Loan API – Q2 2021 Borrower quote Run credit Create Loan is accepted YES for borrower Create loan and application for Reverse data field mapping. NO Loan created for application Loan Status and disclosures Ability to Retrieve Loan Status Loan Info Borrower signs Loan pushed to LOS Update and Retrieve loan application and system of preference information disclosures, loan for loan status updates/ is submitted. doc management

Attachment – Q4 2021 Conditions uploaded Loan Servicing Allows for full list of all to system of record (RVX) Funded attachments in RV LOS system

Lead goes to Lead may still be a qualified Forward System forward lead, goes to forward system.

Website Calculator Micro Customer Facing Database Services Endpoints CRM/Point of Sale

RVA Micro Reverse Proprietary LOS Service Loan Modeling API

RV Production Database RV Web (RVSA) Micro Service

RVX Micro Loan 2.0 API Service Image Key

Micro Company RV Product Service Admin API RV API Transaction

3rd Party Tech

Forward Loan Description / Instructions Reverse Loan Data Comparison Difference

Total number of loans (all) 30,000 30,000

Total number of loans 60+ average at 16% 4,800 4,800

Close Rate 25% 25%

Estimated Total Number of HECM’s Closed 1,200 1,200

Broker Level Yield Spread Premium $16,637,166.00 – $9,197,118.00 = $7,440,048.00

Here is a typical borrower you have all come across.

Home Value: $500K Pay Off: $125K Age: 65 HELOC $25K used of $75K Line Payment Options: Same Payment

All things equal what would the loan look like?

What if they used a HECM instead and made the same payments?

1. Home value of $500k 2. Enter current traditional loan information-rate, term, payment 3. Use pre-defined scenarios or create your own to compare payments 4. Enter information for HELOC or 2nd mortgage to compare apples to apples

1. Home Value $500k 2. Pay Off $125k 3. Age: 65 4. HELOC $25k used of $75k Line

• Calculated results show: • HELOC depleted in 5 years • Traditional loan balance decreasing with payments • Reverse loan balance decreasing with payments • Reverse LOC dramatically increasing by $150k by age 75

HECM benefits and features compared to traditional loan products

FHA-Insured Traditional Home Mortgage.

Traditional • Intense Competition • Volumes Challenged in Rising Rates • Profit Margins under measure • 364 Sigma Approved Issuers

Subhead description here. Loan/MSR Fair Value • +/- 125BPS • Highly rate sensitive • Runs off over time • 9-10% Discount rate

Subhead description here. Revenue Revenue production requires marketing investment and original costs

FHA-Insured Home Equity Conversion Mortgage.

HECM • Underserved market • Largely interest rate agnostic • Bond prices in excess of origination costs • 13 GNMAE approved Issuers

Subhead description here. Loan/MSR Fair Value • +/- 500BPS • Slightly rate sensitive • Accretive before runoff • 12% Discount rate

Ongoing profit in secondary market. Revenue Borrower may take out multiple draws on loan with zero origination costs

1. Technology 2. Training 3. Continual Improvements

858.433.4970

[email protected]

1620 5th Avenue, Suite 525 San Diego, CA 92101

©2021 ReverseVision. All rights reserved. The information presented in this proposal is confidential and proprietary to ReverseVision. 37 ©2021 ReverseVision. All rights reserved. The information presented in this proposal is confidential and proprietary to ReverseVision.