Professional Documents
Culture Documents
CSFB
Adjustable Rate Mortgage Trust 2007-1
(ARMT 2007-1)
Borrower/Property Histories
Page 2 of 158
1. Summers, Lourdes - 8715 Surf Dr. #2002, Panama City Beach, FL - Loan #408846523
2010/10 Short sale 253,000 ARMT 2007-1 netted this amount from short sale
2010/2 Short sale 84,000 ARMT 2007-1 netted this amount from short sale
2003/3 27,000 231 McClain Dr Suntrust 2nd mtg- $27,000 cash out
2003/10 65,000 231 McClain Dr Suntrust 2nd mtg- refi - $38,000 cash out
2005/12 27,000 231 McClain Dr Bank of America - 2nd mtg $ 27,000 cash out
2006/5 50,226 231 McClain Dr Bank of Amer 2nd mtg- $23,226 cash out- default
3. Lopez …. continued:
ARMT 2007-1 invested $234,400 in a 1st mtg with this house (231 McClain Dr) as collateral:
2010/4 Short sale 117,000 ARMT 2007-1 netted this amount from short sale
4. Toro, Eric - 2825 Washington Ave (Bay Towers) #609, Titusville, FL - Loan #410621646
[Due to the widespread defaults, unpaid condo dues, special assessments & condo association
judgments after 2009, the market value of many units to dropped to $0.]
Page 7 of 158
5. Tuazon, Rogelio & Evangeline- 2825 Washington Ave (Bay Towers) - #161 & #265
Loans # 410621642 & #410621643 (For picture, see survey of Eric Toro - #4 above)
The Tuazons took out 8 loans in 30 days (totaling $1,242,300) to purchase 8 units in Bay
Towers. They defaulted on all of the loans.
2013/4 Foreclosure 0 Condo Assn foreclosed for unpaid dues & assessments
ARMT 2007-1 lost all of its principal (100%).
continued….
Page 8 of 158
5. Tuazon - continued….
2009/8 REO resale 14,000 ARMT 2007-1 netted this amount from sale of unit
ARMT 2007-1 lost a minimum $96,642 of principal (97%).
Investors in the other 6 Tuazon loans also foreclosed and lost all of their principal (100%)
because the units became worthless due to defaults, unpaid Condo Assn assessments, etc.
[Rogelio’s brother and sister-in-law also purchased 2 units and financed them with SunTrust.
They defaulted, were foreclosed and mortgage investors there also lost all of their principal.]
Page 9 of 158
6. Cabrera, Hector - 2825 Washington Ave (Bay Towers) #171 Loan # 410621644
Bay Towers unit # 171 (For picture - see survey of Eric Toro, #4 above)
2014/3 Auction $100 No one purchased the unit at auction due to unpaid condo dues
ARMT 2007-1 lost all of its principal (100%).
[Hector’s brother and father also purchased 2 units and financed them with SunTrust. They
defaulted, were foreclosed and mortgage investors there also lost all of their principal.]
Page 10 of 158
7. Fede, Pierre - 11933 Winged Foot Ter., Coral Springs, FL - Loan #700469393
2009/8 REO resale 480,000 ARMT 2007-1 netted this amount from sale of unit
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $402,213 of principal (48%).
Page 11 of 158
8. Meyer, Anthony & Sherri - 7724 NW 55th Pl, Coral Springs, Fl - Loan #500773992
They borrowed $1 million to buy the above property after they had defaulted on a $130,000 1st
mortgage on their home at 4133 NW 83rd Lane, Cape Coral, FL:
Page 12 of 158
2001/9 60,000 4133 NW 83 Ln Myco Funding 2nd mtg- $60,000 cash out
2003/6 115,000 4133 NW 83 Ln EnTrust-2nd mtg $55,000 cash out- default 2004
2004/12 266,500 4133 NW 83 Ln Argent - refi defaulted 1st & 2nd mtg
2006/6 414,000 4133 NW 83 Ln World Savings - refi $179,500 cash out - defaulted
Loan #500773992:
The property’s history based on the county appraiser:
Date Event Amount Comment
2014/4 Auction 446,000 ARMT 2007-1 netted this amount from auction of property
ARMT 2007-1 lost a minimum $553,263 of principal (69%).
(The Meyers also defaulted on the mortgages on 4133 NW 83 Ln, were foreclosed and
mortgage investors there lost approximately $300,000.)
Page 13 of 158
9. Clarke, Roger - 17979 Lake Azure Way, Boca Raton, FL - Loan #700429855
2014/3 REO resale 493,500 ARMT 2007-1 netted this amount from sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
ARMT 2007-1 lost a minimum $894,152 of principal (89%).
[Roger also bought 5600 NE Trieste Way in Boca Raton for $779,723, about two weeks after the
above purchase. He financed 90% of the cost, defaulted, sold that property in a short sale,
losing mortgage investors there about $300,000.]
Page 14 of 158
10. Gomez, Luisa & Juan Cerda - 3730 Woodside Dr. Coral Springs, FL - Loan # 700464339
ARMT 2007-1 invested $440,000 with this house as collateral:
2014/3 Short sale 192,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-1 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $322,595 of principal (73%).
Page 15 of 158
2008/3 REO resale 263,000 ARMT 2007-1 netted this amount from sale of property
12. Duncan, Trevor & Jennifer - 7901 NW 128 Lane #11A , Parkland, FL - Loan #700410370
2009/11 REO resale 189,000 ARMT 2007-1 netted this amount from sale of property
Continued…
Page 17 of 158
The Duncans resided at 153-10 148th Drive, Rosedale, Queens, NY where, at the time of the
CSFB mortgage they had outstanding a $385,000 mortgage from WaMu.
At the time of the CSFB mortgage, the Duncans expanded their Florida property holdings:
2008/11 REO resale 540,000 MABS 2007-WMC1 netted this amount from sale of property
13. Rubinchikov, Oleg & Ella - 1850 S Ocean Dr. #510, Hallandale, FL - Loan #700433764
Leading up to defaults on the CSFB loans, the Rubinchikov’s took out $2,563,664 of loans:
2004/8 197,920 1650 Presid #504A West Palm Mortgage Tree 80% financing - default ‘07
Beach
2005/8 143,444 30 Seattle Trail, Palm Coast Lehman Bank- Refi- $143,444 cash out- flip ‘06
2005/9 47,200 1650 Presid #504A WPB Columbia- 2nd mtg- $47,200 cash- default ‘07
2006/9 520,000 21050 Point Pl #304 Aventura Greenpoint 100% financing - defaulted
2006/11 336,000 17100 N Bay Rd #1613 Sunny 4U Direct - 95% financing - defaulted
Isles
2008/5 Short sale 420,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2006-6 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $220,000 of principal (34%).
Page 20 of 158
14. Perez, Oscar - 4252 Cedar Creek Ranch Cir., Lake Worth, FL - Loan# 700497688
2012/10 REO resale 280,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $358,464 of principal (72%).
Page 21 of 158
15. Stewart, Marta & Boyd - 242 Gazetta, West Palm Beach, FL - Loan #700369197
2012/10 Short sale 197,000 ARMT 2007-1 netted this amount from sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
ARMT 2007-1 lost a minimum $261,021 of principal (57%).
Page 22 of 158
16. Cole, Keith - 502 Gazetta Way, West Palm Beach, FL - Loan #700445680
2007/2 2nd mtg 84,800 Capital One - $23,800 cash out - defaulted
2010/7 Short sale 192,500 ARMT 2007-1 netted this amount from sale of property
17. Vallet, Francois - 7368 Country Club Blvd, Boca Raton, FL - Loan #700490948
2007/2 2nd mtg 150,000 Citibank - refi - $63,000 cash out - defaulted
2012/10 REO resale 225,000 ARMT 2007-1 netted this amount from sale of property
18. Law, John & Rosetta - 2177 Wingate Bend, Wellington, FL - Loan #700488991
ARMT 2007-1 invested $348,000 with this house as collateral:
2009/8 REO resale 108,000 ARMT 2007-1 netted this amount from sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
ARMT 2007-1 lost a minimum $277,971 of principal (72%).
[The Laws also bought 3432 Collonade Dr, Wellington for $1,150,000 in May 2006. They
financed 100% of the cost, defaulted and were foreclosed, losing mortgage investors there over
$1,000,000.]
Page 25 of 158
19. Hawkins, Edwin - Palmetto Place Condo #837, Boca Raton, FL - Loan #700474047
2007/1 1st mtg 300,000 CSFB - refi - $47,500 cash out - defaulted
2011/1 REO resale 169,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $202,439 of principal (67%).
Page 26 of 158
2012/2 REO resale 199,000 ARMT 2007-1 netted this amount from sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
ARMT 2007-1 lost a minimum $187,770 of principal (65%).
Page 27 of 158
21. Hale, Gabriella & Bergstrom, Neils Magnus - Loans 700439537, 700475401 & 700475480
Paradise Cove Condos #1258 & #1268, West Palm Beach FL
Las Vistas at Doral Condo #118, Doral, FL
Hale/Bergstrom took out (and defaulted on) 30 loans totaling $4,740,618 over a two year period
ending February, 2007. 3 loans were sold by CSFB to ARMT 2007-1:
2001/11 103,816 11201 SW 111 Miami Bank of Amer - 1st mtg refi - $21,816 cash out
2003/11 128,000 11201 SW 111 Miami Impac- refi - $24,184 cash out
2004/1 98,800 7891 SW 62 Miami CHASE - 2nd mtg $98,800 cash out
2005/1 525,000 7891 SW 62 Miami Bank of Amer -refi- $18,500 cash out
2005/2 100,000 7891 SW 62 Miami CHASE - 2nd mtg $100,000 cash out
2005/3 359,200 6515 Collins #606 Miami Bank of Amer - 80% financing- default
2005/4 352,000 6515 Collins #605 Miami Countrywide - 90% financing -flipped
2005/9 161,000 11499 SW 109 #9C Miami Impac - 90% financing - default
2005/11 260,800 1152 103St #24 Bay Harb Flick Mtg - 90% financing - default
2006/2 389,925 6515 Collins #1705 Miami BAC Bank - 75% financing
2006/6 135,800 6515 Collins #606 Miami Bank of Amer 2nd mtg- $135,800 cash- default
2006/8 250,000 7891 SW 62 Miami Bank of Amer 2nd mtg- $150,000 cash- default
2006/10 204,260 Las Vistas #548 DoralFl 1st Equity - 95% financing - default
2006/10 176,320 1258 Point Dr, West Palm Beach CSFB - 95% financing - default
2006/10 216,900 1366 Point Dr, West Palm Beach NY Mtg - 100% financing - default
2006/12 131,120 1268 Point Dr, West Palm Beach CSFB - 95% financing - default
2006/12 199,425 Las Vistas #118 Doral, Fl CSFB - 95% financing - default
2006/12 202,425 Las Vistas #438 DoralFl 1st Equity - 95% financing - default
2007/1 84,270 11201 SW 111 Miami Bank of Amer 2nd mtg- $84,270 cash - default
2007/2 132,720 1248 Point Dr, West PalmB Homecomings- 95% finan. - default
2007/2 212,720 Las Vistas #134 Doral, Fl 1st Equity - 95% financing - default
2007/2 215,920 Las Vistas #503 Doral, Fl 1st Equity - 95% financing - default
2009/1 Short sale 70,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold its 2nd mtg to HEMT 2006-6, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $106,320 of principal (60%).
2009/1 Short sale 29,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $102,120 of principal (78%).
Page 30 of 158
2009/1 Short sale 103,000 ARMT 2007-1 netted this amount from sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
ARMT 2007-1 lost a minimum $96,425 of principal (48%).
Page 31 of 158
22. Toubail, Abraham & Althea - 414 Anchorage, N Palm Beach, Fl - Loan# 700454390
Residence: 30 Windward Isle, Palm Beach Gardens
Toubail took out over 20 loans totaling $7,560,104 leading up to his default of loan #700454390.
2000/7 796,500 706 Maritime N Palm Bch 1st Horizon - 80% financing
2001/8 100,000 706 Maritime N Palm Bch Bank of Amer- 2nd mtg- $100,000 cash out
2001/10 500,000 8 Marina Gdns PalmBch Finan Amer - 80% financing - flipped
2003/9 572,950 930 Mill Creek Palm Bch Gdn 1st Guaranty - 90% financing - flipped
2003/10 110,000 729 Laurel Dr W Palm Bch Cohen Mtg - $20,000 cash out - flipped
2004/3 305,892 Silk Bay Blvd, Alva, FL RBC Bank - 90% financing - flipped
2004/3 314,982 Yellow Button Ln, Ft Myers RBC Bank - 90% financing - default
2004/6 100,000 706 Maritime N Palm Bch Cohen Mtg- 2nd mtg- $100,000 cash out
2004/10 1,000,000 706 Maritime N Palm Bch Bank of Amer- $250,000 cash out- flipped
2004/12 204,000 414 Anchorage N Palm Bch Mtg Lend Network - 80% financing
2005/1 495,000 30 Windward, Palm Bch Gdn Bank of Amer- 76% financing
2005/2 203,900 500 Uno Lago #204, Juno Bch Greenpoint- 80% financing- default
2005/8 149,880 3740 Medit.Ln #304, Jensen Bch Countrywide - % financing- default
2005/10 168,800 2728 Anzio #304, Palm Bch Gdn Suntrust- 80% financing - default
2005/11 210,308 1211 Myrtlewood, Palm Bch Gdn Ohio Saving Bnk- 80% financing- default
2006/2 221,292 Water Rdg #1, Auburndale FL Wachovia - 90% financing - default
2006/6 165,000 120 Lehane #211 N Palm Bch Ohio Saving Bnk- 80% financing- default
2006/11 260,000 414 Anchorage N Palm Bch CSFB- refi $54,000 cash out - default
2006/11 656,000 30 Windward, Palm Bch Gdn AmBkrCond- $161,000 cash out- default
ARMT 2007-1 invested $260,000 with 414 Anchorage, N Palm Beach, FL as collateral:
2006/11 1st mtg 260,000 CSFB- refi $54,000 cash out - default
2009/4 REO resale 132,000 ARMT 2007-1 netted this amount from sale of property
2002/9 87,200 3553 Diamond Tr Wells Fargo - refi - $2400 cash out
2002/10 52,000 6024 Topher Trail WaMu - 80% financing - default (2008)
2003/7 68,006 6128 Topher Trail Countrywide - 95% financing - default (2008)
2005/2 31,000 6024 Topher Trail WaMu- 2nd mtg- $31,000 cash out - default
2005/10 146,400 5017 Black Birch Trail Guaranty Bank - 100% financing - default
2006/1 27,500 6128 Topher Trail WaMu- 2nd mtg- $27,500 cash out - default
2006/10 148,000 804 Scott Lake Vill. CSFB- 95% financing - default
2006/12 116,000 5099 Rock Glen Turn CSFB- 95% financing - default
CSFB sold the $116,000 1st mtg on 5099 Rock Glen Turn to ARMT 2007-1.
CSFB sold the $136,000 1st mtg on 6702 Sheperd Oaks to ARMT 2007-1.
Page 34 of 158
ARMT 2007-1 invested $116,000 (#700493847) with 5099 Rock Glen Turn as collateral:
2009/4 Short Sale 74,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $52,270 of principal (45%).
ARMT 2007-1 invested $136,000 (#700493950) with 6702 Sheperd Oaks as collateral:
2009/4 Short Sale 92,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $56,224 of principal (42%).
Page 36 of 158
24. McEwen, George Byard III - 3520 Cypress Marsh, Fort Myers, FL - Loan #700499636
ARMT 2007-1 invested $700,000 with this house as collateral:
2007/11 3rd mtg 115,000 Priority Healthcare - $115,000 cash out - default
2011/5 REO resale 329,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $551,949 of principal (79%).
[At the time of the CSFB loans, McEwen had over $1.1 million debt on his primary residence.]
Page 37 of 158
25. Golden, James B - 12349 Rock Ridge Rd, Fort Myers, FL - Loan #700457260
The Golden’s refinanced their home in 2006, bought 5 other properties, incurred $1,575,486 of
debt and defaulted on all of it by the end of 2007:
2006/4 227,950 8450 Kingbird #448 Univ. Amer. - 90% financing - default
2006/6 161,806 21587 Brixham Run Wachovia- refi- $4106 cash out - default
2007/2 306,250 20672 Torre Del Lago Univ. Amer. - 95% financing - default
2011/5 Short sale 242,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $116,692 of principal (32%).
Page 39 of 158
26. Sroka, Stephen - 15561 Omai Ct, Fort Myers, FL - Loan # 700487813
ARMT 2007-1 invested $334,900 with this house as collateral:
2005/12 1st mtg 262,500 Homefield Finan. - refi - $47,000 cash out
2009/6 REO resale 155,000 ARMT 2007-1 netted this amount from sale of property
ARMT 2007-1 lost a minimum $227,379 of principal (68%).
[CSFB lent Sroka $143,520 during March 2007 for a second property. Sroka defaulted on that
loan too, and to date, the mtg investor there lost all of its investment.]
Page 40 of 158
27. Tran, Michael & Ai Le - 26719 Lost Woods Cir, Bonita Springs, FL - Loan #700491530
The Trans took out 18 loans over 5 years totaling $2,825,411 leading up to their default on Loan
#700491530:
2001/1 72,100 26719 Lost Woods BonSpr World Saving Bank - 72% financing
2001/2 25,431 26719 Lost Woods BonSpr 1st Union - 2nd mtg - $25,431 cash out
2001/9 17,000 595 95 Ave, Naples 1st Union - 2nd mtg - $17,000 cash out
2004/4 376,032 1854 Ivory Cane Naples IndyMac - 80% financing - default
2004/8 54,500 26719 Lost Woods BonSpr World Savings- 2nd mtg - $29,069 cash out
2004/10 85,500 26719 Lost Woods BonSpr World Savings- 2nd mtg - $31,000 cash out
2005/2 234,500 595 95 Ave, Naples World Savings- refi- $81,500 cash out- default
2005/5 480,000 3329 Sunset #402 PuntaG World Savings- 80% financing - default
2005/10 181,160 11227 Madison Pk Tampa Pinnacle Direct - 80% financing -default
2006/4 100,000 595 95 Ave, Naples 1st Union - refi - $83,000 cash out- default
2006/6 200,000 1854 Ivory Cane Naples Bank Amer- 2nd mtg- $200,000 cash out- default
2006/8 202,600 8511 Broken Willow Tampa HSBC Mtg - 90% financing - default
2006/9 300,700 20565 Ardore Ln EsteroFL Wells Fargo - 90% financing - default
2006/12 280,000 26719 Lost Woods CSFB - $122,400 cash out - default
Bonita Springs FL
ARMT 2007-1 invested $280,000 with 26719 Lost Woods Circle as collateral:
2010/4 REO resale 136,000 ARMT 2007-1 netted this amount from sale of property
2004/7 Sale 46,000 Deed to High - lot only- price inflated 67%
1st mtg 242,748 Busey Bank - $196,748 cash out - some $$ used for construct.
2009/8 REO resale 141,500 ARMT 2007-1 netted this amount from sale of property
ARMT 2007-1 lost a minimum $268,462 of principal (77%).
[Roberts purchased another $315,000 house about 10 days before this 18th St house, obtaining
99% financing. They defaulted on that loan, too.]
Page 43 of 158
29. Hernandez, Sunilda - 138 Alameda Ave, Fort Myers, FL - Loan #700499748
2009/8 Auction 100 ARMT 2007-1 was the only bidder at auction
To date the property cannot be resold and ARMT 2007-1 has lost all of its principal (100%).
Page 44 of 158
30. Villadoniga, Jose - 3702 26th St SW, Lehigh Acres, FL - Loan #700386002
2005/11 Sale 50,000 Deed to Holiday Bldrs - lot only -price increased 324%
2012/3 Auction 68,000 ARMT 2007-1 netted this amount from auction of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $124,283 of principal (62%).
Page 45 of 158
31. Linker, Daniel - 3000 E Sunrise Blvd #4B, Fort Lauderdale, FL - Loan #700391858
2011/3 REO resale 178,000 ARMT 2007-1 netted this amount from sale of property
32. DeAndrade, Fabio - 107 Freedom Ct, Deerfield Beach, FL - Loan #700486873
ARMT 2007-1 invested $216,000 with #107 as collateral:
2011/3 REO resale 82,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $159,000 of principal (74%).
Page 47 of 158
Methot and his wife, Susan Scelfo took out 19 loans totaling $2,165,200 leading up to default of
Loan #700474428.
2002/6 76,500 2342 Lee St Hollywood FL 1st Nationwide - 90% financing - flipped
2003/2 110,000 2130 N 46 Ave Ft Lauderdale SunTrust - 2nd mtg - $110,000 cash out
2003/11 25,000 2342 Lee St Hollywood FL WaMu - 2nd mtg - $25,000 cash out
2004/3 105,000 2342 Lee St Hollywood FL WaMu - 2nd mtg - $80,000 cash out
2005/5 165,000 2130 N 46 Ave Ft Lauder. Countrywide - refi - $52,600 cash out - default
2005/6 116,000 2130 N 46 Ave Ft Lauder. Nat’l City - refi - $6000 cash out - default
2005/12 204,750 430 Golden Isl #301 Hallandale Countrywide - 90% financing - default
2005/12 40,000 2781 Taft ST #205 WaMu - 2nd mtg - $50,000 cash out
2006/6 195,900 230 SW 6th St, Dania FL Aegis - 80% financing - default
2007/2 45,000 430 Golden Isl #301 Hallandale SunTrust- 2nd mtg- $45,000 cash out- default
Methot - continued….
2011/1 short sale 103,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $158,750 of principal (61%).
Page 49 of 158
34. Butcher, Jeanne & William - 6850 NW 6 St, Margate, FL - Loan #700479433
ARMT 2007-1 invested $256,000 with this house as collateral:
2003/9 1st mtg 128,000 ABN Amro refi - $9700 cash out
2005/2 1st mtg 146,500 Bank of America refi - $18,500 cash out
2009/8 REO resale 103,000 ARMT 2007-1 netted this amount from sale of property
2010/11 REO resale 84,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $147,772 of principal (67%).
Page 51 of 158
36. Velez, Luz Marina - 650 NW 78th Terrace #104, Hollywood, FL - Loan #700495547
ARMT 2007-1 invested $200,000 with unit #104 as collateral:
2004/7 Sale 160,000 Deed to Dora Velez (Luz’ sister) - price inflated 52%
2007/1 Sale 250,000 Deed to Luz Velez from sister - price inflated 56%
1st mtg 200,000 CSFB - 80% financing - defaulted - no recorded 2nd mtg
2010/7 REO resale 84,500 ARMT 2007-1 netted this amount from sale of property
ARMT 2007-1 lost a minimum $138,715 of principal (67%).
[Unit 104 was purchased by a fellow Columbian (Dora & Luz are Columbian), transferred to a
shell corporation and Dora Velez now resides in the unit.]
Page 52 of 158
37. Perez, Ernesto & Gutierrez, Marlene - Naples, FL - Loans #700494402 & #700496174
CSFB financed 3 different properties for Perez, including:
Loan #700494402: $315,000 on 5761 Star Grass Lane, Naples, FL
Loan #700496174: $423,200 on 6020 Star Grass Lane, Naples, FL
Loan History:
Date Amount Property Comment
2001/3 173,565 6141 Star Grass Ln Naples Addison Mtg - 99% financing
2002/7 46,000 6141 Star Grass Ln Naples Pacific Shore- 2nd mtg- $46,000 cash out
2004/5 231,400 6141 Star Grass Ln Naples Florida Bank - refi - $11,835 cash out - default
2004/5 210,600 5761 Star Grass Ln Naples New Century- 87% financing
2006/12 205,223 6141 Star Grass Ln Naples Nat’l City- 2nd mtg- $205,223 cash out- default
2007/1 315,000 5761 Star Grass Naples CSFB -$104,400 cash out - default
2007/1 423,200 6020 Star Grass Naples CSFB - 65% financing - default - no recorded
2nd mtg
ARMT 2007-1 invested $315,000 with 5761 Star Grass Lane as collateral:
Page 53 of 158
2010/9 REO resale 98,500 ARMT 2007-1 netted this amount from sale of property
ARMT 2007-1 lost a minimum $289,417 of principal (92%).
ARMT 2007-1 invested $423,200 with 6020 Star Grass Lane as collateral:
2007/1 1st mtg 423,200 CSFB - 65% financing - default - no recorded 2nd mtg
2010/9 REO resale 171,000 ARMT 2007-1 netted this amount from sale of property
Perez also defaulted on two loans CSFB wrote on 6165 English Oaks. The investor in the
$43,400 2nd mtg on that house lost all of its investment. The $347,200 1st mtg was assigned
late to CSFB HEAT 2005-8, foreclosed and the property auctioned resulting in a $344,910
(99%) loss.
Page 55 of 158
2006/2 2nd mtg 77,007 Nat’l City - 2nd mtg - $77,007 cash out
2013/3 REO resale 110,500 ARMT 2007-1 netted this amount from sale of property
39. Davila, Antonio - 3281 10th Ave NE, Naples, FL - Loan #700461804
2009/12 REO resale 134,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $268,808 of principal (75%).
Page 57 of 158
40. Bailey, Amy - 1704 SW Boatswain Pl, Palm City, FL - Loan #700443951
ARMT 2007-1 invested $464,000 with this house as collateral:
2009/12 REO resale 225,000 ARMT 2007-1 netted this amount from sale of property
ARMT 2007-1 lost a minimum $298,009 of principal (64%).
Page 58 of 158
2011/4 REO resale 131,000 ARMT 2007-1 netted this amount from sale of property
ARMT 2007-1 lost a minimum $264,015 of principal (73%).
Page 59 of 158
Cohen was a founder of Davis Mortgage and now specializes in “identifying trends in the
marketplace.”
Cohen took out 18 mortgages during Oct/Nov 2006 and then defaulted on all of them:
2006/10 220,000 730 NE 169 St N Miami Bch AmBrokerCond - 90% financing - default
2006/10 221,666 17615 NE 8 Ct N Miami Bch 1st Natl Bk AZ - 90% financing - default
2006/10 216,766 17530 NE 7 Ct N Miami Bch 1st Natl Bk AZ - 90% financing - default
2006/10 220,000 901 NE 177 St N Miami Bch AmBrokerCond - 90% financing - default
2006/11 175,000 941 NE 172 St N Miami Bch Approved Fund - 90% financing - default
2006/11 316,666 1055 NE 176 N Miami Bch Lehman Bank - 100% financing - default
2006/11 326,000 1230 NE 172 St NMiami Bch Lehman Bank - 100% financing - default
2006/11 248,000 1071 NE 175 N Miami Bch CSFB - 90% financing - default
2006/11 256,000 1080 NE 178 Ter NMB CSFB - 90% financing - default
2008/6 short sale 184,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $63,500 of principal (26%).
2008/7 short sale 199,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $56,500 of principal (22%).
Page 62 of 158
43. Suarez, Barbara & Welgen - 21380 Bridge View Dr, Boca Raton, FL - Loan #700457382
2013/8 REO resale 62,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost all of its principal (100%).
Page 63 of 158
2013/8 short sale 61,000 ARMT 2007-1 netted this amount from sale of property
45. Lamar, Warren & Tijuana - 20563 NW 11th Ave, Miami Gardens, FL - Loan #700381704
The Lamars took out almost a dozen loans leading up to default of Loan #700381704
2001/8 13,000 1720 NW 85 St Miami Eastern FCU - 2nd mtg - $13,000 cash out
2004/5 20,000 19420 NW 32 Ave OpaLocka Countrywide - 2nd mtg - $20,000 cash out
2005/5 26,500 19420 NW 32 Ave OpaLocka Countrywide - 2nd mtg - $6500 cash out
2005/8 182,500 19420 NW 32 Ave OpaLocka Wachovia - refi - $32,500 cash out
2006/1 150,000 2900 NW 209 Miami Gdns JPMorgan - refi - $150,000 cash out
2006/10 200,000 2900 NW 209 Miami Gdns Countrywide- refi- $50,000 cash out- default
2006/10 200,000 19420 NW 32 Ave OpaLocka Countrywide- refi- $17,500 cash out- default
2010/5 short sale 235,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2006-6 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $218,819 of principal (48%).
Page 66 of 158
46. Polo, Leonardo - 4775 Collins Ave #1804, Miami, FL - Loan #700452451
Polo took out a “$2-million six-pack” of loans over a 60 day period, defaulting about 1 year later:
Date Amount Property Comment
2006/10 100,000 6335 NW 170 Ln Miami SunTrust - 2nd mtg - $70,000 cash out
2006/10 1,500,000 3580 Battersea Rd Miami Crossfire Fin. - 90% financing - default
2006/12 760,000 4775 CollinsAv #1804 Miami CSFB - 100% financing - default
ARMT 2007-1 invested $760,000 with unit 1804 (center tower) as collateral:
2009/5 short sale 572,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $187,500 of principal (25%).
Page 68 of 158
[During September 2006, Yabor also financed the purchase of 8265 SW 56 St, Miami with a
$941,250 loan (defaulted).]
Yabor increased her debt load by 1000% in just 30 days during 2006.
2010/11 REO resale 530,000 ARMT 2007-1 netted this amount from sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
ARMT 2007-1 lost a minimum $285,029 of principal (42%)
Page 69 of 158
48. Correa, Alexander & Elisa - 2949 Coconut Ave, Miami, FL - Loan #700440979
ARMT 2007-1 invested $532,000 with this vacant lot (maybe once a house?) as collateral:
2008/10 short sale 197,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $335,000 of principal (63%).
Page 70 of 158
49. Perez, Jorge & Damarys - 19831 SW 81 Ct, Cutler Bay, FL - Loan #700433346
During 12 years, the Perez’ increased their mortgage debt by over three-fold (from $142,500 to
$495,000).
1996/3 1st mtg 153,000 Washtenaw Mtg - refi - $10,500 cash out
2007/3 2nd mtg 79,000 Delta Funding - $79,000 cash out - defaulted
2011/8 short sale 136,000 ARMT 2007-1 netted this amount from sale of property
Between 1996 and 2007 the Perez’ cashed out $342,000 from their home - most of the principal
amount lost by ARMT 2007-1.
Page 72 of 158
2004/8 126,950 710 SW 114 Ave #C4 ResFundCorp - 99% financing - flipped
2004/9 59,000 5941 SW 56 Ter IndyMac- 2nd mtg - $59,000 cash out -flipped
2004/11 110,000 8967 NW 112 Ter Argent -refi - $13,000 cash out - default
2006/1 331,200 10214 SW 227 Miami Long Beach Mtg - refi - $16,900 cash out
2006/9 261,600 1865 Brickell Ave #610A Allstar Financial - 100% financing- default
2006/11 378,000 10214 SW 227 Miami Fremont- refi- $46,800 cash out - default
2007/5 35,000 10214 SW 227 Miami Capital One- 2nd mtg - $35,000 cash out- default
Loan #700490169:
ARMT 2007-1 invested $348,000 with this house as collateral:
2011/7 REO 94,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $289,181 of principal (83%).
Page 74 of 158
2009/1 REO 112,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $166,654 of principal (63%).
Page 75 of 158
52. Colbert, Theron & Dominga - 1232 Matengo Cir, Jacksonville, FL - Loan #700472424
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
Today, homes in this neighborhood average $300,000. It is likely ARMT 2007-1 has lost
substantial principal.
Page 76 of 158
53. Dickson, Felicia - 810 SW 5th Ave, Delray Beach, FL - Loan # 700445313
2014/2 Tax Deed n/a Property sold for unpaid taxes - $0 recovery for ARMT 2007-1
2006/11 382,400 1865 Brickell Ave #A911 AllStar Fin. 100% financing - default
2014/2 REO resale 119,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
Nestor also took out almost a “million-dollar six-pack” of loans in just 50 days:
Date Amount Property Comment
2006/10 156,800 14911 SW 82 Ter #2104 WMC - refi $40,676 cash out- default
2009/4 short sale 214,000 ARMT 2007-1 netted this amount from sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
56. Bello, Alexander - 397 W 64th St, #397, Hialeah FL - Loan #700466740
ARMT 2007-1 invested $273,500 with half of this house (the white half) as collateral:
2012/11 REO resale 112,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $141,984 of principal (65%).
Page 82 of 158
57. Azpurua, Ines & Alberto - 8440 SW 8th St #408A, Miami, FL - Loan #700490304
2012/11 REO resale 95,500 ARMT 2007-1 netted this amount from sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
ARMT 2007-1 lost a minimum $168,156 of principal (78%).
[The Azpuruas also refinanced their home and another investment property during January
2007. They defaulted on all those loans, too.]
Page 83 of 158
58. Takacs, Zsuzsanna - Las Vistas at Doral Condo #318, Doral, FL- Loan #700464285
[N.B. Same building as Borrower #21 - Hale/Bergstrom]
2009/1 Short sale 79,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $126,817 of principal (61%).
Page 84 of 158
2006/10 260,000 7183 Cadiz Blvd Orlando Montgomery Mtg- 95% financing- default
2006/10 284,000 7062 Cadiz Blvd Orlando Montgomery Mtg - 95% financing - default
2006/10 284,000 6826 Slaven Dr Orlando Montgomery Mtg - 95% financing - default
2006/10 284,000 7135 Cadiz Blvd Orlando Montgomery Mtg - 95% financing - default
2006/10 284,000 7105 Cadiz Blvd Orlando Montgomery Mtg- 95% financing - default
2006/10 284,000 7143 Cadiz Blvd Orlando Montgomery Mtg- 95% financing- default
2006/10 375,200 9528 Piccadilly Sky Way Montgomery Mtg - 95% financing - default
2006/10 368,800 8935 L Archer Blvd Windermere Montgomery Mtg - 95% financing - default
2006/10 328,800 8952 L Archer Blvd Windermere Montgomery Mtg - 95% financing - default
2006/10 337,600 8814 L Archer Blvd Windermere Montgomery Mtg - 95% financing - default
2006/10 333,600 8832 L Archer Blvd Windermere Montgomery Mtg - 95% financing - default
2006/10 308,000 9007 L Archer Blvd Winder. Montgomery Mtg- 95% financing - default
2006/10 328,800 8844 L Archer Blvd Windermere Montgomery Mtg - 95% financing - default
2006/10 383,200 4415 Blue Major Dr Windermere Montgomery Mtg - 95% financing - default
2006/12 271,200 941 Davenwood Ct, Ocoee FL Montgomery Mtg - 90% financing
2006/12 270,400 947 Davenwood Ct, Ocoee FL Montgomery Mtg - 90% financing
2006/12 271,200 1151 Barronwood Rd, Ocoee FL Montgomery Mtg - 90% financing
2007/1 366,000 14449 Yellow Butterfly Winderm. IndyMAC - 100% financing - default
2007/1 319,500 7191 Cadiz Blvd Orlando IndyMAC - 90% financing - default
2007/3 305,100 947 Davenwood Ct, Ocoee FL Montgomery- refi- $34,700 cash out- default
2007/3 305,100 1151 Barronwood Rd, Ocoee FL Montgomery- refi- $34,700 cash out
2007/3 305,100 941 Davenwood Ct, Ocoee FL Montgomery- refi- $34,700 cash out- default
Total: $8,465,650
2009/1 REO resale 159,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $144,529 of principal (56%).
2009/1 REO resale 155,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $172,396 of principal (61%).
2009/1 REO resale 173,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $152,000 of principal (53%).
Page 88 of 158
60. Acevedo, Eugenio - 1711 Sweetwater West Circle, Apopka, FL - Loan #700440376
ARMT 2007-1 invested $508,000 with this house as collateral:
2009/9 REO resale 178,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2006-6 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $402,793 of principal (79%).
[During June, 2006 the Acevedos bought a new $300,000 house. They defaulted on the loans
there, too.]
Page 89 of 158
61. Cedeno, Leopolda - 14461 Grassy Cove Circle, Orlando, FL - Loan #700471940
2009/9 short sale 112,500 ARMT 2007-1 netted this amount from sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
62. Thomas, Brendon - 14657 Whittridge Dr, Winter Garden, Fl - Loan #700430792
CSFB sold the 2nd mtg to HEMT 2006-6 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $291,816 of principal (78%).
Page 91 of 158
63. Engelking, Chester- Maricopa & Pinal AZ - Residence: 9433 S Stanley - Loan #700461970
2003/8 81,600 3902 W Glendale Finance Amer- 100% financing. Flipped in 2005
2003/9 68,900 3709 W Luke Private lender - 100% financing. Defaulted 2004
2003/10 164,450 1990 W Mulberry Private lender - 100% financing. Defaulted 2004
2003/10 82,225 3148 W Thunderbird Private lender - 100% financing. Defaulted 2004
2003/10 78,650 6234 N 39th Private lender - 100% financing. Defaulted 2004
2003/10 43,550 1927 E Hampton Private lender - 100% financing. Defaulted 2004
2003/11 83,200 233 W Taro New Horizons Mtg- 100% fin. Defaulted 2004
2003/11 79,560 2245 W Weldon Private lender - 100% financing. Defaulted 2004.
2003/11 66,650 5909 W Hubbell Private lender - 100% financing. Defaulted 2004.
2003/12 185,200 4302 E Calle Feliz New Horizons Mtg- 101% fin. Defaulted 2004.
2003/12 108,500 2434 E Hazelwood New Horizons Mtg 100% fin. - refi in 2004
2004/1 59,000 5241 E Colby New Horizons Mtg -100% fin. Defaulted 2005.
2004/1 94,250 3835 W Grovers Homestar Pension - 100% fin. Defaulted 2004.
2004/1 139,750 6208 N 30th Homestar Pension- 100% fin. Defaulted in 2004.
2004/1 84,175 2750 E Irwin New Horizons Mtg -100% fin. Defaulted 2004.
2004/1 42,185 6911 W Montrose Seller financing- 100% fin. - Defaulted 2004.
2004/2 99,450 8021 W Magnolia Homestar Pension - 100% fin. Defaulted 2004.
2004/2 48,750 3002 N 70th Homestar Pension - 100% fin. Defaulted 2004.
2004/2 43,800 600 S Dobson New Horizons Mtg -100% fin. Defaulted 2004.
2004/2 49,000 15402 N 28th Allrig Financial - 100% fin. Defaulted 2005.
2004/3 137,800 6631 E Monte Vista New Horizons Mtg -100% fin. Defaulted 2004.
2004/3 168,900 9043 N Arroya Grande Fremont Mtg - 100% fin. Flipped 2005
2004/5 170,624 6691 W Del Rio MRL LP - 100% fin. Default 2004.
2004/6 75,500 10510 W Heatherbrae Mtg Co. of America - 100% fin.- Defaulted 2004.
2004/6 51,000 2605 W Coolidge Private lender - 100% fin.- Defaulted 2004
2004/6 95,500 1716 WCortez #141 Private lender - 100% fin.- Defaulted 2005
2004/6 73,000 17431 N 13th Private lender - 100% fin.- Defaulted 2004
2004/6 561,000 1249 E Del Sol Seller 1st mtg- 100% fin. Refi in 30 days.
2004/7 417,000 9433 Stanley Private lender - 100% fin.- refi 2006
2004/7 551,000 1249 E Del Sol Amer Savings Life Ins. 99% fin. Defaulted 2005
2004/8 309,000 8348 W Maya BNC Mtg - 100% fin.- Defaulted 2005
2004/8 94,250 17828 N 41st Private lender - 100% fin.- Defaulted 2005
2004/9 184,977 10639 W Carlota Lincoln Trust -100% fin.- Defaulted 2005
2004/10 173,500 2434 E Hazelwood Wells Fargo 1st refi- $5,000 cashout- defaulted
2004/10 76,571 2143 S Vincent Private lender - 100% fin.- Defaulted 2005
2004/10 44,275 3148 W Thunderbird Seller 2nd mtg - modif. after default - re-defaulted
2006/1 155,098 1329 S Royal Palm Rd Linwood Ent - 100% fin - defaulted (Pinal,AZ)
2006/2 162,500 23429 N Desert Dr USA Financial - 100% fin. Defaulted. (Pinal,AZ)
2006/2 148,000 1384 W Mesquite Av Allrig Ent. - 100% fin - defaulted (Pinal,AZ)
2006/3 729,000 9433 S Stanley Argent - 1st mtg refi - $27,000 cash out - defaulted
2006/4 115,000 9433 S Stanley Home Funds 2nd mtg- $115,000 cash out - defaulted
2006/3 230,750 21282 E Tierra Grande Private lender - 100% fin.- Defaulted
2006/4 207,197 1430 N Milly, Casa Grnd Affiliated Mtg - 100% fin.- Defaulted (Pinal AZ)
2006/5 447,200 5332 N 20th People’s Choice Mtg - 100% fin.- Defaulted.
2006/5 410,131 4720 E Adobe People’s Choice Mtg - 100% fin.- Defaulted.
2006/7 200,800 35710 N Belgian Blue CSFB - 95% fin.- Defaulted (Pinal,AZ)
2006/8 419,225 3506 E Caballero Option One Mtg - 95% fin.- Defaulted
2006/8 228,000 1867 W Desert Hills Argent - 95% fin.- defaulted (Pinal,AZ)
2006/10 327,750 1650 E Glencove New Century Mtg - 95% fin.- Defaulted.
2006/10 589,000 42315 N 9th New Century Mtg - 95% fin.- Defaulted.
2006/10 498,750 9566 W Prospector Argent Mtg - 95% fin. Defaulted (Pinal,AZ)
2006/11 712,800 16806 E Parlin Royal Crown Bank - 95% fin. Defaulted.
2006/12 417,000 16127 E Balsam Taylor Bean Mtg - 95% fin.- Defaulted.
2006/12 257,600 1003 S Firehole Taylor Bean Mtg - 95% fin.- Defaulted.
2007/1 228,000 1173 W Bluebird Taylor Bean Mtg - 95% fin.- Defaulted.
2007/2 400,000 5218 W Pontiac Taylor Bean Mtg - 95% fin.- Defaulted.
2007/2 196,000 509 W Corriente Ct Taylor Bean - 95% fin.- Defaulted (Pinal,AZ)
2008/1 REO resale 134,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $209,281 of principal (64%).
CSAB 2006-3 invested $200,000 with 35 W Holstein Trail, Queen Creek AZ as collateral:
2008/3 REO resale 116,000 CSAB 2006-3 netted this amount from sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
CSAB 2006-3 lost a minimum $84,000 of principal (42%).
CSAB 2006-4 invested $200,800 with 35710 Belgian Blue Ct, Queen Creek AZ as collateral:
2008/4 REO resale 102,000 CSAB 2006-4 netted this amount from sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
CSAB 2006-4 lost a minimum $98,800 of principal (49%).
CSAB 2006-3 invested 226,200 with 15972 W Calavar Rd, Surprise, AZ as collateral:
2008/4 REO resale 151,000 CSAB 2006-3 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2006-5, which lost all of its investment (100%)
CSAB 2006-3 lost a minimum $75,200 of principal (33%).
Page 102 of 158
64. Cuellar, Rodolfo - 2047 Dixie Bell Dr #P, Orlando FL - Loan #700436133
2011/3 short sale 27,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $70,930 of principal (72%).
Page 103 of 158
65. Hanover, Kathleen - 316 Lake Fair Lane, Winter Park, FL - Loan #700475387
ARMT 2007-1 invested $207,200 with this house as collateral:
2011/3 short sale 107,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $145,619 of principal (70%).
Page 104 of 158
2011/2 short sale 80,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2006-6, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $110,000 of principal (58%).
Page 105 of 158
67. Manbahal, Nazela - 713 Crest Pines Dr. #213, Orlando, FL - Loan # 700487183
2011/3 REO resale 43,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $108,098 of principal (82%).
Page 106 of 158
2011/6 Auction 45,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $192,948 of principal (93%).
Page 107 of 158
69. Purvis, Tammy & Robert- 2812 Paine Lane, Orlando, FL- Loan #700364036
Tammy & Bobby took out a few loans:
2003/11 95,892 4021 Forest Isl Dr Nat’l City Mtg - 80% financing
2004/5 45,500 4021 Forest Isl Dr GTE FCU - 2nd mtg $45,000 cash out
2005/1 108,700 4021 Forest Isl Dr GTE FCU - 2nd mtg $63,200 cash out
2005/10 211,300 4021 Forest Isl Dr GTE FCU - 2nd mtg $102,600 cash out
2006/2 165,000 5005 Old Cheney Hwy Seller financed - 87% - default
2006/3 155,000 2812 Paine Lane Seller financed - 100%- CSFB refi
2006/4 143,200 2902 Sprague Dr Pinnacle- refi $55,000 cash out- default
2006/8 120,000 556 Bablonica Dr Eagle Fund- refi $120,000 cash out- default
2006/8 67,000 4423 Conley St Barksdale Fin.- 110% fin. - flipped 10/‘06
2007/1 226,000 689 S Lakemont Av Barksdale Fin.- 102% fin - $6000 cash out
2007/2 130,000 10849 Genevieve St Barksdale- 118% fin- $20,000 cash- flipped
2007/3 233,500 689 S Lakemont Av Eagle Fund- refi $7500 cash out- default
2007/4 160,000 2802 Hertha Ave Barksdale Fin- refi- $47,500 cash - flipped
2007/6 164,000 14107 Allison Dr Eagle Funding- refi $68,600 cashout- default
Total: $2,597,942
2009/12 REO resale 65,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold to CSMC 2007-5 a $143,200 loan to Purvis secured by 2902 Sprague Dr.
2006/7 1st mtg 143,200 Pinnacle- refi $55,000 cash out- default
2012/5 REO resale 36,500 CSMC 2007-5 netted this amount from sale of property
The $143,200 1st mtg loan on 2902 Sprague was assigned to CSMC 2007-5 during 2009.
CSMC 2007-5 lost a minimum $131,578 of principal (92%).
Page 110 of 158
2009/4 REO resale 67,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $160,074 of principal (78%).
Page 111 of 158
2008/9 REO resale 169,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2006-6, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $103,265 of principal (41%).
2001/8 195,500 964 Emporia St, Aurora CherryCreek Mtg- refi $118,500 cash out
2001/8 221,600 83-91 Lima St, Aurora CherryCreek Mtg- refi $68,100 cash out
2004/1 277,500 83-91 Lima St, Aurora Indymac- refi $55,900 cash out- default
2004/9 193,500 964 Emporia St, Aurora Upland Mtg - 1st mtg refi
2005/4 388,400 6558 S Waco, Aurora Accredited Mtg- 100% financing- default
2006/8 105,200 6558 S Waco, Aurora AmMtgNetwk- 2nd mtg- $8100 cash- default
2006/8 18,000 83-91 Lima St, Aurora Moneyline 2nd mtg- $18,000 cash - default
2006/12 260,800 1428 S deGaulle Ct Silver State Mtg- 100% financing - defaulted
2007/2 176,250 964 Emporia St, Aurora Plaza Mtg- refi $6250 cash out- defaulted
Total: $2,665,983
72. Santos, Claudia - 1783 W 12th Ave, Apache Junction, AZ - Loan #700494553
2010/1 REO resale 92,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $75,565 of principal (48%).
Page 114 of 158
2010/1 REO resale 55,500 ARMT 2007-1 netted this amount from sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
ARMT 2007-1 lost a minimum $78,457 of principal (63%).
Page 115 of 158
2010/1 REO resale 27,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $100,484 of principal (87%).
Page 116 of 158
75. Lozano, Cesar - Apopka, FL (Orange Cty) - Loan #700502655 & #700502706
2007/3 125,000 2257 Kingcrest Cir, Apopka Aegis Funding- 2nd mtg $ cash out- default
2007/3 118,900 2598 Sheila Dr, Apopka Aegis Funding- 2nd mtg $ cash out- default
2007/3 93,500 522 Vicks Landing, Apopka Aegis Funding- 2nd mtg $ cash out- default
2007/6 50,000 2213 El Marra Dr, Ocoee Private lender- 3rd mtg $ cash out- default
Total: $1,525,162
CSFB made 4 of Cesar’s loans and sold two of them (1st mtgs) to ARMT 2007-1
Loan #700502655:
ARMT 2007-1 invested $150,460 with 2213 El Marra Dr, Ocoee as collateral:
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 - to date - has not recovered any of its principal.
[Homes on El Marra Dr currently sell (if possible) for an average $170,000 - a full recovery by
ARMT 2007-1 is unlikely.]
Loan #700502706
ARMT 2007-1 invested $150,460 with 1848 Alambra Circle, Apopka as collateral:
2012/3 Auction 126,000 ARMT 2007-1 netted this amount from auction of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $88,682 of principal (53%).
Page 119 of 158
76. Salnikov, Anton - 139 Robertson Rd, Lake Zurich, IL - Loan #700501345
Salnikov is a truck driver in Elk Grove, IL, affiliated with Somar Transport & Tony Line.
ARMT 2007-1 invested $543,200 with this house as collateral:
2012/3 REO resale 224,000 ARMT 2007-1 netted this amount from auction of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $319,200 of principal (59%).
Page 120 of 158
77. Gomez, Agustin - North Chicago, Ill - Loans #700483712 & #700482472
Between 2003 and the end of 2006, Agustin increased his debt load from $117,600 to
$1,424,277 - a 1200% increase.
Agustin’s net income did not increase 12 fold during that time span - he is a registered truck
driver in lllinois - average income $35,000 to $45,000.
2004/9 218,405 114 N Mcaree Waukegan Tamayo Fin - 95% fin - default
2005/5 182,300 1004 Lorelei Dr, Zion Tamayo Fin - 95% fin - default
2005/7 139,500 1022 Pine St Waukegan Tamayo Fin- refi $21,900 cash out- default
2006/5 304,572 3814 Tickseed Dr, Zion Tamayo Fin - 100% fin - default
2006/11 232,500 1446 Park Av, N Chicago CSFB- 95% finan.- default
Agustin was a frequent customer of CSFB, taking out 4 loans within a few days.
The two properties financed by CSFB with 4 mortgages were both purchased from the same
seller - George Moore.
2012/3 REO resale 102,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $130,500 of principal (56%).
2014/10 REO resale 103,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $169,142 of principal (75%).
Page 123 of 158
78. Ayala, Rigoberto - 605 Longfellow Lane, Lake Mundelin, Ill - Loan #700438904
2013/9 REO resale 46,000 ARMT 2007-1 netted this amount from auction of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $95,616 of principal (66%).
Page 124 of 158
79. Lopez, Maria L - 353 Dorset Ct, Park City, IL - Loan #700405143
2012/8 REO resale 84,000 ARMT 2007-1 netted this amount from auction of property
CSFB sold the 2nd mtg to HEMT 2006-6 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $96,000 of principal (53%).
Page 125 of 158
2011/10 REO resale 53,000 ARMT 2007-1 netted this amount from auction of property
The investor in the CSFB 2nd mtg lost all of its investment.
ARMT 2007-1 lost a minimum $154,089 of principal (96%).
Page 126 of 158
81. Rodriguez, Benjamin - 38205 N Lewis Ave, Beach Park, IL - Loan #700501820
ARMT 2007-1 invested $125,000 with this house as collateral:
2011/6 REO resale 29,500 ARMT 2007-1 netted this amount from auction of property
82. Lee, John P - 5647 Virginia Ave, Clarendon Hills, IL - Loan #700468861
ARMT 2007-1 invested $225,000 with this house as collateral:
2009/5 REO resale 119,000 ARMT 2007-1 netted this amount from auction of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $106,000 of principal (47%).
Page 128 of 158
83. Rymarcsuk, Ted - 671 W Barry Ave, Addison, Ill - Loan #700469764
ARMT 2007-1 invested $480,000 with this house as collateral:
2009/5 short sale 339,000 ARMT 2007-1 netted this amount from auction of property
Graham continually increased his debt load from 2001. (During 2005-2008 Graham managed a
restaurant called “Sautee Bistro” - avg earnings $40,000 to $60,000. Before that he sold
computer software.)
2002/11 133,680 2427 E Del Rio Dr Desert Sch FCU - refi 1st mtg - default
2003/11 24,381 2427 E Del Rio Dr Desert Sch FCU - refi 2nd mtg
2005/2 49,309 2427 E Del Rio Dr Desert Sch FCU- 2nd mtg- $24,928 cash out
2005/2 104,000 15418 E Mustang Dr Desert Sch FCU - refi- $26,000 cash out - flipped
2005/5 91,000 2427 E Del Rio Dr Desert Sch FCU- 2nd mtg $41,691 cash out
2005/6 93,200 540 N May #1062 Security Natl - 100% financing - flipped
2005/6 93,600 540 N May #3151 Security Natl - 100% financing - flipped
2006/5 167,000 2427 E Del Rio Dr Desert Sch FCU- 2nd mtg $76,000 cash out- flipped
2006/5 23,694 540 N May #1062 Desert Sch FCU- 2nd mtg- $394 cash out- flipped ‘07
2006/5 23,795 540 N May #3151 Desert Sch FCU- 2nd mtg- $395 cash out- flipped ‘07
2006/10 567,000 254 W Krista Wy Desert Sch FCU - 80% financing - default
Graham sold his primary residence - 2427 E Del Rio - in 2006 for enough to pay off his current
mortgages and have a down payment on 254 W Krista (at an inflated price). The debt on 247 W
Krista was more than Graham could afford.
The two condos at 540 N May were both sold at a slight net-loss to pay off Security National &
Desert Sch FCU. [The purchasers of both condos later defaulted.]
2012/1 REO resale 353,000 ARMT 2007-1 netted this amount from sale of property
85. Francois, Pierre - 612 Hyde Park Ave, Roslindale, MA - Loan #700486699
Francois purchased and flipped almost $3 million of properties over the course of a year.
Date Amount Property Comments
2005/9 445,000 48 Walworth Sale to Francois - from Odimegwu, who paid $340,000
for prop. during 2005/6
422,750 Same Option One mtg - property flipped to Laurent, who then
defaulted
2005/12 295,000 4008 Washington #2A Sale to Francois - from Odimegwu, who paid $136,666
for prop. during 2005/12
295,000 Same Acccredited - 1st & 2nd mtgs - property flipped to Camy,
who then defaulted
2006/1 325,000 41 Seymour St #1 Sale to Francois - from Odimegwu, who paid $207,000
for prop. in 2005/12
308,750 Same Argent - 1st mtg - property flipped to Calix, who then
defaulted
2006/2 335,000 41 Seymour St #3 Sale to Francois - from Odimegwu, who paid $207,000
in 2005/12
335,000 Same Fremont- 1st & 2nd mtgs - property flipped to Larione,
who then defaulted
2006/7 520,000 51 Stanwood Sale to Francois, who chopped house into 3 condo units
and sold them- one unit to Camy, who then defaulted
468,000 Same Wells Fargo - 1st mtg - property flipped as condo units
2006/12 450,000 612 Hyde Park Sale to Francois - from Odimegwu, who paid $370,000
for prop. during 2006/3
When Francois could not flip 612 Hyde Park, investors in the CSFB mortgages took heavy
losses.
2007/4 3rd mtg 35,000 Odimegwu recorded 3rd mtg loan (for 5% downpayment)
2012/3 REO resale 128,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $232,000 of principal (64%).
Page 133 of 158
2007/1 1st mtg 480,000 CSFB- refi $35,000 cash out - defaulted
2012/1 REO resale 138,500 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $341,500 of principal (71%).
Page 134 of 158
2011/8 REO resale 223,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2006-6 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $193,000 of principal (46%).
Page 135 of 158
2009/9 REO resale 170,000 ARMT 2007-1 netted this amount from sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $222,000 of principal (57%).
Continued next page…
Page 136 of 158
2003/11 329,000 72 Pearl Ave Reliant Mtg - refi - $67,000 cash out
2005/3 399,500 10 Ambrose St 1st Franklin- refi $59,500 cash out- defaulted
2005/3 468,000 72 Pearl Ave Option One- refi $139,000 cash out- defaulted
2006/10 427,500 225 Leyden St Lancaster Mtg- refi $96,000 cash out- defaulted
2007/3 376,000 10 Ambrose St Union Capital- refi $47,500 cash out- defaulted
Total: $4,692,850
Page 137 of 158
89. Hercules, Guillermo - 111 Trenton St, East Boston, MA - Loan #700481386
ARMT 2007-1 invested $388,000 with this house as collateral:
2005/4 1st mtg 343,994 1st Horizon- refi $43,838 cash out
2010/4 REO resale 188,500 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $222,000 of principal (57%).
Continued next page….
Page 138 of 158
CSFB also financed another property for Hercules and sold the 1st mtg to CSMC 2006-2…
2006/5 2nd mtg 84,167 Sovereign Bank- refi $1667 cash out - default
2010/2 short sale 293,000 CSMC 2006-2 netted this amount after sale of property
90. Posada-Mutate, Ovidio - 51-53 Rock Valley Ave, Everett, MA - Loan #700484303
2009/7 short sale 222,500 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $149,500 of principal (40%).
Page 140 of 158
2005/6 2nd mtg 620,000 Bank of America- refi $270,000 cash out
2007/1 1st mtg 1,912,500 CSFB- refi $292,500 cash out - defaulted
2014/4 REO reslae 1,450,000 ARMT 2007-1 netted this amount after sale of property
92. Reyes, Carlos - 445 University Blvd E, Silver Spring, MD - Loan #700354329
2009/7 REO resale 193,500 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2006-5 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $178,500 of principal (48%).
Page 142 of 158
93. Albrecht, Laurence - 558 Sombrero Beach Rd, Marathon Key, FL - Loan #700499757
2009/7 REO resale 493,000 ARMT 2007-1 netted this amount after sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
ARMT 2007-1 lost a minimum $770,745 of principal (83%).
Page 143 of 158
94. Robinski, Alon - 3341 Riviera Dr, Key West, FL - Loan #700460538
2009/7 short sale 437,000 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $323,000 of principal (43%).
Page 144 of 158
2009/7 short sale 343,000 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $243,000 of principal (42%).
95. Stapleton….continued
Loan #700471799:
ARMT 2007-1 invested $399,200 with 6509 Bayshore Blvd, Tampa as collateral:
1974/1 Sale n/a Deed to Lind - estimated $15,000 (predates electronic record)
2009/7 short sale 121,000 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $278,200 of principal (70%).
Page 146 of 158
Christopher owned bars called “Scoreboard Lounge”, “Nite Gallery Bottle Club” and “Club 92”.
Christopher took out over 30 loans during two years, defaulting on all outstanding by 2008.
2005/10 439,450 1401 Gulf Blvd, Belleair Fremont - 90% financing - flipped
2005/12 383,400 941 Spruce Dr, Belleair Bch Fremont - 95% financing - flipped
2006/3 540,000 100 5th St, Belleair Beach New Century - 100% financing - default
2006/3 840,000 1540 Gulf Blvd #2006 TaylorBean- refi $195,450 cash out- default
2006/6 517,500 107 25th St, Belleair Bch Novastar - 90% financing - flipped
2006/6 539,000 6211 Bayshore Blvd, Tampa Fremont - 90% financing - default
2006/8 567,000 6227 Bayshore Blvd, Tampa Novastar - 90% financing - defaulted
2006/11 399,200 6509 Bayshore Bv, Tampa CSFB - 95% financing - defaulted
2007/1 580,000 17251 2nd, Redington Bch CSFB - 95% financing - defaulted
2007/2 490,000 553 Lillian, Madeira Beach Countrywide - 90% financing - defaulted
2007/2 507,500 12255 4th, Treasure Island Countrywide - 90% financing - defaulted
2007/3 490,000 547 Lillian, Madeira Beach Countrywide - 90% financing - defaulted
2007/4 514,500 12270 4th, Treasure Island Countrywide - 90% financing - defaulted
Total: $11,970,300
Christopher is doing 7 years in federal prison for mortgage fraud [all his 90%+ financings were
the result of inflated property values].
Page 148 of 158
96. Cobb, John Phelps - 9406 Treasure Lane, St Petersburg, FL - Loan #700492479
John, who appears had no steady job, took out a few loans during 2006/7:
2002/3 88,000 9715 54 Ave, St Pete Chevy Chase - refi $26,000 cash out
2002/7 31,000 1231 15 Ct, Largo Market St Mtg - 2nd mtg $31,000 cash out
2005/5 143,500 9715 54 Ave, St Pete MacDill FCU - refi $63,500 cash out
2006/10 300,000 2828 Pinellas Pt, St Pete Amer Broker Conduit - 100% financing - defaulted
Between October 2006 and January 2007, John borrowed $1,586,000 via 9 loans.
ARMT 2007-1 invested $396,000 with this “Treasure Lane” house as collateral:
2006/6 Sale 314,000 Deed to Smart (relative of Cobb)- price inflated 64%
2010/12 REO resale 134,757 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2007-2, which lost all of its investment (100%)
ARMT 2007-1 lost a minimum $379,151 of principal (96%).
Page 150 of 158
97. Snyder, Kimberly & Bruce (relatives) - Loans #700424764, #700430514 & #700415740
Kimberly, who lives(d) on Sullivan St in Manhattan, went on a buying spree in Tampa during
2006 - largely financed by CSFB:
2006/4 180,240 4415 Reynolds Amer. Broker Conduit- 90% financing- default
All three CSFB financed units were in the same development (and looked the same):
Page 151 of 158
Snyder defaulted on all the loans by the end of 2007 - all the properties were sold in short sales.
2008/12 short sale 110,250 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2006-6 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $60,542 of principal (35%).
2008/12 short sale 104,000 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2006-6 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $66,792 of principal (39%).
2009/3 short sale 107,000 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2006-4 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $64,536 of principal (38%).
Page 152 of 158
Charles took out a few loans during 2005/6 to go shopping in Longwood, FL:
2005/4 255,900 115 Sweetwater Hills 1st Guaranty - 100% financing - flipped
2005/7 649,900 3059 Totika Cove AllianceBanc refi $35,000 cash out- default
2006/5 960,000 3152 Penwa Ct WaMu- refi - $235,000 cash out- default
2006/8 105,000 3152 Penwa Ct Secured- 2nd mtg $105,000 cash- default
2006/8 268,800 610 Fox Valley Rd Volusia Asset -80% financing - flipped
Total: $5,682,300
Several properties were purchased from the same seller - Sarafian.
Charles defaulted on all outstanding loans before the end of 2007.
2012/10 REO resale 195,000 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $290,990 of principal (76%).
Loan #700481017 - 601 Blue Lake Dr, Longwood FL - purchased from Sarafian
ARMT 2007-1 invested $424,000 with this house as collateral:
2012/10 REO resale 188,000 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $320,631 of principal (76%).
Page 155 of 158
CSFB made at least 10 loans against units in this condo (all defaulted) - and five were sold to
ARMT 2007-1:
2010/5 REO resale 54,500 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $139,754 of principal (84%).
2009/2 REO resale 46,500 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $63,330 of principal (58%).
[CSFB sold ARMT 2007-1 a second loan with Crincoli - #700429529. This loan of $137,830 was
secured with a 1st mtg on unit #305 at the Camargo Condo - down the road from Crescent
Place. Crincoli defaulted on the 1st mtg loan and a $39,380 CSFB 2nd mtg, too. ARMT 2007-1
lost a minimum $80,672 (59%) on #700429529. CSFB sold the 2nd mtg to HEMT 2007-2 which
lost all of its investment (100%).]
Page 157 of 158
2010/12 REO resale 30,500 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $100,103 of principal (91%).
2009/7 REO resale 49,250 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $145,913 of principal (84%).
2010/7 short sale 26,500 ARMT 2007-1 netted this amount after sale of property
The investor in the CSFB 2nd mtg lost all of its investment.
ARMT 2007-1 lost a minimum $97,420 of principal (79%).
Page 158 of 158
2010/5 REO resale 292,500 ARMT 2007-1 netted this amount after sale of property
CSFB sold the 2nd mtg to HEMT 2007-2 which lost all of its investment (100%).
ARMT 2007-1 lost a minimum $272,789 of principal (55%).