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Moderator: Gary M. Miller, Managing Director, TALL OAKS CAPITAL STRATEGIES,

9:30 TRACK B: THE POTENTIAL FOR A MEXICAN ABCP MARKET. Moderator: Gary M. Miller, Managing Director, TALL OAKS CAPITAL STRATEGIES, (908-347-8527, garymiller64@comcast.net ) Panelists: Raj Sodhi, Director, DEUTSCHE BANK, (212-250-5281, raj.sodhi@db.com )

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Moderator: Gary M. Miller, Managing Director, TALL OAKS CAPITAL STRATEGIES,

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  1. 9:30 TRACK B: THE POTENTIAL FOR A MEXICAN ABCP MARKET Moderator: Gary M. Miller, Managing Director, TALL OAKS CAPITAL STRATEGIES, (908-347-8527, garymiller64@comcast.net) Panelists: Raj Sodhi, Director, DEUTSCHE BANK, (212-250-5281, raj.sodhi@db.com) Mauricio Jannet, Managing Director, GMAC-RFC MEXICO, (52-55-5447-8300, Mauricio.Jannet@gmacrfc.com.mx) Mark David Zaltzman Rifkin, Finance Director, HIPOTECARIA SU CASITA, S.A. DE C.V. (52-55-5481-8365, mzaltzman@sucasita.com.mx) Carla Seifer, Director, STANDARD & POOR’S, (212-438-1735, Carla_Seifer@standardandpoors.com) David Camhi, Associate, THACHER PROFFITT & WOOD LLP, (dcamhi@tpw.com)

  2. Accessing the Debt Capital Markets to finance housing in Mexico October 2007

  3. Revolving facilities with initial ramp-up period & programmed amortization schedule Construction Loan Financing:Fundamental Characteristics of Domestic Structures. How do they work? Negative Carry Effect

  4. For every construction loan securitized, a corresponding VFN is issued. Liquidity provider mitigates disbursement and amortization rate mismatches Swap provider mitigates currency and interest rate mismatches Construction Loan Financing: Excuse me…do you have room for improvement? Construction Loan Attached VFN

  5. Two cross border issuances have been placed in the Cross Border market used to finance housing construction activity Both trusts use an AMBAC wrap on the AAA tranches. Cross currency and basis swaps are used to hedge exchange rate risk. What about the Cross Border market.. Source: BMV

  6. Mark D. Zaltzman Finance Director Hipotecaria Su Casita +52(55) 5481-8365 mzaltzman@sucasita.com.mx

  7. 9:30 TRACK B: THE POTENTIAL FOR A MEXICAN ABCP MARKET Moderator: Gary M. Miller, Managing Director, TALL OAKS CAPITAL STRATEGIES, (908-347-8527, garymiller64@comcast.net) Panelists: Raj Sodhi, Director, DEUTSCHE BANK, (212-250-5281, raj.sodhi@db.com) Mauricio Jannet, Managing Director, GMAC-RFC MEXICO, (52-55-5447-8300, Mauricio.Jannet@gmacrfc.com.mx) Mark David Zaltzman Rifkin, Finance Director, HIPOTECARIA SU CASITA, S.A. DE C.V. (52-55-5481-8365, mzaltzman@sucasita.com.mx) Carla Seifer, Director, STANDARD & POOR’S, (212-438-1735, Carla_Seifer@standardandpoors.com) David Camhi, Associate, THACHER PROFFITT & WOOD LLP, (dcamhi@tpw.com)

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