From: Jeffrey Epstein <[email protected]>

From: Jeffrey Epstein <[email protected]> To: "Barrett, Paul S" e > Subject: Re: Rplaccment for the mortgage we sold last week - NEW PRIME RMBS SUB - 53.325mm of CWHL 03-26 BI O580-16 (7.56% yield 13.16 dust) Date: Thu. 23 Aug 2012 15:18:52 +0000 yes On Thu, Aug 23, 2012 at 11:16 AM, Barrett, Paul S wrote: 'astray This is a good replacement for the mortgage we sold last week. Spending around S1.311.6.4. Let me know. Paul "'ALL OFFERS ARE SUBJECT US Onshore Mots -Blue sky (U.S Store securities Local: Please confinw Mite sty eftqltAVly &pee sainting too US Onshore Went by entering the MN Into the web toedlocated ot httpiEpseppvtemeciprnehose.oetsofOIRJueskyPoothtml and review to see if you a' alcove's store of residence Is 'Med If you receive NO SECURITY FOUND', WO STATES FOUND/ or the scanty DOES NOT RAVE A CUSP or is not usa denominated. thenplease rental your Shl or local compliance of and provide the requested security DM diva lAtoonotion. Please note that o sunobteity review and other pre.trode proceduresmost sal be followed. The CWHL 03-26 81 is a prime Fix Subordinate bond backed by seasoned prime 30 fix mortgages. The underlying mortgages are 109 months seasoned and have an updated LW of 47% according to Bloomberg. Approximately 80% of the borrowers have not missed a payment in the past 2 years. This bond should make sense for clients who want a higher octane, levered play in the MISS space. Please call the desk with all bids/inquiries related to this bond. X32124 HICHUGHTS HPI Updated LTV 6 47% 80% of the borrowers have not missed a payment in the past 2 years 109 months seasoned 741 FICO 5310k average balance "Source: Bloomberg CWWL 2001-26 131 Offered 4t 8046 BOND OESCRIPTS4 Cusp orunst Epee Current Fain Bond Twe Rs,.^≥1$043PAloolisSitchl Current Cor.pon Reid O Base Case uirk g ease Casa Prempaisidow 4/i Base Case Mims, % Current Croft ErPrpmerntet 232% 30. Otambrenceo 7.47 Car Ocrina4encyCmerape 0.316 12009ERR0 3.325.000 1.625.664 Plum Pa Sub 5 337% Boon loJul33 17.00% Prop-m- Rale 16 CPR 18 ramp 18 22 CPR 20 tamp 18 24 CPR D01444 Rob s s s nor )32.5 rano sa i2s ccrx 4 tamp 30 2 5 I tamp 2405 CDR a ramp 24 2.5 0 5 CDR plait Smenlv 40 ramp 1836 35 35 00.2 1830 Prime 00-16 SOS has Yield -0 071 Spread over Tey .149 Duration 3.52 VIAL 4.62 Proic0.1 Midas Soli to May25 Princkagedikin 48.13% TotelColleacee 035% Total Stedelion 701% am Can 562 684 3.16 4.00 sop12 toJul33 17.00% 0.31% 8.45% R•00991nt Cale 12.101 1137 2.97 4.16 Sepl2 lo Jun33 000% 0.24% 6.36% unDERLIONGCOLLATERALOESCRiPnoti lag; Sign 4,40, Annt020 Loan BARRI, (5.00IR) 310 CPR 15.76 18 19 2436 Lean Car/ 365 CDR 0.00 0.00 000 Llartgage Type Prime 30o nx SEv NA NA NA tAtd /09 kterti0e40 Coupon 5.570% tAtd My NCO Scam 741 ‘‘t0 Ant C901.03, 49-V9koe 49.68% KRIM, LTV 46.68% 1Vcroblerl Avg Loan Age 109 Owner Occupied 93.70 Top 1 Co* Con:meow, CA 37% Too 2 Geo Contemelqn NV 7% Too 3 Geo Comensolion FL 5% /904314 Currant (24 most 79.77% IMPORTANT DISCLAIMER: Non agency RMBS is a complex fixed income product and is not suitable for investors. Please note that while desk assumptions are driven by a number of collateral and mac factors, the historical performance of a deal is not indicative of its future performance. Additionally, this message is a product of sales and trading and is not a researdi report. Other key risks to consider are outlined below: EFTA00941816 Al investments are subject to possible loss of principal Non-Agency bonds may have limited liquidity and dents should be aware that the secondary market for mongage-backed securities has experienced periods of illiquidity and may do so in the future. Illiquickty means that there may not be any purchasers for your dass of certificates.Although any class of certificates may experience iliquidity, it is more likely that classes that we lower in the capital shut-lute and non- investment grade related may experience greater illiquidity than more senior, investment-grade rated classes. - High Yield Non-Agency bonds ate speculative non-investment grade bonds that have higher risk of default or other adverse credit events which are appropriate for high risk investors only ilas mall es coded/cm' alai stiwnm ernawata that llamas anti attadeiettat en: IWeng on otters fa die pmt.'s. at nit of murales...molt), andconpkiemssolndarrsxa.sirma cattfuleatoltta. lip' "niers and ligol yin &win rt. notable at bg '......gsArsnatt=c2ws The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by c-mail to jrewiratiouggintilsw. and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00941817