BOFI Federal Bank Good Faith Estimate Guidance and Samples 1

 Page 1 of GFE: Slide 3-5  GFE - Lender Paid Comp with Rebate : Slide 6-7  GFE - Lender Paid Comp with Discount: Slide 8-9  GFE- Lender Paid Comp at PAR : Slide  GFE - Borrower Paid Comp with Rebate: Slide 12  GFE - Borrower Paid Comp with Discount: Slide  GFE Fees Block B: Slide Table of Contents

 Loan amount on GFE must match the loan submission.  Loan term must be correct - 20 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. Correct Way to Complete Page 1 of GFE 3

 Do you have a balloon payment – No must be checked  See example of GFE - Page 1 for a 5/1 ARM below: Correct Way to Complete Page 1 of GFE continued 4

 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) Example of GFE for a Lender Paid Transaction with Rebate 5

See example below: Continued 6

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 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

8 Lender Paid with Discount continued:

9  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

10 Example of GFE – Lender Paid Transaction at Par

 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 11

12  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

13 Continued

14 Example of GFE with Trust Review Fee

15 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 amount over 1 million, so be sure to have reflected a reasonable appraisal fee in Block B or loan will be rejected. GFE Fees Block B 16

 Purchases must reflect Owners Title Insurance (even if Seller will pay for them)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.  Note: Purchases must always reflect transfer tax, even if Seller will be paying the transfer tax.  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. 17