August 30, 2007   7:56 AM KBW Mortgage Finance Index (MFX)
Total Issues = 24     (1000's) Current % Of Ind Move Previous   Qrtly
Issue Symbol Open Last Shares Market_Values MV $1 Change Shares Ex Date DIV
Astoria Financial Corp. AF 0.00 27.58     288,000 7,943,040.00 4.45% 0.14     288,000 08/13/07 0.26
Bank United Financial Corporation BKUNA 0.00 13.93     210,000 2,925,300.00 1.93% 0.09     210,000 09/12/07 0.01
Popular, Inc.  BPOP 0.00 12.35     464,000 5,730,400.00 3.28% 0.22 464,000 09/12/07 0.16
Countrywide Financial, Inc.  CFC 0.00 18.80     444,000 8,347,200.00 5.21% 0.21     444,000 08/13/07 0.15
Corus Bankshares Inc. CORS 0.00 13.15       97,000 1,275,550.00 0.57% 0.03       97,000 09/24/07 0.25
DR Horton Inc. DHI 0.00 14.37     315,000 4,526,550.00 2.69% 0.15     315,000 08/15/07 0.15
Downey Financial DSL 0.00 53.12     115,000 6,108,800.00 3.67% 0.05     115,000 08/06/07 0.12
Flagstar Bank FBC 0.00 9.61     234,000 2,248,740.00 1.52% 0.10     234,000 09/12/07 0.10
FirstFed Financial Corp. FED 0.00 52.00     123,000 6,396,000.00 3.65% 0.06     123,000
First Horizon National FHN 0.00 27.03     216,000 5,838,480.00 3.73% 0.10     216,000 09/12/07 0.45
Fidelity National Financial, Inc. FNF 0.00 17.54     282,000 4,946,280.00 2.89% 0.13     282,000 09/11/07 0.30
First Niagara Financial Group, Inc. FNFG 0.00 14.77     485,000 7,163,450.00 4.06% 0.23     485,000 08/03/07 0.14
Fannie Mae FNM 0.00 66.40     207,000 13,744,800.00 11.21% 0.14     207,000 07/27/07 0.50
Freddie Mac FRE 0.00 62.05     249,000 15,450,450.00 9.53% 0.12     249,000 09/13/07 0.50
Hudson City Bancorp, Inc.  HCBK 0.00 15.83     601,000 9,513,830.00 5.09% 0.29 601,000 08/08/07 0.09
Indymac Bancorp IMB 0.00 20.90     226,000 4,723,400.00 3.01% 0.11     226,000 08/07/07 0.50
MGIC Investment Corp. MTG 0.00 34.01     155,000 5,271,550.00 2.79% 0.07     155,000 08/09/07 0.25
NewAlliance Bancshares, Inc. NAL 0.00 15.12     491,000 7,423,920.00 4.32% 0.24 491,000 08/08/07 0.07
New York Community Bancorp NYB 0.00 19.00     335,000 6,365,000.00 5.40% 0.25     335,000 08/02/07 0.25
PMI Group, Inc. PMI 0.00 33.06     197,000 6,512,820.00 3.46% 0.09     197,000 09/26/07 0.05
Sovereign Bancorp, Inc. SOV 0.00 17.21     355,000 6,109,550.00 3.77% 0.17     355,000 07/30/07 0.08
Trustco Bank Corporation TRST 0.00 11.15     156,000 1,739,400.00 0.82% 0.06     156,000 09/05/07 0.16
Washington Federal, Inc. WFSL 0.00 26.54     241,000 6,396,140.00 4.87% 0.15     241,000 10/03/07 0.21
Washington Mutual, inc. WM 0.00 35.47     365,000 12,946,550.00 8.07% 0.18     365,000 07/27/07 0.56
Totals 809.29 6,693,000 159,647,200.00 100% 6,693,000
MFX  Divisor - 1,974,243
MFX  Value - 80.8650