Carrington Property Services, LLC Expands National Property Management Capabilities.

* Company increases national infrastructure to rent Single-Family Residential and REO properties by opening two new offices and expanding two existing branches

SANTA ANA, Calif. -- Carrington Property Services, LLC, a national asset and property management company, has added two new property management offices in Ontario and Santa Fe Springs, California and expanded two existing offices in Las Vegas, Nevada and Miami, Florida. These additions increase its local property management capabilities and strengthen its national network, which manages and rents single-family residential homes owned by financial institutions.

"Carrington was one of the first to rent single-family residential and REO properties on a national basis, and currently manages the disposition of more than 8,000 properties," said Steve Ozonian, chief real estate officer of Carrington Holding Company, LLC, Carrington Property Services' ultimate parent company. "These new and expanded offices, combined with our local network of carefully selected property managers, firmly position us as one of the only companies with the infrastructure necessary to manage a national portfolio of single-family residential rental properties."

Consumers are increasingly choosing to rent rather than own. Connecting this growing demand for quality Single-Family Residential Rentals (SFRR) with the tremendous supply of potential rental homes is creating an expanded market for SFRR, which could play a key role in stabilizing the housing market. Recent support reported in the media for the rental strategy includes the following:

* In her Opening Remarks last September, Federal Reserve Governor Elizabeth Duke called "rental options among the mix of stabilization strategies [that] makes particular sense in a time of high unemployment."

* The Administration's February 2011 report to Congress entitled Reforming America's Housing Finance Market contains numerous references to renting, including this passage on page one: "Our plan champions the belief that Americans should have choices in housing that make sense for them and for their families. This means rental options near good schools and good jobs."

* According to Experian Hitwise, an Internet metrics firm, as reported in recent stories in Inman News and REALTOR[R]Mag traffic to real estate search sites jumped 27 percent last year - driven primarily by searches associated with renting. Seven of the top 10 searches on real estate search sites included the term "rent," five of 10 refer specifically to renting single-family homes.

* In April 2011, the Joint Center for Housing Studies at Harvard University released a study regarding America's Rental Housing, noting the "vital role that the rental sector plays in providing affordable homes on flexible terms" and predicting a significant increase in demand for rental housing. The report identifies a "flood of formerly owner-occupied homes into the rental market" with the number of single-family rentals jumping from 720,000 to 2.3 million in the last decade.

"We see tremendous demand for quality rental homes as people nationwide, for lifestyle or financial reasons, are choosing to rent rather than own," said Steve Ozonian. "Transitioning the backlog of housing stock into a rental strategy represents one way to meet this rising rental demand and to ensure there is an adequate supply of quality, affordable rental options for consumers. Carrington Property Services is uniquely positioned to implement this strategy."

Carrington Property Services currently has more than 8,000 properties under management, including a national rental portfolio of more than 4,000 SFRR properties. The company is a national vendor for Fannie Mae's Tenant-in-Place rental program. Carrington's network of over 2,000 real estate professionals and over 170 property managers provides local, property-level management nationwide. The company's proprietary software provides the portfolio and property-level control and reporting necessary to manage rental homes nationwide.

About Carrington Property Services and Carrington Holding Company

Carrington Property Services has become an industry-leading single-family residential and REO asset management company focused on providing property-specific, customized solutions to maximize the underlying value of REO assets. Carrington Property Services manages a nationwide network of regional and local property managers, with a 'boots on the ground' approach that ensures that third-party owned properties are managed effectively, whether they are listed for sale or held for rent. Carrington Property Service is an affiliate of Carrington Holding Company and the Carrington family of companies.

To learn more about Carrington Property Services, visit our website at www.carringtonps.com.

Founded in 2003, Carrington Holding Company, LLC and the Carrington family of companies have evolved from a mortgage credit asset manager into a vertically integrated specialty finance company. Together, the Carrington family of companies directs every aspect of the life cycle of single family residential assets - from investment and origination through asset management and disposition.

To learn more about Carrington Holding Company, visit www.carringtonhc.com.