Subject: The Bank specializes in providing personalized, relationship-based wealth management services, including private banking, investment management, trust, brokerage, and real estate lending.

From: Morin J. Alfred <[email-masked]>
Date: Thu, 28 Dec 2006 18:27:38 +0100

Impact has developed this format for the securitization of large-scale
pools of affordable housing mortgages.

"I think prices might drop a bit, but not very much. Information about
NAHREP is available at www.

"Housing in communities affordable for working families is in short
supply throughout the country," said Ellen Lazar, executive director of
Neighborhood Reinvestment.

The previous record of 414. Falling rates and the end of war have
improved the market's psychology somewhat, but sales are taking longer
as buyers ponder their decisions. Foreign investorsremain committed to
the United States and are finding that they needto develop a local
infrastructure if they are to be successful overthe long term. Dodge
county prices rose 3.

The next six cities were in the neighborhood of 3 percent. The overall
seasonally adjusted Conventional Index increased to 2716.

54 acres at the intersection of West Street and Chinquapin Road, is a
bold departure from the existing strip commercial character of the
area.

" Studies have shown that investments structured to meet community
capital needs can provide reasonable returns for investors. 81 percent
in April, up slightly from 5. Even privately held companies have to care
about independence, accuracy, and transparency, because these will be
the new 'best practices' in the industry.

15 percentage points from the 7.

"Consumer confidence rose following the swift action in Iraq, mortgage
interest rates have been at record lows and new-home sales rose sharply
in March," he said. "Luxury home prices in Los Angeles continue to
appreciate, and they remain stable in San Francisco and San Diego," said
Katherine August-deWilde, Chief Operating Officer of First Republic
Bank. David Lereah, NAR's chief economist, said the forecast has been
steadily upgraded all year. The regulatory structure that developed as a
result of FIRREA has become increasingly complex and inconsistent from
state to state. First- quarter buyers responded to record low interest
rates posted. Lereah said two factors account for the strong condo price
increase.

The latest interest rate drops tied to the expressed concerns of the
Federal Reserve over deflationary pressures in the economy have led to a
new flood of mortgage applications.

" Impact was created as a vehicle for insurers to invest in communities
in California and elsewhere in the United States. Because of some gaps
in data availability, the sales counts for several counties are
extrapolated.

14 percent from the previous record low of 5.

The developer, Saul Centers, Inc. Commerce Department's Census
Bureau.

1 percent of total applications from 76. "According to the Federal
Housing Finance Board, the average effective mortgage interest rate for
existing homes was 5.

The new Senate bill authorizes a one-time tax credit to first-time,
qualified homebuyers who are within the 27 percent tax bracket or lower
in the year before they purchase the home. "The spring home buying
season is under way, and builders are encouraged by the strong demand
they are seeing," said Kent Conine, NAHB president and a home builder
from Dallas. "Buyers are attracted to the low carrying costs, realizing
that even if prices decline somewhat, increased interest rates could
make their desired home much less affordable.

Housing Starts fall 6. , says, "Our area is a coastal beach area, which
attracts buyers looking for vacation homes and retirement homes.
According to community leaders and Greenlining, it is not too late to
reverse this trend toward a housing crisis.

Media reports indicated economists had expected a fall of 3. Freddie Mac
releases the Conventional Mortgage Home Price Index each quarter.

San Diego properties represent a cross-section of luxury homes in
Carlsbad, Coronado, Del Mar, Encinitas, La Jolla, La Mesa, Poway, Rancho
Santa Fe, San Diego and Solana Beach.