Special Edition: Real Country of Genius: Today we Salute you America. Mortgage Implosions from Sea to Shining Sea.


In the last two weeks, the market has gone bipolar because of the credit market implosion. It turns out that housing does carry a lot of influence even in the stock market. Even after the Fed injection of credit heroine, the market is still down 10 percent from its peaks last month. Most housing market pundits actually think we are turning around. Suddenly we are in a recovering market because the Fed cut the discount rate by a few basis points. So today, we are going to inject some of our own reality and do a special edition of Real Homes of Genius. Today we salute you America, with our Real Country of Genius Award.

It is important to understand that the nucleus of the housing bubble is born in large urban metropolitan areas. You know, the areas where the bulk of Americans took out super crazy inflated mortgages? We realize that certain areas in Oklahoma or North Dakota are fairly priced but the trillions of dollars in bad mortgage debt permeate from these over priced areas. Today we will examine short sales and foreclosed homes in Florida, Arizona, Washington D.C., California, and Nevada. From sea to shining sea, buyers don’t seem to be biting anymore. Like a fish attracted to a shiny metallic lure recent buyers don’t seem so attracted to granite countertops or faux marble Jacuzzis. Even if they feel like a moth needing to dash toward the light, no longer are boiler room mortgage outfits there to feed their addiction. Let us present the evidence:

#1 Fort Meyers – Florida

Our first gorgeous home is located in Fort Meyers Florida. This massive home spans out over 1,072 square feet and includes 3 full bedrooms and 2 partial baths. Take a look at the beautiful peach color. I’m convinced! No housing bubble. The current price is $149,900. Any person in a high priced metro area must be saying, “how is this a Real Home of Genius? It is fairly priced.” Well everything is relative isn’t it? Let us take a look at the sales history:

Sale History

04/27/2006: $190,000

03/01/1995: $48,900

So this home is off a whopping 21 percent in one year. It is all about location, location, and location with real estate. It doesn’t look like a soft landing for this fruit inspired home.

#2 Phoenix – Arizona

Our next home takes us from the tropical climate of Florida in the east coast, all the way back to the dry arid desert of Phoenix Arizona. Arizona is the center of the housing boom. Builders came out in droves to erect McMansions in the middle of the sandy desert. But this home defies the McMansion granite countertop standard. Why go with a new home when you can have a tree covering up half of your property? This 1,248 square foot 3 Bedroom 2 bath home is priced at $199,900. Not a bad price. But what is the sales history?

Sale History

12/01/2005: $282,000

07/05/2005: $153,000

01/30/2003: $106,000

This is a nice discount of $82,100 in two years. If you want to be quantitatively driven, this place is down a whopping 29 percent. I’m not sure what constitutes a crash but we are approaching it in many areas. Does this look like a recovering market? Let us move on.

#3 Las Vegas – Nevada

Sin city baby! Flashing lights, all you can eat buffets, the sound of slot machines, and gambling. This gambling also spilled over into the current housing arena and meshed well with the speculative credit bubble. Our next home is actually a condominium but follows the same Real Homes of Genius rules. This condo has 3 bedrooms and 2 baths, and has plenty of space with 2,021 square feet. Vegas has gotten expensive recently hasn’t it? Well this place is currently priced at $650,000. But what was the previous sales price? Oh boy…

Sale History

05/04/2006: $850,000

A $200,000 hit in one year. Or a 23 percent discount. I’m curious to know who held onto this note or what kind of mortgage backed portfolio held this beauty. Again, I’m not sure how the Fed expects that giving lenders some breathing room is going to fix some of these over inflated areas. Many folks decided to tap out their equity and spend like drunken hyenas. When you see toxic mortgages hitting multiple metro areas maybe it is time for a serious correction without government corporate welfare.

#4 Washington D.C.

Welcome to the heart of the country, Washington D.C. A place of politics, the U.S. Treasury, and the most famous White House in the planet. I wonder if the current administration took out a home equity line of credit on 1600 Pennsylvania Avenue. But this place isn’t immune from the housing bubble. This gorgeous home is nearly 100 years old. This is a large 4 bedrooms and 3 baths home situated on 1,486 square feet. The current price is $250,000, which seems like a bargain for such a large home. What did this place sell for 2 years ago?

Sale History

06/21/2005: $360,000

Another massive discount. This place is selling for $110,000 below the previous sale price. Or to give you another perspective, a 30 percent discount. Now tell me again how injecting more liquidity in the market is going to help homes like this?

#5 Compton – California

Finally, we come back to the west coast once again and leave it to California to have a flipper in this current market! Not only a flipper, but a flipper in Compton! This massive 618 square foot home with 2 beds and 1 bath, is currently listed at $350,000. Let us dig into the details of this place:

Sale History

07/26/2007: $230,000

Price Increased: 08/18/07 — $299,000 to $350,000

Some one picked up a property on the cheap and is trying to sell the place for a profit of $120,000. Instead of lowering the price, these folks actually shot it up by $50,000. You may be scratching your head but given that this home has only been on the market for 20+ days, they have yet to realize that the inventory here in Southern California is growing exponentially. They are using a different compass because every county in Southern California is heading south. Also, the summer selling season is coming to an end and the subprime market is now down and out. The income for a family in this area is approximately $48,000 a year so the only way a local buyer would qualify is with a subprime loan. The numbers do not work on this place as an investment property. Appreciation is non-existent. So I wonder who would buy this place. Any guesses folks?

Subprime. 2/28. Interest only. Option ARM mortgages. REOs. We’ve been talking about these topics for sometime now. As these words hit the mainstream media it seems that folks want an instant solution to a multi-year problem. Folks still want to tap their home like an American Express card and the housing syndicate is now telling folks that today is a good time to buy. Their logic is if you do not buy now, interest rates may be higher next year and the market will price you out. In addition, these above homes are hot commodities (some have been on the market for almost a year) that if you do not buy now, some renegade flipper will swoop underneath you and buy the home. The only folks that can get fantastic terms right now are those with solid credit and some sort of down payment; go figure that people that have managed their finances wisely do not want to jump into these homes. Could it be that the $5 trillion in pseudo housing wealth is getting ready to disappear? A more recent study by Dean Baker over at the Center of Economic and Policy Research puts the housing bubble wealth at $8 trillion. How do they arrive at this figure? 100 years of data has housing trending with inflation and if we are to adjust back to historical models, we are overpriced by 50+ percent in many areas. Seems hard to believe that we can drop by 50 percent but as you can see from digging into the market data, we are already dropping 20 to 30 percent. Are you ready to buy?

Today we Salute you America, with our Real Country of Genius Award.

Related Posts:

Real Homes of Genius: Special Edition, Lifestyles of the Poor and Notorious. 10 Southern California Homes that Prove a Gargantuan Housing Bubble.

$5 Trillion in Housing Wealth Gone: The Impact of the Housing Bubble Bursting

The Cost of Mortgaged Suburbia: 3 Modern Housing Psychological Shifts

Housing and the age of Affluence: Transforming the Definition of Income and Wealth

Mortgages 101: Rule #1, Read your Mortgage! Riding the Mortgage Default Wave.

The Foreclosure Story: What does the Process Look Like?

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18 Aug, 2007  real-homes-of-genius





22 Responses to “Special Edition: Real Country of Genius: Today we Salute you America. Mortgage Implosions from Sea to Shining Sea.”

  • The North Coast
    August 18, 2007 at 8:03 pm

    The houses you picture on this post may not seem expensive to denizens of CA, but they are grossly overpriced for their respective locations.

    The dump in D.C. is a great illustration. It looks to be located in the type of nabe where the median income is about $12,000 a year in food stamps,Section 8 rent subsidies,and shoplifting proceeds; and where nobody earns more than $9 an hour in the best of circumstances. Might I also add that D.C. has murder and other index crime rates second only to St. Louis and Detroit?

    The place in Fort Meyers is similar-an absolute slum in a dangerous neighborhood lacking in amenities and unsafe to walk in during daylight hours,in a state known for low wages. It ought to be priced at about $60K, max.

    Phoenix, simil. You are either very well-paid indeed or you are a recent immigrant mowing lawns and swabbing out swimming pools. The house pictured is an absolute slum.

    Los Vegas is another place of low-wage service jobs. This complex looks like any crap rental in the Chicago suburbs.

    Reply
  • Tyrone
    August 18, 2007 at 9:00 pm

    Bravo, Doctor!

    Reply
  • jaye
    August 18, 2007 at 10:49 pm

    Where’s the flamingos to match the Florida house? Could be a real selling point! LOL

    OMG! The Arizona house looks like the one I drive by everyday, the only thing missing is the billy goat!

    The DC home…Spooky, I’m sure that house has some ghosts lurking behind that front door

    The Compton house, check out all the electrical wires and poles accentuating the architectural lines of the home, it leaves me in tangles!

    Too funny!

    Reply
  • Chris
    August 18, 2007 at 10:53 pm

    Best post yet Dr. Well Said.

    For those market traders out there, am I the only one that is seeing the “fear and greed cycle”? 🙂

    The house in Phoenix really catches my attention. I am from there. When I moved out from the beautiful desert to Dallas, the cost of living was about equal. Now, with the ignorance that took place housing in the Phoenix metro area is insane.

    At least this meltdown will have the affect that my dear mom in Phoenix will now be able to buy a home in the near future. She has these crazy notions of wanting to put down money and have manageable fixed payments.

    Reply
  • thamnosma
    August 19, 2007 at 12:34 am

    CEO Angelo Mozilo has cashed in shares worth $356,000,000 from Countrywide while driving into the ground. He is a criminal whose assets should be seized to build high-density, affordable housing for all the illegal aliens in LA. Then he should be shot. (Said with some jest, please).

    Reply
  • Steve
    August 19, 2007 at 6:11 am

    I would love to see some Real Homes of Genius Detroit style, but prices are dropping so fast it’s hard to keep up. If there was ever a city built on cheap and easy credit, Detroit is the poster child.

    My prediction for Detroit… Cerberus goes under, sells the Jeep name to GM and shuts Chrysler down. Best I can figure is that they bought Chrysler for the financing arm and eventually this credit crunch will turn off the 0%/60 month car loans so that will be worthless.

    Also they paid billions for half of GMAC, which will also end up pretty much worthless. I’m thinking Ford will survive via bankruptcy and GM will find a way to barely avoid bankruptcy.

    In the end the UAW is decimated and all of the Real Home of Genius paid for by UAW janitors make 100K per year are going to go Bye-Bye!

    Reply
  • Tyrone
    August 19, 2007 at 7:33 am

    I haven’t been tracking the numbers, but if Angie Mozilo cashed out $356,000,000 worth of stock, that is truly criminal. Why do corporations think CEOs are worth 10’s or 100’s of millions? That insanity must stop.

    Reply
  • Liberal
    August 19, 2007 at 7:44 am

    This is JUST a partial list!!!!!!
    What a fraudster!!!!

    13-Aug-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $14.69 per share. $675,740
    13-Aug-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $28.40 per share. $1,306,400
    8-Aug-07 MOZILO ANGELO R
    Officer 92,000 Direct Option Exercise at $14.69 per share. $1,351,480
    8-Aug-07 MOZILO ANGELO R
    Officer 92,000 Direct Automatic Sale at $28.74 per share. $2,644,080
    7-Aug-07 MOZILO ANGELO R
    Officer 110,000 Direct Option Exercise at $9.94 per share. $1,093,400
    7-Aug-07 MOZILO ANGELO R
    Officer 110,000 Direct Automatic Sale at $28.06 per share. $3,086,600
    1-Aug-07 MOZILO ANGELO R
    Officer 30,000 Direct Option Exercise at $9.94 per share. $298,200
    1-Aug-07 MOZILO ANGELO R
    Officer 30,000 Direct Automatic Sale at $28.16 per share. $844,800
    31-Jul-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $14.69 per share. $675,740
    31-Jul-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $29.89 per share. $1,374,940
    27-Jul-07 ROBERTSON OSCAR P
    Director 12,000 Direct Sale at $29.70 per share. $356,400
    27-Jul-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $14.69 per share. $675,740
    27-Jul-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $29.59 per share. $1,361,140
    25-Jul-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 – $14.69 per share. N/A
    25-Jul-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $30.52 per share. $1,403,920
    23-Jul-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.94 per share. $695,800
    23-Jul-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $34.22 per share. $2,395,400
    20-Jul-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.94 per share. $695,800
    20-Jul-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $34.12 per share. $2,388,400
    19-Jul-07 SAMBOL DAVID
    Officer 4,250 Direct Option Exercise at $13.24 per share. $56,270
    19-Jul-07 SAMBOL DAVID
    Officer 4,250 Direct Automatic Sale at $35.26 per share. $149,855
    18-Jul-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    18-Jul-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $34.32 per share. $1,578,720
    16-Jul-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.94 per share. $695,800
    16-Jul-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $35.83 per share. $2,508,100
    13-Jul-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.94 per share. $695,800
    13-Jul-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $36.64 per share. $2,564,800
    13-Jul-07 SAMBOL DAVID
    Officer 4,250 Direct Option Exercise at $13.24 per share. $56,270
    13-Jul-07 SAMBOL DAVID
    Officer 4,250 Direct Automatic Sale at $36.50 per share. $155,125
    12-Jul-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    12-Jul-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $36.45 per share. $1,676,700
    11-Jul-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.94 per share. $695,800
    11-Jul-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $35.68 per share. $2,497,600
    3-Jul-07 SAMBOL DAVID
    Officer 4,250 Direct Option Exercise at $13.24 per share. $56,270
    3-Jul-07 SAMBOL DAVID
    Officer 4,250 Direct Automatic Sale at $37.02 per share. $157,335
    27-Jun-07 SAMBOL DAVID
    Officer 4,250 Direct Option Exercise at $13.24 per share. $56,270
    27-Jun-07 SAMBOL DAVID
    Officer 4,250 Direct Automatic Sale at $35.96 per share. $152,830
    21-Jun-07 GARCIA CARLOS MANUEL
    Officer 2,500 Direct Automatic Sale at $37.50 per share. $93,750
    19-Jun-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    19-Jun-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $38.90 per share. $1,789,400
    19-Jun-07 SAMBOL DAVID
    Officer 6,375 Direct Option Exercise at $13.24 per share. $84,405
    19-Jun-07 SAMBOL DAVID
    Officer 6,375 Direct Automatic Sale at $38.45 per share. $245,118
    18-Jun-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    18-Jun-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $38.48 per share. $1,770,079
    15-Jun-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    15-Jun-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $37.99 per share. $1,747,540
    15-Jun-07 DOUGHERTY MICHAEL E
    Director 11,395 Direct Option Exercise at $12.15 – $13.29 per share. $145,0002
    15-Jun-07 DOUGHERTY MICHAEL E
    Director 11,395 Direct Automatic Sale at $38.15 per share. $434,719
    14-Jun-07 SAMBOL DAVID
    Officer 6,375 Direct Option Exercise at $13.24 per share. $84,405
    14-Jun-07 SAMBOL DAVID
    Officer 6,375 Direct Automatic Sale at $37.79 per share. $240,911
    14-Jun-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    14-Jun-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $37.83 per share. $1,740,180
    13-Jun-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.94 per share. $695,800
    13-Jun-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $37.81 per share. $2,646,700
    12-Jun-07 GARCIA CARLOS MANUEL
    Officer 2,500 Direct Automatic Sale at $37.71 per share. $94,275
    11-Jun-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.94 per share. $695,800
    11-Jun-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $37.67 per share. $2,636,900
    8-Jun-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.94 per share. $695,800
    8-Jun-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $37.95 per share. $2,656,500
    7-Jun-07 GARCIA CARLOS MANUEL
    Officer 2,500 Direct Automatic Sale at $38.25 per share. $95,625
    6-Jun-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    6-Jun-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $39.06 per share. $1,796,760
    6-Jun-07 SAMBOL DAVID
    Officer 6,375 Direct Option Exercise at $13.24 per share. $84,405
    6-Jun-07 SAMBOL DAVID
    Officer 6,375 Direct Automatic Sale at $38.99 per share. $248,561
    4-Jun-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 – $9.94 per share. $684,0002
    4-Jun-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $39.15 per share. $2,740,500
    1-Jun-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    1-Jun-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $39.01 per share. $2,730,700
    31-May-07 SIERACKI ERIC P
    Officer 16,708 Direct Option Exercise at $6.77 per share. $113,113
    31-May-07 SIERACKI ERIC P
    Officer 2,902 Direct Disposition (Non Open Market) at $38.94 per share. $113,003
    31-May-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    31-May-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $39.80 per share. $1,830,799
    30-May-07 CISNEROS HENRY G
    Director 5,075 Direct Sale at $39.50 per share. $200,462
    29-May-07 GARCIA CARLOS MANUEL
    Officer 2,500 Direct Automatic Sale at $39.44 per share. $98,600
    24-May-07 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $40.35 per share. $504,375
    21-May-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    21-May-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $40.64 per share. $1,869,440
    18-May-07 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $41.18 per share. $514,750
    18-May-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    18-May-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $41.14 per share. $2,879,800
    16-May-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    16-May-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $40.25 per share. $1,851,500
    15-May-07 DOUGHERTY MICHAEL E
    Director 22,790 Direct Option Exercise at $12.15 per share. $276,898
    15-May-07 DOUGHERTY MICHAEL E
    Director 22,790 Direct Automatic Sale at $39.87 per share. $908,637
    14-May-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    14-May-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $40.26 per share. $2,818,200
    10-May-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    10-May-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $40.68 per share. $2,847,600
    8-May-07 KRIPALANI RANJIT M
    Officer 14,002 Direct Option Exercise at $14.69 per share. $205,689
    8-May-07 KRIPALANI RANJIT M
    Officer 14,002 Direct Sale at $40.75 – $40.8 per share. $571,0002
    8-May-07 DOUGHERTY MICHAEL E
    Director 11,396 Direct Option Exercise at $12.15 per share. $138,461
    8-May-07 DOUGHERTY MICHAEL E
    Director 11,396 Direct Automatic Sale at $42 per share. $478,632
    8-May-07 GISSINGER ANDREW III
    Officer 4,042 Direct Sale at $40.74 – $41.71 per share. $167,0002
    8-May-07 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $40.06 per share. $500,750
    8-May-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    8-May-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $38.78 per share. $2,714,600
    8-May-07 SAMUELS SANDOR E
    Officer 24,936 Direct Option Exercise at $11.68 per share. $291,252
    8-May-07 SAMUELS SANDOR E
    Officer 24,936 Direct Automatic Sale at $40 per share. $997,440
    7-May-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    7-May-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $38.48 per share. $1,770,079
    4-May-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    4-May-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $38.03 per share. $1,749,380
    3-May-07 GARCIA CARLOS MANUEL
    Officer 2,500 Direct Automatic Sale at $37.85 per share. $94,625
    2-May-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    2-May-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $37.54 per share. $2,627,800
    2-May-07 GATES MARSHALL M
    Officer 6,805 Direct Option Exercise at $14.69 per share. $99,965
    30-Apr-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    30-Apr-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $38.45 per share. $1,768,700
    27-Apr-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    27-Apr-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $38.35 per share. $2,684,500
    26-Apr-07 DOUGHERTY MICHAEL E
    Director 22,790 Direct Option Exercise at $12.15 per share. $276,898
    26-Apr-07 DOUGHERTY MICHAEL E
    Director 22,790 Direct Automatic Sale at $39 per share. $888,810
    26-Apr-07 GARCIA CARLOS MANUEL
    Officer 2,500 Direct Automatic Sale at $37.50 per share. $93,750
    23-Apr-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    23-Apr-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $37.33 per share. $2,613,100
    20-Apr-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    20-Apr-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $37.84 per share. $1,740,640
    18-Apr-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    18-Apr-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $37.25 per share. $2,607,500
    17-Apr-07 DOUGHERTY MICHAEL E
    Director 11,395 Direct Option Exercise at $10.25 – $12.15 per share. $128,0002
    17-Apr-07 DOUGHERTY MICHAEL E
    Director 11,395 Direct Automatic Sale at $36.50 per share. $415,917
    16-Apr-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $10.89 per share. $500,940
    16-Apr-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $34.93 per share. $1,606,780
    13-Apr-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $9.60 – $10.89 per share. $471,0002
    13-Apr-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $33.60 per share. $1,545,600
    11-Apr-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    11-Apr-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $33.46 per share. $2,342,200
    4-Apr-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    4-Apr-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $33.33 per share. $2,333,100
    2-Apr-07 BARTLETT KEVIN
    Officer 33,190 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 SCHAKETT JAMES W
    Officer 15,278 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 KRIPALANI RANJIT M
    Officer 22,918 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 GATES MARSHALL M
    Officer 12,222 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 PARRY ROBERT T
    Director 8,431 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 CUNNINGHAM JEFFREY M
    Director 6,721 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 MILLEMAN LAURA K
    Officer 7,058 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 ROBERTSON OSCAR P
    Director 6,721 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 DOUGHERTY MICHAEL E
    Director 6,721 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 CISNEROS HENRY G
    Director 6,721 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 SIERACKI ERIC P
    Officer 53,470 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 SPEAKES JEFFREY K
    Officer 10,694 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 GISSINGER ANDREW III
    Officer 30,555 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 GARCIA CARLOS MANUEL
    Officer 30,555 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 MOZILO ANGELO R
    Officer 152,766 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 MCCALLION ANNE
    Officer 18,346 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 SAMUELS SANDOR E
    Officer 12,222 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 MELONE MARTIN R
    Director 8,431 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 SAMBOL DAVID
    Officer 137,489 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 SNYDER HARLEY W
    Director 8,431 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 RUSSELL KEITH P
    Director 8,431 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 DONATO ROBERT J
    Director 6,721 Direct Acquisition (Non Open Market) at $0 per share. N/A
    2-Apr-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $9.60 per share. $441,600
    2-Apr-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $32.69 per share. $1,503,740
    30-Mar-07 BROWN KATHLEEN
    Director 720 Direct Acquisition (Non Open Market) at $33.64 per share. $24,220
    30-Mar-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $9.60 per share. $441,600
    30-Mar-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $33.83 per share. $1,556,180
    30-Mar-07 CUNNINGHAM JEFFREY M
    Director 676 Direct Acquisition (Non Open Market) at $33.64 per share. $22,740
    30-Mar-07 DOUGHERTY MICHAEL E
    Director 940 Direct Acquisition (Non Open Market) at $33.64 per share. $31,621
    23-Mar-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $9.60 per share. $441,600
    23-Mar-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $36.40 per share. $1,674,400
    21-Mar-07 DOUGHERTY MICHAEL E
    Director 8,000 Direct Option Exercise at $10.25 per share. $82,000
    21-Mar-07 DOUGHERTY MICHAEL E
    Director 8,000 Direct Automatic Sale at $36.50 per share. $292,000
    21-Mar-07 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $18.98 per share. $265,720
    21-Mar-07 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $35.93 per share. $503,020
    20-Mar-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    20-Mar-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $35.34 per share. $2,473,800
    16-Mar-07 DOUGHERTY MICHAEL E
    Director 3,395 Direct Option Exercise at $10.25 per share. $34,798
    16-Mar-07 DOUGHERTY MICHAEL E
    Director 3,395 Direct Automatic Sale at $36.50 per share. $123,917
    15-Mar-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $9.60 per share. $441,600
    15-Mar-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $35.63 per share. $1,638,980
    15-Mar-07 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $18.98 per share. $265,720
    15-Mar-07 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $35.51 per share. $497,140
    15-Mar-07 BARTLETT KEVIN
    Officer 9,676 Direct Acquisition (Non Open Market) at $0 per share. N/A
    12-Mar-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    12-Mar-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $35 per share. $2,450,000
    8-Mar-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    8-Mar-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $37.47 per share. $2,622,900
    7-Mar-07 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $18.98 per share. $265,720
    7-Mar-07 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $37.08 per share. $519,120
    6-Mar-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $9.60 per share. $441,600
    6-Mar-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $36.32 per share. $1,670,720
    5-Mar-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    5-Mar-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $35.19 per share. $2,463,300
    2-Mar-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $9.60 per share. $441,600
    2-Mar-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $37.18 per share. $1,710,280
    1-Mar-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    1-Mar-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $37.10 per share. $2,597,000
    28-Feb-07 GARCIA CARLOS MANUEL
    Officer 2,500 Direct Automatic Sale at $38.08 per share. $95,200
    28-Feb-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $9.60 per share. $441,600
    28-Feb-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $37.91 per share. $1,743,859
    27-Feb-07 SAMBOL DAVID
    Officer 13,500 Direct Option Exercise at $18.98 per share. $256,230
    27-Feb-07 SAMBOL DAVID
    Officer 13,500 Direct Automatic Sale at $37.86 per share. $511,110
    22-Feb-07 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $40.33 per share. $504,125
    22-Feb-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $40.45 per share. $2,831,500
    22-Feb-07 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $18.98 per share. $265,720
    22-Feb-07 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $40.33 per share. $564,620
    21-Feb-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $9.60 per share. $441,600
    21-Feb-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $40.77 per share. $1,875,420
    21-Feb-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    15-Feb-07 DOUGHERTY MICHAEL E
    Director 34,186 Direct Option Exercise at $9.94 – $10.25 per share. $345,0002
    15-Feb-07 DOUGHERTY MICHAEL E
    Director 34,186 Direct Automatic Sale at $41.83 per share. $1,430,000
    15-Feb-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    15-Feb-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $41.88 per share. $2,931,600
    15-Feb-07 SAMUELS SANDOR E
    Officer 1,369 Direct Disposition (Non Open Market) at $0 per share. N/A
    13-Feb-07 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $41.47 per share. $518,375
    13-Feb-07 GISSINGER ANDREW III
    Officer 7,050 Direct Sale at $41.50 per share. $292,575
    13-Feb-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $9.60 per share. $441,600
    13-Feb-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $41.26 per share. $1,897,960
    13-Feb-07 MOZILO ANGELO R
    Officer 241,081 Direct Acquisition (Non Open Market) at $0 per share. N/A
    13-Feb-07 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 – $18.98 per share. N/A
    13-Feb-07 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $41.34 per share. $578,760
    13-Feb-07 SAMUELS SANDOR E
    Officer 365 Direct Disposition (Non Open Market) at $0 per share. N/A
    12-Feb-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    12-Feb-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $41.19 per share. $2,883,300
    9-Feb-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $9.60 per share. $441,600
    9-Feb-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $43.69 per share. $2,009,740
    8-Feb-07 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $43.62 per share. $545,250
    8-Feb-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    8-Feb-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $43.47 per share. $3,042,900
    8-Feb-07 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    8-Feb-07 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $43.62 per share. $610,680
    6-Feb-07 FURASH JAMES S
    Officer 101,309 Direct Option Exercise at $9.60 – $32.6 per share. N/A
    6-Feb-07 FURASH JAMES S
    Officer 101,309 Direct Sale at $44.75 – $44.83 per share. $4,538,0002
    5-Feb-07 MILLEMAN LAURA K
    Officer 24,000 Direct Option Exercise at $6.77 per share. $162,480
    5-Feb-07 MILLEMAN LAURA K
    Officer 24,000 Direct Sale at $44.45 – $44.53 per share. $1,068,0002
    5-Feb-07 MOZILO ANGELO R
    Officer 46,000 Direct Option Exercise at $9.60 per share. $441,600
    5-Feb-07 MOZILO ANGELO R
    Officer 46,000 Direct Automatic Sale at $44.61 per share. $2,052,060
    5-Feb-07 MCCALLION ANNE
    Officer 8,314 Direct Option Exercise at $11.68 per share. $97,107
    5-Feb-07 MCCALLION ANNE
    Officer 20,000 Direct Sale at $44.45 per share. $889,000
    2-Feb-07 GARCIA CARLOS MANUEL
    Officer 154,576 Direct Option Exercise at $6.77 – $11.68 per share. N/A
    2-Feb-07 GARCIA CARLOS MANUEL
    Officer 3,476 Direct Disposition (Non Open Market) at $45.03 per share. $156,524
    2-Feb-07 GARCIA CARLOS MANUEL
    Officer 189,757 Direct Sale at $44.89 per share. $8,518,191
    2-Feb-07 MCCALLION ANNE
    Officer 30,000 Direct Option Exercise at $6.77 per share. $203,100
    2-Feb-07 MCCALLION ANNE
    Officer 4,265 Direct Disposition (Non Open Market) at $45.03 per share. $192,052
    2-Feb-07 MCCALLION ANNE
    Officer 1,608 Direct Sale at $44.52 per share. $71,588
    2-Feb-07 SAMUELS SANDOR E
    Officer 23,094 Direct Option Exercise at $6.77 – $11.68 per share. N/A
    2-Feb-07 SAMUELS SANDOR E
    Officer 2,220 Direct Disposition (Non Open Market) at $45.03 per share. $99,966
    2-Feb-07 SAMUELS SANDOR E
    Officer 8,312 Direct Automatic Sale at $44.97 – $45.04 per share. $374,0002
    2-Feb-07 CUNNINGHAM JEFFREY M
    Director 20,000 Direct Sale at $44.80 – $45.03 per share. $898,0002
    2-Feb-07 SPEAKES JEFFREY K
    Officer 52,500 Direct Option Exercise at $14.69 per share. $771,225
    2-Feb-07 SPEAKES JEFFREY K
    Officer 52,500 Direct Sale at $44.52 – $44.68 per share. $2,342,0002
    2-Feb-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    2-Feb-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $44.52 per share. $3,116,400
    1-Feb-07 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Option Exercise at $14.69 per share. $73,450
    1-Feb-07 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Automatic Sale at $43.88 per share. $219,400
    31-Jan-07 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $43.19 per share. $539,875
    31-Jan-07 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    31-Jan-07 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $43.20 per share. $604,800
    26-Jan-07 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $40.19 per share. $502,375
    26-Jan-07 MOZILO ANGELO R
    Officer 23,000 Direct Option Exercise at $9.60 per share. $220,800
    26-Jan-07 MOZILO ANGELO R
    Officer 23,000 Direct Automatic Sale at $40.40 per share. $929,200
    25-Jan-07 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    25-Jan-07 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $40.70 per share. $569,800
    24-Jan-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    24-Jan-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $41.65 per share. $2,915,500
    22-Jan-07 MOZILO ANGELO R
    Officer 23,000 Direct Option Exercise at $9.60 per share. $220,800
    22-Jan-07 MOZILO ANGELO R
    Officer 23,000 Direct Automatic Sale at $41.27 per share. $949,210
    19-Jan-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    19-Jan-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $41.24 per share. $2,886,800
    18-Jan-07 MOZILO ANGELO R
    Officer 23,000 Direct Option Exercise at $9.60 per share. $220,800
    18-Jan-07 MOZILO ANGELO R
    Officer 23,000 Direct Automatic Sale at $40.35 per share. $928,050
    16-Jan-07 DOUGHERTY MICHAEL E
    Director 34,186 Direct Option Exercise at $9.94 per share. $339,808
    16-Jan-07 DOUGHERTY MICHAEL E
    Director 34,186 Direct Automatic Sale at $41.77 per share. $1,427,949
    16-Jan-07 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $41.47 per share. $518,375
    16-Jan-07 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    16-Jan-07 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $41.47 per share. $580,580
    11-Jan-07 MOZILO ANGELO R
    Officer 23,000 Direct Option Exercise at $9.60 per share. $220,800
    11-Jan-07 MOZILO ANGELO R
    Officer 23,000 Direct Automatic Sale at $42.18 per share. $970,140
    10-Jan-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    10-Jan-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $42.12 per share. $2,948,400
    10-Jan-07 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $42.10 per share. $526,250
    10-Jan-07 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    10-Jan-07 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $42.10 per share. $589,400
    8-Jan-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    8-Jan-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $42.05 per share. $2,943,500
    5-Jan-07 MOZILO ANGELO R
    Officer 23,000 Direct Option Exercise at $9.60 per share. $220,800
    5-Jan-07 MOZILO ANGELO R
    Officer 23,000 Direct Automatic Sale at $42.37 per share. $974,509
    5-Jan-07 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    5-Jan-07 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $42.42 per share. $593,880
    4-Jan-07 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $42.38 per share. $529,750
    4-Jan-07 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    4-Jan-07 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $42.22 per share. $2,955,400
    3-Jan-07 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Option Exercise at $14.69 per share. $73,450
    3-Jan-07 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Sale at $42.17 per share. $210,850
    29-Dec-06 SCHAKETT JAMES W
    Officer 32,565 Direct Option Exercise at $31.86 per share. $1,037,520
    29-Dec-06 SCHAKETT JAMES W
    Officer 32,565 Direct Sale at $42.66 – $42.86 per share. $1,392,0002
    29-Dec-06 GATES MARSHALL M
    Officer 25,000 Direct Sale at $42.91 per share. $1,072,750
    29-Dec-06 BROWN KATHLEEN
    Director 462 Direct Acquisition (Non Open Market) at $42.67 per share. $19,713
    29-Dec-06 CUNNINGHAM JEFFREY M
    Director 515 Direct Acquisition (Non Open Market) at $42.67 per share. $21,975
    28-Dec-06 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $42.85 per share. $535,625
    28-Dec-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    28-Dec-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $42.85 per share. $599,900
    20-Dec-06 DOUGHERTY MICHAEL E
    Director 15,000 Direct Disposition (Non Open Market) at $0 per share. N/A
    20-Dec-06 SNYDER HARLEY W
    Director 1,466 Direct Disposition (Non Open Market) at $0 per share. N/A
    19-Dec-06 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $40.91 per share. $511,374
    19-Dec-06 SNYDER HARLEY W
    Director 20,000 Direct Sale at $40.90 per share. $818,000
    18-Dec-06 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    18-Dec-06 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $41.66 per share. $2,916,199
    18-Dec-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    18-Dec-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $41.51 per share. $581,140
    15-Dec-06 DOUGHERTY MICHAEL E
    Director 34,186 Direct Option Exercise at $6.98 – $9.94 per share. N/A
    15-Dec-06 DOUGHERTY MICHAEL E
    Director 34,186 Direct Automatic Sale at $41.25 – $41.64 per share. $1,417,0002
    15-Dec-06 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    15-Dec-06 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $41.46 per share. $2,902,200
    15-Dec-06 DONATO ROBERT J
    Director 20,000 Direct Option Exercise at $11.68 per share. $233,600
    15-Dec-06 DONATO ROBERT J
    Director 20,000 Direct Sale at $41.78 per share. $835,600
    14-Dec-06 MCCALLION ANNE
    Officer 1,250 Direct Disposition (Non Open Market) at $0 per share. N/A
    13-Dec-06 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $40.43 per share. $505,375
    13-Dec-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    13-Dec-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $40.43 per share. $566,020
    11-Dec-06 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    11-Dec-06 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $40.06 per share. $2,804,200
    8-Dec-06 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    8-Dec-06 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $39.93 per share. $2,795,100
    8-Dec-06 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $40 per share. $500,000
    7-Dec-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    7-Dec-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $41.54 per share. $581,560
    5-Dec-06 DOUGHERTY MICHAEL E
    Director 11,396 Direct Option Exercise at $6.98 per share. $79,544
    5-Dec-06 DOUGHERTY MICHAEL E
    Director 11,396 Direct Automatic Sale at $41 per share. $467,236
    4-Dec-06 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    4-Dec-06 MOZILO ANGELO R
    Officer 25,000 Indirect Automatic Sale at $39.99 per share. $999,750
    4-Dec-06 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $39.98 per share. $2,798,600
    1-Dec-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Option Exercise at $14.69 per share. $73,450
    1-Dec-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Automatic Sale at $39.68 per share. $198,400
    30-Nov-06 GARCIA CARLOS MANUEL
    Officer 2,500 Direct Automatic Sale at $39.70 per share. $99,250
    29-Nov-06 KRIPALANI RANJIT M
    Officer 32,000 Direct Option Exercise at $14.69 – $18.98 per share. N/A
    29-Nov-06 KRIPALANI RANJIT M
    Officer 34,866 Direct Sale at $40.02 – $40.25 per share. $1,399,0002
    29-Nov-06 DOUGHERTY MICHAEL E
    Director 22,790 Direct Option Exercise at $6.98 per share. $159,074
    29-Nov-06 DOUGHERTY MICHAEL E
    Director 22,790 Direct Automatic Sale at $39.70 per share. $904,763
    29-Nov-06 MOZILO ANGELO R
    Officer 25,000 Indirect Automatic Sale at $39.88 per share. $997,000
    29-Nov-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    29-Nov-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $39.89 per share. $558,460
    22-Nov-06 GARCIA CARLOS MANUEL
    Officer 2,500 Direct Automatic Sale at $40.26 per share. $100,650
    21-Nov-06 MOZILO ANGELO R
    Officer 47,999 Direct Automatic Sale at $39.79 per share. $1,909,880
    21-Nov-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    21-Nov-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $39.81 per share. $557,340
    20-Nov-06 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    20-Nov-06 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $40.20 per share. $2,814,000
    20-Nov-06 ROBERTSON OSCAR P
    Director 60,000 Direct Sale at $39.80 per share. $2,388,000
    16-Nov-06 SPEAKES JEFFREY K
    Officer 79,646 Direct Option Exercise at $9.60 – $10.89 per share. $816,0002
    16-Nov-06 SPEAKES JEFFREY K
    Officer 79,646 Direct Disposition (Non Open Market) at $40.45 per share. $3,221,680
    16-Nov-06 MOZILO ANGELO R
    Officer 48,000 Direct Automatic Sale at $40.65 per share. $1,951,200
    16-Nov-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    16-Nov-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $40.62 per share. $568,680
    15-Nov-06 SAMUELS SANDOR E
    Officer 750 Direct Disposition (Non Open Market) at $0 per share. N/A
    14-Nov-06 GARCIA CARLOS MANUEL
    Officer 12,500 Direct Automatic Sale at $40.17 per share. $502,125
    14-Nov-06 SAMUELS SANDOR E
    Officer 250 Direct Disposition (Non Open Market) at $0 per share. N/A
    13-Nov-06 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    13-Nov-06 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $40.13 per share. $2,809,100
    10-Nov-06 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    10-Nov-06 MOZILO ANGELO R
    Officer 70,000 Direct Automatic Sale at $38.93 per share. $2,725,100
    9-Nov-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    9-Nov-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $38.80 per share. $543,200
    8-Nov-06 GARCIA CARLOS MANUEL
    Officer 2,500 Direct Automatic Sale at $38.49 per share. $96,225
    6-Nov-06 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    6-Nov-06 MOZILO ANGELO R
    Officer 93,000 Direct Automatic Sale at $38.46 – $38.84 per share. $3,594,0002
    3-Nov-06 DOUGHERTY MICHAEL E
    Director 5,330 Direct Disposition (Non Open Market) at $0 per share. N/A
    3-Nov-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    3-Nov-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $38.05 per share. $532,700
    2-Nov-06 GATES MARSHALL M
    Officer 20,000 Direct Sale at $38.50 per share. $770,000
    1-Nov-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Option Exercise at $14.69 per share. $73,450
    1-Nov-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Automatic Sale at $38.28 per share. $191,400
    1-Nov-06 MOZILO ANGELO R
    Officer 70,000 Direct Option Exercise at $9.60 per share. $672,000
    1-Nov-06 MOZILO ANGELO R
    Officer 93,000 Direct Automatic Sale at $38.31 – $38.34 per share. $3,564,0002
    31-Oct-06 GARCIA CARLOS MANUEL
    Officer 2,500 Direct Automatic Sale at $38.16 per share. $95,399
    30-Oct-06 KRIPALANI RANJIT M
    Officer 15,008 Direct Option Exercise at $9.60 – $10.89 per share. $154,0002
    30-Oct-06 KRIPALANI RANJIT M
    Officer 15,008 Direct Sale at $38.10 – $38.11 per share. $572,0002
    27-Oct-06 MCCALLION ANNE
    Officer 40,000 Direct Sale at $38.21 per share. $1,528,400
    27-Oct-06 SAMUELS SANDOR E
    Officer 39,500 Direct Sale at $38.20 per share. $1,508,900
    27-Oct-06 DONATO ROBERT J
    Director 17,810 Direct Option Exercise at $11.68 per share. $208,020
    27-Oct-06 DONATO ROBERT J
    Director 34,142 Direct Sale at $38.27 per share. $1,306,614
    26-Oct-06 GARCIA CARLOS MANUEL
    Officer 2,500 Direct Automatic Sale at $38.45 per share. $96,125
    25-Oct-06 SAMUELS SANDOR E
    Officer 25,044 Direct Option Exercise at $6.77 per share. $169,547
    25-Oct-06 SAMUELS SANDOR E
    Officer 25,044 Direct Automatic Sale at $38 per share. $951,672
    25-Oct-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    25-Oct-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $38.40 per share. $537,600
    20-Oct-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    20-Oct-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $35.09 per share. $491,260
    12-Oct-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    12-Oct-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $36.30 per share. $508,199
    9-Oct-06 KURLAND STANFORD L
    Officer 100,000 Direct Sale at $36.49 per share. $3,649,000
    9-Oct-06 KURLAND STANFORD L
    Officer 100,000 Direct Option Exercise at $13.40 per share. $1,340,000
    4-Oct-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    4-Oct-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $35.55 per share. $497,699
    2-Oct-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Option Exercise at $14.69 per share. $73,450
    2-Oct-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Automatic Sale at $35.14 per share. $175,700
    29-Sep-06 BROWN KATHLEEN
    Director 608 Direct Acquisition (Non Open Market) at $34.93 per share. $21,237
    29-Sep-06 CUNNINGHAM JEFFREY M
    Director 629 Direct Acquisition (Non Open Market) at $34.93 per share. $21,970
    28-Sep-06 SAMBOL DAVID
    Officer 10,000 Direct Automatic Sale at $34.86 per share. $348,600
    28-Sep-06 SAMBOL DAVID
    Officer 10,000 Direct Option Exercise at $14.69 per share. $146,900
    27-Sep-06 KURLAND STANFORD L
    Officer 26,975 Direct Option Exercise at $11.68 per share. $315,068
    27-Sep-06 KURLAND STANFORD L
    Officer 26,975 Direct Sale at $35.19 per share. $949,250
    26-Sep-06 KURLAND STANFORD L
    Officer 12,800 Direct Automatic Sale at $35.64 per share. $456,192
    26-Sep-06 KURLAND STANFORD L
    Officer 20,261 Direct Option Exercise at $11.68 per share. $236,648
    26-Sep-06 KURLAND STANFORD L
    Officer 7,461 Direct Sale at $35.61 per share. $265,686
    25-Sep-06 GARCIA CARLOS MANUEL
    Officer 296,868 Direct Sale at $35.24 – $35.38 per share. $10,482,0002
    25-Sep-06 GARCIA CARLOS MANUEL
    Officer 136,864 Direct Option Exercise at $6.77 per share. $926,569
    22-Sep-06 KURLAND STANFORD L
    Officer 12,800 Direct Automatic Sale at $35.02 per share. $448,256
    22-Sep-06 KURLAND STANFORD L
    Officer 12,800 Direct Option Exercise at $11.68 per share. $149,504
    22-Sep-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $14.69 per share. $205,660
    22-Sep-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $35.02 per share. $490,280
    21-Sep-06 KURLAND STANFORD L
    Officer 15,928 Direct Sale at $35.03 per share. $557,957
    19-Sep-06 KURLAND STANFORD L
    Officer 5,859 Direct Sale at $34.68 per share. $203,190
    15-Sep-06 KURLAND STANFORD L
    Officer 93,750 Indirect Sale at $34.98 per share. $3,279,374
    15-Sep-06 KURLAND STANFORD L
    Officer 220,601 Direct Sale at $34.87 per share. $7,692,356
    14-Sep-06 KURLAND STANFORD L
    Officer 11,998 Indirect Sale at $34.71 per share. $416,450
    14-Sep-06 KURLAND STANFORD L
    Officer 250,000 Direct Sale at $34.72 per share. $8,680,000
    14-Sep-06 KURLAND STANFORD L
    Officer 147,068 Direct Option Exercise at $18.98 per share. $2,791,350
    14-Sep-06 MCCALLION ANNE
    Officer 10,000 Direct Sale at $34.71 per share. $347,100
    13-Sep-06 KURLAND STANFORD L
    Officer 1,700,000 Direct Sale at $34.77 per share. $59,109,000
    13-Sep-06 KURLAND STANFORD L
    Officer 1,700,000 Direct Option Exercise at $10.89 – $18.98 per share. N/A
    12-Sep-06 KURLAND STANFORD L
    Officer 10,000 Direct Automatic Sale at $34.47 per share. $344,700
    12-Sep-06 KURLAND STANFORD L
    Officer 1,500,000 Direct Sale at $34.35 per share. $51,525,000
    12-Sep-06 KURLAND STANFORD L
    Officer 1,510,000 Direct Option Exercise at $9.60 – $11.68 per share. $16,066,0002
    12-Sep-06 SAMBOL DAVID
    Officer 10,000 Direct Automatic Sale at $34.48 per share. $344,799
    12-Sep-06 SAMBOL DAVID
    Officer 10,000 Direct Option Exercise at $14.69 per share. $146,900
    7-Sep-06 KURLAND STANFORD L
    Officer 10,000 Direct Automatic Sale at $33.73 per share. $337,299
    7-Sep-06 KURLAND STANFORD L
    Officer 10,000 Direct Option Exercise at $11.68 per share. $116,800
    6-Sep-06 SAMBOL DAVID
    Officer 10,000 Direct Automatic Sale at $34.43 per share. $344,300
    6-Sep-06 SAMBOL DAVID
    Officer 10,000 Direct Option Exercise at $13.24 per share. $132,400
    1-Sep-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Automatic Sale at $33.80 per share. $169,000
    1-Sep-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Option Exercise at $14.69 per share. $73,450
    31-Aug-06 SAMBOL DAVID
    Officer 10,000 Direct Automatic Sale at $33.70 per share. $337,000
    31-Aug-06 SAMBOL DAVID
    Officer 10,000 Direct Option Exercise at $13.24 per share. $132,400
    28-Aug-06 KURLAND STANFORD L
    Officer 10,000 Direct Automatic Sale at $33.57 per share. $335,700
    28-Aug-06 KURLAND STANFORD L
    Officer 10,000 Direct Option Exercise at $11.68 per share. $116,800
    24-Aug-06 KURLAND STANFORD L
    Officer 10,000 Direct Automatic Sale at $33.15 per share. $331,500
    24-Aug-06 KURLAND STANFORD L
    Officer 10,000 Direct Option Exercise at $11.68 per share. $116,800
    22-Aug-06 SAMBOL DAVID
    Officer 10,000 Direct Automatic Sale at $33.51 per share. $335,100
    22-Aug-06 SAMBOL DAVID
    Officer 10,000 Direct Option Exercise at $13.24 per share. $132,400
    17-Aug-06 SAMBOL DAVID
    Officer 10,000 Direct Automatic Sale at $34.46 per share. $344,600
    17-Aug-06 SAMBOL DAVID
    Officer 10,000 Direct Option Exercise at $13.24 per share. $132,400
    16-Aug-06 KURLAND STANFORD L
    Officer 10,000 Direct Automatic Sale at $34.30 per share. $343,000
    16-Aug-06 KURLAND STANFORD L
    Officer 10,000 Direct Option Exercise at $11.68 per share. $116,800
    11-Aug-06 SAMBOL DAVID
    Officer 10,000 Direct Automatic Sale at $33.19 per share. $331,900
    11-Aug-06 SAMBOL DAVID
    Officer 10,000 Direct Option Exercise at $13.24 per share. $132,400
    10-Aug-06 KURLAND STANFORD L
    Officer 10,000 Direct Automatic Sale at $33.88 per share. $338,800
    10-Aug-06 KURLAND STANFORD L
    Officer 10,000 Direct Option Exercise at $11.68 per share. $116,800
    4-Aug-06 KURLAND STANFORD L
    Officer 12,800 Direct Automatic Sale at $37.69 per share. $482,432
    4-Aug-06 KURLAND STANFORD L
    Officer 12,800 Direct Option Exercise at $11.68 per share. $149,504
    4-Aug-06 SAMUELS SANDOR E
    Officer 12,522 Direct Automatic Sale at $38 per share. $475,836
    4-Aug-06 SAMUELS SANDOR E
    Officer 12,522 Direct Option Exercise at $6.77 per share. $84,773
    3-Aug-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $36.52 per share. $511,280
    3-Aug-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $13.24 per share. $185,360
    1-Aug-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Automatic Sale at $35.83 per share. $179,150
    1-Aug-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Option Exercise at $14.69 per share. $73,450
    31-Jul-06 GATES MARSHALL M
    Officer 20,478 Direct Option Exercise at $9.60 – $9.94 per share. $200,0002
    25-Jul-06 KURLAND STANFORD L
    Officer 12,800 Direct Automatic Sale at $38.72 per share. $495,616
    25-Jul-06 KURLAND STANFORD L
    Officer 12,800 Direct Option Exercise at $11.68 per share. $149,504
    25-Jul-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $38.72 per share. $542,080
    25-Jul-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $13.24 per share. $185,360
    19-Jul-06 KURLAND STANFORD L
    Officer 12,800 Direct Automatic Sale at $38.27 per share. $489,856
    19-Jul-06 KURLAND STANFORD L
    Officer 12,800 Direct Option Exercise at $11.68 per share. $149,504
    19-Jul-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $38.28 per share. $535,920
    19-Jul-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $13.24 per share. $185,360
    12-Jul-06 KURLAND STANFORD L
    Officer 12,800 Direct Automatic Sale at $38.03 per share. $486,784
    12-Jul-06 KURLAND STANFORD L
    Officer 12,800 Direct Option Exercise at $11.68 per share. $149,504
    11-Jul-06 SIERACKI ERIC P
    Officer 60,000 Direct Option Exercise at $5.80 per share. $348,000
    7-Jul-06 KURLAND STANFORD L
    Officer 12,800 Direct Automatic Sale at $38.26 per share. $489,728
    7-Jul-06 KURLAND STANFORD L
    Officer 12,800 Direct Option Exercise at $11.68 per share. $149,504
    7-Jul-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $38.26 per share. $535,640
    7-Jul-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $13.24 per share. $185,360
    7-Jul-06 GARCIA CARLOS MANUEL
    Officer 160,004 Direct Option Exercise at $5.80 per share. $928,023
    3-Jul-06 SAMUELS SANDOR E
    Officer 12,522 Direct Automatic Sale at $38 per share. $475,836
    3-Jul-06 SAMUELS SANDOR E
    Officer 12,522 Direct Option Exercise at $6.77 per share. $84,773
    3-Jul-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Automatic Sale at $38 per share. $190,000
    3-Jul-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Option Exercise at $14.69 per share. $73,450
    30-Jun-06 CUNNINGHAM JEFFREY M
    Director 534 Direct Acquisition (Non Open Market) at $38.37 per share. $20,489
    30-Jun-06 BROWN KATHLEEN
    Director 553 Direct Acquisition (Non Open Market) at $38.37 per share. $21,218
    29-Jun-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $37.73 per share. $528,220
    29-Jun-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $13.24 per share. $185,360
    27-Jun-06 KURLAND STANFORD L
    Officer 12,800 Direct Automatic Sale at $37.22 per share. $476,416
    27-Jun-06 KURLAND STANFORD L
    Officer 12,800 Direct Option Exercise at $11.68 per share. $149,504
    23-Jun-06 KURLAND STANFORD L
    Officer 12,800 Direct Automatic Sale at $37.03 per share. $473,984
    23-Jun-06 KURLAND STANFORD L
    Officer 12,800 Direct Option Exercise at $11.68 per share. $149,504
    23-Jun-06 SAMUELS SANDOR E
    Officer 48,990 Direct Option Exercise at $5.80 per share. $284,142
    21-Jun-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $37.07 per share. $518,980
    21-Jun-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $13.24 per share. $185,360
    16-Jun-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $36.78 per share. $514,920
    16-Jun-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $13.24 per share. $185,360
    14-Jun-06 KURLAND STANFORD L
    Officer 12,800 Direct Automatic Sale at $36.65 per share. $469,120
    14-Jun-06 KURLAND STANFORD L
    Officer 12,800 Direct Option Exercise at $11.68 per share. $149,504
    12-Jun-06 MCCALLION ANNE
    Officer 24,000 Direct Option Exercise at $5.80 per share. $139,200
    9-Jun-06 KURLAND STANFORD L
    Officer 7,461 Direct Option Exercise at $13.40 per share. $99,977
    8-Jun-06 KURLAND STANFORD L
    Officer 12,800 Direct Automatic Sale at $36.89 per share. $472,192
    8-Jun-06 KURLAND STANFORD L
    Officer 12,800 Direct Option Exercise at $11.68 per share. $149,504
    8-Jun-06 MOZILO ANGELO R
    Officer 6,805 Direct Option Exercise at $14.69 per share. $99,965
    7-Jun-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $37.41 per share. $523,739
    7-Jun-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $13.24 per share. $185,360
    2-Jun-06 SAMBOL DAVID
    Officer 7,548 Direct Option Exercise at $13.24 per share. $99,935
    1-Jun-06 SAMBOL DAVID
    Officer 14,000 Direct Automatic Sale at $38.70 per share. $541,800
    1-Jun-06 SAMBOL DAVID
    Officer 14,000 Direct Option Exercise at $13.24 per share. $185,360
    1-Jun-06 SAMUELS SANDOR E
    Officer 12,522 Direct Automatic Sale at $38 per share. $475,836
    1-Jun-06 SAMUELS SANDOR E
    Officer 12,522 Direct Option Exercise at $6.77 per share. $84,773
    1-Jun-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Automatic Sale at $37.95 per share. $189,750
    1-Jun-06 CUNNINGHAM JEFFREY M
    Director 5,000 Direct Option Exercise at $14.69 per share. $73,450
    30-May-06 KURLAND STANFORD L
    Officer 12,800 Direct Automatic Sale at $38.60 per share. $494,080
    30-May-06 KURLAND STANFORD L
    Officer 12,800 Direct Option Exercise at $11.68 per share. $149,504
    25-May-06 KURLAND STANFORD L
    Officer 12,800 Direct Automatic Sale at $37.67 per share. $482,176
    25-May-06 KURLAND STANFORD L
    Officer 12,800 Direct Option Exercise at $11.68 per share. $149,504

    All Major Holders – Insider Roster

    Reply
  • GaudiaRay
    August 19, 2007 at 8:07 am

    IMO,

    a. the discount window’s first drop and the ones that will follow,

    b. the extension of repayment time to 30 days, and

    c. the acceptance by the feds of CDO’s including MBS’s as collateral

    all spell…

    WELLS FARGO BANKRUPTCY.

    WF has access to this discount window, was among the largest peddlers/processors of sub-primes, is a major commercial paper pusher, and is now STUCK.

    That CP going unsold? That’s WF and the rest of the rats needing to keep their now unwillingly-warehoused, unwillingly-repurchased MBS porfolios from pulling WF into BK just like those albatrosses should already have done.

    We, the people, are getting Buffetted into handing out cash in exchange for paper that should be severely discounted.

    The losses listed above, now in the 15% category across the board, and probably descending far below the inflation-adjusted balance point of 50% down, are blindly, and imo, criminally negligently being ignored by the feds because their banker constituency, in SF and NY are in fact BK without this rescue.

    The “injection” of funds last week and the week before FAILED. The even spread of those funds did a quick 360 by the banks back into TNotes, leaving the CP market suffocating for liquidity.

    The solution on Friday is a cheat by the feds to help out the sub-prime-heavy-laden member banks.

    This scam will work only if the world’s public suddenly recognizes that their fear was all just a mistake. Nothing here folks. Move along.

    Ain’t gonna happen. It’s a momentary attempt at a Hail Mary play. It will fail.

    What’s really bothering me is what the impact will really be…not just on housing. That’s a dead animal, with prices coming up at 33% of the high, and in some places even lower, and sustained for at least 5 if not 10+ years.

    What’s really bothering me is my inability to see any asset that will act as a safe store of value in this credit freeze now just beginning to blow. (Even going short, via a broker, is and can be treacherous…Farr Financial just had a chunk of its customers’ assets frozen in BK courtesy of the Sentinel management fools (crooks?) who sucked up those MBS’s and CDO’s as if they were Kool Aid and themselves are now BK. So, shorting…which means placing real cash in the hands of reckless brokerage managers, there to skim that extra fraction of a point, can lead to being in line, begging at the fed repayment agency, or, if large enough, joining the FB’s who have lost their downs and lost their buying power.)

    Got ideas?

    Reply
  • thamnosma
    August 19, 2007 at 9:34 am

    holding some precious metal bullions, Asian government bonds (those with huge cash surpluses, even if they lose whatever they own in toxic waste, their coffers are full of our debt), maybe some defensive stocks, though not sure what those might be now…perhaps regulated utilities, oil, basic foodstuffs and CASH (though who knows what will be happening to currencies now).

    I did buy into SRS, seemed like a no-brainer shorting the US real estate index. I mean, when will THAT be going up again other than a daily spike?

    Not many safe havens out there.

    Reply
  • formul8
    August 19, 2007 at 11:04 am

    Great post, Dr. HB!

    I am curious if the next Fed rate cut (which we KNOW is coming next month to stabilize the wacky stock market situation) will fuel a minor upswing in lending for people who do have the income and credit to gobble some remaining homes slightly on the cheap and try to force a “dead cat bounce”?

    Interesting…

    Reply
  • Stuart
    August 19, 2007 at 11:10 am

    I was watching Glenn Beck the other day and he was speaking with a “financial expert”. This expert said he has recently been liquidating his client’s US dollar investments into foregin stock and currency. The reason for this is, he predicts, that the US dollar is going to fall greatly (speculating that it will decrease in value at least by half over the next few years).

    This is VERY scary. If the Dollar is worthless, our buying power goes down tremendously.

    I was hoping for your thoughts on this, as I enjoy everyones comments at Dr. Housing Bubble.

    Stu.

    Reply
  • Smithers
    August 19, 2007 at 1:29 pm

    Great Blog Post, Dr HB.

    More than one way for Lost Wages.

    I bought some Intel shares in 2001-02 during its long, slow slide down to oblivion. I had previously been “good” at day trading. My thinking at the time was that, if it was once worth buying at 70, it was a great buy at 50, a steal at 40, being given away at 30, and so on.

    Many dot com day traders made good money for a few years, thought they were skilled “investors”, quit their day jobs, and proceeded to lose it all (and then some) sitting at their computers watching the markets tank, hoping that sheer wishful thinking and prayers would would turn it all around. Sadly, this destroyed many families in the process.

    If you start playing black jack and win big your first couple of trips to the tables, you are doomed, because you actually think you are skilled and not like the others.

    Intel has never bounced back to the dot com heights, although it has only been 6 years since then. Wonder how long for Compton houses to bounce back?

    Re CFC, looks like our former state treasurer (and daughter of current attorney general) made some smart plays buying and (presumably) holding their stock.

    30-Mar-07 BROWN KATHLEEN
    Director 720 Direct Acquisition (Non Open Market) at $33.64 per share. $24,220

    29-Dec-06 BROWN KATHLEEN
    Director 462 Direct Acquisition (Non Open Market) at $42.67 per share. $19,713

    29-Sep-06 BROWN KATHLEEN
    Director 608 Direct Acquisition (Non Open Market) at $34.93 per share. $21,237

    30-Jun-06 BROWN KATHLEEN
    Director 553 Direct Acquisition (Non Open Market) at $38.37 per share. $21,218

    Reply
  • AuAgPb
    August 19, 2007 at 7:22 pm

    I was watching Glenn Beck the other day and he was speaking with a “financial expert”. This expert said he has recently been liquidating his client’s US dollar investments into foregin stock and currency. The reason for this is, he predicts, that the US dollar is going to fall greatly (speculating that it will decrease in value at least by half over the next few years).

    This is VERY scary. If the Dollar is worthless, our buying power goes down tremendously.

    I was hoping for your thoughts on this, as I enjoy everyones comments at Dr. Housing Bubble.

    Stu.

    Stu, I believe that expert was Peter Schiff of Euro Pacific Capital (europac.net)

    Reply
  • Travis Roberts
    August 19, 2007 at 7:42 pm

    I am actually taking my real estate license exam tomorrow, hope things pick up in the next few years. It always has in the past anyway…

    thinking long term…

    Reply
  • Musnbny
    August 19, 2007 at 8:01 pm

    Travis,

    If you can spell and take a clear picture for your future MLS listings you will be well ahead of your peers, especially in So. Cal. It is amazing how stupid some of these people are if you read their listings. Do they think readers don’t know or care about grammar and spelling? The blurry pictures make me laugh out loud.

    Better yet, if you were a smart man, you would start a true buyer’s agent service. Charge a flat rate, not tied to ultimate housing sales price, promise to show your clients XX number of homes over XX months for a flat fee. This would revolutionize and perhaps bring some ethics back to the industry. It’s in sad shape, Travis.

    True buyer’s agents would say not that “this is a great time to buy” but they’d say “now’s the time to make a great low ball offer!”

    Reply
  • Chris
    August 19, 2007 at 10:45 pm

    @munsbery

    LOL! Everyday is a great day to make a low ball offer. The price is just happening to move down. 🙂

    Seriously, I have been investing (not flipping w/out adding value) in Single & Multi Family units since about 99 or so. I’ve learned three things that are really important for buying property.

    1) You aren’t going to find your best deals through a realtor.

    2) If you aren’t embarrassed by your offer, you are offering too much.

    3) This is not the last deal like this you will ever see. Chances are you will find a deal that is just as good next week.

    Reply
  • Chris
    August 19, 2007 at 10:58 pm

    @travis

    Don’t sweat the small stuff. Attend a local real estate investors club and meet and learn from the seasoned pros.

    There is a real niche for realtors who understand why an investor is making “low ball” offers. Approach it with a open mind. When you find ethical, professional investors (ie not retail filpers) and work with them; they will drive business your way.

    Reply
  • Steve
    August 20, 2007 at 6:03 am

    A letter you might receive in the future:

    Dear John,

    We at Blah Blah bank have been please to provide you with years of excellent service. Your excellent credit rating and years of only paying interest have been a great boost to our profits. Due to current market conditions we have decided to close our credit card lending division.

    Given this, the card you live off of day-to-day and are using right now while on vacation will be disabled on Jan 1st.

    Your current balance of $14,512.32 will be due in full by January 31st. If we don’t receive your payment by this date we will turn this over to our collections office.

    Thank you,
    Mr. Bank President
    Blah Blah Bank

    Your

    Reply
  • michael vick
    August 20, 2007 at 1:30 pm

    For sale: Beautiful residential compound in rural Virginia, large landscaped grounds, complete with pool, jacuzzi, and extensive dog kennel.

    Motivated seller.

    Reply
  • DebtFree
    August 20, 2007 at 4:50 pm

    @auagpb

    I was watching Glenn Beck the other day and he was speaking with a “financial expert”.

    That was Peter Schiff. He’s been right all along but no one wants to hear what he has to say. You can go to his website: http://www.europac.net
    click under resources, then click video interviews and you can watch all his interviews.

    For other great real financial news, please check out FinancialSense.com

    they are on vacation for two weeks but doe to everything that i going on they wil do a small broadcast this weekend anyway. You can check out their old braodcasts which you can listen to anytime during the week. Great show.

    Peter Schiff is a frequent guest on Financial Sense.

    There is another guy I read, his website is: OffTwoMinds.com

    Hope you get something from this.

    Reply
  • Dr Housing Bubble
    August 20, 2007 at 7:24 pm

    Countrywide finally faces reality:


    Countrywide said to start layoffs

    I remember that they were actually hiring people just recently. On May 15 in the comments I posted,

    “Those in the housing camp would love for this bubble to continue ad nauseum. I can only pause and reflect that Countrywide announced yesterday they will be hiring 2,000 more people and issuing a 50 year subprime mortgage and reverse mortgages. Un-freakin-believable…”

    Why Did the Housing Phenomenon Spread? 3 Key Reasons for a Social Epidemic: Housing Connectors; Mavens; and Salespeople. MAY 15 Post Date

    So even 3 months ago, Countrywide was still thinking that the subprime game was going to go on forever. They did this posturing of hiring 2,000 people as a sort of chest thumping like, “we are housing, do not get in our way you mortal losers.”

    Want to make a guess which department they’ll be making those cuts in? I have a guess that those 2,000 new recruits dishing out 50 year subprime loans may be the first to go.

    Reply

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