The International Borrower

1. The International Borrower Cesar Arguelles Area Manager

2. Welcome - Today You Will Learn: • Key Definitions – Borrower Profile and Restrictions • Proof of Residency • Eligibility Classifications • Basic Guidelines

3. Key Definitions – Legal Definitions Legal Definitions of a Borrower, according to Citimortgage (“CMI”): • Individuals of legal age – in accordance with local/state jurisdiction – and able to enter into a binding contract prior to the execution of the Note and the Security Instrument. • Acceptable Inter Vivos Revocable (a.k.a. Living) Trusts provided it is established by, and the primary beneficiary is, an individual. • Land Trusts provided the beneficiary is an individual.

4. Key Definitions – Borrower Profile CMI will originate loans to U.S. citizens, citizens of U.S. territories, and the following non-U.S. citizens: • Permanent Resident Alien (a.k.a. Immigrant) • Non-Permanent Resident Alien (a.k.a. Non-Immigrant) • Non-Resident Alien

5. Key Definitions – Borrower Profile • Permanent Resident Alien is defined as an individual who, though not a U.S. citizen, is granted the right to work and live permanently in the United States. The U.S. Citizenship and Immigration Services (USCIS) refers to these individuals as immigrants. In addition to the above, refugees and others who are seeking political asylum-which are immigrating to, and seeking permanent residency in, the United States-also fall under the PRA classification. The USCIS has special immigration programs that enable these individuals to seek (and accept) employment while they are in the process of obtaining their PRA status. A process that generally takes two to three years.

6. Key Definitions – Borrower Profile • Non-Permanent Resident Alien is defined as an individual who is granted the right to work and live in the United States for a fixed period of time and for a specific purpose. The USCIS uses the word “non-immigrant” to describe these individuals. The following visa classifications are considered non-immigrant: treaty trader/investor, temporary worker/trainee, NAFTA workers, intra-company transferee, internationally recognized athlete, entertainer, religious worker or NACARA beneficiaries. NACARA – Cuba, El Salvador, Guatemala and Nicaragua Beneficiaries seeking Permanent Residency: Individual from these countries has congressional approval to apply for their green card without going through the normal approval/review process required of other NPRA.

7. Key Definitions – Borrower Profile • Non-Resident Alien is defined as an individual who has been granted the right to enter the U.S. on a temporary basis, but generally is not authorized to live or work in the U.S. Examples of an NRA include visitor for business or pleasure, student, etc. NRA are not eligible for financing under the same terms-product, transaction type, occupancy status, and LTV ratio-that we offer to U.S. citizens, PRA, or NPRA.

8. Key Definitions: Restricted Borrowers • CMI does not lend to the following: • Countries, individuals and/or entities identified by OFAC (Office of Foreign Assets Control) as prohibited. [Examples: Cuba, N. Korea] • Properties located outside the United States, including Virgin Islands, Puerto Rico, and Guam. • Corporations • Partnerships • Estates of Life Estates • Trusts (with the exception of inter vivos revocable “Living” trusts and Land trusts) • Not for Profit Organizations, Schools or Churches.

9. Proof of Residency: Perm. Resident Alien • Proof of Residency Status Verification Requirements (CMI): • Non-U.S. applicants must provide proof of residency status (i.e. visa classification). • Permanent Resident Alien - Evidence required to demonstrate one’s legal right to work in the U.S. includes one of the following: • I-151: Alien Registration Receipt Card (“Green Card”) that does not have an expiration date on the back; or • I-551: Alien Registration Receipt Card (Resident Alien Card/“Green Card”) that does not have an expiration date on the back; or • I-155: Alien Registration Receipt Card (Conditional Resident Alien Card) that has an expiration date on the back, as long as it is accompanied by a copy of an USCIS form I-751; or • Unexpired Foreign Passport: Must contain an unexpired stamp reading: “Processed for I-155 or I-551 Temporary Evidence of lawful Admission for Permanent Residence Valid until MM-DD-YY Employment Authorized”

10. Proof of Residency: N. Perm. Resident Alien • Proof of Residency Status Verification Requirements (CMI): • Non-Permanent Resident Alien – Borrower/co-borrower whose income is used to qualify on the loan must: • Currently reside in the United States • Be employed in the United States – source of income must be verified and expected to continue for three years; and • Have a two-year work history • Satisfy our basic underwriting guidelines

11. Proof of Residency: N. Perm. Resident Alien • Proof of Residency Status Verification Requirements (CMI) cont’d: • Evidence demonstrating their right to live and work in the United States, which includes: • Employment Based Immigrant • A copy of an USCIS I-94 card or unexpired foreign passport with one of the following visa classifications: H-1A, H-1B, E-1, E-2, L-1, P-1, R-1, TN; or • A copy of the Employment Authorization Document (EAD) as evidenced by an I-766, I-688A or I-688B Card containing the applicants Photograph. • Family Sponsored Immigrant & Visa Lottery Winner • A copy of an USCIS I-94 with one of the following visa classifications: H-1A, H-1B, E-1, E-2, L-1, P-1, R-1, TN; or • A copy of the Employment Authorization Document (EAD).

12. Proof of Residency: Non Resident Alien • Proof of Residency Status Verification Requirements (CMI): • NRA are not eligible for financing under the same terms-product, transaction type, occupancy status, and LTV ratio- that we offer to U.S. citizens, PRA, or NPRA. • The borrower must have non-mortgage related assets in a Citibank or a Citigroup affiliate, account. Non-mortgage related assets are any combination of the following: checking, savings, CDs or securities in a brokerage account. Insurance products are not eligible at this time.

13. Eligibility

14. Eligibility - U.S. VISA / Classifications • Key Abbreviations: • PRA = Permanent Resident Alien • NPRA = Non-Permanent Resident Alien • NRA = Non-Resident Alien

15. Eligibility - U.S. VISA / Classifications Ineligible Classifications: • A-1/A-2 (NPRA): Foreign Diplomatic Personnel: Employee of a Foreign Government (e.g. ambassador, diplomat, and minister). This status typically has diplomatic immunity. • A-3 (NPRA): Employees of Foreign Government Official: Attendants, servants, or personal employee of foreign government officials.

16. Eligibility - U.S. VISA / Classifications (CMI) NRA Program: • B-1 (NRA): Visitor for Business: Individual in the U.S. for a short period of time to engage in business activities such as negotiating contracts for overseas employees, consulting, or research. • B-2 (NRA): Visitor for Tourism: Individual in the U.S. for travel, tourism, or recreation. • C-1 (NRA): Aliens in Transit: Individual in transit from one country to another stopping over in the U.S.

17. Eligibility - U.S. VISA / Classifications (CMI) NRA Program (cont’d): • F-1 (NRA):Student: Individual engaged in a full course of academic or language study in an accredited educational program. • F-2 (NRA): Dependent of F-1 Visa Holder: Spouse and/or children of an F-1 student. • H-2A (NRA): Temporary Agricultural Worker • H-2B (NRA): Skilled or Unskilled Worker: Individual in a temporary position for which a shortage of U.S. workers exists, who is working for a specific employer for a temporary period.

18. Eligibility - U.S. VISA / Classifications (CMI) NRA Program (cont’d): • H-3 (NRA): Temporary Trainee of a U.S. Employer: Individual participating in a training program provided by a specific employer for a temporary period. • H-4 (NRA): Dependent of H Visa Holder • I (NRA): Representative of Foreign Information Media: Journalist or representative (and their dependents) of international media. • J-1 (NRA): Exchange Visitor (Student) • J-1 (NRA): Au Pair: Individual who is in the U.S. under the auspices of the United States Information Agency and a Designated Program Sponsor to serve as a live-in-child-care provider for a host family.

19. Eligibility - U.S. VISA / Classifications Standard CMI program: • E-1 (NPRA) Treaty Trader: Individual who conducts trade under a treaty between their country and the US and Key employees of companies trading under such treaties. • E-2 (NPRA) Treaty Investor: Individual who develops or directs the operation of an enterprise in which they have a substantial investment. Must be based on a treaty between the visa holder’s country and the US. • G-1 through G-4(NPRA): Rep. of International Organization – Individual and dependants of a representative for an International Organization.

20. Eligibility - U.S. VISA / Classifications All CMI programs: • H-1A(NPRA) Registered Nurse: Individual performing professional nursing services for a specific employer for a fixed period of time. • H-1B(NPRA) Temporary Worker in a Specialty Occupation: Individual performing professional services in a specific position for a fixed period of time. • K-1(NPRA) Fiancé/Fiancée of a US Citizen (US Citizen must be on loan). • L-1(NPRA)Intra-company Transferee: Individual who has been transferred from a subsidiary, affiliate, or branch office overseas to the US to work in an executive, managerial, or specialist capacity)

21. Basic Guidelines - CMI • NPRA (Non-Permanent Resident Alien) – Primary Residences only • NRA (Non-Resident Alien) – 2nd Home only • Max LTV of 80% and a $500,000 loan amount (max. sales price approx. $624,000) • Max LTV 85% and conforming loan amount • 1-unit property (condo, co-ops and PUDs) that the borrower occupies for some portion of the year in addition to their principal residence. • Traditional Credit – At least (3) tradelines. These may be a combination of credit cards, lines of credit and business related references. • Threee most recent months bank/asset statements for all accounts. • For self-employed borrowers: Letter from CPA/Accountant verifying annual gross income. • For Salaried borrowers: Letter from employer on company letterhead verifying employment and annual income as well as time employed in current position.

22. Questions? Cesar Arguelles, Area Manager Citimortgage 273 Alhambra Circle Coral Gables, FL 33134 (Office) 305-476-8599 (cell) 954-609-9405 (e-fax) 866-783-3513 e-mail: cesar.arguelles@citigroup.com