Excludes loans for properties previously owned by borrower & refinanced with DHM loan. In addition DHM loan payoffs by refinancing with another lender. Also excludes loans that defaulted and became Real Estate Owned. properties. Where available, profit was calculated using proceeds to seller acquired from borrower resale HUDs. Where borrower resale HUDs were not available, profit was calculated using sale price from public records and estimated closing costs of 7% of resale price. All calculations include estimated valuation and inspection costs of $800 and estimated holding costs of 0.08% of the resale price per month the property was held. Profit calculations are AFTER paying borrower back their cash-to-close and earnest money deposit.