Exhibit 34.8

McGladrey LLP



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Report of Independent Registered Public Accounting Firm

To the Board of Governors

NorthMarq Capital,
LLC

Bloomington, Minnesota

We have
examined managements assertion, included in the accompanying Managements Report on Assessment of 2012 Compliance by NorthMarq Capital, LLC With Regulation AB Servicing Criteria (Managements Assertion), that NorthMarq Capital, LLC
(NorthMarq or the Company) complied with the servicing criteria set forth in Item 1122(d) of the Securities and Exchange Commissions (SEC) Regulation AB for services by the Company that are encompassed by contractual obligations to
perform Regulation AB reporting (the Platform), including only those asset-backed securities transactions defined below, as of and for the year ended December 31, 2012, excluding the following criteria set forth in Items 1122(d)(1)(iii),
1122(d)(3)(i)C and D, 1122(d)(3)(ii), 1122(d)(3)(iii), 1122(d)(3)(iv), 1122(d)(4)(vii) and 1122(d)(4)(xv), which management has determined are not applicable to the activities performed by the Company with respect to the Platform. Appendix A to
Managements Assertion identifies the individual asset-backed transactions defined by management as constituting the Platform. Management is responsible for the Companys compliance with the servicing criteria. Our responsibility is to
express an opinion on managements assertion about the Companys compliance with the servicing criteria based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants, as adopted
by the Public Company Accounting Oversight Board (United States) and, accordingly, included examining, on a test basis, evidence about the Companys compliance with the applicable servicing criteria, including tests on a sample basis of the
servicing activities related to the Platform, determining whether the Company performed those activities in compliance with the servicing criteria during the specified period, and performing such other procedures as we considered necessary in the
circumstances. Our procedures were limited to selected servicing activities performed by the Company during the period covered by this report and, accordingly, such samples may not have included servicing activities related to each asset-backed
transaction in the Platform. Further, an examination is not designed to detect noncompliance arising from errors that may have occurred prior to the period specified above that may have affected the balances or amounts calculated or reported by the
Company during the period covered by this report. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Companys compliance with the servicing criteria.

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As described in Managements Assertion, for servicing criterion 1122(d)(2)(i) and 1122(d)(1)(ii), the
Company has engaged vendors to perform certain activities required by these servicing criteria. The Company has determined that these vendors are not considered servicers as defined in Item 1101(j) of Regulation AB, and the Company
has elected to take responsibility for assessing compliance with the servicing criterion applicable to these vendors as permitted by Interpretation 17.06 of the SEC Division of Corporation Finance Manual of Publicly Available Telephone
Interpretations (Interpretation 17.06). As permitted by Interpretation 17.06, the Company has asserted that it has policies and procedures in place designed to provide reasonable assurance that the vendors activities comply in all material
respects with the servicing criterion applicable to these vendors. The Company is solely responsible for determining that it meets the SEC requirements to apply Interpretation 17.06 for the vendors and related criterion as described in its
assertion, and we performed no procedures with respect to the Companys determination of its eligibility to use Interpretation 17.06.

In
our opinion, Managements Assertion that the Company complied with the aforementioned applicable servicing criteria as of and for the year ended December 31, 2012, for the Platform is fairly stated, in all material respects.

/s/ McGladrey LLP

Minneapolis,
Minnesota

February 1, 2013



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