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

2006 Mortgage Research Pima Arizona US
Total Applications 3,153 28,935 523,912
Average Loan $156.0k $192.4k $200.8k
Loan to Income Ratio 1.47 1.68 1.77
Subprime Loans 2.92% 4.63% 6.71%
Refinancing Loans 31.91% 32.26% 37.77%
Principal Dwellings 75.58% 80.32% 82.84%
Rejected Applications 3.08% 5.63% 7.49%