July 12, 2004

Mortgage Markets CPA review completed

Mcgladry & Pullen completed its CPA audit and presented final reports to Mortgage Markets officials during July 04. Audit scope included reviews of cash flows, financial statements, loans held for sale, transfers / servicing of assets, capitalization, property / equipment, loan serviciing, borrowed funds, and concentrations of risk.

In Mcgladry's opinion "the financial statements reviewed present fairly in all material respects, the financial position of Mortgage Markets CUSO, LLC as of March 31, 2004." There were no significant accounting exceptions and operations are in conformity with generally accepted accounting principles.