1. Robert Gardner CEO/Partner Legacy Mutual Mortgage A Division of Gardner Financial Services 1635 N.E. Loop 410 Suite 205 San Antonio, Texas 78209 210-832-8622 Fax 210-832-8145 www.legacymutualmortgage.com Legacy Mutual Mortgage A Division of Gardner Financial Services

2. Texas: Existing Home Sales Source: Real Estate Center Source: Texas A&M Real Estate Research Center

3. Texas Residential MLS Activity Number of Homes Sold Source: Texas A&M Real Estate Research Center

4. A NNUAL S ALES T RENDS (J AN – N OV ) Number of Sales Source: MLS

5. Number of sales is down 3.2% year-to-date compared to 2008 Decline year-to-date from 2007 to 2008 was 19% Source: MLS

6. NUMBER OF SALES BY PRICE RANGE (NOVEMBER) Price Range # of Sales Source: MLS 1072 362 762 231 1157 337 328 1210

7. Number of homes that sold at or below $199,999 is up 52% compared to November 2008 Market share in November 2009 was 76% Number of houses that sold at or between $200,000 - $499,999 is up 46% compared to November 2008 Market share in November 2009 was22% Source: MLS

8. NUMBER OF SALES $500,000 AND ABOVE (NOVEMBER) # of Sales > $500,000 Price Range Source: MLS 40 38 35 Nov. ‘07 Nov. ‘08 Nov. ‘09 Nov. ‘06 46

9. Number of houses that sold at or above $500,000 is down 8% from November 2008 Down 24% from November 2006 Market share in November 2009 was 2% Source: MLS

10. BREAKDOWN OF SALES UNDER $200,000 (N OVEMBER 2009) Number of Sales 310 515 369 231296 576 247 212 153 Source: MLS

11. Texas: Months Inventory of Unsold Homes Source: Texas A&M Real Estate Research Center

12. Texas Residential MLS Activity Number of Months Inventory Source: Texas A&M Real Estate Research Center

13. N UMBER OF M ONTHLY A CTIVE L ISTINGS B Y Y EAR Month # of Active Listings Source: MLS

14. Inventory Analysis Inventory is declining Demand is up putting pressure on inventory which will result in higher prices

15. MONTHS OF INVENTORY BY YEAR (Includes Single-Family & Condos/Townhomes) Month Months of Inventory Source: Texas A&M Real Estate Research Center

16. MONTHS OF INVENTORY BY PRICE RANGE (November 2009) Months of Inventory Source: MLS (Represents only Single-Family Residential properties) 6.4 7.8 5.9 9.8 9.0 16.4 21.1 12.0 31.3 44.1 61.0

17. M ONTHS OF I NVENTORY Inventory is headed toward a 6 month supply which is considered a balanced inventory In the $1 million+ price range, inventory has gone from 44 months to 61 month supply which is the only price range to show an increase in months of supply

18. Days on Market (November) Source: MLS

19. YTD MEDIAN SALES PRICE PER YEAR (JAN - NOV) Source: MLS

20. Prices are expected to rise in 2010 Price stability will vary by price range and location

21. UP 44% 2009 COMPARED TO 2008 www.FLSonline.com Foreclosure postings have climbed 85% over the past 5 years, since 2005. Foreclosure Listing Service, Inc. FORECLOSURE POSTINGS

22. www.FLSonline.com Monthly Foreclosure Postings topped 1,400 seven times. Foreclosure Listing Service, Inc. New Record High 1,682 Postings January 2010 Auction FORECLOSURE POSTINGS

23. Fiscal Policy Job Growth Interest Rates Pent-up demand of housing Your plan will vary dramatically by price range and location Estimate for 2010 CLOSING REMARKS

24. Mortgage Rates at Historic Lows Likely to Move Higher by Next Summer Source: Texas A&M Real Estate Research Center