The FHA Title I and Plus I Home

The FHA Title I and Plus I Home Improvement Loan Programs 3/12/2021 ****CONFIDENTIAL**** 1

We’re Admirals Bank Ø Lend for home improvement projects in all 50 states Ø Have been offering home improvement loans since 1987 § Most widely used Title I lender in America Ø Strong focus from Bank management on home improvement and renewable energy lending § Home improvement programs customized through market feedback § Unlimited capacity for support Ø Lending centers in Boston and Providence 3/12/2021 ****CONFIDENTIAL**** 2

Admirals advantages Ø No money down home improvement solution § Maximum return on investment Ø Lending options with flexibility and choice § Both secured and combo secured/unsecured loan options available • No equity or appraisal needed § Flexible terms up to 20 years § Fixed rates $50, 000 Home Improvement Loan § Pay off early with no penalties § Ability to fund customers down to 640 middle FICO score 3/12/2021 ****CONFIDENTIAL**** 3

Setting yourself up for success Ø Customer experience is the #1 priority Ø The Product Guide and Contractor Dashboard on the Admirals website (www. admiralsbank. com) are your resources to… § Create a great customer experience Drive more deals! § Assess your customer as a home improvement loan candidate § Set the stage properly § Convey the value proposition Sell more home improvements! § Get an application started § Close more deals and avoid cancellations 3/12/2021 ****CONFIDENTIAL**** 4

Process Guide Call the Loan Advisor and upload the proposal! (get the customer pre-qualified and applied) Assess customer as a loan candidate (use Product Guide) Quote payments Ø Ø 5 minutes! Track funding progress (on “Loan Statistics” on Contractor Dashboard) Sign contract (if customer is prequalified) Admirals loans can fund as quickly as 11 -12 business days after application § Day 1: Pre-qualification (99% certainty) and loan application (over the phone in 5 minutes) § Day 2 -7: Full approval (closer to 2 if customer submits docs quickly) § Day 8: Loan closing (regulation requires 7 day review period from initial disclosures) § Day 11: Loan funding (regulation requires 3 day right of rescission period after closing) Use Product Guide to help customer understand which docs they need to gather or simply have your customers contact Admirals directly! 3/12/2021 ****CONFIDENTIAL**** 5

Introducing…the new Plus I Ø Low payments from day 1, maximum savings Ø Can still access up to $50, 000 Ø For 700+ FICO customers only (640 -699 FICO customers still step down the loan) $25, 000 Plus I Loan $25, 000 Title I Loan 3/12/2021 = ****CONFIDENTIAL**** Borrow $50, 000 for Home Improvements 6

So, what else is new? Ø Besides the update to the Plus I loan, we’ve got a lot going on… ü Loan Officers available to handle customer inquiries, pre-qualifications and loan applications from: • Monday- Friday: 8: 30 AM to 8: 00 PM • Saturday: 9: 00 AM- 5: 00 PM ü Pre-qualify your customers with great certainty over the phone ü More support from the bank…easier sales for you 3/12/2021 ****CONFIDENTIAL**** 7

Competitive landscape Ø HELOCs Ø Other home improvement loans § Equity requirements normally capped at 80% LTV § Lines of credit can be reduced based on market conditions § Rates often adjustable—payments can rise! § Cannot re-amortize § Lender 1: Can have large dealer fees and a waning appetite for new business § Lender 2: Short terms, high payments § Lender 3: No re-amortization, no online tools Admirals is the heavyweight champion! 3/12/2021 ****CONFIDENTIAL**** 8