precision asset management


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PRECISION ASSET MANAGEMENT

COMPANY OVERVIEW Point of Contact:

Michael A. Hermosillo, Director of Operations P|(424) 203-7625 F|(424) 203-3025 [email protected] CAGE / NCAGE: 59NL7 DUNS Number: 95-630-2538 NAICS Codes: 531; 5312; 53121; 53120; 5313; 53131; 531311; 531312; 53132; 531320; 53139; 531390

Company Overview Precision Asset Management Corporation (PAMC) is an asset management provider who manages and liquidates distressed residential and commercial assets throughout the United States of America. Our offices are located in Torrance, California, approximately 10 miles south of Los Angeles International Airport. We have the ability to customize our reports per client’s requirements. PAMC has managed the post-foreclosure process of REO properties on a nationwide level for fifteen years; our agent/broker database is now over 10,000 strong. PAMC is 100% dedicated to the REO industry and currently services the JP Morgan Chase REO Portfolio nationwide and Peoples Mortgage Company, as well as Private Investor Portfolios. With approximately 20,000 square feet of office space, PAMC has the ability to maintain a staff of 150 employees and manage a portfolio of up to 20,000 assets. PAMC has presence in every state of the country and liquidates assets valued in the low thousands of dollars up to multi-million dollar properties. PAMC has experienced steady growth since its inception in September, 1998, and has a healthy audited financial statement, as well as strong cash flows. Precision has managed and liquidated over 36,000 assets totaling over $2 billion in gross sales. PAMC has the capability of advancing payments for any large financial institution and may offer a revolving credit line (with a 60-day reimbursement policy) where said funds are used for expenses associated with preparing the asset for marketing and liquidation.

PAMC has the following Divisions: • • • • • • • • • • • • •

Asset Assignment (selected from a graded agent base) Asset Valuations - BPO review team Asset Managers (Marketers/Budgets/Recommended list price/Sales Strategy) Weekly Property Inspection Service Title Curative Department/Code Violations Property Preservation Coordination Property Repair- Bid Review Assistance Management/Real Time data Accounting and Per Asset Budget Management Closing Coordination Team IT Development/Programming Property Management Nationwide Eviction Coordination Management with Legal Oversight Counsel/Relocation

Education: PAMC is present at REO Trade Shows conducted by Professional and Recognized REO Professionals such as: NAHREP/AREAA/NAREB multi-cultural Housing Conferences; Five-Star Institute; REO-Expo; NRBA; REO-MAC. We often offer Broker/Agent training courses at these events in addition to the on-going training we conduct with our agents throughout the year.

Key Performance Indicators The following metrics reflect PAMC’s performance between January and April 2013

Sales Price to BPO

98%

Available Turn Rate

37.06%

Vacancy to List

18 Days

List to Contract

48 Days

Contract to Close

37 Days

Aged 180 Days from List (Total Inventory)

1.72%

PAMC offers the following Service to its Clients: • Provide creative solution-oriented alternative asset management and disposition recommendations • Seasoned, licensed and insured local Real Estate Broker/Agent Selection process at time of Assignment. REO professional is contacted and disbursed to asset within 12 hours from having received the asset from Client. • Confirmation of property occupancy status within 12 hours • Monitor asset during redemption process, if applicable • Relocation Assistance Coordination Team • Coordination with Eviction Counsel • HOA information coordination • Order, Review and Analyze BPOs from agent in order to establish the Asset Value • Order, Review and Analyze Appraisal/BPO from third party vendor should Client request a second value • Order and Manage Property Preservation Service when requested to do so by Client • Cause asset to be Registered as a vacant home with municipality when applicable • Manage the compliance of those requirements imposed upon Client by local municipalities or State Ordinances as Seller • Establish a List Price, Sales Strategy and Marketing Recommendations to Client • Manage sales process: offer negotiations/disclosures • Manage the maintenance and repair of assets which include: obtaining bids, review, and provide recommendations • Manage the process of title curative, deed verification and accuracy of the closing package/HUD • Manage all appropriate approval processes for asset expenses • Enter and maintain timely and accurate updates to our Client’s systems, or should Client request, provide access to our system for our Client’s use

Summary of PAMC’s Qualifications and Services: • • • • • • • • • • • • • • • • • •

Fifteen year tenure in the REO-Default Residential Industry Successful in consummating over 36,000 REO sales throughout the USA Strength of over 10,000 REO real estate agents/brokers in our broker data-base Multi-lingual Staff History of working with one of the top largest lending institutions in the country Seasoned relationships with Nationwide Title Companies Currently managing and liquidating REO prime and sub-prime portfolio for JP Morgan Chase, Peoples Mortgage Company and Private Investor Portfolios Knowledge in obtaining accurate and competitive valuations through BPO providers Proven track record of achieving the highest net return to our clients Consistent implementation of marketing strategies that minimize holding time Seasoned Asset Managers, Seasoned REO Agents, Seasoned Operation Mangers Ability and experience in working with NSP programs Knowledge in LPS Invoice Management System SAS Compliant Servers RESNET software operations experience Effective Business Continuity Plan Seasoned Closing Team/Title Curative Team which review and process closing documents in a timely manner and properly account for and deliver the net proceed to our clients Experience with nationwide Property Preservation vendors including: Safeguard and Home Depot