NEWGATE FUNDING PLC - Irish Stock Exchange

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Level: 8 – From: 8 – Wednesday, December 19, 2007 – 9:34 pm – mac8 – 3894 Section 11 : 3894 Section 11 Mortgages plc Overview A Non-Conforming Lender with over 10 Years of Experience Feb ’97: M<strong>PLC</strong> incorporated Dec ’97: First Warehouse Line from ML + 17.5% stake Nov ’00: First M<strong>PLC</strong> Securitisation (£250m) £530mm completed to date Mar ’06: Newgate Funding Programme established £5.3bn completed to date Dec ’02: All special servicing brought in house £1.3bn completed to date 1997 1998 2000 2001 2002 2004 2006 2007 Mar ’98: First loan outsourced to SMS/HML Dec ’01: Nikko Principal Investments Sep ’04: Full in-house Servicing Oct ’04: 100% ML Ownership Oct ’04: FSA Regulation Product Completions Per Quarter (1) Origination (£) 450,000,000 400,000,000 350,000,000 300,000,000 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 0 2004-Q1 2004-Q2 2004-Q3 2004-Q4 2005-Q1 2005-Q2 2005-Q3 2005-Q4 2006-Q1 2006-Q2 2006-Q3 2006-Q4 2007-Q1 2007-Q2 2007-Q3 ____________________ (1) Near Prime – includes Near Prime & Near Prime Plus Light – includes Light & Super Light Heavy – includes Heavy, Fast Track & Fast Track Express Other – includes BTL, RTB and Standard Near Prime Light Medium Heavy Other 5 134
Mortgages plc Origination & Underwriting Distribution Mortgages plc uses a panel of approximately 120 packagers (1) . The packager panel is regularly reviewed Mortgages plc has constantly sought to diversify its introducer base: Mortgages plc’s target is to source 50% of completions from its packagers, and 50% directly via brokers (1) Mortgages plc maintains an internal database with the names of packagers, brokers, accountants and solicitors that have submitted or been involved in cases where fraud is suspected or proven. Each new case is checked against this list to ensure that it is not processed from such a source. These cases are logged with the external fraud prevention system Following the introduction of the online 'On Demand' platform in February 2006, Mortgages plc now receives approximately 30% of applications electronically (1) Intermediary commissions are paid in different fee scales per distribution channel, broker direct are paid less than packaged as they undertake a certain level of administration on our behalf. Fees are then subdivided between asset categories and traditionally the higher up in the credit curve, the smaller the fee ____________________ (1) Source: Mortgages plc Retail Borrowers Retail Borrowers FSA Authorised Intermediaries Packagers FSA Authorised Intermediaries Intermediaries / Brokers in the UK are regulated by the Financial Services Authority (“FSA”) 6 Level: 8 – From: 8 – Wednesday, December 19, 2007 – 9:34 pm – mac8 – 3894 Section 11 : 3894 Section 11 135
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NEWGATE FUNDING PLC - Irish Stock Exchange

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