BOFI Federal Bank Good Faith Estimate Guidance and Samples 1

 Page 1 of GFE: Slide 3-7  GFE - Lender Paid Comp with Rebate : Slide 8-9  GFE - Lender Paid Comp with Discount: Slide  GFE- Lender Paid Comp at PAR : Slide  GFE - Borrower Paid Comp with Rebate: Slide 14  GFE - Borrower Paid Comp with Discount: Slide  GFE - Trust Review and Pledged Asset: Slide  GFE - Items to Remember: Slide Table of Contents

 Important Dates on the GFE must be accurate.  Loan amount on GFE must match the loan submission.  Loan term must be correct - 15 or 30 years.  Can your interest rate rise? Check Yes for any ARM Products.  Can your loan balance rise? Check No.  Can your monthly amount for PITI rise? Check Yes for any ARM Products. How to Complete Page 1 of the GFE 3

Important Dates – 1. Important Date #1 Dated the same day that the initial GFE was disclosed unless locked; if locked, must reflect lock period. – 2. Important Date #2 At least 10 business days after important date #1. – 3. Important Date #3 If not locked, should reflect N/A; If locked, must show the lock period. – 4. Important Date #4 If Interest rate is not locked must show number of days (minimum 3 days as a best practice); if locked, should read N/A. 4 Important Dates – Page 1 of the GFE

5 GFE Important Dates – Page 1 of the GFE

 Does your loan have a Prepayment Penalty? Check No.  Do you have a balloon payment? Check No.  See example of GFE - Page 1 for a 5/1 ARM below: Summary of your loan – Page 1 of the GFE 6

Example of Pg 1 of a GFE for 5/1ARM 7

 BOFI Federal Bank pays a fixed 1.0 % origination for all Lender Paid transactions. Example:  GFE for a loan amount of $1,000,000  Block 1 of GFE would read $10,000 plus BOFI’s lender fee of $1,145 = $11,145  Block 2 of GFE should have a corresponding credit of $10,000, plus or minus the rebate or discount amount.  So if the rebate is $500, this would be added to the $10,000 credit for a total of ($ 10,500) GFE for a Lender Paid Transaction with Rebate 8

See example below: GFE for a Lender Paid Transaction with Rebate Cont. 9

10  BOFI Federal Bank pays a fixed 1.0 % origination for all Lender Paid transactions. Example:  GFE for a loan amount of $1,000,000  Block 1 of GFE would read $10,000 plus BOFI’s lender fee of $1,145 = $11,145  Block 2 of GFE to have a corresponding credit of $10,000, plus the discount amount. For this example the Discount is 1.0% or $10,000 – so Block 2 would be $0.00. See example below Example of GFE – Lender Paid Transaction with Discount

11 Lender Paid with Discount continued:

12  BOFI Federal Bank pays a fixed 1.0 % origination for all Lender Paid transactions. Example:  GFE for a loan amount of $1,000,000  Block 1 of GFE would read $10,000 plus BOFI’s lender fee of $1,145 = $11,145  Block 2 of GFE to have a corresponding credit of $10,000,  As loan is at par there is no rebate or discount  See example below Example of GFE – Lender Paid Transaction at Par

13 Example of GFE – Lender Paid Transaction at Par Cont.

 Maximum total origination charge allowed on a Borrower paid transaction is 2.0% of loan amount. (This includes processing, admin fees, etc.)  So if Broker is charging a 1.0% origination fee on a million dollar loan, plus $500 processing and $500 admin fee, these fees will be reflected in Block 1 of the GFE as 10, ,145(Bofi Lender Fee)=12,145  Any rebate or discount will be reflected in Block 2 of GFE – see example below of $500 rebate. Example of a GFE for Borrower Paid Transaction with rebate 14

15  So if Broker is charging a 1.0% origination fee on a million dollar loan, plus $500 processing and $500 admin fee, these fees will be reflected in Block 1 of the GFE as 10, , ,145(BOFI lender fee) =12,145  The discount will be reflected in Block 2 of GFE – see example below of $500 discount. Example of GFE for Borrower Paid Transaction with Discount

16 Example of GFE for Borrower Paid Transaction with Discount. Cont.

17 Example of GFE with Trust Review Fee

18 Example of GFE with Pledged Asset Fee

 Lender Paid transactions: Do not allow for Broker fees such as processing or admin fees – only tangible fees such as credit report and flood fees are allowed.  Borrower Paid transactions: Maximum total origination charge allowed on a Borrower paid transaction is 2.0% of loan amount. (This includes processing, admin fees etc.)  Minimum loan amount is $300,000.  BOFI Lender fee of $1,145 must be disclosed in Block 1  If borrower will pledge assets, there is a Pledged Asset fee of $250 to be reflected in Block 1 of the GFE.  Loans vesting in entities such as a Trust or LLC, must reflect a fee of $250 is Block 3 of the GFE.  We require 2 appraisals for a loan amounts over 1 million, so be sure to have reflected a reasonable appraisal fee in Block B or loan will be rejected. GFE – Items to Remember 19

 Purchases must reflect Owners Title Insurance (even if Seller will pay for it) or loan will be rejected.  All loans require Lenders Title Insurance to be disclosed  Purchases must reflect sufficient mortgage transfer tax or loan will be rejected. Confirm transfer tax amount with Closing Company.  Purchases must always reflect transfer tax, unless the Seller will be paying the transfer tax. New York loans must provide confirmation.  Mortgage tax must be disclosed for the following states: AL,DC,FL,GA,KS,LA,MD,MN,NY,OK,TN,VA.  Recording fees must be disclosed. GFE – Items to Remember Cont. 20