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LEHMAN BROTHERS BANK 745 SEVENTH AVENUE, 24TH FLOOR
NEW YORK, 10019

2006 Mortgage Research Arizona US
Total Applications 28,935 523,912
Average Loan $192.4k $200.8k
Loan to Income Ratio 1.68 1.77
Subprime Loans 4.63% 6.71%
Refinancing Loans 32.26% 37.77%
Principal Dwellings 80.32% 82.84%
Rejected Applications 5.63% 7.49%