Housing Finance Group

The Housing Group, which includes professionals from throughout the firm, and is coordinated by the Public Finance Department, consists of the following: Raymond James has a separate and distinct Housing Group in the Public Finance Department. The Housing Group consists of three bankers. The Housing Group provides full services to all its clients including underwriting services, consulting services, analytical services, research services and project services.

Raymond James has extensive experience in all aspects of taxable and tax-exempt housing bond financings. We have become a leader in new innovative programs to assist housing bond issuers in providing affordable housing to their clients. The most notable product that we have successfully issued for three issuers in 2004/2005 is our Loan Commitment Program. In this program, Raymond James takes a bond risk that allows the issuer to make loans prior to a bond closing. This has allowed these programs to adjust with the market and maintain a lower mortgage rate.

Since 1994, Raymond James has increased its role in the negotiated sale of municipal housing bonds as senior and co-manager. In the last year, Raymond James has served such state issuers as Florida Housing Finance Corporation, New York SONYMA and HFA, Georgia Housing Finance Agency, Illinois Housing Finance Agency, New Jersey Mortgage & Housing Agency, Connecticut Housing Finance Agency, Pennsylvania Housing Finance Agency, Indiana Housing Finance Agency, as well as many local issuers.

A partial list of our Innovative Programs and techniques we have successfully used in the past three years.

• Raymond James Forward Program
• Specifically Targeted Groups
• Downpayment Assistance Program
• Stepped Coupon Program
• Taxable Bond Program
• Multiple Mandatory Redemption Program
• Sequential Bond Program
• Programs to recycle existing bonds
• First bond-funded downpayment assistance program in Florida
• First upfront master servicer fee program in the country
• First all-taxable bond program in Florida
• Note programs to generate up-front funds
• First program to allow mortgages beyond the allowable bond maturity in Florida
• Multi-family Swaps