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Alabama rank: 39 90+ Day Delinquency Rate Foreclosure Rate september 2012 3.86% Unemployment Rate 1.70% 8.3% year ago 3.81% 1.71% 8.8% percent point change 1.4% -0.7% -5.7% Top County BlounT CounTy 90+ Day Delinquency Rate Foreclosure Rate september 2012 2.50% 2.75% year ago 3.23% 2.32% percent point change -22.6% 18.9% Top Core-Based Statistical Area moBile, Al 90+ Day Delinquency Rate Foreclosure Rate september 2012 3.37% 2.62% year ago 3.53% 2.71% percent point change -4.4% -3.6% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary September 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. IN THE NEWS Alabama Homeowners File Suit for Rigged Rates in LIBOR Scandal Five homeowners based in Alabama filed a class action suit against a group of 12 financial institutions, including Bank of America Corporation, Barclays Bank, and Citigroup, claiming the interest rates for their adjustable rate mortgages (ARMs) were raised as a result of the rigged London Interbank Offered Rate (LIBOR). The lawsuit alleges violations of federal antitrust, racketeering, breach of contract, and other claims against the banks arising from the manipulation of LIBOR from January 2000 through at least February 2009, according to the complaint, which was filed in Manhattan federal court. LIBOR is used by financial institutions as a benchmark to set rates. LIBOR is calculated for 10 currencies and determines rates based on what London banks say they would be charged if they were to borrow from other banks during certain time periods. In late June, Barclays reached a settlement with British and U.S. authorities and agreed to pay 290 million pounds for ma- 90 nipulating LIBOR rates based on requests from traders. According to an article from the Financial Times, the attorney representing the homeowners, John Sharbrough, said the plaintiffs lost thousands of dollars each, and the number of plaintiffs could reach 100,000. The Financial Times also reported the lead plaintiff, Annie Bell Adams, lost her home to foreclosure. Other defendants named in the case, Adams et al. v. Bank of America Corp., were Rabobank, Credit Suisse, Deutsche Bank, HSBC, JP Morgan Chase, Lloyds Banking, Royal Bank of Canada, Royal Bank of Scotland, and UBS. Sirote & Permutt Recognized with USFN's Award of Excellence USFN recognized Sirote & Permutt, PC with the 2012 Award of Excellence, the law firm announced in a release in October. This is the 14th consecutive year Sirote & Permutt has received the award, which is USFN's highest honor. Award recipients must meet rigorous standards. According to the release, firms are evaluated for their professional activities, industry volunteerism, and community and charitable involvement. USFN, a trade association of law firms and trustee companies that focus on creditors' rights, introduced the Award of Excellence program in 1993 to recognize and encourage member firms to develop and maintain high standards. "We are honored to receive the USFN Award of Excellence. It reflects our dedication to understanding our clients' needs and expectations, and it highlights our focus on keeping abreast of issues affecting the mortgage industry," said shareholder Jerry E. Held, who chairs Sirote's Mortgage Banking Practice Group. The mortgage banking practice at Sirote includes 30 attorneys, and many of those attorneys participate as speakers at USFN quarterly seminars. Held receive the award at USFN's Annual Member Education Retreat in November. Sirote & Permutt is a full-service law firm focused on the business and financial services industries. The firm has 115 attorneys in 15 practice areas and represents clients throughout the U.S. from its offices in Birmingham, Huntsville, and Mobile, Alabama; and Pensacola, Florida. Alaska rank: 49 90+ Day Delinquency Rate Foreclosure Rate september 2012 1.26% Unemployment Rate 0.96% 7.5% year ago 1.29% 1.00% 7.6% percent point change -1.9% -3.8% -1.3% Top County KeTChiKAn GATewAy BorouGh 90+ Day Foreclosure Delinquency Rate Rate september 2012 0.93% 1.54% year ago 1.55% 1.42% percent point change -39.9% 8.7% Top Core-Based Statistical Area KeTChiKAn, AK 90+ Day Delinquency Rate Foreclosure Rate september 2012 0.93% 1.54% year ago 1.55% 1.42% percent point change -39.9% 8.7% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary September 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. Arizona rank: 32 90+ Day Delinquency Rate Foreclosure Rate september 2012 2.49% Unemployment Rate 2.16% 8.2% year ago 3.54% 3.50% 9.4% percent point change -29.5% -38.2% -12.8% Top County PinAl CounTy 90+ Day Delinquency Rate Foreclosure Rate september 2012 4.46% 3.83% year ago 6.60% 5.77% percent point change -32.4% -33.5% Top Core-Based Statistical Area nogAleS, AZ 90+ Day Delinquency Rate Foreclosure Rate september 2012 3.24% 3.30% year ago 3.83% 3.97% percent point change -15.4% note: -17.0% The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary September 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services.

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