Delaware State Housing Authority Multi-Family and Single Family

Delaware State Housing Authority

Multi-Family and Single Family Mortgage Revenue Bonds Quarterly Disclosure Statements

December 31, 2007

DISCLAIMER All information contained in each disclosure statement was obtained from sources believed to be accurate and reliable. References should be made to the Official Statement and operative documents of each series for complete information on any particular issue. Because of the possibility of human and mechanical error as well as other factors, however, such information is provided "as is" without warranty of any kind and, in particular, no representation or warranty, expressed or implied, is made nor to be inferred as to the accuracy, timeliness or completeness, of any such information. Under no circumstances shall the Delaware State Housing Authority have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any error (neglect or otherwise) or other circumstances involved in procuring, collecting, compiling, interpreting, analyzing, editing, transcribing, transmitting, communicating or delivering any such information, or (b) any direct, indirect, special, consequential or incidental damages whatsoever, even if the Delaware State Housing Authority is advised in advance of the possibility of such damages, resulting from the use of, or inability to use, any such information.

TABLE OF CONTENTS

I. INTRODUCTION II. SINGLE FAMILY MORTGAGE REVENUE BONDS III. MULTI-FAMILY MORTGAGE REVENUE BONDS

PART I

INTRODUCTION

DELAWARE STATE HOUSING AUTHORITY The Delaware State Housing Authority (the "Authority") was created in 1968. Effective July 2, 1998, the Authority was reestablished as an independent authority in the Executive Department of the State, reporting directly to the Governor of the State. The Authority has the power, among other things, to make mortgage loans and other loans to not-for-profit and limited-profit housing sponsors; to acquire, manage and operate real and personal property in the State; to build housing for sale or rent at affordable prices to low and moderate income persons; to make mortgage loans to mortgage lenders requiring the proceeds thereof to be used by such mortgage lenders for the making of new residential mortgage loans; to purchase mortgage loans from mortgage lenders; to establish (and revise from time to time) and charge and collect fees and charges in connection with such programs; to issue its bonds and notes and to provide for and secure the payment thereof and to provide for the rights of the holders thereof; and to do any and all things necessary or convenient to carry out its purpose and exercise the powers granted in the Act. The Authority has no taxing power.

SINGLE FAMILY MORTGAGE REVENUE BOND PROGRAM

The Authority has offered the Single Family Mortgage Revenue Bond (SFMRB) Program since 1979. Under the SFMRB Program, the Authority issues tax-exempt mortgage revenue bonds and uses the proceeds to purchase from qualified lenders, below market interest rate mortgages. Mortgage loans purchased by the Authority must be made to first-time homebuyers who are income eligible. The Authority underwrites all loans to ensure compliance with the requirements imposed by the Code before purchasing. As of December 31, 2007 the Authority has issued 40 series of bonds for $2,062,894,400 of which $892,311,058 were outstanding as of such date. These funds were used to purchase 13,837 mortgage loans totaling $823,465,142 and 626 mortgage backed securities totaling $733,356,077.

FAMILY ASSISTED INTEREST RATE PROGRAM The Family Assisted Interest Rate (FAIR) Loan Program, offered as a feature of the Single Family Mortgage Revenue Bond (SFMRB) Program, provides 30 year mortgages at rates which are lower than the regular SFMRB Program rates and are substantially below conventional lending rates for qualified first-time homebuyers. The Program specifically targets very-low income families who are ready for homeownership, but who are unable to qualify for the otherwise available SFMRB money. To make this pool of money available at interest rates approximately one to one and one half percent lower than the SFMRB rates, the Authority uses a cross subsidy structure. Local lenders purchase subordinated bonds within the SFMRB issue to cover the prepayment risk associated with the cross subsidy structure. All FAIR loans are FHA insured.

(I)

SECOND MORTGAGE ASSISTANCE LOAN PROGRAM The Second Mortgage Assistance Loan (SMAL) Program was created in 1989 for the purpose of providing downpayment and closing cost assistance to low- to moderate-income Delawareans. The SMAL Program provides up to $5,000 in downpayment and closing cost assistance to qualified borrowers in the form of a deferred payment second mortgage. Originally offered only in conjunction with the SFMRB Program, the SMAL Program in recent years has been restructured as a stand alone program which requires participating lenders to offer a below market first mortgage to SMAL loan borrowers. The interest rate on the mortgages is 6% and compounded annually.

MULTI-FAMILY MORTGAGE REVENUE BOND PROGRAM Under the Multi-Family Mortgage Revenue Bond (MFMRB) Program, the Authority issues Mortgage Revenue Bonds to finance loans made to non-profit and limited profit housing sponsors for construction or substantial rehabilitation, and subsequent permanent financing of housing. Designed for low and moderate income persons and families or elderly persons, the Program operates generally in conjunction with the federally assisted Section 8 Program. Since the authorization of the Low Income Housing Tax Credits (LIHTC) in the 1986 Tax Reform Act, the Authority has allocated tax credits to qualified projects being financed through the MFMRB Program. The LIHTC Program facilitates the construction and development of quality low-income rental housing by providing investors in low-income housing a dollar-for-dollar reduction in their federal income tax liability. As of December 31, 2007 the Authority has issued 19 series of MFMRB bonds for $270,165,000 of which $27,180,000 were outstanding as of such date. These funds were used to finance the construction or rehabilitation of 31 projects totaling 2,900 units. NOTE: 1) Under CURRENT RATING in the disclosure statements, Moody's rating is listed first, then Standard & Poor's rating is listed. If a third rating appears, that rating was assigned by Fitch Investor Service. 2) The pool insurer, Commonwealth Mortgage Assurance Company (CMAC), merged with Amerin on June 10, 1999 and is now doing business as Radian Guaranty, Inc.

(II)

DELAWARE STATE HOUSING AUTHORITYSINGLE FAMILY MORTGAGE REVENUE BOND PROGRAM

All data as of December 31, 2007Senior Single Family Mortgage Revenue Bonds

BOND ISSUE: 1994 Series A9/12/1994Date of Issue:

new rating occurred on 7/11/06Aa2Current Rating:

Includes $423,637.00 of Subord. CABs$40,873,637.00Amount Issued:Refunded by 2007D on 11/14/07.$0.00Amount Outstanding:

Prepayments up to 100% FHA shall be applied to redeemCall Provisions:1994 A Senior Bonds pro-rata with 2019 & 2024 shareused to call 2016 term bonds first. Prepayments over 100%FHA and upon retirement of 2016 bonds can be used topurchase new mortgages or to redeem 1994 A Senior Bonds.

On 11/14/07, all 1994 Series A bonds were refunded by the 2007 Series D bonds.

List of Bonds by Maturity InterestAmountOriginal Maturity

StatusRateOutstandingAmountTypeDateAMT4.25%$325,000.00sr. serial7/1/1996AMT4.55%$335,000.00sr. serial1/1/1997AMT4.55%$340,000.00sr. serial7/1/1997AMT4.80%$350,000.00sr. serial1/1/1998AMT4.80%$360,000.00sr. serial7/1/1998AMT5.05%$370,000.00sr. serial1/1/1999AMT5.05%$375,000.00sr. serial7/1/1999AMT5.25%$390,000.00sr. serial1/1/2000AMT5.25%$400,000.00sr. serial7/1/2000AMT5.40%$410,000.00sr. serial1/1/2001AMT5.40%$420,000.00sr. serial7/1/2001AMT5.50%$435,000.00sr. serial1/1/2002AMT5.50%$445,000.00sr. serial7/1/2002AMT5.60%$460,000.00sr. serial1/1/2003AMT5.60%$475,000.00sr. serial7/1/2003AMT5.70%$485,000.00sr. serial1/1/2004AMT5.70%$500,000.00sr. serial7/1/2004AMT5.80%$515,000.00sr. serial1/1/2005AMT5.80%$535,000.00sr. serial7/1/2005AMT5.90%$550,000.00sr. serial1/1/2006AMT5.90%$565,000.00sr. serial7/1/2006AMT6.00%$325,000.00sr. serial1/1/2007

Non-AMT5.90%$265,000.00sr. serial1/1/2007Non-AMT5.90%$605,000.00sr. serial7/1/2007Non-AMT6.00%$0.00$625,000.00sr. serial1/1/2008

1994-AInterestAmountOriginal Maturity

StatusRateOutstandingAmountTypeDateNon-AMT6.00%$0.00$645,000.00sr. serial7/1/2008Non-AMT6.10%$0.00$665,000.00sr. serial1/1/2009Non-AMT6.10%$0.00$685,000.00sr. serial7/1/2009Non-AMT6.45%$0.00$6,390,000.00sr. term7/1/2013

AMT6.00%$0.00$5,095,000.00sr. term7/1/2016AMT6.70%$0.00$5,285,000.00sr. term7/1/2019AMT6.75%$0.00$10,825,000.00sr. term7/1/2024AMT6.75% yield$0.00$423,637.00Subord. CAB7/1/2025

$0.00$40,873,637.00TOTAL:

Reserve Fund InformationRateHolderBalanceName

7.45%FGIC Capital Market Services Inc.$0.00Debt Service Reserve7.45%FGIC Capital Market Services Inc.$0.00Mortgage Reserve6.20%JP Morgan Chase Bank$0.00Redemption Fund

Bond Redemption From January 1, 2007 to December 31, 2007Type of Source of% of

CallFundsOut. BondsAmountDatesched. mat.mortg. pymts.1.66%$60,00001/01/07

pro-rataprepayments14.92%$540,00001/01/07sched. mat.mortg. pymts.1.47%$45,00007/01/07

pro-rataprepayments8.85%$270,00007/01/07Issue Called in Fullrefunding100.00%2761493.1411/14/07

The 1994-A bonds were issued on 10/05/94 to refund 1984-A bonds and to make$32,346,000 available in new mortgage money. The outstanding 1984-A mortgageloans were transferred to the 1994-A issue with the exception of 46 loans totaling$1,723,374.47 which were transferred to the Authority.On 11/14/07, all 1994 Series A bonds were refunded by the 2007 Series D bonds.

1994-A

Call HistoryType of Source of

CallFundsAmountDatepro-rataprepayments$100,00001/01/95pro-rataprepayments$275,00007/01/95pro-rataunused proceeds$4,850,00012/29/95pro-rataprepayments$475,00001/01/96pro-rataunused proceeds$95,00001/24/96pro-rataprepayments$820,00007/01/96pro-rataprepayments$415,00001/01/97pro-rataprepayments$805,00007/01/97pro-rataprepayments$335,00001/01/98pro-rataprepayments$890,00007/01/98pro-rataprepayments$1,215,00001/01/99pro-rataprepayments$1,610,00007/01/99pro-rataprepayments$545,00001/01/00pro-rataprepayments$795,00007/01/00pro-rataprepayments$975,00001/01/01pro-rataprepayments$860,00007/01/01pro-rataprepayments$1,530,00001/01/02pro-rataprepayments$925,00007/01/02pro-rataprepayments$1,995,00001/01/03pro-rataprepayments$3,085,00007/01/03pro-rataprepayments$4,015,00001/01/04pro-rataprepayments$1,880,00007/01/04pro-rataprepayments$1,290,00001/01/05pro-rataprepayments$640,00007/01/05pro-rataprepayments$1,290,00001/01/06pro-rataprepayments$1,035,00007/01/06

1994-AOn 11/14/07, all outstanding 1994A mortgages transferred toNew Mortgage Money Loans

the 2007D.Mortgage Program

7.125% / 5.625% FAIR Interest Rate:99%Det. Sgle. Fam:Type Homes -30 yearsTerm:1%Condos:$27,328,446.00Total Mortgages Purchased:0%2-4 Units:307No. Mortgages Purchased:

42%CMAC:Private Ins. -$0.00Total Mortg. Outstanding:1%MGIC:0No. Mortgages Outstanding:0%Others:nonePrepayment penalty:

of current portfolio.36%New Construction:

of current portfolio.64%Existing Homes:9%Conv. w/o PMI:43%Conv. w/ PMI:Insurance Type of

41%FHA:6%VA:Original Portfolio:1%FmHA:* Only conventional loans have pool insurance with CMAC.

Quarterly Mortgage Prepayments for 2007% of Prev. Quart.Amount of Number

Out. LoansPaid Off Loansof LoansPeriod3.61%$139,156.322Jan 1- Mar 315.66%$208,626.333Apr 1- Jun 304.53%$156,222.042Jul 1- Sep 30

Oct 1- Dec 31

Delinquency StatusForeclosure90 Days60 Days

% Out. LoansAmount% Out. LoansAmount% Out. LoansAmount

0.00%$00.00%$00.00%$0

% Out. LoansNumber% Out. LoansNumber% Out. LoansNumber

0.00%00.00%00.00%0

7No. Loans Forcl. to Date:CMACPool Insurance Provider:-$33,564Forcl. (Loss)/Gain to Date:$1,475,586Maximum Pool Coverage:-$99,349Amount of REO Outstanding:$56,616Amt. Pool Claims to Date:

1Number of REO Outstanding:$1,418,970Rem. Pool Coverage:-$99,349Amount at Time of Default:3No. Pool Claims to Date:

1994-A/1984-A1984-A outstanding mortgage loans transferred to 1994-A., then to 2007D on 11/14/07.

Mortgage Program

98%Det. Sgle. Fam:Type Homes -10.85%Interest Rate:3%Condos:30 yearsTerm:0%2-4 Units:$45,125,189.00Total Mortgages Purchased:9%MGIC:Private Ins. -960No. Mortgages Purchased:

72%VEREX:$0.00Total Mortg. Outstanding:4%Others:0No. Mortgages Outstanding:

NonePrepayment penalty:of original portfolio.38%New Construction:

of original portfolio.62%Existing Homes:5%Conv. w/o PMI:85%Conv. w/ PMI:Insurance Type of4%FHA:6%VA:Original Portfolio:

NOTE: All 1984-A mortgage loans transferred to the 1994-A issue areinsured under the 1994-A pool insurance policy provided by CMAC.


Out. LoansPaid Off Loansof LoansPeriod0.00%$0.000Jan 1- Mar 310.00%$0.000Apr 1- Jun 300.00%$0.000Jul 1- Sep 30

Oct 1- Dec 31



0.00%$00.00%$00.00%$0


0.00%00.00%00.00%0

5(1) No. Loans Forcl. to Date:CMACPool Insurance Provider:-$30,547(1) Forcl. (Loss)/Gain to Date:$1,475,586Maximum Pool Coverage:

$0Amount of REO Outstanding:$16,322(1) Amt. Pool Claims to Date:0Number of REO Outstanding:$1,459,264Rem. Pool Coverage:

$0Amount at Time of Default:1(1) No. Pool Claims to Date:

(1) Starting with the date that the mortgage loans were transferred to 1994-A issue - 10/5/1994.





Includes $423,637.00 of Subord. CABs$40,873,637.00Amount Issued:Refunded by 2007D on 11/14/07.$0.00Amount Outstanding:

Prepayments up to 100% FHA shall be applied to redeemCall Provisions:1994 A Senior Bonds pro-rata with 2019 & 2024 shareused to call 2016 term bonds first. Prepayments over 100%FHA and upon retirement of 2016 bonds can be used topurchase new mortgages or to redeem 1994 A Senior Bonds.



StatusRateOutstandingAmountTypeDateAMT4.25%$325,000.00sr. serial7/1/1996AMT4.55%$335,000.00sr. serial1/1/1997AMT4.55%$340,000.00sr. serial7/1/1997AMT4.80%$350,000.00sr. serial1/1/1998AMT4.80%$360,000.00sr. serial7/1/1998AMT5.05%$370,000.00sr. serial1/1/1999AMT5.05%$375,000.00sr. serial7/1/1999AMT5.25%$390,000.00sr. serial1/1/2000AMT5.25%$400,000.00sr. serial7/1/2000AMT5.40%$410,000.00sr. serial1/1/2001AMT5.40%$420,000.00sr. serial7/1/2001AMT5.50%$435,000.00sr. serial1/1/2002AMT5.50%$445,000.00sr. serial7/1/2002AMT5.60%$460,000.00sr. serial1/1/2003AMT5.60%$475,000.00sr. serial7/1/2003AMT5.70%$485,000.00sr. serial1/1/2004AMT5.70%$500,000.00sr. serial7/1/2004AMT5.80%$515,000.00sr. serial1/1/2005AMT5.80%$535,000.00sr. serial7/1/2005AMT5.90%$550,000.00sr. serial1/1/2006AMT5.90%$565,000.00sr. serial7/1/2006AMT6.00%$325,000.00sr. serial1/1/2007

Non-AMT5.90%$265,000.00sr. serial1/1/2007Non-AMT5.90%$605,000.00sr. serial7/1/2007Non-AMT6.00%$0.00$625,000.00sr. serial1/1/2008


StatusRateOutstandingAmountTypeDateNon-AMT6.00%$0.00$645,000.00sr. serial7/1/2008Non-AMT6.10%$0.00$665,000.00sr. serial1/1/2009Non-AMT6.10%$0.00$685,000.00sr. serial7/1/2009Non-AMT6.45%$0.00$6,390,000.00sr. term7/1/2013

AMT6.00%$0.00$5,095,000.00sr. term7/1/2016AMT6.70%$0.00$5,285,000.00sr. term7/1/2019AMT6.75%$0.00$10,825,000.00sr. term7/1/2024AMT6.75% yield$0.00$423,637.00Subord. CAB7/1/2025

$0.00$40,873,637.00TOTAL:


7.45%FGIC Capital Market Services Inc.$0.00Debt Service Reserve7.45%FGIC Capital Market Services Inc.$0.00Mortgage Reserve6.20%JP Morgan Chase Bank$0.00Redemption Fund




pro-rataprepayments8.85%$270,00007/01/07Issue Called in Fullrefunding100.00%2761493.1411/14/07

The 1994-A bonds were issued on 10/05/94 to refund 1984-A bonds and to make$32,346,000 available in new mortgage money. The outstanding 1984-A mortgageloans were transferred to the 1994-A issue with the exception of 46 loans totaling$1,723,374.47 which were transferred to the Authority.On 11/14/07, all 1994 Series A bonds were refunded by the 2007 Series D bonds.

1994-A


CallFundsAmountDatepro-rataprepayments$100,00001/01/95pro-rataprepayments$275,00007/01/95pro-rataunused proceeds$4,850,00012/29/95pro-rataprepayments$475,00001/01/96pro-rataunused proceeds$95,00001/24/96pro-rataprepayments$820,00007/01/96pro-rataprepayments$415,00001/01/97pro-rataprepayments$805,00007/01/97pro-rataprepayments$335,00001/01/98pro-rataprepayments$890,00007/01/98pro-rataprepayments$1,215,00001/01/99pro-rataprepayments$1,610,00007/01/99pro-rataprepayments$545,00001/01/00pro-rataprepayments$795,00007/01/00pro-rataprepayments$975,00001/01/01pro-rataprepayments$860,00007/01/01pro-rataprepayments$1,530,00001/01/02pro-rataprepayments$925,00007/01/02pro-rataprepayments$1,995,00001/01/03pro-rataprepayments$3,085,00007/01/03pro-rataprepayments$4,015,00001/01/04pro-rataprepayments$1,880,00007/01/04pro-rataprepayments$1,290,00001/01/05pro-rataprepayments$640,00007/01/05pro-rataprepayments$1,290,00001/01/06pro-rataprepayments$1,035,00007/01/06

1994-AOn 11/14/07, all outstanding 1994A mortgages transferred toNew Mortgage Money Loans




of current portfolio.36%New Construction:

of current portfolio.64%Existing Homes:9%Conv. w/o PMI:43%Conv. w/ PMI:Insurance Type of

41%FHA:6%VA:Original Portfolio:1%FmHA:* Only conventional loans have pool insurance with CMAC.


Out. LoansPaid Off Loansof LoansPeriod3.61%$139,156.322Jan 1- Mar 315.66%$208,626.333Apr 1- Jun 304.53%$156,222.042Jul 1- Sep 30

Oct 1- Dec 31



0.00%$00.00%$00.00%$0


0.00%00.00%00.00%0




Mortgage Program

98%Det. Sgle. Fam:Type Homes -10.85%Interest Rate:3%Condos:30 yearsTerm:0%2-4 Units:$45,125,189.00Total Mortgages Purchased:9%MGIC:Private Ins. -960No. Mortgages Purchased:

72%VEREX:$0.00Total Mortg. Outstanding:4%Others:0No. Mortgages Outstanding:





Out. LoansPaid Off Loansof LoansPeriod0.00%$0.000Jan 1- Mar 310.00%$0.000Apr 1- Jun 300.00%$0.000Jul 1- Sep 30

Oct 1- Dec 31



0.00%$00.00%$00.00%$0


0.00%00.00%00.00%0










Includes $149,968.80 of Subord. CABs$37,349,968.80Amount Issued:Refunded in full by 2007D on 11/14/07.$0.00Amount Outstanding:

Prepayments up to 100% FHA shall be applied to Call Provisions:redeem the 1995 A Senior Bonds pro-rata with 2026term bond share used to call 2019 term bonds first. Prepayments over 100% FHA can be used to purchasenew mortgages or to redeem 1995 A Bonds.


StatusRateOutstandingAmountTypeDateAMT4.60%$170,000.00sr. serial1/1/1997AMT4.60%$235,000.00sr. serial7/1/1997AMT4.75%$240,000.00sr. serial1/1/1998AMT4.75%$245,000.00sr. serial7/1/1998AMT4.90%$255,000.00sr. serial1/1/1999AMT4.90%$260,000.00sr. serial7/1/1999AMT5.05%$270,000.00sr. serial1/1/2000AMT5.05%$275,000.00sr. serial7/1/2000AMT5.20%$285,000.00sr. serial1/1/2001AMT5.20%$290,000.00sr. serial7/1/2001AMT5.35%$300,000.00sr. serial1/1/2002AMT5.35%$310,000.00sr. serial7/1/2002AMT5.45%$320,000.00sr. serial1/1/2003AMT5.45%$330,000.00sr. serial7/1/2003AMT5.55%$335,000.00sr. serial1/1/2004AMT5.55%$350,000.00sr. serial7/1/2004AMT5.65%$360,000.00sr. serial1/1/2005AMT5.65%$370,000.00sr. serial7/1/2005AMT5.75%$380,000.00sr. serial1/1/2006AMT5.75%$395,000.00sr. serial7/1/2006AMT5.85%$405,000.00sr. serial1/1/2007AMT5.85%$420,000.00sr. serial7/1/2007AMT5.95%$0.00$430,000.00sr. serial1/1/2008AMT5.95%$0.00$445,000.00sr. serial7/1/2008


StatusRateOutstandingAmountTypeDateAMT6.05%$0.00$460,000.00sr. serial1/1/2009AMT6.05%$0.00$475,000.00sr. serial7/1/2009AMT6.10%$0.00$490,000.00sr. serial1/1/2010AMT6.10%$0.00$505,000.00sr. serial7/1/2010AMT6.30%$0.00$4,730,000.00sr. term7/1/2014AMT6.10%$0.00$7,015,000.00sr. term1/1/2019AMT6.45%$0.00$15,850,000.00sr. term1/1/2026AMT6.45% yield$0.00$149,968.80Subord. CAB7/1/2026

$0.00$37,349,968.80TOTAL:

Reserve Fund InformationRateHolderBalanceName6.75%Transamerica Life Ins. & Annuity Co.$0.00Debt Service Reserve6.75%Transamerica Life Ins. & Annuity Co.$0.00Mortgage Reserve6.32%Transamerica Life Ins. & Annuity Co.$0.00Redemption Fund




pro-rataprepayments6.84%$185,00007/01/07 Called in Fullrefunding100.00%$2,475,998.4011/14/70

1995-A


CallFundsAmountDatepro-rataunused proceeds$5,860,00004/16/96pro-rataunused proceeds$6,550,00007/01/96pro-rataunused proceeds$2,020,00009/06/96pro-rataunused proceeds$75,00001/01/97pro-rataunused proceeds$160,00007/01/97pro-rataprepayments$145,00001/01/98pro-rataprepayments$320,00007/01/98pro-rataprepayments$425,00001/01/99pro-rataprepayments$590,00007/01/99pro-rataprepayments$1,160,00001/01/00pro-rataprepayments$370,00007/01/00pro-rataprepayments$470,00001/01/01pro-rataprepayments$665,00007/01/01pro-rataprepayments$1,025,00001/01/02pro-rataprepayments$1,105,00007/01/02pro-rataprepayments$1,405,00001/01/03pro-rataprepayments$1,215,00007/01/03pro-rataprepayments$3,480,00001/01/04pro-rataprepayments$1,550,00007/01/04pro-rataprepayments$1,270,00001/01/05pro-rataprepayments$840,00007/01/05pro-rataprepayments$445,00001/01/06pro-rataprepayments$500,00007/01/06

1995-AOn 11/14/07 outstanding mortgages transferred to 2007New Mortgage Money Loans

Mortgage Program

6.95% / 5.5% FAIRInterest Rate:98%Det. Sgle. Fam:Type Homes -30 yearsTerm:2%Condos:$20,274,409.00Total Mortgages Purchased:0%2-4 Units:220No. Mortgages Purchased:


30%New Construction: 70%Existing Homes:

6%Conv. w/o PMI:42%Conv. w/ PMI:Insurance Type of40%FHA:12%VA:Original Portfolio:*

* Conventional loans only have pool insurance with CMAC.


Out. LoansPaid Off Loansof LoansPeriod0.00%$0.000Jan 1 - Mar 313.79%$109,513.142Apr 1 - Jun 30

12.84%$352,470.015Jul 1 - Sep 30Oct 1 - Dec 31



0.00%$00.00%$00.00%$0


0.00%00.00%00.00%0

2No. Loans Forcl. to Date:CMACPool Insurance Provider:-$15,927Forcl. (Loss)/Gain to Date:$1,405,152Maximum Pool Coverage:-$81,669Amount of REO Outstanding:$0Amt. Pool Claims to Date:





new rating occurred on 7/11/06Aa2Current Rating:Includes $413,192.34 of Subord. CABs$43,588,192.34Amount Issued:

$5,387,375.40Amount Outstanding:Prepayments up to 100% FHA shall be applied to the redemption ofCall Provisions:the 1997 A Bonds pro-rata with the 2028 term bond share used to call the 2026 term bond first. Prepayments over 100% FHA can be used to purchase new mortgages or to redeem 1997A Bonds.Ambac Assurance CorporationBond Insurer:

List of Bonds by MaturityInterestAmountOriginal Maturity

StatusRateOutstandingAmountTypeDateAMT3.70%$150,000.00sr. serial1/1/1998AMT3.85%$115,000.00sr. serial7/1/1998AMT4.10%$405,000.00sr. serial1/1/1999AMT4.25%$400,000.00sr. serial7/1/1999AMT4.45%$400,000.00sr. serial1/1/2000AMT4.45%$410,000.00sr. serial7/1/2000AMT4.60%$420,000.00sr. serial1/1/2001AMT4.60%$430,000.00sr. serial7/1/2001AMT4.75%$440,000.00sr. serial1/1/2002AMT4.75%$450,000.00sr. serial7/1/2002AMT4.85%$460,000.00sr. serial1/1/2003AMT4.85%$470,000.00sr. serial7/1/2003AMT4.95%$485,000.00sr. serial1/1/2004AMT4.95%$495,000.00sr. serial7/1/2004AMT5.10%$510,000.00sr. serial1/1/2005AMT5.10%$520,000.00sr. serial7/1/2005AMT5.20%$535,000.00sr. serial1/1/2006AMT5.20%$550,000.00sr. serial7/1/2006AMT5.30%$560,000.00sr. serial1/1/2007AMT5.30%$575,000.00sr. serial7/1/2007AMT5.45%$95,000.00$595,000.00sr. serial1/1/2008AMT5.45%$100,000.00$610,000.00sr. serial7/1/2008AMT5.55%$100,000.00$625,000.00sr. serial1/1/2009AMT5.55%$95,000.00$640,000.00sr. serial7/1/2009AMT5.65%$95,000.00$660,000.00sr. serial1/1/2010


StatusRateOutstandingAmountTypeDateAMT5.65%$100,000.00$680,000.00sr. serial7/1/2010AMT5.70%$100,000.00$700,000.00sr. serial1/1/2011AMT5.70%$105,000.00$715,000.00sr. serial7/1/2011AMT5.75%$105,000.00$740,000.00sr. serial1/1/2012AMT5.75%$105,000.00$760,000.00sr. serial7/1/2012AMT6.00%$1,680,000.00$11,090,000.00sr. term7/1/2018AMT5.30%$0.00$11,890,000.00sr. term1/1/2026AMT6.05%$1,925,000.00$4,690,000.00sr. term7/1/2028AMT6.05% yield$782,375.40$413,192.34Subord. CAB7/1/2028

$5,387,375.40$43,588,192.34TOTAL:


6.87%AIG Matched Funding Corp.$225,500.00Debt Service Reserve6.87%AIG Matched Funding Corp.$102,219.48Mortgage Reserve6.44%AIG Matched Funding Corp.$0.56Redemption Fund N/AN/A$18,987.19Rebate

Bond Redemption From January 1, 2007 to January 1, 2008Type of Source of% of




pro-rataprepayments11.07%$595,00001/01/08

1997-A


CallFundsAmountDatepro-rataunused proceeds$610,00001/01/98pro-rataunused proceeds$1,200,00007/01/98pro-rataunused proceeds$885,00001/01/99pro-rataunused proceeds$5,660,00002/01/99pro-rataunused proceeds$890,00007/01/99pro-rataprepayments$940,00001/01/00pro-rataprepayments$685,00007/01/00pro-rataprepayments$420,00001/01/01pro-rataprepayments$780,00007/01/01pro-rataprepayments$2,195,00001/01/02pro-rataprepayments$1,910,00007/01/02pro-rataprepayments$1,400,00001/01/03pro-rataprepayments$1,715,00007/01/03pro-rataprepayments$5,110,00001/01/04pro-rataprepayments$2,365,00007/01/04pro-rataprepayments$2,330,00001/01/05pro-rataprepayments$1,610,00007/01/05pro-rataprepayments$1,825,00001/01/06pro-rataprepayments$755,00007/01/06

1997-ANew Mortgage Money Loans

Mortgage Program


100%CMAC:Private Ins. -$4,544,352.54Total Mortg. Outstanding:0%MGIC:61No. Mortgages Outstanding:0%Others:nonePrepayment penalty:

of current portfolio.23%New Construction: of current portfolio.77%Existing Homes:

8%Conv. w/o PMI:38%Conv. w/ PMI:Insurance Type of44%FHA:10%VA:Original Portfolio: *

*Conventional loans only have pool insurance with CMAC


Out. LoansPaid Off Loansof LoansPeriod2.69%$144,189.902Jan 1 - Mar 312.50%$129,240.532Apr 1 - Jun 305.00%$249,460.764Jul 1 - Sep 302.63%$123,642.862Oct 1 - Dec 31



0.00%$05.84%$265,4790.00%$0


0.00%04.92%30.00%0

6No. Loans Forcl. to Date:CMACPool Insurance Provider:-$45,113Forcl. (Loss)/Gain to Date:$1,321,790Maximum Pool Coverage:

$0Amount of REO Outstanding:$0Amt. Pool Claims to Date:0Number of REO Outstanding:$1,321,790Rem. Pool Coverage:

$0Amount at Time of Default:0No. Pool Claims to Date:

1997-A/1987-A1987-A outstanding mortgage loans transferred to 1997-A.

Mortgage Program

98%Det. Sgle. Fam:Type Homes -9.35%Interest Rate:1%Condos:30 yearsTerm:1%2-4 Units:$32,286,267.00Total Mortgages Purchased:

46%MGIC:Private Ins. -543No. Mortgages Purchased:3%VEREX:$537,820.96Total Mortg. Outstanding:0%Others:16No. Mortgages Outstanding:





Out. LoansPaid Off Loansof LoansPeriod0.00%$0.000Jan 1 - Mar 310.00%$0.000Apr 1 - Jun 300.00%$0.000Jul 1 - Sep 300.00%$0.000Oct 1 - Dec 31



0.00%$00.00%$00.00%$0


0.00%00.00%00.00%0


$0Amount of REO Outstanding:$0(1) Amt. Pool Claims to Date:0Number of REO Outstanding:$1,321,790Rem. Pool Coverage:





BOND ISSUE: 1997 Series B12/17/1997Date of Issue:


Includes $330,753.15 of Subord. CABs$31,330,753.15Amount Issued:$8,958,551.40Amount Outstanding:

Prepayments up to 100% FHA shall be applied to the redemption ofCall Provisions:the 1997 B Senior Bonds pro-rata. Prepayments over 100% FHAcan be used to purchase new mortgages or to redeem 1997 B Bonds.MBIA Insurance CorporationBond Insurer:


StatusRateOutstandingAmountTypeDateAMT4.00%$155,000.00sr. serial7/1/1999AMT4.15%$230,000.00sr. serial1/1/2000AMT4.15%$235,000.00sr. serial7/1/2000AMT4.25%$240,000.00sr. serial1/1/2001AMT4.25%$245,000.00sr. serial7/1/2001AMT4.35%$250,000.00sr. serial1/1/2002AMT4.35%$260,000.00sr. serial7/1/2002AMT4.45%$260,000.00sr. serial1/1/2003AMT4.45%$270,000.00sr. serial7/1/2003AMT4.55%$275,000.00sr. serial1/1/2004AMT4.55%$285,000.00sr. serial7/1/2004AMT4.65%$285,000.00sr. serial1/1/2005AMT4.65%$300,000.00sr. serial7/1/2005AMT4.70%$300,000.00sr. serial1/1/2006AMT4.70%$315,000.00sr. serial7/1/2006AMT4.75%$320,000.00sr. serial1/1/2007AMT4.75%$325,000.00sr. serial7/1/2007AMT4.85%$105,000.00$335,000.00sr. serial1/1/2008AMT4.85%$105,000.00$350,000.00sr. serial7/1/2008AMT4.95%$95,000.00$350,000.00sr. serial1/1/2009AMT4.95%$95,000.00$365,000.00sr. serial7/1/2009AMT5.01%$8,015,000.00$25,050,000.00sr. term1/1/2029AMT5.01%$543,551.40$330,753.15Subord. CAB7/1/2029

$8,958,551.40$31,330,753.15 TOTAL:

1997-B


6.14%Bayerische Landesbank Girozentrale$415,500.00Debt Service Reserve6.14%Bayerische Landesbank Girozentrale$165,906.79Mortgage Reserve6.01%Societe Generale$905,000.53Redemption FundN/AN/A$207,463.41Rebate





pro-rataprepayments10.11%$905,00001/01/08


CallFundsAmountDatepro-rataprepayments $65,00007/01/99pro-rataprepayments $340,00009/01/99pro-rataprepayments$80,00001/01/00pro-rataprepayments$300,00007/01/00pro-rataprepayments$370,00001/01/01pro-rataprepayments$245,00007/01/01pro-rataprepayments$505,00001/01/02pro-rataprepayments$1,120,00007/01/02pro-rataprepayments$1,020,00001/01/03pro-rataprepayments$1,960,00007/01/03pro-rataprepayments$2,865,00001/01/04pro-rataprepayments$2,755,00007/01/04pro-rataprepayments$2,060,00001/01/05pro-rataprepayments$1,995,00007/01/05pro-rataprepayments$1,225,00001/01/06pro-rataprepayments$840,00007/01/06

1997-BNew Mortgage Money Loans

Mortgage Program


91%UGRIC:Private Ins. -$8,113,096.30Total Mortg. Outstanding:1%CMAC:109No. Mortgages Outstanding:8%Others:nonePrepayment penalty:



*Conventional loans only have pool insurance with United Guaranty.





0.00%$03.00%$243,2190.75%$60,959


0.00%02.75%30.92%1

4No. Loans Forcl. to Date:UGRICPool Insurance Provider:-$22,495Forcl. (Loss)/Gain to Date:$1,202,000Maximum Pool Coverage:








Prepayments up to 100% FHA shall be applied to the redemption ofCall Provisions:the 1999 A Bonds pro-rata with the 2030 term bond share used tocall the 2019 term bond first. Prepayments over 100% FHA canbe used to purchase new mortgages or to redeem 1999 A Bonds.AmbacBond Insurer:


StatusRateOutstandingAmountTypeDateAMT4.30%$75,000.00sr. serial A-11/1/2002AMT4.30%$295,000.00sr. serial A-17/1/2002AMT4.45%$305,000.00sr. serial A-11/1/2003AMT4.45%$310,000.00sr. serial A-17/1/2003AMT4.55%$320,000.00sr. serial A-11/1/2004AMT4.55%$325,000.00sr. serial A-17/1/2004AMT4.75%$330,000.00sr. serial A-11/1/2005AMT4.75%$340,000.00sr. serial A-17/1/2005AMT4.85%$350,000.00sr. serial A-11/1/2006AMT4.85%$360,000.00sr. serial A-17/1/2006AMT4.95%$365,000.00sr. serial A-11/1/2007AMT4.95%$375,000.00sr. serial A-17/1/2007AMT5.05%$0.00$385,000.00sr. serial A-11/1/2008AMT5.05%$0.00$390,000.00sr. serial A-17/1/2008AMT5.10%$0.00$405,000.00sr. serial A-11/1/2009AMT5.10%$0.00$415,000.00sr. serial A-17/1/2009AMT5.20%$0.00$425,000.00sr. serial A-11/1/2010AMT5.20%$0.00$435,000.00sr. serial A-17/1/2010AMT5.30%$0.00$445,000.00sr. serial A-11/1/2011AMT5.30%$0.00$460,000.00sr. serial A-17/1/2011AMT5.35%$0.00$470,000.00sr. serial A-11/1/2012AMT5.35%$0.00$485,000.00sr. serial A-17/1/2012AMT5.40%$0.00$495,000.00sr. serial A-11/1/2013AMT5.40%$0.00$510,000.00sr. serial A-17/1/2013AMT5.45%$0.00$375,000.00sr. serial A-11/1/2014AMT5.45%$0.00$690,000.00sr. serial A-17/1/2014


StatusRateOutstandingAmountTypeDateAMT5.55%$0.00$1,500,000.00sr. term A-11/1/2019AMT5.55%$0.00$4,745,000.00sr. term A-17/1/2019AMT5.65%$0.00$495,000.00sr. term A-17/1/2029AMT5.17%$11,285,000.00$19,370,000.00sr. term A-11/1/2030AMT5.65%$0.00$1,320,000.00sr. term A-17/1/2030AMT3.80%$55,000.00sr. serial A-21/1/2000AMT3.80%$145,000.00sr. serial A-27/1/2000AMT4.05%$155,000.00sr. serial A-21/1/2001AMT4.05%$155,000.00sr. serial A-27/1/2001AMT4.30%$160,000.00sr. serial A-21/1/2002AMT4.30%$160,000.00sr. serial A-27/1/2002AMT4.45%$165,000.00sr. serial A-21/1/2003AMT4.45%$170,000.00sr. serial A-27/1/2003AMT4.55%$170,000.00sr. serial A-21/1/2004AMT4.55%$180,000.00sr. serial A-27/1/2004AMT4.75%$180,000.00sr. serial A-21/1/2005AMT4.75%$180,000.00sr. serial A-27/1/2005AMT4.85%$190,000.00sr. serial A-21/1/2006AMT4.85%$195,000.00sr. serial A-27/1/2006AMT4.95%$195,000.00sr. serial A-21/1/2007AMT4.95%$200,000.00sr. serial A-27/1/2007AMT5.05%$5,000.00$210,000.00sr. serial A-21/1/2008AMT5.05%$5,000.00$210,000.00sr. serial A-27/1/2008AMT5.10%$5,000.00$220,000.00sr. serial A-21/1/2009AMT5.10%$5,000.00$220,000.00sr. serial A-27/1/2009AMT5.20%$5,000.00$230,000.00sr. serial A-21/1/2010AMT5.20%$5,000.00$230,000.00sr. serial A-27/1/2010AMT4.65%$130,000.00$5,080,000.00sr. term A-27/1/2019AMT5.65%$480,592.88$299,200.20Subord. CAB7/1/2031

$11,925,592.88$46,919,200.20TOTAL:

1999-A


6.36%Bayerische Landesbank Girozentrale$572,000.00Debt Service Reserve6.36%Bayerische Landesbank Girozentrale$225,794.05Mortgage Reserve6.21%Bayerische Landesbank Girozentrale$1,465,000.00Redemption FundN/AN/A$131,069.64Rebate



pro-rataprepayments11.41%$1,695,00001/01/07sched. mat.mortg. pymts.0.27%$35,00007/01/07


pro-rataprepayments12.29%$1,465,00001/01/08


CallFundsAmountDatepro-rataunused proceeds$785,00001/01/00pro-rataunused proceeds$615,00007/01/00pro-rataunused proceeds$320,00012/01/00pro-rataunused proceeds$985,00001/01/01pro-rataunused proceeds$1,010,00007/01/01pro-rataunused proceeds$1,870,00001/01/02pro-rataprepayments$1,475,00007/01/02pro-rataprepayments$1,885,00001/01/03pro-rataprepayments$2,720,00007/01/03pro-rataprepayments$3,850,00001/01/04pro-rataprepayments$2,930,00007/01/04pro-rataprepayments$3,385,00001/01/05pro-rataprepayments$2,720,00007/01/05pro-rataprepayments$2,830,00001/01/06pro-rataprepayments$1,750,00007/01/06


Mortgage Program

5.75% / 4.50% FAIR Interest Rate:85%Det. Sgle. Fam:Type Homes -30 yearsTerm:15%Condos:$34,935,670.00Total Mortgages Purchased:0%2-4 Units:349No. Mortgages Purchased:98%Radian:Private Ins. -$10,309,768.35Total Mortg. Outstanding:1%MGIC:124No. Mortgages Outstanding:1%Others:nonePrepayment penalty:



*Conventional loans only have pool insurance with Radian.





0.89%$92,1682.42%$249,2292.87%$295,740


0.81%12.42%32.42%3

2No. Loans Forcl. to Date:RadianPool Insurance Provider:-$57,337Forcl. (Loss)/Gain to Date:$1,743,185Maximum Pool Coverage:




Mortgage Program

98%Det. Sgle. Fam:Type Homes -8.60%Interest Rate:1%Condos:30 yearsTerm:1%2-4 Units:$34,878,308.00Total Mortgages Purchased:46%MGIC:Private Ins. -521No. Mortgages Purchased:3%VEREX:$1,068,573.29Total Mortg. Outstanding:0%Others:27No. Mortgages Outstanding:



NOTE: All 1988-A mortgage loans transferred to the 1999-A issue areinsured under the 1999-A pool insurance policy provided by Radian.





0.00%$039.50%$422,06220.85%$222,796


0.00%018.52%57.41%2

5(1) No. Loans Forcl. to Date:RadianPool Insurance Provider:-$25,213(1) Forcl. (Loss)/Gain to Date:$1,765,000Maximum Pool Coverage:-$70,280Amount of REO Outstanding:$36,877(1) Amt. Pool Claims to Date:

2Number of REO Outstanding:$1,728,123Rem. Pool Coverage:-$155,697Amount at Time of Default:3(1) No. Pool Claims to Date:







Prepayments up to 100% FHA shall be applied to the redemption ofCall Provisions:the 2000 A Bonds pro-rata with the 2032 term bond share used tocall the 2020 term bond first. Prepayments over 100% FHA can beused to purchase new mortgages or to redeem 2000 A Bonds.AmbacBond Insurer:


StatusRateOutstandingAmountTypeDateAMT4.70%$605,000.00sr. serial A-17/1/2003AMT4.75%$640,000.00sr. serial A-17/1/2004AMT4.85%$670,000.00sr. serial A-17/1/2005AMT4.95%$705,000.00sr. serial A-17/1/2006AMT5.05%$740,000.00sr. serial A-17/1/2007AMT5.10%$205,000.00$775,000.00sr. serial A-17/1/2008AMT5.15%$225,000.00$815,000.00sr. serial A-17/1/2009AMT5.20%$235,000.00$860,000.00sr. serial A-17/1/2010AMT5.30%$245,000.00$905,000.00sr. serial A-17/1/2011AMT5.40%$255,000.00$955,000.00sr. serial A-17/1/2012AMT5.50%$265,000.00$1,010,000.00sr. serial A-17/1/2013AMT5.60%$280,000.00$1,060,000.00sr. serial A-17/1/2014AMT5.65%$290,000.00$1,125,000.00sr. serial A-17/1/2015AMT5.90%$1,190,000.00$4,580,000.00sr. term A-17/1/2020AMT5.45%$4,425,000.00$24,200,000.00sr. term A-17/1/2032AMT6.00%$2,950,000.00$3,855,000.00sr. term A-17/1/2032AMT4.50%$200,000.00sr. serial A-27/1/2001AMT4.65%$265,000.00sr. serial A-27/1/2002AMT4.70%$275,000.00sr. serial A-27/1/2003AMT4.75%$290,000.00sr. serial A-27/1/2004AMT4.85%$300,000.00sr. serial A-27/1/2005AMT4.95%$320,000.00sr. serial A-27/1/2006AMT5.05%$335,000.00sr. serial A-27/1/2007AMT5.10%$85,000.00$350,000.00sr. serial A-27/1/2008AMT5.15%$95,000.00$370,000.00sr. serial A-27/1/2009AMT5.20%$80,000.00$335,000.00sr. serial A-27/1/2010AMT5.30%$80,000.00$350,000.00sr. serial A-27/1/2011AMT5.40%$75,000.00$370,000.00sr. serial A-27/1/2012


StatusRateOutstandingAmountTypeDateAMT5.50%$75,000.00$375,000.00sr. serial A-27/1/2013AMT5.60%$95,000.00$405,000.00sr. serial A-27/1/2014AMT5.65%$95,000.00$425,000.00sr. serial A-27/1/2015AMT4.69%$75,000.00$3,000,000.00sr. term A-21/1/2020AMT5.31%$6,025,000.00$10,000,000.00sr. term A-37/1/2032AMT5.06%$475,000.00$3,000,000.00sr. term A-47/1/2032AMT6.00%$112,901.75$49,536.50Subord. CAB7/1/2032

$17,932,901.75$64,514,536.50TOTAL:

2000-A


6.74%AIG Matched Funding Corp.$945,843.64Debt Service Reserve6.59%AIG Matched Funding Corp.$255,119.62Mortgage Reserve6.30%Bayerische Landesbank Girozentrale$2,599.69Redemption FundN/AN/A$230,258.12Rebate


CallFundsOut. BondsAmountDatesinking fundmortg. pymts.0.31%$70,00001/01/07


sinking fundmortg. pymts.0.33%$65,00007/01/07pro-rataprepayments7.75%$1,540,00007/01/07



CallFundsAmountDatepro-rataprepayments$1,115,00007/01/01pro-rataprepayments$1,730,00001/01/02pro-rataprepayments$1,645,00007/01/02pro-rataprepayments$2,285,00011/15/02pro-rataprepayments$1,980,00001/01/03pro-rataprepayments$3,130,00007/01/03pro-rataprepayments$4,910,00001/01/04

sinking fundmortg. pymts.$100,00007/01/04pro-rataprepayments$5,830,00007/01/04






Mortgage Program

6.50%, 6.25%, 6.00% / 5.00% FAIR Interest Rate:69%Det. Sgle. Fam:Type Homes -30 yearsTerm:30%Condos:$47,541,787.00Total Mortgages Purchased: 1%2-4 Units:477No. Mortgages Purchased:0%Radian:Private Ins. -$14,161,809.41Total Mortg. Outstanding:0%MGIC:168No. Mortgages Outstanding:0%Others:nonePrepayment penalty:


9%Conv. w/o PMI:38%Conv. w/ PMI:Insurance Type of45%FHA: 7%VA:Original Portfolio: *

1% RHS:*Conventional loans only have pool insurance with Radian





0.00%$06.41%$907,6663.07%$434,881


0.00%06.55%112.98%5

3No. Loans Forcl. to Date:RadianPool Insurance Provider:-$29,122Forcl. (Loss)/Gain to Date:$2,092,066Maximum Pool Coverage:



2000-A/1988-B1988-B outstanding mortgage loans transferred to 2000-A.

Mortgage Program





NOTE: All 1988-B mortgage loans transferred to the 2000-A issue areinsured under the 2000-A pool insurance policy provided by Radian.


Out. LoansPaid Off Loansof LoansPeriod4.45%$53,227.261Jan 1 - Mar 313.24%$36,205.132Apr 1 - Jun 300.00%$0.000Jul 1 - Sep 307.74%$80,817.482Oct 1 - Dec 31



0.00%$015.64%$147,0880.00%


0.00%011.54%30.00%

0(1) No. Loans Forcl. to Date:RadianPool Insurance Provider:$0(1) Forcl. (Loss)/Gain to Date:$2,092,066Maximum Pool Coverage:$0Amount of REO Outstanding:$0(1) Amt. Pool Claims to Date:

0Number of REO Outstanding:$2,092,066Rem. Pool Coverage:$0Amount at Time of Default:0(1) No. Pool Claims to Date:





new rating occurred on 7/11/06Aa2Current Rating:$28,985,000.00Amount Issued:$11,820,000.00Amount Outstanding:

Prepayments up to 100% FHA shall be applied to the redemption ofCall Provisions:the 2001 A Bonds pro-rata with the 2033 term bond share used tocall the 2021 term bond first. Prepayments over 100% FHA can beused to purchase new mortgages or to redeem 2001 A Bonds.AmbacBond Insurer:


StatusRateOutstandingAmountTypeDateAMT3.00%$310,000.00sr. serial A-17/1/2004AMT3.25%$320,000.00sr. serial A-17/1/2005AMT3.50%$335,000.00sr. serial A-17/1/2006AMT3.80%$345,000.00sr. serial A-17/1/2007AMT4.00%$45,000.00$370,000.00sr. serial A-17/1/2008AMT4.15%$55,000.00$385,000.00sr. serial A-17/1/2009AMT4.25%$50,000.00$400,000.00sr. serial A-17/1/2010AMT4.40%$55,000.00$420,000.00sr. serial A-17/1/2011AMT4.55%$55,000.00$440,000.00sr. serial A-17/1/2012AMT4.70%$50,000.00$460,000.00sr. serial A-17/1/2013AMT5.25%$655,000.00$4,685,000.00sr. term A-17/1/2021AMT4.73%$9,190,000.00$11,415,000.00sr. term A-11/1/2033AMT5.375%$80,000.00$115,000.00sr. term A-17/1/2033AMT2.40%$190,000.00sr. serial A-27/1/2002AMT2.60%$380,000.00sr. serial A-27/1/2003AMT3.00%$390,000.00sr. serial A-27/1/2004AMT3.25%$400,000.00sr. serial A-27/1/2005AMT3.50%$415,000.00sr. serial A-27/1/2006AMT3.80%$425,000.00sr. serial A-27/1/2007AMT4.00%$110,000.00$445,000.00sr. serial A-27/1/2008AMT4.15%$110,000.00$460,000.00sr. serial A-27/1/2009AMT4.25%$110,000.00$480,000.00sr. serial A-27/1/2010AMT4.40%$115,000.00$500,000.00sr. serial A-27/1/2011AMT4.55%$115,000.00$520,000.00sr. serial A-27/1/2012AMT4.70%$115,000.00$545,000.00sr. serial A-27/1/2013AMT3.95%$910,000.00$3,835,000.00sr. term A-27/1/2019

$11,820,000.00$28,985,000.00TOTAL:

2001-A


5.36%Trinity Plus Funding Co., LLC$591,000.00Debt Service Reserve5.36%Trinity Plus Funding Co., LLC$182,665.01Mortgage Reserve4.93%Trinity Plus Funding Co., LLC$1,342,640.81Redemption Fund


CallFundsOut. BondsAmountDatepro-rataprepayments4.77%$620,00001/01/07

sched. mat.mortg. pymts.1.25%$155,00007/01/07pro-rataprepayments3.31%$410,00007/01/07pro-rataprepayments9.52%$1,125,00001/01/08


CallFundsAmountDatepro-rataprepayments$1,790,00007/01/02pro-rataprepayments$265,00001/01/03pro-rataprepayments$1,580,00007/01/03pro-rataprepayments$1,755,00001/01/04pro-rataprepayments$2,400,00007/01/04pro-rataprepayments$2,415,00001/01/05pro-rataprepayments$1,790,00007/01/05pro-rataprepayments$1,440,00001/01/06pro-rataprepayments$1,040,00007/01/06


Mortgage Program

5.25% / 5.75% Assisted Loans Interest Rate:93%Det. Sgle. Fam:Type Homes -30 yearsTerm:6%Condos:$16,406,642.74Total Mortgages Purchased:1%2-4 Units:149No. Mortgages Purchased:0%Radian:Private Ins. -$7,016,765.82Total Mortg. Outstanding:0%MGIC:69No. Mortgages Outstanding:0%Others:nonePrepayment penalty:

of original portfolio.29%New Construction: of original portfolio.71%Existing Homes:

3%Conv. w/o PMI:32%Conv. w/ PMI:Insurance Type of55%FHA: 9%VA:Original Portfolio:*

1% RHS:*Conventional loans only have pool insurance with Radian


Out. LoansPaid Off Loansof LoansPeriod2.20%$186,373.282Jan 1 - Mar 310.00%$0.000Apr 1 - Jun 307.85%$641,159.986Jul 1 - Sep 305.74%$429,660.504Oct 1 - Dec 31



0.00%$09.08%$636,9891.19%$83,734


0.00%08.70%61.45%1

1No. Loans Forcl. to Date:UGICPool Insurance Provider:-$5,441Forcl. (Loss)/Gain to Date:$1,159,400Maximum Pool Coverage:




Mortgage Program

94%Det. Sgle. Fam:Type Homes -8.45% / 6.25% FAIRInterest Rate:6%Condos:30 yearsTerm:0%2-4 Units:$39,744,128.00Total Mortgages Purchased:

34%CMAC:Private Ins. -565No. Mortgages Purchased:8%MGIC:$1,728,678.19Total Mortg. Outstanding:1%Others:40No. Mortgages Outstanding:


of original portfolio.74%Existing Homes:12%Conv. w/o PMI:43%Conv. w/ PMI:Insurance Type of40%FHA:5%VA:Original Portfolio:*

*Only conventional loans have pool insurance with CMAC.


Out. LoansPaid Off Loansof LoansPeriod0.00%$0.000Jan 1 - Mar 310.00%$0.000Apr 1 - Jun 304.93%$97,192.202Jul 1 - Sep 305.09%$92,483.043Oct 1 - Dec 31



0.00%$026.05%$450,2704.99%$86,296


0.00%010.00%42.50%1

1(1) No. Loans Forcl. to Date:UGICPool Insurance Provider:-$5,441(1) Forcl. (Loss)/Gain to Date:$1,159,400Maximum Pool Coverage:

$0Amount of REO Outstanding:$0(1) Amt. Pool Claims to Date:0Number of REO Outstanding:$1,159,400Rem. Pool Coverage:






Pro-RataCall Provisions:

Financial Security Assurance, Inc.Bond Insurer:


StatusRateOutstandingAmountTypeDateAMT2.50%$335,000.00sr. serial1/1/2004AMT3.10%$345,000.00sr. serial1/1/2005AMT3.45%$355,000.00sr. serial1/1/2006AMT3.85%$365,000.00sr. serial1/1/2007AMT4.10%$110,000.00$380,000.00sr. serial1/1/2008AMT4.35%$120,000.00$395,000.00sr. serial1/1/2009AMT4.45%$125,000.00$415,000.00sr. serial1/1/2010AMT4.55%$125,000.00$430,000.00sr. serial1/1/2011AMT4.65%$130,000.00$450,000.00sr. serial1/1/2012AMT4.80%$125,000.00$470,000.00sr. serial1/1/2013AMT5.375%$1,170,000.00$3,950,000.00sr. term7/1/2022AMT6.70%$1,150,000.00$4,000,000.00Prem. PACs *1/1/2033AMT4.180%$1,730,000.00$2,250,000.00PACs *7/1/2033AMT5.40%$1,365,000.00$4,610,000.00sr. term7/1/2033AMT5.40%$700,000.00$4,000,000.00sr. term1/1/2034

$6,850,000.00$22,750,000.00TOTAL:

* Planned Amortization Class bonds (PACs).

2002-A


5.30%Trinity Plus Funding Co., LLC$337,000.00Debt Service Reserve5.30%Trinity Plus Funding Co., LLC$115,557.34Mortgage Reserve5.153%Trinity Plus Funding Co., LLC$625,599.17Redemption Fund



pro-rataprepayments9.64%$795,00001/01/07pro-rataprepayments6.55%$480,00007/01/07

sched. mat.mortg. pymts.1.61%$110,00001/01/08pro-rataprepayments8.03%$550,00001/01/08


CallFundsAmountDate2033 Maturityprepayments$95,00007/01/03

pro-rataprepayments$3,685,000 01/01/04*pro-rataprepayments$2,835,00007/01/04pro-rataprepayments$2,300,00001/01/05pro-rataprepayments$1,580,00007/01/05pro-rataprepayments$2,000,00001/01/06pro-rataprepayments$1,275,00007/01/06

* $20,800.00 premium (8%) paid on call on 1/1/2033 Premium PAC Term Bonds.


Mortgage Program

5.25% / 5.75% Assisted Loans Interest Rate:94%Det. Sgle. Fam:Type Homes -30 yearsTerm:5%Condos:$19,110,739.09Total Mortgages Purchased:1%2-4 Units:183No. Mortgages Purchased:0%Radian:Private Ins. -$5,590,251.57Total Mortg. Outstanding:0%MGIC:59No. Mortgages Outstanding:0%Others:nonePrepayment penalty:

of original portfolio27%New Construction:of original portfolio73%Existing Homes:


1% RHS:*Conventional loans only have pool insurance with UGIC.





0.00%$05.28%$295,0873.56%$198,954


0.00%05.08%33.39%2

0No. Loans Forcl. to Date:UGICPool Insurance Provider:$0Forcl. (Loss)/Gain to Date:$800,000Maximun Pool Coverage:$0Amount of REO Outstanding:$0Amt. Pool Claims to Date:0Number of REO Outstanding:$800,000Rem. Pool Coverage:





new rating occurred on 7/11/06Aa2Current Rating:$30,000,000.00Amount Issued:

$7,450,000.00Amount Outstanding:Pro-RataCall Provisions:



StatusRateOutstandingAmountTypeDateAMT2.70%$405,000.00sr. serial7/1/2004AMT3.15%$395,000.00sr. serial7/1/2005AMT3.45%$425,000.00sr. serial7/1/2006AMT3.80%$445,000.00sr. serial7/1/2007AMT4.05%$0.00$355,000.00sr. serial7/1/2008AMT4.25%$5,000.00$375,000.00sr. serial7/1/2009AMT4.40%$5,000.00$395,000.00sr. serial7/1/2010AMT4.50%$5,000.00$410,000.00sr. serial7/1/2011AMT4.65%$5,000.00$450,000.00sr. serial7/1/2012AMT4.75%$5,000.00$475,000.00sr. serial7/1/2013AMT5.40%$45,000.00$5,620,000.00sr. term7/1/2022AMT5.45%$20,000.00$2,600,000.00sr. term7/1/2027AMT6.63%$3,460,000.00$7,500,000.00Prem PACs (1) *7/1/2032AMT4.71%$3,860,000.00$5,000,000.00PACs *1/1/2033AMT5.82%$40,000.00$5,150,000.00PACs (2) *7/1/2033

$7,450,000.00$30,000,000.00TOTAL:

* Planned Amortization Class bonds (PACs).(1) 4.00% per annum until July 1, 2003 and 6.63% per annum thereafter.(2) 4.00% per annum until July 1, 2003 and 5.82% per annum thereafter.

2002-B

Float Funds are held by Natixis Funding Corp. at a 4.81% rate.

No Reserve Funds are required for this bond issue.


CallFundsOut. BondsAmountDatepro-rataprepayments13.38%$1,290,00001/01/07pro-rataprepayments10.78%$900,00007/01/07pro-rataprepayments0.40%$30,00001/01/08pro-rataprepayments10.20%$760,00001/01/08


CallFundsAmountDatepro-rataunused proceeds$3,595,00008/01/03pro-rataunused proceeds$660,000 12/01/03*pro-rataprepayments$3,320,00003/15/04pro-rataprepayments$2,100,00007/01/04pro-rataprepayments$2,905,00001/01/05pro-rataprepayments$2,635,00007/01/05pro-rataprepayments$2,210,00001/01/06pro-rataprepayments$2,460,00007/01/06

* $14,800.00 premium (8%) paid on call on 7/1/2032 Premium PAC Term Bonds.

2002-BNew Mortgage Backed Securities (MBS) Money

Mortgage Program

Mortgage Backed Securities are provided by FNMA and GNMA

6.07% - 6.82%Mtg Interest Rate: 5.57% - 6.32%MBS Interest Rate:30 yearsTerm:

$25,880,243.70Total Mortgage Backed Securities Purchased:45No. of Mortgage Backed Securities Purchased:

$6,560,156.21Total Mortgage Backed Securities Outstanding:29No. of Mortgage Backed Securities Outstanding:

Quarterly MBS Principal Reductions for 2007

% of Prev. Quart.Amount of Addt'lOut. MBSPrincipal PaidPeriod

7.31%$600,772.77Jan 1 - Mar 313.40%$257,529.85Apr 1 - Jun 305.37%$391,479.14Jul 1 - Sep 304.06%$279,180.38Oct 1 - Dec 31

$18,156,365.32Total Additional Principal Paid to Date:



BOND ISSUE: 2003 Series A02/18/032003A-1ADate of Issue:02/18/032003A-1B03/04/032003A-2A03/06/032003A-3A03/06/032003A-3B03/18/032003A-4A03/18/032003A-4B06/04/032003A-5A06/26/032003A-6A06/26/032003A-6B09/03/032003A-7A09/03/032003A-7B10/07/032003A-8B11/24/032003A-9A


Applicable Sub-SeriesCall Provisions:


StatusRateOutstandingAmountTypeDateNon-AMT5.75%$0.00$974,550.00term - 1A10/1/2035Non-AMT5.15%$531,849.63$855,427.00term - 1B10/1/2035Non-AMT6.00%$1,129,433.63$1,961,505.00term - 2A10/1/2035Non-AMT5.90%$702,379.28$2,469,622.00term - 3A10/1/2035Non-AMT5.30%$578,781.35$1,261,934.00term - 3B10/1/2035Non-AMT5.85%$623,734.53$2,644,507.00term - 4A10/1/2035Non-AMT5.25%$843,926.25$1,805,291.00term - 4B10/1/2035Non-AMT5.75%$934,807.00$2,495,525.00term - 5A10/1/2035Non-AMT5.60%$781,816.00$3,517,085.00term - 6A10/1/2035Non-AMT5.00%$742,650.00$895,669.00term - 6B10/1/2035Non-AMT5.57%$827,256.00$2,446,526.00term - 7A10/1/2035Non-AMT4.97%$1,027,206.00$1,481,746.00term - 7B10/1/2035Non-AMT4.65%$1,337,933.00$2,125,401.00term - 8B10/1/2035Non-AMT5.45%$508,066.00$1,560,069.00term - 9A10/1/2035

$10,569,838.67$26,494,857.00TOTAL:

5.55%

7.94%

5.53%

3.30%

2003-A



CallFundsOut. BondsAmountDate1A - 9Aprepayments$343,808.0001/01/071A - 9Aprepayments$126,723.0002/01/071A - 9Aprepayments$223,008.0003/01/071A - 9Aprepayments$601,132.6404/01/071B - 9Aprepayments$107,183.0005/01/071B - 9Aprepayments$209,938.0006/01/071B - 9Aprepayments$311,318.0007/01/071B - 9Aprepayments$106,858.0008/01/071B - 9Aprepayments$221,590.0009/01/071B - 9Aprepayments$122,522.0010/01/071B - 9Aprepayments$17,729.0011/01/071B - 9Aprepayments$220,793.0012/01/071B - 9Aprepayments$18,663.0001/01/08


CallFundsAmountDate1A-9Aprepayments$267,728.0420031A-9Aprepayments$4,388,881.6520041A-9Aprepayments$5,762,327.0020051A-9Aprepayments$2,893,479.002006

2003-A - 1ANew Mortgage Backed Securities (MBS) Money

Mortgage Program


6.28%Mtg. Interest Rate:5.78%MBS Interest Rate:30 yearsTerm:

$974,550.00Total Mortgage Backed Securities Purchased:3No. of Mortgage Backed Securities Purchased:

$0.00Total Mortgage Backed Securities Outstanding:0No. of Mortgage Backed Securities Outstanding:



99.61%$119,027.60Jan 1 - Mar 31Apr 1 - Jun 30Jul 1 - Sep 30Oct 1 - Dec 31

$945,134.36Total Additional Principal Paid to Date:

2003-A - 1BNew Mortgage Backed Securities (MBS) Money

Mortgage Program




$634,693.13Total Mortgage Backed Securities Outstanding:3No. of Mortgage Backed Securities Outstanding:



0.07%$602.52Jan 1 - Mar 3111.25%$95,484.84Apr 1 - Jun 3014.28%$106,973.48Jul 1 - Sep 300.10%$610.27Oct 1 - Dec 31



Mortgage Program







0.03%$375.82Jan 1 - Mar 310.03%$371.16Apr 1 - Jun 300.02%$230.43Jul 1 - Sep 300.06%$664.35Oct 1 - Dec 31



Mortgage Program







9.85%$103,163.57Jan 1 - Mar 3121.61%$203,102.44Apr 1 - Jun 300.05%$331.58Jul 1 - Sep 300.03%$201.02Oct 1 - Dec 31



Mortgage Program










Mortgage Program










Mortgage Program







25.75%$321,205.35Jan 1 - Mar 310.02%$216.57Apr 1 - Jun 300.00%$21.57Jul 1 - Sep 300.00%$3.24Oct 1 - Dec 31



Mortgage Program







9.67%$114,482.06Jan 1 - Mar 310.04%$475.84Apr 1 - Jun 30

10.06%$106,723.38Jul 1 - Sep 300.04%$409.69Oct 1 - Dec 31



Mortgage Program







0.04%$440.71Jan 1 - Mar 310.01%$110.24Apr 1 - Jun 307.29%$78,115.39Jul 1 - Sep 30

20.64%$204,053.00Oct 1 - Dec 31



Mortgage Program



$969,029.00Total Mortgage Backed Securities Purchased:2No. of Mortgage Backed Securities Purchased:




0.02%$155.64Jan 1 - Mar 3110.20%$92,537.55Apr 1 - Jun 300.04%$355.73Jul 1 - Sep 300.08%$656.03Oct 1 - Dec 31



Mortgage Program







0.01%$68.44Jan 1 - Mar 3110.37%$111,869.44Apr 1 - Jun 3012.99%$125,073.80Jul 1 - Sep 300.00%$18.31Oct 1 - Dec 31



Mortgage Program










Mortgage Program










Mortgage Program







13.36%$80,174.38Jan 1 - Mar 310.00%$8.61Apr 1 - Jun 300.01%$37.02Jul 1 - Sep 300.00%$0.00Oct 1 - Dec 31


transferred to the Authority as a result of this refunding.transferred to the 2003-B issue with the exception of 374 loans totaling $12,288,534.64 which wereissues (including the 1979-A loans that were refunded by the 1993-A issue on 11/18/93) were1989-B, 1990-A, 1991-A, 1991-B and the 1993-A bonds. The outstanding mortgage loans in theseThe 2003-B bonds were issued on 12/4/03 to fully refund the 1989-A-subordinated bonds and the

Reserve Fund Information





Prepayments of the transferred mortgage loans shall be appliedCall Provisions:77.13% to the redemption of the B-1 bonds, applied first to the2012 term bonds, then to the 2025 premium term bonds. Theremaining 22.87% shall be applied to the redemption of the B-2term bonds.


StatusRateOutstandingAmountTypeDateAMT2.00%$0.00$7,710,000.00B-1 Term1/1/2012AMT5.20%$12,120,000.00$18,875,000.00B-1 Premium Term7/1/2025

Taxable4.00%$2,260,000.00$5,650,000.00B-2 Term7/1/2020

$14,380,000.00$32,235,000.00TOTAL:

RateHolderBalanceName2.02%Grand Central Funding, Inc.$0.00Mortgage Loan Purchase4.50%Societe Generale$715,750.00Debt Service Reserve4.50%Societe Generale$216,673.98Mortgage Reserve3.50%AIG Matched Funding Corp.$1,416,341.39Redemption Fund3.50%AIG Matched Funding Corp.$0.00Optional Redemption Fund

2003-B


CallFundsOut. BondsAmountDatesinking fundmortg. pymts.0.47%$80,00001/01/07

pro-rataprepayments8.99%$1,535,00001/01/072025 mat.non-origination0.36%$55,000 *05/01/07

sinking fundmortg. pymts.0.42%$65,00007/01/07pro-rataprepayments6.26%$965,00007/01/07


* $3,300.00 premium paid on call on 7/1/2025 Premium Term Bonds.


CallFundsAmountDatesinking fundmortg. pymts.$570,00007/01/04

2012 & 2020 mat.prepayments$2,730,00007/01/04sinking fundmortg. pymts.$450,00001/01/05

2012 & 2020 mat.prepayments$4,065,00001/01/05sinking fundmortg. pymts.$170,00007/01/05

pro-rataprepayments$2,385,00007/01/05sinking fundmortg. pymts.$75,00001/01/06

pro-rataprepayments$2,245,00001/01/06sinking fundmortg. pymts.$75,00007/01/06

pro-rataprepayments$2,390,00007/01/06

2003-B/1993-A/1979-A1979-A outstanding mortgage loans transferred to 1993-A, then to 2003-B

Mortgage Program



1% for the first 5 years on conventional loans onlyPrepayment penalty:of original portfolio.13%New Construction:of original portfolio.87%Existing Homes:


*Only conventional loans have pool insurance with Radian


Out. LoansPaid Off Loansof LoansPeriod0.00%$0.000Jan 1 - Mar 310.00%$0.000Apr 1 - Jun 300.00%$0.000Jul 1 - Sep 300.00%$0.000Oct 1 - Dec 31



0.00%$00.00%$00.00%$0


0.00%00.00%00.00%0

Foreclosure Information (1)

0No. Loans Forcl. to Date:N/APool Insurance Provider:$0Forcl. (Loss)/Gain to Date:N/AMaximum Pool Coverage:$0Amount of REO Outstanding:N/AAmt. Pool Claims to Date:

0Number of REO Outstanding:N/ARem. Pool Coverage:$0Amount at Time of Default:N/ANo. Pool Claims to Date:

(1) Starting with the date that the mortgage loans were transferred to the 2003-B issue - 12/4/03

2003-B/1989-A-Sub1989-A-Sub outstanding mortgage loans transferred to 2003-B

Mortgage Program


34%CMAC:Private Ins. -565No. Mortgages Purchased:8%MGIC:$184,478.32Total Mortg. Outstanding:1%Others:6No. Mortgages Outstanding:

NonePrepayment penalty:of original portfolio.26%New Construction:of original portfolio.74%Existing Homes:


*Only conventional loans have pool insurance with CMAC


Out. LoansPaid Off Loansof LoansPeriod0.00%$0.000Jan 1 - Mar 310.00%$0.000Apr 1 - Jun 300.00%$0.000Jul 1 - Sep 30

33.57%$96,560.332Oct 1 - Dec 31



0.00%$023.06%$42,5380.00%$0


0.00%016.67%10.00%0


0(1) No. Loans Forcl. to Date:N/APool Insurance Provider:$0(1) Forcl. (Loss)/Gain to Date:N/AMaximum Pool Coverage:$0Amount of REO Outstanding:N/A(1) Amt. Pool Claims to Date:



2003-B/1989-B1989-B outstanding mortgage loans transferred to 2003-B

Mortgage Program










5.85%$77,4880.00%$04.61%$61,021


6.25%20.00%03.13%1





2003-B/1990-A1990-A outstanding mortgage loans transferred to 2003-B

Mortgage Program







Out. LoansPaid Off Loansof LoansPeriod0.00%$0.000Jan 1 - Mar 312.78%$40,123.621Apr 1 - Jun 303.60%$49,855.751Jul 1 - Sep 307.71%$101,629.082Oct 1 - Dec 31



25.05%$301,0164.03%$48,3767.87%$94,601


19.23%53.85%17.69%2






Mortgage Program










13.14%$278,6870.00%$01.97%$41,801


10.87%50.00%02.17%1





2003-B/1991-B1991-B outstanding mortgage loans transferred to 2003-B

Mortgage Program







Out. LoansPaid Off Loansof LoansPeriod0.00%$0.000Jan 1 - Mar 315.30%$107,880.412Apr 1 - Jun 300.00%$0.000Jul 1 - Sep 302.41%$45,645.341Oct 1 - Dec 31



6.41%$117,2530.00%$06.66%$121,792


5.56%20.00%02.78%1






Mortgage Program


24%CMAC:Private Ins. -227No. Mortgages Purchased:7%MGIC:$3,802,416.36Total Mortg. Outstanding:

17%Others:57No. Mortgages Outstanding:NonePrepayment penalty:

of original portfolio.37%New Construction:of original portfolio.63%Existing Homes:







2.42%$92,1480.00%$03.23%$122,906


1.75%10.00%03.51%2


2(1) No. Loans Forcl. to Date:N/APool Insurance Provider:-$38,120(1) Forcl. (Loss)/Gain to Date:N/AMaximum Pool Coverage:

$0Amount of REO Outstanding:N/A(1) Amt. Pool Claims to Date:0Number of REO Outstanding:N/ARem. Pool Coverage:

$0Amount at Time of Default:N/ANo. Pool Claims to Date:




BOND ISSUE: 2004 Series A03/04/042004A-1ADate of Issue:03/04/042004A-1B06/10/042004A-2A06/10/042004A-2B09/08/042004A-3A09/08/042004A-3B10/13/042004A-4A10/13/042004A-4B12/01/042004A-5A12/01/042004A-5B02/10/052004A-6A02/10/052004A-6B05/17/052004A-7A05/17/052004A-7B


Applicable Sub-SeriesCall Provisions:


StatusRateOutstandingAmountTypeDateNon-AMT5.45%$1,556,258.00$3,379,252.00term - 1A10/1/2036Non-AMT4.85%$3,870,729.00$5,062,651.00term - 1B10/1/2036Non-AMT5.50%$2,515,230.00$5,205,964.00term - 2A10/1/2036Non-AMT4.90%$851,551.00$1,524,332.00term - 2B10/1/2036Non-AMT5.20%$2,703,082.00$4,563,549.00term - 3A10/1/2036Non-AMT4.60%$2,671,569.00$3,246,829.00term - 3B10/1/2036Non-AMT5.65%$3,170,794.00$6,678,447.00term - 4A10/1/2036Non-AMT5.05%$2,657,896.00$3,885,358.00term - 4B10/1/2036Non-AMT5.75%$4,178,829.00$8,670,213.00term - 5A10/1/2036Non-AMT5.15%$2,054,455.00$2,515,316.00term - 5B10/1/2036Non-AMT5.50%$3,958,630.00$8,070,481.00term - 6A10/1/2036Non-AMT4.90%$2,492,126.00$2,607,480.00term - 6B10/1/2036Non-AMT5.40%$2,082,206.00$3,318,358.00term - 7A10/1/2036Non-AMT4.80%$878,443.00$1,269,690.00term - 7B10/1/2036

$35,641,798.00$59,997,920.00TOTAL:

3.87%

4.04%

4.27%

5.29%

2004-A



CallFundsOut. BondsAmountDate1A - 7Bprepayments$672,943.0001/01/071A - 7Bprepayments$528,251.0002/01/071A - 7Bprepayments$382,128.0003/01/071A - 7Bprepayments$465,711.0004/01/071A - 7Bprepayments$647,861.0005/01/071A - 7Bprepayments$474,664.0006/01/071A - 7Bprepayments$750,197.0007/01/071A - 7Bprepayments$304,611.0008/01/071A - 7Bprepayments$625,137.0009/01/071A - 7Bprepayments$1,003,692.0010/01/071A - 7Bprepayments$477,283.0011/01/071A - 7Bprepayments$511,004.0012/01/071A - 7Bprepayments$501,038.0001/01/08


CallFundsAmountDate1A - 4Bprepayments$684,018.0020041A - 7Bprepayments$8,719,669.0020051A - 7Bprepayments$8,108,953.002006


Mortgage Program







5.14%$90,525.39Jan 1 - Mar 310.02%$309.38Apr 1 - Jun 305.43%$90,085.23Jul 1 - Sep 305.64%$88,042.98Oct 1 - Dec 31



Mortgage Program










Mortgage Program







0.02%$587.11Jan 1 - Mar 316.43%$190,865.89Apr 1 - Jun 305.12%$141,616.01Jul 1 - Sep 303.49%$91,311.54Oct 1 - Dec 31



Mortgage Program







7.41%$91,951.03Jan 1 - Mar 310.00%$43.25Apr 1 - Jun 30

19.38%$220,808.13Jul 1 - Sep 300.00%$4.89Oct 1 - Dec 31



Mortgage Program


5.95%, 6.25%Mtg. Interest Rate:5.45%, 5.50%MBS Interest Rate:30 yearsTerm:








Mortgage Program







0.03%$812.71Jan 1 - Mar 310.04%$1,037.42Apr 1 - Jun 300.01%$400.42Jul 1 - Sep 302.31%$66,874.71Oct 1 - Dec 31



Mortgage Program










Mortgage Program










Mortgage Program







7.99%$392,121.37Jan 1 - Mar 312.84%$127,806.07Apr 1 - Jun 300.01%$277.17Jul 1 - Sep 303.38%$146,795.18Oct 1 - Dec 31



Mortgage Program










Mortgage Program










Mortgage Program










Mortgage Program







0.01%$287.80Jan 1 - Mar 315.02%$127,644.91Apr 1 - Jun 300.01%$205.72Jul 1 - Sep 30

12.79%$306,645.94Oct 1 - Dec 31



Mortgage Program


5.00%, 5.25%Mtg. Interest Rate:4.50%MBS Interest Rate:30 yearsTerm:





0.03%$392.54Jan 1 - Mar 310.03%$312.35Apr 1 - Jun 30

19.43%$234,598.36Jul 1 - Sep 300.02%$176.40Oct 1 - Dec 31






Prepayments shall be applied to the redemption of the Prem PAC TermCall Provisions:Bonds first, then to all remaining 2005A Bonds on a pro-rata basis.



StatusRateOutstandingAmountTypeDateAMT2.90%$275,000.00sr. serial7/1/2006AMT3.10%$285,000.00sr. serial1/1/2007AMT3.20%$290,000.00sr. serial7/1/2007AMT3.40%$275,000.00$295,000.00sr. serial1/1/2008AMT3.45%$280,000.00$300,000.00sr. serial7/1/2008AMT3.60%$285,000.00$305,000.00sr. serial1/1/2009AMT3.70%$290,000.00$310,000.00sr. serial7/1/2009AMT3.80%$295,000.00$315,000.00sr. serial1/1/2010AMT3.85%$300,000.00$320,000.00sr. serial7/1/2010AMT4.00%$310,000.00$330,000.00sr. serial1/1/2011AMT4.05%$310,000.00$330,000.00sr. serial7/1/2011AMT4.20%$320,000.00$340,000.00sr. serial1/1/2012AMT4.20%$320,000.00$340,000.00sr. serial7/1/2012AMT4.30%$325,000.00$345,000.00sr. serial1/1/2013AMT4.30%$335,000.00$355,000.00sr. serial7/1/2013AMT4.40%$345,000.00$365,000.00sr. serial1/1/2014AMT4.40%$350,000.00$370,000.00sr. serial7/1/2014AMT4.50%$355,000.00$380,000.00sr. serial1/1/2015AMT4.50%$365,000.00$390,000.00sr. serial7/1/2015AMT4.55%$375,000.00$400,000.00sr. serial1/1/2016AMT4.55%$380,000.00$405,000.00sr. serial7/1/2016AMT4.60%$395,000.00$420,000.00sr. serial1/1/2017AMT4.60%$400,000.00$425,000.00sr. serial7/1/2017AMT4.70%$695,000.00$750,000.00sr. term7/1/2021AMT4.80%$95,000.00$100,000.00sr. term7/1/2025

2005-A

InterestAmountOriginal MaturityStatusRateOutstandingAmountTypeDateAMT4.90%$50,000.00$55,000.00sr. term1/1/2030AMT4.80%$13,705,000.00$14,625,000.00sr. term7/1/2030AMT5.80%$21,240,000.00$23,720,000.00Prem PACs *7/1/2035AMT4.90%$12,045,000.00$12,860,000.00sr. term7/1/2036

$54,440,000.00$60,000,000.00TOTAL:


Fund InformationRateHolderBalanceName

3.45%Pallas Capital Corp.$0.00Mortgage Loan Purchase3.45%Pallas Capital Corp.$0.00Capitalized Interest

Float Funds are held by Pallas Capital Corp. at a 4.25% rate.No Reserve Funds are required for this bond issue.


CallFundsOut. BondsAmountDatesched. mat.mortg. pymts.0.48%$285,00001/01/07sinking fundmortg. pymts.0.26%$155,00001/01/07

pro-rataprepayments1.29%$765,00001/01/07sched. mat.mortg. pymts.0.50%$290,00007/01/07sinking fundmortg. pymts.0.28%$160,00007/01/07

pro-rataprepayments5.39%$3,130,00007/01/07sched. mat.mortg. pymts.0.51%$275,00001/01/08sinking fundmortg. pymts.0.28%$155,00001/01/08



CallFundsAmountDatepro-rataunused proceeds$70,00005/01/06*

sinking fundmortg. pymts.$155,00007/01/062035 mat.prepayments$275,00007/01/06

* $3,112.00 premium paid on call on 7/1/2035 Premium PAC Term Bonds.

2005-ANew Mortgage Backed Securities (MBS) Money

Mortgage Program


5.30% - 6.40%Mtg Interest Rate:4.80% - 5.65%MBS Interest Rate:30 yearsTerm:





3.15%$1,868,215.38Jan 1 - Mar 312.03%$1,162,463.01Apr 1 - Jun 303.05%$1,704,246.68Jul 1 - Sep 302.16%$1,163,836.09Oct 1 - Dec 31






Prepayments shall be applied to the redemption of the Prem PAC TermCall Provisions:Bonds first, then to all remaining 2006A Bonds on a pro-rata basis.

Ambac Assurance CorporationBond Insurer:


StatusRateOutstandingAmountTypeDateAMT3.30%$250,000.00sr. serial1/1/2007AMT3.40%$255,000.00sr. serial7/1/2007AMT3.45%$260,000.00$260,000.00sr. serial1/1/2008AMT3.50%$265,000.00$265,000.00sr. serial7/1/2008AMT3.55%$270,000.00$270,000.00sr. serial1/1/2009AMT3.65%$275,000.00$275,000.00sr. serial7/1/2009AMT3.70%$280,000.00$280,000.00sr. serial1/1/2010AMT3.75%$290,000.00$290,000.00sr. serial7/1/2010AMT3.80%$290,000.00$290,000.00sr. serial1/1/2011AMT3.85%$295,000.00$295,000.00sr. serial7/1/2011AMT3.95%$305,000.00$305,000.00sr. serial1/1/2012AMT4.00%$305,000.00$305,000.00sr. serial7/1/2012AMT4.10%$310,000.00$315,000.00sr. serial1/1/2013AMT4.10%$315,000.00$320,000.00sr. serial7/1/2013AMT4.20%$325,000.00$330,000.00sr. serial1/1/2014AMT4.20%$330,000.00$335,000.00sr. serial7/1/2014AMT4.25%$340,000.00$345,000.00sr. serial1/1/2015AMT4.25%$345,000.00$350,000.00sr. serial7/1/2015AMT4.35%$355,000.00$360,000.00sr. serial1/1/2016AMT4.35%$360,000.00$365,000.00sr. serial7/1/2016AMT4.40%$365,000.00$370,000.00sr. serial1/1/2017AMT4.40%$370,000.00$380,000.00sr. serial7/1/2017

2006-A

InterestAmountOriginal MaturityStatusRateOutstandingAmountTypeDateAMT4.50%$3,320,000.00$3,360,000.00sr. term7/1/2021AMT4.65%$4,770,000.00$4,830,000.00sr. term7/1/2026AMT5.75%$25,920,000.00$27,000,000.00Prem PACs *1/1/2036AMT4.75%$17,795,000.00$18,000,000.00sr. term1/1/2037

$58,055,000.00$60,000,000.00TOTAL:



4.66%Bayerische Landesbank Girozentrale$0.00Mortgage Loan Purchase4.66%Bayerische Landesbank Girozentrale$0.00Capitalized Interest

Float Funds are held by Bayerische Landesbank Girozentrale at a 4.35% rate.No Reserve Funds are required for this bond issue.



sinking fundmortg. pymts.0.30%$180,00001/01/07pro-rataunused proceeds0.23%$140,000 01/01/07*

2036 mat.prepayments0.62%$370,00001/01/07sched. mat.mortg. pymts.0.43%$255,00007/01/07

sinking fundmortg. pymts.0.30%$180,00007/01/07pro-rataprepayments0.97%$570,00007/01/07

sched. mat.mortg. pymts.0.45%$260,00001/01/08sinking fundmortg. pymts.0.32%$185,00001/01/08



2006-A


CallFundsAmountDate


Mortgage Program


5.39% - 6.25%Mtg Interest Rate:4.89% - 5.75%MBS Interest Rate:30 yearsTerm:





0.28%$169,026.96Jan 1 - Mar 311.67%$1,011,065.21Apr 1 - Jun 301.19%$707,507.21Jul 1 - Sep 300.97%$566,180.91Oct 1 - Dec 31






Prepayments shall be applied to the redemption of the Prem PAC TermCall Provisions:Bonds first, then to all remaining 2006B Bonds on a pro-rata basis.

MBIA Insurance CorporationBond Insurer:


StatusRateOutstandingAmountTypeDateAMT3.70%$255,000.00sr. serial7/1/2007AMT3.75%$310,000.00$310,000.00sr. serial1/1/2008AMT3.80%$315,000.00$315,000.00sr. serial7/1/2008AMT3.90%$330,000.00$330,000.00sr. serial1/1/2009AMT3.95%$330,000.00$330,000.00sr. serial7/1/2009AMT4.00%$345,000.00$345,000.00sr. serial1/1/2010AMT4.05%$350,000.00$350,000.00sr. serial7/1/2010AMT4.10%$365,000.00$365,000.00sr. serial1/1/2011AMT4.15%$370,000.00$370,000.00sr. serial7/1/2011AMT4.25%$385,000.00$385,000.00sr. serial1/1/2012AMT4.25%$395,000.00$395,000.00sr. serial7/1/2012AMT4.40%$410,000.00$410,000.00sr. serial1/1/2013AMT4.40%$415,000.00$415,000.00sr. serial7/1/2013AMT4.50%$435,000.00$435,000.00sr. serial1/1/2014AMT4.50%$445,000.00$445,000.00sr. serial7/1/2014AMT4.60%$460,000.00$460,000.00sr. serial1/1/2015AMT4.60%$475,000.00$475,000.00sr. serial7/1/2015AMT4.65%$485,000.00$485,000.00sr. serial1/1/2016AMT4.65%$500,000.00$500,000.00sr. serial7/1/2016AMT4.70%$515,000.00$515,000.00sr. serial1/1/2017AMT4.70%$530,000.00$530,000.00sr. serial7/1/2017AMT4.75%$4,905,000.00$4,905,000.00sr. term7/1/2021

2006-B

InterestAmountOriginal MaturityStatusRateOutstandingAmountTypeDateAMT4.85%$8,030,000.00$8,035,000.00sr. term7/1/2026AMT4.95%$10,635,000.00$10,640,000.00sr. term7/1/2031AMT4.95%$11,995,000.00$12,000,000.00sr. term1/1/2037AMT6.20%$35,795,000.00$36,000,000.00Prem PACs *7/1/2037

$79,525,000.00$80,000,000.00TOTAL:



5.13%Transamerica Occidental Life Ins Co.$0.00Mortgage Loan Purchase5.13%Transamerica Occidental Life Ins Co.$0.00Capitalized Interest

Float Funds are held by Transamerica Occidental Life Ins. Co. at a 4.75% rate.No Reserve Funds are required for this bond issue.


CallFundsOut. BondsAmountDatepro-rataunused proceeds0.04%$30,000 04/01/07*

sched. mat.mortg. pymts.0.32%$255,00007/01/07sinking fundmortg. pymts.0.14%$115,00007/01/07

2037 mat.prepayments0.09%$75,00007/01/07sched. mat.mortg. pymts.0.39%$310,00001/01/08

sinking fundmortg. pymts.0.24%$195,00001/01/082037 mat.prepayments2.46%$1,965,00001/01/08



CallFundsAmountDate


Mortgage Program


5.69%- 6.30%Mtg Interest Rate:5.19%- 5.80%MBS Interest Rate:30 yearsTerm:





0.03%$22,430.75Jan 1 - Mar 310.27%$219,255.78Apr 1 - Jun 300.69%$554,895.15Jul 1 - Sep 301.60%$1,276,166.20Oct 1 - Dec 31




BOND ISSUE: 2006 Series C8/24/20060

Aa2Current Rating:$60,000,000.00Amount Issued:$59,755,000.00Amount Outstanding:

Prepayments shall be applied to the redemption of the Prem PAC TermCall Provisions:Bonds first, then to all remaining 2006C Bonds on a pro-rata basis.

N/ABond Insurer:


StatusRateOutstandingAmountTypeDateAMT3.85%$215,000.00$215,000.00sr. serial1/1/2008AMT3.90%$220,000.00$220,000.00sr. serial7/1/2008AMT4.00%$220,000.00$220,000.00sr. serial1/1/2009AMT4.05%$230,000.00$230,000.00sr. serial7/1/2009AMT4.10%$230,000.00$230,000.00sr. serial1/1/2010AMT4.15%$245,000.00$245,000.00sr. serial7/1/2010AMT4.20%$245,000.00$245,000.00sr. serial1/1/2011AMT4.25%$260,000.00$260,000.00sr. serial7/1/2011AMT4.30%$260,000.00$260,000.00sr. serial1/1/2012AMT4.65%$2,735,000.00$2,740,000.00sr. term7/1/2016AMT4.75%$350,000.00$350,000.00sr. serial1/1/2017AMT4.75%$365,000.00$365,000.00sr. serial7/1/2017AMT4.95%$3,305,000.00$3,310,000.00sr. term7/1/2021AMT5.00%$5,435,000.00$5,445,000.00sr. term7/1/2026AMT5.05%$8,655,000.00$8,665,000.00sr. term7/1/2032AMT5.05%$9,985,000.00$10,000,000.00sr. term1/1/2037AMT6.25%$26,800,000.00$27,000,000.00Prem PACs *7/1/2037

$59,755,000.00$60,000,000.00TOTAL:


2006-C


5.48%Pallas Capital Corp.$0.00Mortgage Loan Purchase5.48%Pallas Capital Corp.$0.00Capitalized Interest



CallFundsOut. BondsAmountDatepro-rataunused proceeds0.17%$100,000 06/01/07*

2037 mat.prepayments0.24%$145,00007/01/07sched matmortg payments0.36%$215,00001/01/08

sinking fundmortg payments0.27%$160,00001/01/082037 mat.prepayments2.44%$1,460,00001/01/08



CallFundsAmountDate

2006-CNew Mortgage Backed Securities (MBS) Money

Mortgage Program

Mortgage Backed Securities are provided by FNMA, GNMA and FHLMC.

6.09%, 6.54%Mtg Interest Rate:5.59%, 6.04%MBS Interest Rate:30 yearsTerm:









BOND ISSUE: 2006 Series D10/31/2006Date of Issue:


Prepayments shall be applied to the redemption of the Prem PAC TermCall Provisions:Bonds first, then to all remaining 2006D Bonds on a pro-rata basis.

N/ABond Insurer:


StatusRateOutstandingAmountTypeDateAMT3.60%$280,000.00$280,000.00sr. serial1/1/2008AMT3.65%$265,000.00$265,000.00sr. serial7/1/2008AMT3.70%$265,000.00$265,000.00sr. serial1/1/2009AMT3.75%$280,000.00$280,000.00sr. serial7/1/2009AMT3.80%$285,000.00$285,000.00sr. serial1/1/2010AMT3.85%$290,000.00$290,000.00sr. serial7/1/2010AMT3.90%$295,000.00$295,000.00sr. serial1/1/2011AMT3.90%$305,000.00$305,000.00sr. serial7/1/2011AMT4.00%$315,000.00$315,000.00sr. serial1/1/2012AMT4.00%$330,000.00$330,000.00sr. serial7/1/2012AMT4.30%$3,815,000.00$3,815,000.00sr. term7/1/2017AMT4.50%$3,970,000.00$3,975,000.00sr. term7/1/2021AMT4.625%$6,470,000.00$6,475,000.00sr. term7/1/2026AMT4.70%$8,730,000.00$8,735,000.00sr. term7/1/2031AMT4.35%$9,995,000.00$10,000,000.00sr. term7/1/2037AMT5.875%$38,220,000.00$38,250,000.00Prem PACs *1/1/2038AMT4.80%$1,000,000.00$1,000,000.00sr. term1/1/2039AMT4.90%$9,835,000.00$9,840,000.00sr. term1/1/2048

$84,945,000.00$85,000,000.00TOTAL:


2006-D


5.18%Pallas Capital Corp.$0.00Mortgage Loan Purchase5.18%Pallas Capital Corp.$325,000.00Capitalized Interest



CallFundsOut. BondsAmountDatepro-rataunused proceeds0.06%$55,00008/01/07

sched matmortg payments0.33%$280,00001/01/08sinking fundmortg payments0.25%$210,00001/01/08

2038 matprepayments0.78%$665,00001/01/08


CallFundsAmountDate

2006-DNew Mortgage Backed Securities (MBS) Money

Mortgage Program


5.39%-6.19%Mtg Interest Rate:4.89%-5.69%MBS Interest Rate:30 or 40 yearsTerm:











Prepayments shall be applied to the redemption of the Prem PAC TermCall Provisions:Bonds first, then to the bonds maturing on July 1, 2037, then finally toall remaining 2007A bonds on a pro-rata basis.

N/ABond Insurer:


StatusRateOutstandingAmountTypeDateAMT3.70%$220,000.00$220,000.00sr. serial7/1/2008AMT3.75%$295,000.00$295,000.00sr. serial1/1/2009AMT3.80%$300,000.00$300,000.00sr. serial7/1/2009AMT3.85%$310,000.00$310,000.00sr. serial1/1/2010AMT3.90%$310,000.00$310,000.00sr. serial7/1/2010AMT3.95%$325,000.00$325,000.00sr. serial1/1/2011AMT4.00%$325,000.00$325,000.00sr. serial7/1/2011AMT4.05%$345,000.00$345,000.00sr. serial1/1/2012AMT4.10%$350,000.00$350,000.00sr. serial7/1/2012AMT4.15%$360,000.00$360,000.00sr. serial1/1/2013AMT4.15%$370,000.00$370,000.00sr. serial7/1/2013AMT4.20%$385,000.00$385,000.00sr. serial1/1/2014AMT4.20%$390,000.00$390,000.00sr. serial7/1/2014AMT4.375%$1,995,000.00$1,995,000.00sr. term7/1/2017AMT4.50%$2,000,000.00$2,000,000.00sr. term7/1/2020AMT4.55%$2,225,000.00$2,225,000.00sr. term7/1/2022AMT4.65%$5,785,000.00$5,785,000.00sr. term7/1/2027AMT4.70%$7,905,000.00$7,905,000.00sr. term7/1/2032AMT4.35%$7,500,000.00$7,500,000.00sr. term7/1/2037AMT4.35%$10,000,000.00$10,000,000.00sr. term1/1/2038AMT5.90%$43,335,000.00$43,335,000.00Prem PACs *7/1/2038AMT4.75%$3,155,000.00$3,155,000.00sr. term1/1/2039AMT4.80%$11,815,000.00$11,815,000.00sr. term7/1/2048

$100,000,000.00$100,000,000.00TOTAL:


2007-A


5.275%Pallas Capital Corp.$2,763,297.93Mortgage Loan Purchase5.275%Pallas Capital Corp.$470,000.00Capitalized Interest



CallFundsOut. BondsAmountDate2038, then 2037prepayments0.26%$260,00001/01/08

then pro-rata


CallFundsAmountDate


Mortgage Program


5.69%-6.24%Mtg Interest Rate:5.19%-5.74%MBS Interest Rate:30 or 40 years Term:





Jan 1 - Mar 310.00%$5,199.37Apr 1 - Jun 300.62%$246,487.46Jul 1 - Sep 300.04%$32,781.14Oct 1 - Dec 31






Prepayments shall be applied to the redemption of the Prem PAC TermCall Provisions:Bonds first, then to the bonds maturing on July 1, 2037, then finally toall remaining 2007B bonds on a pro-rata basis except for the PremiumTerm Bonds maturing on July 1, 2023 which shall not be subject to special mandatory redemption prior to July 1, 2017.

N/ABond Insurer:


StatusRateOutstandingAmountTypeDateAMT4.05%$7,000,000.00$7,000,000.00term7/1/2017AMT5.00%$7,655,000.00$7,655,000.00Prem term7/1/2023AMT4.75%$2,780,000.00$2,780,000.00term7/1/2025AMT4.80%$2,910,000.00$2,910,000.00term7/1/2027AMT4.85%$8,100,000.00$8,100,000.00term7/1/2032AMT4.35%$7,500,000.00$7,500,000.00term7/1/2037AMT4.90%$11,490,000.00$11,490,000.00term7/1/2038AMT5.60%$44,095,000.00$44,095,000.00Prem PACs *1/1/2039AMT4.95%$2,430,000.00$2,430,000.00term1/1/2042AMT5.00%$6,040,000.00$6,040,000.00term7/1/2048

$100,000,000.00$100,000,000.00TOTAL:


2007-B


5.200%DEPFA Bank plc$12,956,165.30Mortgage Loan Purchase5.200%DEPFA Bank plc$410,000.00Capitalized Interest

Float Funds are held by DEPFA Bank plc at a 4.60% rate.No Reserve Funds are required for this bond issue.


CallFundsOut. BondsAmountDate


CallFundsAmountDate


Mortgage Program







Jan 1 - Mar 31Apr 1 - Jun 30

0.00%$9,104.32Jul 1 - Sep 300.07%$41,827.12Oct 1 - Dec 31




BOND ISSUE: 2007 Series C08/29/07Date of Issue:


Prepayments shall be applied to the redemption of the Prem PAC TermCall Provisions:Bonds first, then to the bonds maturing on July 1, 2037, then finally toall remaining 2007C bonds on a pro-rata basis except for the PremiumTerm Bonds maturing on July 1, 2022 which shall not be subject to special mandatory redemption prior to July 1, 2017.

N/ABond Insurer:


StatusRateOutstandingAmountTypeDateTaxable5.42%$10,000,000.00$10,000,000.00term7/1/2017AMT4.90%$5,515,000.00$5,515,000.00Prem term7/1/2022AMT5.00%$6,190,000.00$6,190,000.00term7/1/2027AMT5.05%$7,235,000.00$7,235,000.00term7/1/2032AMT4.50%$7,500,000.00$7,500,000.00term7/1/2037AMT5.10%$8,560,000.00$8,560,000.00term1/1/2039AMT5.55%$45,000,000.00$45,000,000.00Prem PACs *7/1/2039AMT5.30%$10,000,000.00$10,000,000.00term**1/1/2049

$100,000,000.00$100,000,000.00TOTAL:


2007-C


5.250%Pallas Capital Corp$23,509,450.98Mortgage Loan Purchase5.250%Pallas Capital Corp$320,000.00Capitalized Interest

Float Funds are held by Pallas Capital Corp at a 5.25% rate.No Reserve Funds are required for this bond issue.




CallFundsAmountDate


Mortgage Program







Jan 1 - Mar 31Apr 1 - Jun 30Jul 1 - Sep 30

0.00%$13,091.64Oct 1 - Dec 31




BOND ISSUE: 2007 Series D11/14/07Date of Issue:


Prepayments shall be applied to the redemption of the Prem PAC TermCall Provisions:Bonds first, then finally to all remaining 2007D bonds on a pro-ratabasis except for the Term Bonds maturing on January 1, 2023 whichshall not be subject to special mandatory redemption prior to July 1, 201

N/ABond Insurer:


StatusRateOutstandingAmountTypeDateAMT5.00%$7,120,000.00$7,120,000.00term7/1/2022AMT4.63%$4,675,000.00$4,675,000.00term01/01/23AMT5.15%$9,680,000.00$9,680,000.00term07/01/28AMT5.20%$20,825,000.00$20,825,000.00term01/01/39AMT5.60%$53,695,000.00$53,695,000.00Prem PAC07/01/39AMT5.50%$10,680,000.00$10,680,000.00term01/01/40

Taxable5.00%$90,000.00$90,000.00serial01/01/09Taxable5.00%$510,000.00$510,000.00serial07/01/09Taxable5.00%$525,000.00$525,000.00serial01/01/10Taxable5.00%$660,000.00$660,000.00serial07/01/10Taxable5.10%$250,000.00$250,000.00serial01/01/11Taxable5.38%$1,150,000.00$1,150,000.00serial01/01/13Taxable5.65%$1,190,000.00$1,190,000.00serial07/04/14Taxable5.80%$1,235,000.00$1,235,000.00serial01/01/17Taxable5.80%$1,175,000.00$1,175,000.00serial07/01/17Taxable5.80%$11,215,000.00$11,215,000.00term07/01/16

$124,675,000.00$124,675,000.00TOTAL:


The 2007-D bonds were issued on 11/14/07 to fully refund the 1994A and 195A bonds. The outstandingmortgage loans in these issues (including the 1984-A loans that were refunded by the 1994-A issue on9/12/94) were transferred to the 2007-D issue.

2007-C


5.070%Pallas Capital Corp$122,003,833.15Mortgage Loan Purchase5.070%Pallas Capital Corp$330,000.00Capitalized Interest4.880%Pallas Capital Corp$140,250.00Debt Service Reserve

Float Funds are held by Pallas Capital Corp at a 4.88% rate.No Reserve Funds are required for this bond issue.




CallFundsAmountDate


Mortgage Program







Jan 1 - Mar 31Apr 1 - Jun 30Jul 1 - Sep 30

0.00%$0.00Oct 1 - Dec 31

$0.00Total Additional Principal Paid to Date:

1994-AOn 11/14/07, all outstanding 1994A mortgages transferredNew Mortgage Money Loans





9%Conv. w/o PMI:43%Conv. w/ PMI:Insurance Type of41%FHA:6%VA:Original Portfolio:1%FmHA:* Only conventional loans have pool insurance with CMAC.


Out. LoansPaid Off Loansof LoansPeriod3.61%$139,156.322Jan 1- Mar 315.66%$208,626.333Apr 1- Jun 304.53%$156,222.042Jul 1- Sep 300.00%$0.000Oct 1- Dec 31



5.44%$176,5748.32%$270,3580.00%$0


3.85%27.69%40.00%0




Mortgage Program







Out. LoansPaid Off Loansof LoansPeriod0.00%$0.000Jan 1- Mar 310.00%$0.000Apr 1- Jun 300.00%$0.000Jul 1- Sep 300.00%$0.000Oct 1- Dec 31



0.00%$00.00%$00.00%$0


0.00%00.00%00.00%0





1995-AOn 11/14/07 outstanding mortgages transferred to 2007D.New Mortgage Money Loans

Mortgage Program

6.95% / 5.5% FAIRInterest Rate:98%Det. Sgle. Fam:Type Homes -30 yearsTerm:

2%Condos:$20,274,409.00Total Mortgages Purchased:0%2-4 Units:220No. Mortgages Purchased:


30%New Construction: 70%Existing Homes:


* Conventional loans only have pool insurance with CMAC.


Out. LoansPaid Off Loansof LoansPeriod0.00%$0.000Jan 1 - Mar 313.79%$109,513.142Apr 1 - Jun 30

12.84%$352,470.015Jul 1 - Sep 300.00%$0.000Oct 1 - Dec 31



3.50%$81,6690.00%$0ERR$60,105


2.70%10.00%02.70%1

2No. Loans Forcl. to Date:CMACPool Insurance Provider:-$15,927Forcl. (Loss)/Gain to Date:$1,405,152Maximum Pool Coverage:-$81,669Amount of REO Outstanding:$0Amt. Pool Claims to Date:


DELAWARE STATE HOUSING AUTHORITYSMAL MORTGAGE PROGRAM REVENUE BONDS

All data as of December 31, 2007

Senior SMAL Mortgage Revenue Bonds

BOND ISSUE: 1995 Series A (Taxable)

12/21/1995Date of Issue:NRCurrent Rating:

$999,678.40Amount Issued:(accreted value)$378,415.39Amount Outstanding:

Direct order of identification number. For example,Call Provisions:SMAL-1A will be redeemed in full first, then SMAL-2A, etc.

Capital Appreciation Bond (CAB) Table Approx.Accreted Value Face ValueCost Original Maturity

Yieldof Bonds Out.of Bonds Out. of Bonds Out.Cost of BondsDate5.70%$249,919.607/1/2027 SMAL-1A5.70%$249,919.607/1/2027 SMAL-2A5.70%$249,919.607/1/2027 SMAL-3A5.70%$378,415.39$1,115,000.00$194,188.40$249,919.607/1/2027 SMAL-4A

$378,415.39$1,115,000.00$194,188.40$999,678.40


Call FundsOut. BondsAmountDateSMAL-4Aprepayments5.91%$24,081.4501/01/07SMAL-4Aprepayments6.69%$26,398.4007/01/07SMAL-4Aprepayments6.82%$25,453.8001/01/08

Bond Forgiveness From January 1, 2007 to January 1, 2008% of

TypeOut. BondsAmountDate

SMAL 1995-A

Call HistoryType of Source

Callof FundsAmountDateSMAL-1Aprepayments$49,886.5801/01/97SMAL-1Aprepayments$16,971.5707/01/97SMAL-1Aprepayments$52,639.2001/01/98SMAL-1Aprepayments$15,027.0007/01/98SMAL-1Aprepayments$64,912.0501/01/99SMAL-1Aprepayments$28,590.3007/01/99SMAL-1Aprepayments$25,048.8401/01/00SMAL-1Aprepayments$13,431.0007/01/00SMAL-1Aprepayments$27,627.6001/01/01SMAL-1Aprepayments$21,294.9007/01/01SMAL-2Aprepayments$46,237.6401/01/02SMAL-2Aprepayments$60,024.0007/01/02SMAL-2Aprepayments$86,172.0501/01/03SMAL-2Aprepayments$55,515.6007/01/03SMAL-2Aprepayments$63,895.0901/01/04

SMAL-2A & 3Aprepayments$139,715.0007/01/04SMAL-3Aprepayments$133,636.3501/01/05SMAL-3Aprepayments$69,407.2507/01/05SMAL-3Aprepayments$103,281.8001/01/06

SMAL-3A & 4Aprepayments$56,194.2007/01/06

Bond Forgiveness History

TypeAmountDate

SMAL 1995-A

SMAL Mortgage Program

6.0%Interest Rate:see Description of Program belowTerm:

$988,267.42Total Second Mortgages Closed:237No. Second Mortgages Closed:

$177,997.16Total Second Mtgs. Outstanding:45No. Second Mtgs. Outstanding:

nonePrepayment Penalty:of original portfolio.5%New Construction:of original portfolio.95%Existing Homes:

Quarterly Mortgage Principal Reductions for 2007% of Prev. Quart.Amount of No. of LoansNo. of Loans

Out. LoansPrincipalF/C / W/OPaid OffPeriod0.00%$0.0000Jan 1 - Mar 313.73%$7,408.0011Apr 1 - Jun 302.63%$5,000.0001Jul 1 - Sep 302.72%$5,000.0001Oct 1 - Dec 31

15# of Foreclosures / Write-Offs to Date:$59,041.00Principal Loss:

Description of Program

Delaware State Housing Authority's (DSHA) Second Mortgage Assistance Loan (SMAL) programprovides downpayment and closing cost assistance to qualified first-time homebuyers. Theassistance is in the form of a second mortgage loan for a maximum of $5,000 at a 6% interest rate. The second mortgage is a lien against the property with monthly paymentsdeferred until (1) the first mortgage is paid off; (2) the property is sold or transferred; or (3) the property is no longer the borrower's primary residence. However, borrower'scan voluntarily repay at any time with no prepayment penalty.









Yieldof Bonds Out.of Bonds Out. of Bonds Out.Cost of BondsDate5.70%$249,525.007/1/2028 SMAL-1A5.70%$249,525.007/1/2028 SMAL-2A5.70%$24,625.02$70,000.00$13,973.40$249,525.007/1/2028 SMAL-3A5.70%$439,732.50$1,250,000.00$249,525.00$249,525.007/1/2028 SMAL-4A

$464,357.52$1,320,000.00$263,498.40$998,100.00




TypeOut. BondsAmountDateSMAL-4A1.53%$7,035.7201/01/08

SMAL 1996-A


Callof FundsAmountDateSMAL-1Aprepayments$22,649.0007/01/97SMAL-1Aprepayments$14,790.0201/01/98SMAL-1Aprepayments$31,417.1507/01/98SMAL-1Aprepayments$37,797.1201/01/99SMAL-1Aprepayments$29,640.5207/01/99SMAL-1Aprepayments$43,283.3401/01/00SMAL-1Aprepayments$26,392.3007/01/00SMAL-1Aprepayments$32,006.7801/01/01SMAL-1Aprepayments$66,907.2007/01/01SMAL-2Aprepayments$27,203.4001/01/02SMAL-2Aprepayments$71,733.6007/01/02SMAL-2Aprepayments$58,615.4501/01/03SMAL-2Aprepayments$55,916.0007/01/03

SMAL-2A & 3Aprepayments$106,149.3001/01/04SMAL-3Aprepayments$44,130.0007/01/04SMAL-3Aprepayments$123,777.3601/01/05SMAL-3Aprepayments$26,315.1507/01/05SMAL-3Aprepayments$50,829.7601/01/06SMAL-3Aprepayments$11,402.3007/01/06


TypeAmountDateSMAL-2A$47,528.6007/01/03SMAL-3A$13,239.0007/01/04SMAL-3A$12,707.4401/01/06

SMAL 1996-A







Out. LoansPrincipalF/C / W/OPaid OffPeriod0.00%$0.0000Jan 1 - Mar 312.45%$5,123.7302Apr 1 - Jun 307.17%$14,578.6913Jul 1 - Sep 302.62%$4,908.0001Oct 1 - Dec 31







BOND ISSUE: 1996 Series B (Taxable)



Direct order of identification number. For example,Call Provisions:SMAL-1B will be redeemed in full first, then SMAL-2B, etc.


Yieldof Bonds Out.of Bonds Out. of Bonds Out.Cost of BondsDate5.70%$249,847.107/1/2028 SMAL-1B5.70%$249,847.107/1/2028 SMAL-2B5.70%$48,678.00$140,000.00$27,542.20$249,847.107/1/2028 SMAL-3B5.70%$441,579.00$1,270,000.00$249,847.10$249,847.107/1/2028 SMAL-4B

$490,257.00$1,410,000.00$277,389.30$999,388.40


Call FundsOut. BondsAmountDateSMAL-3Bprepayments5.83%$29,720.7001/01/07SMAL-3Bprepayments3.09%$15,243.3007/01/07

SMAL-3B&4Bprepayments6.47%$31,293.0001/01/08


TypeOut. BondsAmountDate

SMAL 1996-B


Callof FundsAmountDateSMAL-1Bprepayments$18,207.0007/01/97SMAL-1Bprepayments$19,726.7501/01/98SMAL-1Bprepayments$23,430.0007/01/98SMAL-1Bprepayments$40,447.6601/01/99SMAL-1Bprepayments$51,582.1007/01/99SMAL-1Bprepayments$49,493.0001/01/00SMAL-1Bprepayments$34,238.8507/01/00SMAL-1Bprepayments$60,593.5001/01/01SMAL-1Bprepayments$36,049.9007/01/01SMAL-2Bprepayments$65,074.4701/01/02SMAL-2Bprepayments$65,442.5007/01/02SMAL-2Bprepayments$61,800.0801/01/03SMAL-2Bprepayments$63,392.6007/01/03

SMAL-2B & 3Bprepayments$59,411.1001/01/04SMAL-3Bprepayments$92,864.0007/01/04SMAL-3Bprepayments$50,638.9201/01/05SMAL-3Bprepayments$56,526.7507/01/05SMAL-3Bprepayments$40,772.6801/01/06SMAL-3Bprepayments$28,954.8007/01/06


TypeAmountDate

SMAL 1996-B







Out. LoansPrincipalF/C / W/OPaid OffPeriod2.08%$4,855.8201Jan 1 - Mar 315.16%$11,759.5603Apr 1 - Jun 301.74%$3,767.0001Jul 1 - Sep 304.55%$9,665.4602Oct 1 - Dec 31













$477,856.20$1,450,000.00$280,995.50$999,956.40


Call FundsOut. BondsAmountDateSMAL-3Aprepayments3.61%$18,778.2001/01/07SMAL-3Aprepayments6.67%$33,710.2507/01/07

SMAL-3A&4Aprepayments8.03%$37,898.7101/01/08


TypeOut. BondsAmountDateSMAL-3A1.51%$7,824.2501/01/07SMAL-3A1.27%$6,421.0007/01/07

SMAL 1997-A


Callof FundsAmountDateSMAL-1Aprepayments$6,921.1101/01/98SMAL-1Aprepayments$22,187.0007/01/98SMAL-1Aprepayments$17,598.7401/01/99SMAL-1Aprepayments$21,239.0007/01/99SMAL-1Aprepayments$35,973.3001/01/00SMAL-1Aprepayments$31,311.0007/01/00SMAL-1Aprepayments$33,288.5201/01/01SMAL-1Aprepayments$58,875.0007/01/01SMAL-2Aprepayments$25,382.7001/01/02SMAL-2Aprepayments$49,596.0007/01/02SMAL-2Aprepayments$70,002.3501/01/03SMAL-2Aprepayments$54,837.3007/01/03SMAL-2Aprepayments$91,137.0001/01/04SMAL-2Aprepayments$26,122.1507/01/04



TypeAmountDateSMAL-2A$27,418.6507/01/03SMAL-2A$4,124.5507/01/04SMAL-2A$8,467.6801/01/05SMAL-3A$14,860.8001/01/06

SMAL 1997-A




















$425,639.20$1,360,000.00$261,296.80$999,076.00





SMAL-3A & 4A1.12%$4,694.5501/01/08

SMAL 1998-A


Callof FundsAmountDateSMAL-1Aprepayments$14,768.6301/01/99SMAL-1Aprepayments$11,093.5007/01/99SMAL-1Aprepayments$15,528.3001/01/00SMAL-1Aprepayments$27,610.7007/01/00SMAL-1Aprepayments$44,694.1001/01/01SMAL-1Aprepayments$22,365.0007/01/01SMAL-1Aprepayments$37,879.7101/01/02SMAL-1Aprepayments$65,940.0007/01/02SMAL-1Aprepayments$54,391.5001/01/03SMAL-2Aprepayments$85,553.1007/01/03SMAL-2Aprepayments$62,365.7301/01/04SMAL-2Aprepayments$52,226.0007/01/04



TypeAmountDateSMAL-2A$37,197.0007/01/03SMAL-2A$11,750.8507/01/04SMAL-2A$16,083.0001/01/05SMAL-3A$16,935.3601/01/06SMAL-3A$7,238.5007/01/06

SMAL 1998-A














BOND ISSUE: 1998 Series B (Taxable)


$2,996,154.00Amount Issued:(accreted value)$1,116,644.90Amount Outstanding:

Direct order of identification number. For example,Call Provisions:SMAL-1B will be redeemed in full first, then SMAL-2B, etc.


Yieldof Bonds Out.of Bonds Out. of Bonds Out.Cost of BondsDate5.25%$749,038.507/1/2030 SMAL-1B5.25%$749,038.507/1/2030 SMAL-2B5.25%$749,038.507/1/2030 SMAL-3B5.25%$1,116,644.90$3,530,000.00$683,231.50$749,038.507/1/2030 SMAL-4B

$1,116,644.90$3,530,000.00$683,231.50$2,996,154.00


Call FundsOut. BondsAmountDateSMAL-3Bprepayments7.81%$103,689.7501/01/07

SMAL-3B&4Bprepayments11.06%$137,166.8007/01/07SMAL-4Bprepayments5.74%$63,266.0001/01/08


TypeOut. BondsAmountDateSMAL-3B1.02%$13,524.7501/01/07SMAL-4B1.24%$15,412.0007/01/07

SMAL 1998-B


Callof FundsAmountDateSMAL-1Bprepayments$78,836.0801/01/99SMAL-1Bprepayments$74,711.8507/01/99SMAL-1Bprepayments$82,975.2801/01/00SMAL-1Bprepayments$81,867.2007/01/00SMAL-1Bprepayments$79,594.5601/01/01SMAL-1Bprepayments$112,241.2507/01/01SMAL-1Bprepayments$87,264.7501/01/02SMAL-1Bprepayments$169,448.6007/01/02

SMAL-1B & 2Bprepayments$208,187.1001/01/03SMAL-2Bprepayments$249,934.0507/01/03SMAL-2Bprepayments$204,935.1001/01/04SMAL-2Bprepayments$227,358.2007/01/04

SMAL-2B & 3Bprepayments$305,223.7501/01/05SMAL-3Bprepayments$218,426.2507/01/05SMAL-3Bprepayments$238,439.2601/01/06SMAL-3Bprepayments$213,787.8007/01/06


TypeAmountDateSMAL-2B$66,565.3507/01/03SMAL-2B$40,977.3507/01/04SMAL-2B$9,495.8501/01/05SMAL-3B$38,550.0601/01/06SMAL-3B$7,321.5007/01/06

SMAL 1998-B



$2,924,144.00Total Second Mortgages Closed:685No. Second Mortgages Closed:

















$415,765.44$1,440,000.00$259,300.80$997,587.80


Call FundsOut. BondsAmountDateSMAL-3Aprepayments11.08%$56,140.4801/01/07SMAL-3Aprepayments11.38%$52,001.6507/01/07

SMAL-3A&4Aprepayments14.43%$59,188.4201/01/08



SMAL 1999-A


Callof FundsAmountDateSMAL-1Aprepayments$11,047.8007/01/99SMAL-1Aprepayments$20,804.3001/01/00SMAL-1Aprepayments$11,647.8007/01/00SMAL-1Aprepayments$49,850.0001/01/01SMAL-1Aprepayments$22,513.7007/01/01SMAL-1Aprepayments$45,199.4501/01/02SMAL-1Aprepayments$61,500.1507/01/02SMAL-1Aprepayments$50,979.5001/01/03


SMAL-2A & 3Aprepayments$97,358.8007/01/05SMAL-3Aprepayments$107,796.2501/01/06SMAL-3Aprepayments$69,321.2007/01/06


TypeAmountDateSMAL-2A$1,137.5507/01/03SMAL-2A$5,996.5007/01/04SMAL-2A$1,231.8501/01/05SMAL-3A$5,195.0001/01/06SMAL-3A$1,333.1007/01/06

SMAL 1999-A
















$2,244,024.90Amount Issued:(accreted value)$1,380,059.88Amount Outstanding:

Ownership percentage: SMAL-A1-1 at 44.444%,Call Provisions:SMAL-A2-1 at 44.444% and SMAL-A3-1 at 11.111%


Yieldof Bonds Out.of Bonds Out. of Bonds Out.Cost of BondsDate5.67%$612,815.00$2,500,000.00$416,950.00$997,344.407/1/2033 SMAL-A1-15.67%$612,815.00$2,500,000.00$416,950.00$997,344.407/1/2033 SMAL-A2-15.67%$154,429.88$630,000.00$105,071.40$249,336.107/1/2033 SMAL-A3-1

$1,380,059.88$5,630,000.00$938,971.40$2,244,024.90


Call FundsOut. BondsAmountDateSMAL-1A,2A,3Aprepayments7.53%$113,668.2401/01/07SMAL-1A,2A,3Aprepayments5.99%$85,813.2007/01/07SMAL-1A,2A,3Aprepayments8.82%$120,110.7601/01/08


TypeOut. BondsAmountDateSMAL-1A,2A,3A0.42%$5,959.2507/01/07

SMAL 2001-A


Callof FundsAmountDateSMAL-1A,2A,3Aprepayments$5,281.9801/01/02SMAL-1A,2A,3Aprepayments$38,897.8007/01/02SMAL-1A,2A,3Aprepayments$60,466.2501/01/03SMAL-1A,2A,3Aprepayments$148,164.5007/01/03SMAL-1A,2A,3Aprepayments$132,705.0001/01/04SMAL-1A,2A,3Aprepayments$165,656.4007/01/04SMAL-1A,2A,3Aprepayments$265,914.8801/01/05SMAL-1A,2A,3Aprepayments$161,169.8507/01/05SMAL-1A,2A,3Aprepayments$266,724.0901/01/06SMAL-1A,2A,3Aprepayments$163,545.5007/01/06


TypeAmountDateSMAL-2A,3A$2,867.7007/01/03

SMAL-2A$3,116.1901/01/05SMAL-1A,2A,3A$15,366.8201/01/06SMAL-1A,2A,3A$7,895.3007/01/06

SMAL 2001-A



$2,209,231.00Total Second Mortgages Closed:485No. Second Mortgages Closed:








DELAWARE STATE HOUSING AUTHORITY

MULTI-FAMILY MORTGAGE REVENUE BOND PROGRAM


Multi-Fami ly Mortgage Revenue Bonds

BOND ISSUE: 1992 Series C

12/2/1992Date of Issue:

A3 / BCurren t Rating:

$6,710,000.00Amount Issued:

$2,940,000.00Amount Outstanding:

NoneCredit Enhancer:

Full refunding of MFMRB Series 1983

List of Bonds by Maturity InterestAmount OriginalMaturity

StatusRateOutstandingAmountTypeDate

Non-AMT7.25%$2,565,000.00term1/1/2007

Non-AMT7.375%$2,940, 000. 00$4,145,000.00term1/1/2015

$2,940,000.00$6,710,000.00TOTAL:

MF 1992-C

Bond Redemption Fro m Januar y 1, 2007 to Janua ry 1, 2008Type ofSource% of

Callof FundsAmountOut. BondsDate

sched. mat.mortg. p ymts.$225,0007.11%01/01/07

sched. mat.mortg. p ymts.$300,00010.20%01/01/08

Call HistorySource

Type of Callof FundsAmountDate

sinking fundmortg. pymts.$70,00001/01/96











pro-rataprepayments$1,300,00002/01/06


7.11%AIG Matched Fundi ng Cor p.$537,408.76Debt Service Reserve

N/AN/A$5,107.46Redempt ion Fund

N/AN/A$0.00Rebate

Development InformationFamilialPaymentInterest OutstandingOriginal# ofDevelopment

StatusStatusRateMortgage Amt.Mortgage Amt.UnitsName

Elderlycurrent11.70%$2,386,238.58$4,269, 152. 00108Liberty Terrace

Elderlypaid in full11.70%$0.00$1,712, 773. 0050 (1) Marrows Court

$2,386,238.58$5,981, 925. 00TOTAL:

Mortg.Govt.HAPHAPDevelopment

MaturitySubsidyAdministerExp. DateName

2014Sec. 8DSHA2014Liberty Terrace

2014Sec. 8DSHA2014Marrows Court

(1) Marrows Court's mortgage was paid in full on 12/14/05. The proceeds were used to call bonds on 2/1/06.

DELAWARE STATE HOUSING AUTHORITYMULTI-FAMILY MORTGAGE REVENUE BOND PROGRAM


Multi-Family Mortgage Revenue Bonds

BOND ISSUE: 1992 Series D

5/14/1992Date of Issue:A1Current Rating:

$16,305,000.00Amount Issued:$5,400,000.00Amount Outstanding:

NoneCredit Enhancer:Note: no optional redemption prior to stated maturity

Partial refunding of 5 projects from MFMRB Series 1982

List of Bonds by MaturityInterestAmount OriginalMaturity

StatusRateOutstandingAmountTypeDateNon-AMT3.50%$490,000.00serial7/1/1993Non-AMT4.50%$405,000.00serial7/1/1994Non-AMT4.85%$540,000.00serial7/1/1995Non-AMT5.10%$565,000.00serial7/1/1996Non-AMT5.40%$590,000.00serial7/1/1997Non-AMT5.65%$625,000.00serial7/1/1998Non-AMT5.90%$665,000.00serial7/1/1999Non-AMT6.05%$700,000.00serial7/1/2000Non-AMT6.15%$745,000.00serial7/1/2001Non-AMT6.25%$790,000.00serial7/1/2002Non-AMT6.35%$840,000.00serial7/1/2003Non-AMT6.75%$2,865,000.00term7/1/2006Non-AMT6.85%$5,400,000.00$6,485,000.00term7/1/2012

$5,400,000.00$16,305,000.00TOTAL:

Bond Redemption From January 1, 2007 to December 31, 2007Type ofSource% of

Callof FundsAmountOut. BondsDatesinking fundmortg. pymts.$1,085,00016.73%07/01/07

Call HistorySource

Type of Callof FundsAmountDatesinking fundmortg. pymts.$895,00007/01/04sinking fundmortg. pymts.$955,00007/01/05sinking fundmortg. pymts.$1,015,00007/01/06

Reserve Fund InformationRateHolderBalanceName7.38%Canadian Imperial Bank of Commerce$1,385,925.00Debt Service Reserve7.38%Canadian Imperial Bank of Commerce$142,687.66Mortgage Reserve6.22%Berkshire Hathaway$0.00Redemption Fund6.22%Berkshire Hathaway$1,475,710.88Optional Redemption FundN/AN/A$0.02Rebate

Development InformationPaymentInterest OutstandingOriginal# ofDevelopment

StatusRateMortgage Amt.Mortgage Amt.UnitsNamecurrent11.75%$229,923.31$407,948.0024Huling Cove

paid in full11.75%$0.00$2,345,782.0075(1) Georgetown Apts

current11.75%$2,457,263.98$6,084,847.00152Stoneybrook Apts

current11.75%$1,651,240.24$5,152,206.00149Luther Towers I

paid in full11.75%$0.00$1,405,693.0035(2) President Cmplx

$4,338,427.53$15,396,476.00TOTAL:

Mortg.Govt.HAPHAPDevelopmentMaturitySubsidyAdministerExp. DateName

2014Sec. 8DSHA2018Huling Cove

2011Sec. 8DSHA2011(1) Georgetown Apts

2012Sec. 8DSHA2011Stoneybrook Apts

2011Sec. 8DSHA2011Luther Towers I

2012Sec. 8DSHA2011(2) President Cmplx

(1) Georgetown Apts' mortgage was paid in full on 12/16/03. The payoff money was used to purchase investment securities which will be used to make Debt Service payments. (2) President Complex's mortgage was paid in full on 10/5/04. The payoff money was used to purchase investment securities which will be used to make Debt Service payments.




BOND ISSUE: 1992 Series E

5/14/1992Date of Issue:A1Current Rating:


NoneCredit Enhancer:Note: no optional redemption prior to stated maturity


StatusRateOutstandingAmountTypeDateAMT4.65%$250,000.00serial7/1/1994AMT5.00%$260,000.00serial7/1/1995AMT5.25%$275,000.00serial7/1/1996AMT5.55%$290,000.00serial7/1/1997AMT5.80%$305,000.00serial7/1/1998AMT6.05%$320,000.00serial7/1/1999AMT6.20%$340,000.00serial7/1/2000AMT6.30%$360,000.00serial7/1/2001AMT6.40%$385,000.00serial7/1/2002AMT6.50%$410,000.00serial7/1/2003AMT6.85%$1,400,000.00term7/1/2006AMT6.95%$3,345,000.00$3,875,000.00term7/1/2014

$3,345,000.00$8,470,000.00TOTAL:

MF 1992-E


Callof FundsAmountOut. BondsDatesinking fundmortg. pymts.$530,00013.68%07/01/07

Call HistorySource

Type of Callof FundsAmountDatesinking fundmortg. pymts.$435,00007/01/04sinking fundmortg. pymts.$465,00007/01/05sinking fundmortg. pymts.$500,00007/01/06

Reserve Fund InformationRateHolderBalanceName7.38%Canadian Imperial Bank of Commerce$719,950.00Debt Service Reserve7.38%Canadian Imperial Bank of Commerce$76,770.00Mortgage Reserve6.22%Berkshire Hathaway$0.00Redemption Fund6.22%Berkshire Hathaway$0.00Optional Redemption FundN/AN/A$2,201,774.69Escrow Account

Development InformationFamilialPaymentInterest OutstandingOriginal# ofDevelopmentStatusStatusRateMortgage Amt.Mortgage Amt.UnitsNameFamilycurrent1.00%$2,574,132.35$7,677,000.00150(1) Bethel Villa Apts

$2,574,132.35$7,677,000.00TOTAL:

Mortg.Govt.HAPHAPDevelopmentMaturitySubsidyAdministerExp. DateName

2014Sec. 8HUD2008(1) Bethel Villa Apts

(1) Originally a construction loan that converted to a permanent loan with amortization beginning on 12/1/93




BOND ISSUE: 2001 Series A

12/03/2001Date of Issue:Aa3Current Rating:



StatusRateOutstandingAmountTypeDateNon-AMT2.25%$1,295,000.00serial7/1/2002Non-AMT2.65%$3,005,000.00serial7/1/2003Non-AMT3.15%$3,090,000.00serial7/1/2004Non-AMT3.60%$3,190,000.00serial7/1/2005Non-AMT3.90%$3,305,000.00serial7/1/2006Non-AMT4.15%$3,435,000.00serial7/1/2007Non-AMT4.40%$1,735,000.00$3,575,000.00serial7/1/2008Non-AMT4.50%$1,805,000.00$3,730,000.00serial7/1/2009Non-AMT4.625%$1,880,000.00$3,880,000.00serial7/1/2010Non-AMT4.75%$1,765,000.00$3,650,000.00serial7/1/2011Non-AMT5.15%$2,100,000.00$4,325,000.00term7/1/2017Non-AMT5.40%$6,210,000.00$12,825,000.00term7/1/2024

$15,495,000.00$49,305,000.00TOTAL:

MF 2001-A


Callof FundsAmountOut. BondsDatesched. mat.mortg. pymts.$2,200,0009.71%07/01/07sched. mat.mortg. pymts.$2,445,00011.96%08/01/07

pro-rataprepayment$2,510,000.0013.94%12/01/07

Call HistorySource

Type of Callof FundsAmountDatepro-rataprepayments$6,835,00001/01/04pro-rataprepayments$1,155,00003/01/05pro-rataprepayments$4,680,00006/01/05pro-rataDSR reduction$80,00007/01/06pro-rataprepayment$2,380,00008/01/06


5.43%Bayerische$3,203,079.47Debt Service Reserve5.11%Bayerische$988.72Redemption FundN/AN/A$15,582.87Rebate

5.43%Bayerische$1,109,312.19Collateral

MF 2001-A

Development InformationFamilialPaymentInterest OutstandingOriginal# ofDevelopmentStatusStatusRateMortgage Amt.Mortgage Amt.UnitsNameFamilypaid in full8.50%$0.00$1,773,600.00100(9) Carvel Gardens

paid in full0.00%$0.00$106,416.00(1) Carvel Gardens

paid in full0.00%$0.00$143,156.00(1) Carvel Gardens

Fam/Elderlypaid in full7.94%$0.00$3,658,079.00144(11) Capitol Green

Elderlypaid in full7.75%$0.00$3,689,000.00120(2) Chelton Apts

Elderlycurrent7.75%$4,248,507.24$6,797,865.00208B'nai B'rith

Elderlycurrent8.14%$3,440,818.19$5,092,617.00136St. Anthony's

Elderlypaid in full8.14%$0.00$864,000.0040(5) Buford Manlove

Fam/Elderlypaid in full8.39%$0.00$2,663,429.00100(4) Carleton Court

Elderlypaid in full8.39%$0.00$4,910,099.00150(4) Main Towers

Elderlycurrent7.15%$1,080,976.31$1,975,000.0041Huling Cove Anx

Familycurrent11.75%$792,376.33$1,676,638.0055Compton Apts

Familycurrent11.75%$455,384.51$941,481.0030Carvel Gardens Anx

Fam/Elderlypaid in full11.75%$0.00$4,046,100.00120(8) Seaford Mdws

Familycurrent11.75%$2,740,263.58$5,273,111.00125Lexington Green

Fam/Elderlypaid in full11.75%$0.00$2,327,582.0065(10) Middletown Trace

Familycurrent11.75%$472,777.34$941,334.0023King Plaza

Fam/Elderlycurrent12.43%$2,771,577.96$4,937,300.00146Silver Lake Est.

Familycurrent12.25%$2,876,712.10$4,846,497.00102Woodlea

Familypaid in full12.25%$0.00$2,057,906.0071(7) Little Creek Apts

Fam/Elderlypaid in full11.58%$0.00$3,032,000.0072(6) Spencer Apts

$18,879,393.56$61,753,210.00TOTAL:

MF 2001-AMortg.Govt.HAPHAPDevelopment

MaturitySubsidyAdministerExp. DateName2015Sec. 221(d)3HUD2005(3) Carvel Gardens

2018Sec. 8DSHA2017(11) Capitol Green

N/ASec. 8DSHA2019(2) Chelton Apts

2019Sec. 8DSHA2019B'nai B'rith

2020Sec. 8DSHA2020St. Anthony's

2020Sec. 8DSHA2020(5) Buford Manlove

N/ASec. 8DSHA2009(4) Carleton Court

N/ASec. 8DSHA2010(4) Main Towers

2017Sec. 8DSHA2016Huling Cove Anx

2013Sec. 8DSHA2012Compton Apts

2013Sec. 8DSHA2012Carvel Gardens Anx

2013Sec. 8DSHA2013(8) Seaford Mdws

2014Sec. 8DSHA2013Lexington Green

2013Sec. 8DSHA2013(10) Middletown Terrace

2013Sec. 8DSHA2013King Plaza

2014Sec. 8DSHA2013Silver Lake Est.

2014Sec. 8DSHA2013Woodlea

2014Sec. 8DSHA2013(7) Little Creek Apts

2024Sec. 8DSHA2013(6) Spencer Apts

(1) DSHA loaned the development $106,416 at 0% for Project Cost Reserves and $143,156 for a Residual Receipts Escrow in the form of a deferred mortgage. This mortgage was paid back in full on 6/25/07.(2) As security for the bonds, the mortgage for Chelten Apts. was replaced with a FNMA Mortgage Backed Security (MBS) on 2/10/94. The MBS was paid in full on 10/27/03 and the proceeds were used to call bonds on 1/1/04.(3) Annual HAP Contract extensions are being requested and received from HUD.(4) As security for the bonds, the mortgages for these two projects were replaced with FNMA Mortgage Backed Securities (MBS) on 2/10/94. The MBS's were paid in full on 10/27/03 and the proceeds were used to call bonds on 1/1/04.(5) Buford Manlove's mortgage was paid in full on 12/1/04. The proceeds were used to call bonds on 3/1/05. (6) Spencer Apts.' mortgage was paid in full on 1/31/05. The proceeds were used to call bonds on 6/1/05.(7) Little Creek Apts.' mortgage was paid in full on 3/25/05. The proceeds were used to call bonds on 6/1/05.(8) Seaford Meadows' mortgage was paid in full on 6/28/06. The proceeds were used to call bonds on 8/1/06.(9) Carvel Gardens' mortgage was paid in full on 6/25/07. The proceeds were used to call bonds on 8/1/07. (10) Middletown Trace's mortgage was paid in full on 6/28/07. The proceeds were used to call bonds on 8/1/07.(11) Capitol Green's mortgage was paid in full on 10/19/07. The proceeds were used to call bonds on 12/1/07.

Delaware State Housing Authority Multi-Family and Single Family

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Transcript of Delaware State Housing Authority Multi-Family and Single Family