Washington Mutual To Acquire Commercial Capital Bancorp, Inc.

Washington Mutual to Acquire Commercial Capital Bancorp, Inc.
Deal Strengthens WaMu's Commercial and Retail Banking Businesses-

SEATTLE & IRVINE, Calif.--(BUSINESS WIRE)--

April 23, 2006--

Washington Mutual, Inc. (NYSE:WM), and Commercial Capital Bancorp, Inc. (NASDAQ:CCBI) announced that they have entered into a definitive merger agreement in which Washington Mutual will acquire the outstanding shares of Commercial Capital in exchange for $16.00 per share in cash. The transaction is valued at approximately $983 million in aggregate. The acquisition of Commercial Capital enhances Washington Mutual's commercial and retail banking business in one of its core markets, California, and further diversifies the company's asset generation and earnings.

The acquisition is also expected to add attractive assets with higher risk-adjusted rates of return to Washington Mutual's balance sheet without any negative effect on Washington Mutual's credit quality. "Today's transaction strengthens our already solid position in the attractive California multifamily and small commercial real estate lending markets," said Kerry Killinger, Washington Mutual chairman and chief executive officer. "Commercial Capital is the third largest multifamily lender in California and has had an eight-year record of strong growth and excellent credit performance. Its production team is recognized as an industry leader and we look forward to offering the broader Washington Mutual product line to Commercial Capital's clients." Killinger added: "The transaction provides us additional opportunities for household acquisition, deposit growth and increased retail product cross-sell to Commercial Capital's existing retail customer base. And we believe that there are significant operating efficiencies to be gained by bringing our two very similar operations together, with very low integration risk."


Stephen H. Gordon, chairman and chief executive officer of Commercial Capital Bancorp, Inc., commented, "The merger with Washington Mutual is an attractive financial transaction for our shareholders and links our company with one of the preeminent banking organizations in the country. We believe our core lending and retail banking units will integrate smoothly with Washington Mutual."

The companies noted that the clients of Commercial Capital should expect business as usual. At this time, their accounts, policies and payment procedures remain unchanged. Washington Mutual expects the transaction to add $.04 per share on a GAAP basis to the company's 2007 earnings. The acquisition is expected to be completed in the third quarter of 2006 and is subject to approval of Commercial Capital shareholders and regulatory approvals. Washington Mutual was represented in the transaction by its legal advisors Simpson Thacher & Bartlett LLP. Commercial Capital was represented in the transaction by its financial advisors Credit Suisse Securities (USA) LLC and Sandler O'Neill & Partners L.P. and legal advisors Patton Boggs LLP.


Washington Mutual is one of the nation's leading consumer and small business banks. At March 31, 2006, Washington Mutual and its subsidiaries had assets of $348.67 billion. The company was established in 1889 and currently operates more than 2,600 consumer and small business banking stores throughout the nation. Washington Mutual's press releases are available at www.wamunewsroom.com.


Commercial Capital Bancorp, Inc. is a diversified financial services company with $5.5 billion of total assets, at December 31, 2005. Commercial Capital Bancorp provides depository and lending products and services under the Commercial Capital Bank brand name, and provides 1031 exchange services to income property investors nationwide under the TIMCOR Exchange Corporation, North American Exchange Company and Lawyers Asset Management brand names.

Fannie Mae Mortgage Relief for Tennessee Tornado Victims

Fannie Mae Announces Mortgage Relief for Tornado Victims in Middle Tennessee
WASHINGTON, DC --

Fannie Mae (FNM/NYSE) has mortgage relief provisions in place for Middle Tennessee borrowers facing hardships as a result of the tornados that caused widespread damage in the area on April 7. Using Fannie Mae's servicing guidelines, which outline disaster relief provisions, lenders make individual case-by-case evaluations as to the appropriate relief measures needed and can help borrowers in several ways, including suspending mortgage payments for up to three months, reducing the payments for up to 18 months, or in more severe cases, creating longer loan payback plans.

Such assistance is designed to meet the individual needs of borrowers. Fannie Mae's servicing guidelines also advise lenders to counsel borrowers on all possible mortgage payment work-out options, and to inform homeowners of disaster relief available from federal agencies. Payment relief is available for single-family mortgages (including condos) serviced by Fannie Mae lenders in areas affected by the tornadoes.

Holders of Fannie Mae mortgage securities will be paid as usual during the relief period.
Mortgage lenders doing business with Fannie Mae will, according to Fannie Mae's servicing guidelines, determine appropriate relief steps by considering: any uninsured losses; extended unemployment; and extraordinary expenses related to the storms that affect mortgage payments. For information on mortgage relief, homeowners who have experienced disaster hardships should contact the lender to whom they send their monthly mortgage payment.

Countrywide Sponsors Rebuilding Together

Countrywide Marks 10th Year as National Sponsor of Rebuilding Together
04/21/2006

Company Provides Financial Support, Volunteers to National Programs and Local Projects .
CALABASAS, Calif., April 21, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Countrywide Financial Corporation (NYSE: CFC), the nation's #1 residential home loan lender*, and Countrywide employees are celebrating their tenth year of volunteer service and financial support to Rebuilding Together and its efforts to rehabilitate low-income homes and communities across America. Countrywide began its affiliation with Rebuilding Together with volunteers working on home rehab projects in four communities in April 1997.

This year, the company and its employees are committed to working on more than 150 projects in over 100 communities nationwide. Up to 1,500 Countrywide employees are anticipated to participate in at least one Rebuilding Together project this year.

Over the first nine years, they have donated more than 7,000 volunteer workdays to local Rebuilding Together activities in every region of the country. "Through Rebuilding Together, as our core philanthropy, Countrywide is able to extend its founding mission of promoting homeownership to the preservation of safe, comfortable, secure and accessible homeownership for those in need," said Stanford L. Kurland, president and chief operating officer of CFC. "As Countrywide has rapidly grown into the nation's leading mortgage lender and a provider of diverse financial services over the last 10 years, our corporate and volunteer commitment to Rebuilding Together has developed, as well. We recognize the value of the work done by Rebuilding Together to keep people in their homes and improve communities, and our employees enjoy a sense of fulfillment from the experience of helping homeowners remain in place." More than half of Countrywide's Rebuilding Together projects in 2006 will take place on Saturday, April 29, the non-profit organizations annual National Rebuild Day. That's the biggest single day of work in Rebuilding Together's year-round effort aimed at rehabilitating the homes of nearly 9,000 low-income elderly, disabled and families with children, as well as non-profit facilities serving low-income communities.

More than 240 Rebuilding Together affiliates across the country plan to rally more than a quarter million volunteers to complete the needed work, which is estimated by the charity to have a market value approaching $100 million. In addition to supporting both Rebuilding Together's national office and more than 150 local projects in communities where its employees are providing volunteer labor, Countrywide recently helped the organization initiate two new efforts with a pair of special grants of up to $1 million each.

Countrywide is the founding sponsor of Serving Those Who Serve(SM), providing home modifications for severely injured veterans of Operations Iraqi Freedom and Enduring Freedom.

Through its Rebuilding with Countrywide initiative in the Gulf Coast region, the company is providing the lead funding for Rebuild 1,000!, Rebuilding Together's effort to repair 1,000 low-income homes damaged in Hurricanes Katrina and Rita. "We were very excited when Countrywide became a national sponsor of Rebuilding Together with a $100,000 contribution in 1997, and could only have dreamed that the relationship would develop into the many-faceted, multi-million-dollar program of support that it has become in 2006," said Patricia Riley Johnson, president and chief executive officer of Rebuilding Together. "Countrywide's financial contributions, the volunteer efforts of its employees across the country, and their constant focus on homeownership and community development have proven invaluable to the growth and success of Rebuilding Together."

Wells Fargo Environmental Advisory Board

Wells Fargo Creates Environmental Advisory Board San Francisco — March 30, 2006

Eight nationally-known environmental experts from industry, academia and non-profits have been named to Wells Fargo & Company’s (NYSE: WFC) new Environmental Advisory Board – part of the Company’s 10-point commitment to more effectively integrate environmental responsibility into its business practices and procedures.

The eight are: Suzanne Apple, vice president for Business and Industry, World Wildlife Fund, Washington, D.C. Twelve years in forestry and community relations; senior fellow, WWF’s Global Forest Program, managing corporate partnerships with U.S.-based corporations that procure wood and wood products globally; former vice president of community affairs and environmental programs, The Home Depot...Forescee Hogan-Rowles, president, CEO, Community Financial Resource Center (CFRC), Los Angeles. Manages financial service provider targeting business owners and residents of low-income communities in Los Angeles County; serves as Commissioner of the Department of Water & Power; Board of Directors for Opportunity Network; Board of Advisors, Federal Home Loan Bank of San Francisco...David Hudnall, Corporate Forestry Resources Environmental Manager – USA, Canada & Chile, Louisiana Pacific Corporation, Nashville, Tenn. Almost 30 years experience in the forestry industry, covering a full spectrum of forestry issues including sustainable forestry and environmentally-friendly construction...Dr. Charles Kennel, director, vice chancellor and dean of Marine Sciences, Scripps Institution of Oceanography, University of California, San Diego (UCSD). Member of the National Academy of Sciences since 1991; served on the Pew Oceans Commission, and the NASA Advisory Council; leading effort to develop a campus-wide UCSD environmental sustainability initiative...Randall R. LaBauve, vice president, Environmental Services, Florida Power & Light Company (FPL). Nearly 20 years in environmental law and management; leads FPL Group’s environmental strategy, licensing, compliance and environmental relations, one of nation’s leading environmental programs; FPL Group’s wholesale energy generating subsidiary is a leading producer of electricity from clean and renewable fuels...Jean Pogge, executive vice president, ShoreBank, Chicago, Ill. Twenty-five years in management; executive of the country’s first and leading community development and environmental bank...Bettina von Hagen, vice president, Ecotrust, Portland, Ore. Head of forestry programs for the Natural Capital Fund, $20 million fund that invests in conservation businesses and initiatives.
Stuart Patrick Woolf, president, CEO, Woolf Enterprises, Huron, Calif. Twenty years experience in agriculture; family-owned producer, processor of agricultural commodities.

“This outstanding group of environmental experts, representing diverse perspectives and expertise, will help Wells Fargo bring a thoughtful and balanced approach to integrating environmental considerations into our business practices,” said John Stumpf, Wells Fargo’s president and chief operating officer. “They’ll also be our eyes and ears in industry, academia and non-governmental organizations to make sure we anticipate emerging environmental issues in our communities and globally.”

Members were selected for their demonstrated experience, expertise, insight, and leadership in environmental and community affairs. Wells Fargo is committed to being environmentally responsible in every community in which it does business.

The Company integrates environmental responsibility into its business practices and procedures, and has pledged to make $1 billion in lending and other financial commitments by 2010 in environmentally beneficial business opportunities. Wells Fargo & Company is a diversified financial services company with $482 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,200 stores and the internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only bank in the United States to receive the highest possible credit rating, “Aaa,” from Moody’s Investors Service.

New Vice Chair for KeyCorp

Beth Mooney Joins KeyCorp as Vice Chair; Will Lead Company's Community Bank

CLEVELAND, April 4 /PRNewswire-FirstCall/ -- KeyCorp (NYSE: KEY) announced today that Beth Mooney has joined the company as a vice chair of the corporation and will lead Key's 13 state community banking organization. With nearly 30 years of banking experience, Mooney has a deep understanding of retail banking, commercial lending and real estate financing.

Prior to her most recent position as senior executive vice president and chief financial officer for Alabama-based AmSouth Bancorporation, she ran its banking operations in Tennessee and Northern Louisiana. She also completed other line assignments of increasing responsibility at Bank One Corporation, Citicorp Real Estate, Inc., Hall Financial Group and Republic Bank of Texas/First Republic. At Bank One, for example, Mooney served as regional president in Akron and Dayton, and then president of Bank One Ohio. "In her prior positions, Beth has excelled at creating a strategic vision and driving for superior results," said Key CEO Henry L. Meyer III. "The combination of her demonstrated ability to improve the performance of a business, her clear leadership qualities and her technical expertise -- rounded out by her recent CFO experience -- made her an ideal fit for this critically important job." Last year, USBanker rated Mooney one of the "25 most powerful women in banking." In 2006, the publication listed her as fifth among the top 10 banking CFOs.

As head of Key's community banking organization, Mooney is responsible for retail and commercial banking, and the McDonald Financial Group (MFG), businesses that produced nearly $2.9 billion in revenue in 2005.

The community banking organization has 950 KeyCenter branches, more than 2,100 ATMs and 55 McDonald offices across its franchise. "Beth's addition completes the rebuilding of our senior management team," Meyer noted. "That we continue to attract extraordinary talent reflects Key's turnaround over the past five years. Over that time, we have changed our business mix, addressed our asset-quality issues and become far more client- centric, all activities that have repositioned us for growth." Reporting to Mooney are: George E. Emmons, who heads the community bank's sales organization, Robert B. (Yank) Heisler, who leads MFG; and the senior staff of the Retail Group. Timothy J. King, who was responsible for the Retail Group, now is working with Chief Administrative Officer Thomas C. Stevens on strategic and business initiatives. Mooney is a graduate of The University of Texas and received her MBA from Southern Methodist University. While working in Ohio, she served on the boards of numerous civic and community organizations, including the Ohio Foundation of Independent Colleges, Ballet Met and the Miami Valley Economic Development Coalition, among others. She was similarly involved in community and civic work in Nashville and Birmingham.

Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $93 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.

Freddie Mac Joins LHFA In Louisiana Mortgage Initiative

SENATORS LANDRIEU, VITTER HAIL FREDDIE MAC, LHFA'S $36 MILLION

Statewide Mortgage Initiative Also Targets Police, Teachers, Low-Income Borrowers
New Orleans, LA – Senators Mary L. Landrieu (D-LA) and David Vitter (R-LA) joined Eugene McQuade, president of Freddie Mac (NYSE:FRE) and officials from the Louisiana Housing Finance Agency (LHFA) today to announce nearly $36 million in new below market 30-year fixed rate mortgages and $1 million in downpayment and closing costs assistance to promote recovery in federally designated hurricane disaster areas and foster homeownership opportunities for police officers, teachers, and qualified low-income borrowers.

Freddie Mac, one of the nation's largest investors in residential mortgages, is buying $36 million of LHFA tax-exempt mortgage revenue bonds for its investment portfolio as part of the $1 billion commitment it made last year to help finance the Gulf Coast's recovery from last year's storms. "This $36 million investment in affordable mortgages is very good news for Louisiana families, particularly those most devastated by Hurricanes Katrina and Rita. I want to thank Freddie Mac and others in the state for their work to provide affordable homeownership for our citizens," said U.S. Sen. David Vitter. "I'm particularly pleased to see that some of this funding will benefit first responders. Our first responders and other essential personnel play such a key role in the recovery of south Louisiana, and this will continue the momentum as we rebuild and revive Louisiana's communities." "This is $36 million in critical new mortgage funding for Louisiana," said Senator Mary L. Landrieu. "Our homes and neighborhoods may have been destroyed by the catastrophes of Hurricanes Katrina and Rita and the subsequent levee breaks, but the spirit of our people can never be taken away. Freddie Mac and the Louisiana Housing Finance Agency have stepped up as two of Louisiana's most reliable, willing and enthusiastic partners for rebuilding our storm-damaged homes and communities. I want to thank them for keeping their pledge to our families by fulfilling their public mission to keep homeownership strong." "Today's announcement marks a new opportunity for families across Louisiana to achieve home-ownership and for storm victims to repair, build and reinvigorate their communities," said Eugene McQuade, President and Chief Operating Officer of Freddie Mac. "I want to thank Senators Landrieu and Vitter, the LHFA and their colleagues for giving us the opportunity to work with them and to fulfill our Congressional mission to keep mortgage financing stable, liquid and affordable at such a critical time in Louisiana's recovery."

Altogether the new bond initiative will provide an estimated 300 borrowers with 5.35 percent or lower 30-year fixed rate mortgages that can be used to repair existing homes or purchase new ones. In addition, subsidies from the Police Foundation, LHFA and $1 million from the state of Louisiana's federal HOME grant are being used to subsidize special mortgage set-asides with even lower rates for police, teachers, and low-income borrowers. In some cases, borrowers may be able to qualify for 30-year fixed rate mortgages with rates as low as 3.85 percent.
"This effort, consistent with our Agency's mission, reflects the effectiveness of those strong partnerships necessary to rebuild our hurricane-devastated Louisiana," said Helena Cunningham, President of Louisiana Housing Finance Agency. "The LHFA is proud to be a part of this financing initiative and looks forward to the continued creativity in providing financing of our depleted housing stock." LHFA is giving special priority to federally designated disaster areas in order to add momentum to the state's storm recovery efforts and historically underserved parishes targeted for urban revitalization. The mortgages, are available on a first-come, first-serve basis through a list of participating lenders that can be found on LHFA's website (www.lhfa.state.la.us). In an effort to help more borrowers caught in the 2005 storms, LHFA is waiving its usual first-time homebuyer requirement and raising its cap on home repair loans from $15,000 to $150,000 under special provisions in the 2005 Katrina Emergency Tax Act.

To be eligible for the new mortgages, borrowers can earn no more than 140 percent of their area median income. Today's announcement builds on Freddie Mac's ongoing effort to rebuild the Gulf Coast communities devastated by Hurricanes Katrina and Rita.

Freddie Mac has also financed $120 million in Mississippi Home Corporation bonds, provided MHC with $900,000 to buy 35 travel trailer units for use as temporary housing for displaced families and more than $1 million for rental units and credit counseling to storm victims. In addition, Freddie Mac adopted emergency policies that temporarily suspended mortgage collections from many single and multifamily borrowers affected by the storm, assured forbearance for National Guard members involved in recovery operations, financed as much as $300 million in pre-storm loans closed on homes in federally-designated disaster areas, and joined with the Freddie Mac Foundation to donate $10 million to hurricane relief organizations.
For more information, contact Louisiana Housing Finance Agency at 225-763-8700 ext. 275.
Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing.

Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers and nearly four million renters in America.

US Bank's Five Star Service Guarantee

U.S. Bank Celebrates Years of Service as Its Five Star Service Guarantee Turns 10
MINNEAPOLIS--(BUSINESS WIRE)--April 6, 2006--U.S. Bank will celebrate the 10-year anniversary of its exclusive Five Star Service Guarantee by honoring the true stars of the company - its nearly 50,000 employees - for their years of service.

The celebration coincides with the launch of a new advertising campaign that asks, "How many stars does your bank have?" Now in its second year, the U.S. Bank Years of Service Week will recognize nearly 7,000 employees who in 2006 reach a milestone anniversary of 5, 10, 15, 20, 25 or 30 years with the company.

These individuals will receive a commemorative anniversary stone pin that corresponds with their years of service. Seven individuals will be recognized for reaching milestone anniversaries of 50 years or more. The 2006 Years of Service Week also marks the 10-year anniversary of the Five Star Service Guarantee, which was introduced on April 10, 1996. It remains the only guarantee of its kind in the banking industry, paying customers for events in which specific service levels are not met. "It's fitting that so many of our service oriented programs and initiatives are aligning in April, when we also celebrate the 10-year anniversary of our signature Five Star Service Guarantee. It truly is the heart of our brand and symbolic of how we approach our business and the partnership we have with our customers," said Richard Davis, president and chief operating officer of U.S. Bancorp. The Five Star Service Guarantee will receive nationwide exposure as new television and print advertisements also begin in April.

The humorous spots, created by The Kaplan Thaler Group in New York, challenge consumers to think about the service they receive from their current bank and ask, "How many stars does your bank have?" The television spots are running frequently on 292 stations in 24 states.
U.S. Bank will promote the new campaign with an online sweepstakes April 10 through May 10 that will award a $50 Visa gift card to 10 winners daily and enters the participant in a sweepstakes in which $10,000 will be awarded at the end of the promotion. U.S. Bank will also introduce a new home equity program that was tremendously popular in its markets in 2004.

The U.S. Bank EquiLine Rate Reward is a home equity line of credit in which the interest rate decreases one-quarter of one percent (0.25 percent) every six months up to one full percent below prime. In addition, the reward is portable, so if the customer ever needs to close the line, the reward that he or she has earned can be applied to a new home equity line at U.S. Bank. For more information call 1-888-444-2265.

Countrywide Supports 'Serving Those Who Serve' Initiative

Countrywide Pledges $1 Million to Serving Those Who Serve(SM)
03/27/2006

Founding Sponsor Honors Virginia Army Reservist With Ongoing Commitment to Rebuilding Together's Home Modification Program for Severely Injured Veterans - Additional Funding Sought From Other Companies, Foundations, Individuals -

CALABASAS, Calif., March 27 /PRNewswire-FirstCall/ -- Countrywide Financial Corporation (NYSE: CFC), America's #1 home loan lender* and a provider of diverse financial services, announced Monday that it will extend and expand its support of Rebuilding Together's Serving Those Who Serve initiative for at least two years.

Countrywide has pledged $1 million for the program that provides free home modifications for American military personnel returning from Iraq or Afghanistan with debilitating injuries.
The company has been the founding sponsor of the initiative, announced on Capitol Hill in September. Since then, the program has transformed the homes of three severely injured soldiers.

These projects have facilitated Rebuilding Together's development of the model and building of the infrastructure for the ongoing program. The $1 million contribution was announced during a ceremony at the Manassas Park, VA, home of Joseph and Eva Briseno and their son, Jay, where Rebuilding Together and Countrywide volunteers were completing the third and final introductory project under Countrywide's founding grant. In June 2003, Jay Briseno was shot in the back of the neck while serving as a Civil Affairs Specialist with his U.S. Army Reserve unit in a Baghdad marketplace. His spinal cord was severely damaged, leaving him paralyzed from the chin, down. He lapsed into a coma and had two heart attacks that resulted in anoxic brain damage. Nearly three years after being shot in the line of duty, the 22-year-old veteran still requires a ventilator to help him breathe and a feeding tube for some of his nourishment.

Officials describe him as one of the most severely-injured soldiers to return from Iraq alive.
On Monday, Rebuilding Together volunteers, including about 20 Countrywide employees, were completing extensive modifications to Jay's basement living area to better accommodate his needs and make it easier to care for him. The work included widening and installing doors, rebuilding the bathroom to provide wheelchair accessibility to the shower, painting, upgrading electrical services and lighting, installing a back-up power generator for life support equipment, constructing a screened porch and other improvements. "As the founding sponsor of Serving Those Who Serve, Countrywide provided the initial funding for three projects to lay the groundwork for an ongoing program," said Stan Kurland, president and chief operating officer of CFC. "Rebuilding Together has demonstrated there is need for this kind of program; that it can work, with the assurance of long-term support; and that it is too important to be allowed to end after this initial development phase.

"So, Countrywide is privileged to announce that we are committing $1 million to Rebuilding Together to further create the infrastructure and expand the capacity of the Serving Those Who Serve program and continue it for at least the next two years," Kurland said. "We are making this commitment in honor of Jay Briseno and the entire Briseno family for their service and sacrifice, and as representatives of the thousands of American heroes in similar situations."

While costs for modifications vary with work scope, contributions of supplies and the extent of volunteer labor, Rebuilding Together and Countrywide expect the $1 million contribution will permit home modifications for up to 70 veterans. Additional donations from individuals, foundations and businesses are being sought to provide for further expansion of the program and increase the value of modifications that can be undertaken. "As the nation's leading volunteer organization rehabilitating low-income homes, Rebuilding Together has developed tremendous expertise in the field of home modifications that aid elderly and disabled individuals," said Patty Johnson, president and CEO of Rebuilding Together. "When Countrywide, wanted to develop a program to assist injured veterans, it was a natural extension of our work. We appreciate Countrywide's support over the past six months as the founding sponsor, and particularly are grateful that the company has chosen to expand and continue this work in honor of Jay Briseno and all who have sacrificed in service to our country.

"Countrywide's million-dollar commitment allows Rebuilding Together to move forward with hiring a program manager to bring Serving Those Who Serve up to full speed, and demonstrates the kind of strong corporate leadership that will promote additional fundraising," Johnson added. Countrywide is in its tenth year as a major corporate sponsor of Rebuilding Together's core program which will provide needed home renovations to about 9,000 low-income homeowners who are elderly, disabled and families with children this year. Countrywide volunteers will be working on company-sponsored Rebuilding Together projects in more than 100 communities this spring, the majority of them on Saturday, April 29, designated as the charity's "National Rebuild Day." In addition, the company has provided up to $1 million in lead funding for Rebuild 1,000, Rebuilding Together's special initiative to repair at least 1,000 hurricane-damaged homes for low-income residents in the Gulf Coast region. When the hurricanes hit last fall, planning was well underway for the announcement of Serving Those Who Serve.

In an ambitious undertaking, Countrywide and Rebuilding Together agreed that Serving Those Who Serve could not be given a backseat to hurricane relief, and they needed to move forward on both of these important new programs without delay. To date, more than 17,000 American servicemen and servicewomen have been injured in Operation Iraqi Freedom and Operation Enduring Freedom. Approximately 8,000 have returned from service in the Middle East with debilitating injuries. More than half of the injured are members of the armed forces reserves or National Guard, called away from their families and civilian jobs or, like Jay Briseno, college studies, in duty to the nation.

These injured Reservists and Guardsman may not be eligible for many of the long-term services of the regular military health care delivery system. Serving Those Who Serve can assist veterans who have suffered loss of mobility (including loss of limb and paralysis), loss of sight, loss of hearing, or traumatic brain injury. To qualify for the home modification program, a veteran must have been severely injured while on active duty with American forces in Operation Iraqi Freedom or Operation Enduring Freedom.

The home must be the primary residence of the injured veteran and owned by the qualifying veteran or his or her family. Priority is given to veterans and families with income limitations.
More than 30 members of Congress have signed on to the Serving Those Who Serve honorary advisory committee. Co-chairs are Senators Dianne Feinstein (D-CA) and Ted Stevens (R-AK), and Representatives Spencer Bachus (R-AL) and Silvestre Reyes (D-TX). Actor Jessica Biel is a Serving Those Who Serve volunteer and celebrity spokesperson for the initiative. She is currently filming "Home of the Brave," a movie in which she plays a veteran returning from Iraq with a debilitating injury. Biel features Serving Those Who Serve and Rebuilding Together on the Make The Difference Network Web site (www.mtdn.net) that she co-founded.
Requests and referrals for assistance through Serving Those Who Serve may be made on line at www.servingthosewhoserve.org.

Business firms and foundations interested in more information about becoming national sponsors of Serving Those Who Serve should call Jennifer Shreve, director of development for Rebuilding Together, at (800) 4-REHAB-9, or send an e-mail to her at Jennifer_Shreve@RebuildingTogether.org.

Individual donations may be made on line at www.servingthosewhoserve.org, or may be sent to Rebuilding Together, 1536 16th St. N.W., Washington, DC 20036.
*As ranked for 2005 by Inside Mortgage Finance (Jan. 26, 2006), (C)2006
About Countrywide...Founded in 1969, Countrywide Financial Corporation is a member of the S&P 500, Forbes Global 2000 and Fortune 500. Through its family of companies, Countrywide provides mortgage banking and diversified financial services. Mortgage banking businesses include loan production and loan servicing principally through Countrywide Home Loans, Inc., which originates, purchases, securitizes, sells, and services prime and nonprime loans; and loan closing services provided by the LandSafe group of companies. Diversified financial services encompass banking, capital markets and insurance, largely through the activities of Countrywide Bank, N.A., a bank offering depository and home loan products; Countrywide Capital Markets, a mortgage-related investment banker with offices in the U.S., U.K. and Japan; Balboa Life and Casualty Group, whose companies are national providers of property, life and casualty insurance; and Balboa Reinsurance, a captive mortgage reinsurance company. Headquartered in Calabasas, California, Countrywide has a global work force of more than 50,000 and more than 800 offices. For more information about the company, visit Countrywide's website at www.countrywide.com.

Wachovia Corp. Raises Prime Interest Rate

WACHOVIA CORPORATION RAISES PRIME RATE CHARLOTTE, N.C. –

Effective today, Wachovia Corporation raised its prime interest rate to 7.75 percent from 7.50 percent at Wachovia Bank, National Association and all of its other banking subsidiaries.
The prime rate is a benchmark used to set interest rates on various forms of corporate and consumer credit. It is one of several interest rate bases used by Wachovia, which lends at interest rates above and below the prime rate. The prime rate last changed on Jan. 31, 2006.
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, providing 13.4 million household and business relationships with a broad range of banking, asset management, wealth management and corporate and investment banking products and services.

Wachovia operates as Wachovia Bank through 3,131 offices in 15 states from Connecticut to Florida and west to Texas, and, until merger integration activity is completed, will continue to be known as Western Financial in California. Two core businesses operate under the Wachovia Securities brand name: retail brokerage in 49 states and six Latin American countries, and corporate and investment banking in selected industries nationwide. Globally, Wachovia serves clients through more than 40 international offices. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com, and investment products and services at evergreeninvestments.com. Wachovia had assets of $520.8 billion, market capitalization of $82.3 billion and stockholders' equity of $47.6 billion at December 31, 2005.

ING Financial Results for 2005

ING DIRECT Bancorp Announces Fourth Quarter and Year End Results
ING DIRECT Reaches $40 Billion in Deposits

2005 highlights for ING DIRECT Bancorp:

Net income grew to $176.7 million
Expense growth held to 11%

Deposits reached $40 billion, including a doubling in certificates of deposits
ING DIRECT added 1.2 million customers in 2005, a 52% increase compared to 2004
ING DIRECT Bancorp (Bancorp) today announced unaudited results for the fourth quarter and full year ended December 31, 2005.

ING DIRECT Bancorp consists primarily of ING Bank, fsb (ING DIRECT), the nation’s fourth-largest thrift by assets. In 2005, net income increased 45% to $176.7 million, up from 2004 net income of $122.1 million. For the quarter ended December 31, 2005, Bancorp net income was $42.5 million, compared to $42.8 million for the third quarter of 2005.

Year over year, net interest income increased 16% to $538.6 million, and for the fourth quarter, net interest income grew 3% to $135.8 million. Total assets ended 2005 at $53.2 billion, a 48% increase year over year and a 3% increase from the prior quarter. Despite significant increases in total assets and income for 2005, ING DIRECT was able to contain the increase in non-interest expenses to 11%. ING DIRECT added 1.2 million customers year over year, bringing its total customer base to 3.4 million, an increase of 52%.

Total deposits reached the $40 billion mark at year-end 2005, a 39% increase compared to the prior year. Included in this growth was an increase in certificates of deposits from $2.6 billion to $5.3 billion.

“2005 was a very strong year for ING DIRECT, and we are pleased with our results,” said Arkadi Kuhlmann, President and CEO, ING DIRECT. “At a time when national data indicate a negative savings rate, we have been able to attract a depositor base that is running counter to the trend. Our significant customer growth underscores Americans’ increasing enthusiasm for saving with us, and our straightforward value proposition has put more than $2.1 billion back in savers’ pockets – $1.4 billion more than would have been earned at other U.S. banks and thrifts over the same period. We look forward to continuing to make it easy and simple for consumers to save their money.” “Bancorp’s solid results were achieved despite a flattening yield curve and a continued increase in the cost of funds,” Kuhlmann noted. “Maintaining our profitability levels compared to less challenging quarters is a testament to our business. We will continue to emphasize long-term value creation for our customers and our business as we maintain our focus on cost containment in order to pass along the maximum savings to our customers.”
In 2005, real estate mortgage lending increased $3.0 billion or 30% to $12.9 billion, compared to $9.9 billion in 2004 and grew $644 million in the fourth quarter. The $12.9 billion referred to above includes the Orange Mortgage loan portfolio of $5.5 billion, a 61% increase compared to $3.4 billion in 2004.

Included in the $2.1 billion increase in Orange Mortgage balances is the origination of 10,566 single family adjustable rate Orange Mortgages, a 9% account volume increase compared to 2004. In the fourth quarter of 2005, ING DIRECT originated 3,292 single family adjustable rate Orange Mortgages, a 24% account volume increase compared to the third quarter 2005. “Borrowers are seeing the value of ING DIRECT’s lending capabilities, and we are pleased with our year over year growth in lending,” Kuhlmann continued. “ING DIRECT will continue to add services that champion customers’ needs and contribute to our bottom line.”

Quicken Loans Internet Home Lending Center in Cleveland

Quicken Loans Internet Home Lending Center to Open in Downtown Cleveland’s MK-Ferguson Building on April 3, 2006...Center projected to create more than 300 jobs and generate between $25 and $30 million in annual salaries.

Cleveland, Ohio, March 23, 2006 - Cleveland Mayor Frank Jackson and Quicken Loans Chairman and founder Daniel Gilbert, who also is majority owner of the Cleveland Cavaliers and operator of the Quicken Loans Arena, today announced that Quicken Loans’ new Internet Home Lending Center will open in downtown Cleveland on April 3, 2006.

This is the first out-of-state facility for Quicken Loans, which is the nation’s largest online home lender. The company is based in Livonia, Michigan. The Quicken Loans Internet Home Lending Center will be located in the MK-Ferguson Building (the former U.S. Post Office) at 1500 W. Third Street in Cleveland’s Central Business District. Quicken Loans has leased 45,000 square feet on the building’s fifth floor from Forest City Enterprises Inc. The space currently is being renovated to incorporate the company’s state-of-the-art technology and home loan training facilities. Led by 11-year Quicken Loans veteran, Vice President Jeffrey Perry, the Internet Home Lending Center will initially open with 50 employees who will advise and assist clients in all 50 states with their home financing needs.

Quicken Loans will continue to hire and train approximately 15 to 20 new employees per month in Cleveland. The new location is expected to create between 300 and 350 new positions within the first two or three years. When fully operational, the center is projected to generate between $25 and $30 million in annual salaries and $3 to $4 billion in annual closed loan volume. “I applaud Quicken Loans’ decision to make this significant investment in Ohio,” said Lt. Governor Bruce Johnson, who also serves as state development director. “This project is a great example of how companies are recognizing that ‘Ohio Means Business’ and are increasingly looking to our state for their location and expansion needs. With our new, competitive tax structure, companies like Quicken Loans will be profitable, and Ohio and its residents will benefit with good jobs and a positive business climate.” “Quicken Loans’ new business venture in Cleveland demonstrates that the City of Cleveland is a great place to live and work,” said Cleveland Mayor Frank Jackson. “Dan Gilbert’s willingness to work with the City and invest in Cleveland is an example of the type of public-private partnerships we need to make Cleveland a 24-hour city.”

“The State of Ohio and Mayor Jackson’s office have been extremely cooperative and helpful in bringing this project to fruition,” said Dan Gilbert. “This partnership has achieved a big win for the community, our current and future employees, and our company.” "Locating a new Home Lending Center in Cleveland allows us to draw off the energy and momentum of the new and improved Quicken Loans Arena and the Cleveland Cavaliers," he continued. “Downtown Cleveland is vibrant and dynamic. It’s a great place for work and entertainment, and provides an exceptional quality of life for many of our employees who are choosing to live downtown.” "We're extremely gratified that Quicken Loans chose MK-Ferguson/Tower City for their new home. This building provides a perfect location for Quicken Loans,” said Forest City Enterprises' Senior Vice President of Office Leasing & Development, Patrick Lott. “Connected to the Tower City Center via the Gateway connector, it’s within walking distance of the Quicken Loans Arena and other sports venues, as well as restaurants, nightlife, shopping and museums.” Cleveland-based design and construction firms Vocon and Infinity are providing architectural and design services, and overseeing the construction build-out.

Washington Mutual News 4/3

Washington Mutual, Inc. Announces the Convertibility of New American Capital, Inc. 4% Convertible Senior Notes Due May 15, 2008

SEATTLE, Apr 03, 2006 (BUSINESS WIRE) -- Washington Mutual, Inc. (NYSE:WM) today announced that New American Capital, Inc.'s 4% Convertible Notes due May 15, 2008 (the "Notes") will be convertible into shares of Washington Mutual common stock and cash during the quarter ended June 30, 2006. New American Capital, Inc., a wholly-owned subsidiary of Washington Mutual, Inc., is the successor by merger to Providian Financial Corporation ("Providian").

The Notes were originally issued by Providian pursuant to a supplemental indenture between Providian and Bank One Trust Company, N.A., as Trustee, dated May 27, 2003, which was amended by a supplemental indenture by and among Providian, Washington Mutual, Inc., New American Capital, Inc., and J.P. Morgan Trust Company, National Association (as successor trustee) dated as of October 1, 2005 (as so amended, the "Supplemental Indenture").
The Notes are convertible pursuant to Section 2.01(a)(i) of the Supplemental Indenture, which provided that the Notes are convertible if the closing price of Washington Mutual's common stock exceeded $31.80 per share (110% of the conversion price) for at least 20 trading days of the 30 consecutive trading day period ending on the last day of the preceding calendar quarter.

Holders of the Notes may convert the Notes into shares of Washington Mutual common stock and cash during this fiscal quarter (April 1, 2006 until June 30, 2006) at the conversion rate in effect at the time of conversion. With a history dating back to 1889, Washington Mutual is a retailer of financial services that provides a diversified line of products and services to consumers and commercial clients. At December 31, 2005, Washington Mutual and its subsidiaries had assets of $343.12 billion.

Washington Mutual currently operates more than 2,600 retail banking, mortgage lending, commercial banking, and financial services offices throughout the nation. Washington Mutual's press releases are available at www.wamunewsroom.com.

SOURCE: Washington Mutual, Inc.

Wells Fargo- Home Ownership Essay Contest

Wells Fargo Home Mortgage Seeks Inspirational Essays About the Benefits of Homeownership"Take the Challenge™" Contest Offers up to $250,000 After Taxes For Most Inspirational Essay

Des Moines, Iowa — March 10, 2006

Wells Fargo Home Mortgage announced today it will award up to $250,000 (after taxes) toward the purchase of a home to one person through its Take The Challenge™essay contest.

The nation’s No. 1 retail mortgage lender will award the grand prize to the person who provides the most compelling first-person account of their pursuit of home ownership and who has either purchased a home in 2006, or has plans to buy a first home, second home or investment property in the next three years.

The up-to $250,000 after-tax winnings must be applied to a home purchase and entrants must agree to have their essays shared. Each essay will be reviewed by an independent panel of judges and the winner announced in March 2007.

Wells Fargo Home Mortgage launched this contest as part of its founding sponsorship of The Great American Homeowner Challenge™ , a nationwide educational effort in conjunction with financial coach and No.1 best-selling author David Bach to inspire 10 million Americans to buy their first home, a second home or investment property in the next three years. Bach’s latest book, The Automatic Millionaire Homeowner™, motivates renters and current homeowners to reach their financial goals through homeownership.

Through the essay contest, Wells Fargo intends to unearth motivational stories of personal and financial success through homeownership. “We want the essays written for the Take The Challenge contest to inspire others on the road to a home purchase,” said Cara Heiden, division president of Wells Fargo Home Mortgage. “This is a great way for both renters and current homeowners to publicly express how owning a home can make a difference in their lives.” David Bach, who conducts popular seminars across North America based on the content of his best-selling books, Smart Women Finish Richsm , Start Late Finish Richsm , and The Automatic Millionairesm agrees.

“Many of the success stories people have shared with me over the years focus on how homeownership has been the key to their financial security. I’m confident these essays will inspire millions of renters to work toward their first home and millions of current homeowners to consider second homes or investment properties as a road to building financial freedom,” Bach said.

Contestants can enter up to a 350-word essay from one of three submission categories:

• Why I want to be a homeowner
• The challenges I overcame to become a homeowner
• How homeownership has built my personal/family wealth and security

To enter or learn more about the contest, including the rules for submitting an entry, go to
www.wellsfargo.com/challenge or www.finishrich.com/wellsfargohome.

About Wells Fargo Home Mortgage
Celebrating its centennial year, Wells Fargo Home Mortgage is the nation’s No. 1 retail mortgage lender and a leading servicer of home mortgages. As a division of Wells Fargo Bank, N.A., it has a local presence in more than 2,400 mortgage stores and bank branches, plus the capabilities to serve the home financing needs of customers nationwide through its call centers, Internet presence, and wholesale lending operations. Wells Fargo Home Mortgage services loans for approximately 5.7 million customers in all 50 states from its base of operations in Des Moines, Iowa.

About David Bach and FinishRich Media
The founder and Chairman of FinishRich Media, a company dedicated to revolutionizing the way people learn about money, Bach is the author of six consecutive national bestselling books, including two # 1 New York Times business bestsellers, Start Late, Finish Rich and The Automatic Millionaire, as well as the national and international bestsellers Smart Women Finish Rich, Smart Couples Finish Rich, The Finish Rich Workbook, and The Automatic Millionaire Workbook. In all, his FinishRich books have been published in more than 15 languages, with more than 4 million copies in print in the U.S alone. Currently a featured contributor and columnist at Yahoo.com, Bach is also the creator of the FinishRich® seminar series, which highlights his quick and easy-to-follow financial strategies, and which has been taught to more than 750,000 people nationwide.

No purchase necessary. Must be legal resident of 50 U.S. or DC and at least 18 (19 in AL and NE) to enter. Ends on 12/31/06. Visit www.wellsfargo.com/challenge for details and full Official Rules. Void where prohibited. Sponsor: Wells Fargo Home Mortgage, a division of Wells Fargo Bank N.A., Des Moines, Iowa. **Based on year-end 2005 statistics compiled by Inside Mortgage Finance - Feb. 17, 2006