Portfolio Valuations

Repossessions (REO) and real estate collateral debt (PL/NPL) for:

1.Investors interested in buying/selling portfolios in the different phases of tenders (IO/LOI, NBO and BO) prior to the PSA (purchase and sale agreement)

2.Agents involved in the selling of portfolios (Funds and Servicers)

3.Foreclosures (advice to financial institutions on its foreclosure portfolio, as well as on its evolution)

4.Periodic guidance, analysis of evolution, mergers and acquisitions (financial institutions, endowments, Socimis)

AVM

Automated Valuation Model (Automated Valuation Model): AVM Alia is an internally-owned application in permanent update that gets estimated property values, on a specific date, using calibration techniques (ratios) and statistical models both from our internal data bases (appraisals and comparables) and also from external sources.

The system complies with the requirements established in the Standard on Automated Valuation Models (AVMs) and in the Standard on Ratio Studies, adopted respectively in 2003 and 2013 by the International Association of Assessing Officers (IAAO).

AVM Alia includes a validation system (back testing) for the implementation of Circular 4/2004 of the Banco de España, and is also used for our VEICS service (Verification of the existence of evidence of significant drops) through which we give support to financial institutions for the purposes of the aforementioned circular.