Update on Housing in Cumberland and Perry Counties

Prepared for the Cumberland County Housing and Redevelopment Authorities by The Reinvestment Fund

December, 2009 Profile of TRF

The Reinvestment Fund builds wealth and opportunity for low-wealth communities and low and moderate income individuals through the promotion of socially and environmentally responsible development.

We achieve our mission through: Capital – Grants, loans and equity investments Knowledge – Information and policy analysis; Policy Solutions & PolicyMap Innovation – Products, markets and strategic partnerships Table of Contents

I. Map of Cumberland County II. Map of Perry County III. Data Sources IV. Characteristics of the Population V. Characteristics of the Housing Stock VI. Home Prices & Rent Levels VII. Income & Economic Characteristics VIII. Employment & Industry IX. Home Financing Cumberland County Perry County Data Sources

ƒ US Department of Commerce, Bureau of the Census; – Summary File 3, 2000 – American Community Survey, 2005-2007 (3-year estimate) – American Community Survey, 2006-2008 (3-year estimate) – Population Division – Public Use Microdata Sample ƒ US Department of Agriculture, National Agricultural Statistics Service ƒ Federal Housing Finance Agency ƒ Boxwood-Means (through PolicyMap) ƒ US Bureau of Labor Statistics Data Sources (continued)

ƒ Pennsylvania Department of Labor & Industry, Center for Workforce Information and Analysis ƒ Pennsylvania Department of Public Welfare, Office of Income Maintenance ƒ Pennsylvania State Tax Equalization Board ƒ Pennsylvania Department of Revenue ƒ National Establishment Times Series ƒ US Department of Housing and Urban Development (Mid-Atlantic Homeownership Center) ƒ Home Mortgage Disclosure Act Data Sources (continued)

ƒ Lender Processing Services (acquired McDash Analytics, LLC) ƒ Pennsylvania Housing Finance Agency (Act 91 Notices and HEMAP Applications) Population in Cumberland County; 2000-2008

Percent Change 2000-2008 = 7.2%; PA = 1.3% Population in Perry County; 2000-2008

Percent Change 2000-2008 = 3.6%; PA = 1.3% Total Population; 2007 Components of Population Change; 2000-2008 Population Density; 2008 Absolute Population Change; 2000-2007 Percent Change in Population; 2000-2007 Distribution of Population

Cumberland: 18 of 33 munis are rural Perry: 29 of 30 munis are rural

n=33 n=30 Age of Population; 2000 Age of Population; 2007 (3-yr estimate) Spanish Ethnicity of Household Heads; 2000-2007 (3-yr estimate) Racial Composition of Household Heads; 2000-2007 (3-yr estimate) Housing Units in Cumberland County; 2000-2008

Percent Change 2000-2008 = 9.6%; PA = 4.5% Housing Units in Perry County; 2000-2008

Percent Change 2000-2008 = 4.3%; PA = 4.5% Ratio of Population to Housing Units; 2000-2008 Homeownership Rate

2006-2008: 72.2% 2006-2008: 80.8% 2006-2008: 71.4% Vacancy Rate

2006-2008: 4.3% 2006-2008: 12.3% 2006-2008: 10.9% Composition of Vacant Stock Building Permits Issued in Cumberland County Building Permits Issued in Perry County Median Gross Rent

Pct Chg = 28.1%

Pct Chg = 34.7%

Pct Chg = 24.7% Median Gross Rent as a Percent of Income Gross Rent as a Percentage of Income FHFA Housing Price Index Median Home Value

Pct Chg = 42.3%

Pct Chg = 43.1% Pct Chg = 60.2% Median Sale Price; 2008 Change in Median Sale Price; 2007-2008 Mortgage Status of Owner Occupied Homes Owner Cost Burdens for Owners With Mortgages Owner Cost Burdens for Owners Without Mortgages HUD Public Housing; circa, 2000

Cumberland County Public Housing Name Total Units % Occupied Carlisle Family Apts 74 100.0% Carlisle Family Apts 25 92.0% Cumberland Co Hsng Auth 49 100.0% Cumberland Co Hsng Auth 50 100.0% Mt Holly Springs Elderly 9 100.0% HUD-Assisted Multi-Family Stock; circa, 2007

Cumberland County HUD Multi‐Family Earliest Contract Contract 1 Program Contract 1 Property Name Owner Organization Name Owner Company Type City Total Units Expiration Date Type Status CUMBERLAND ELDERLY MALLARD RUN HOUSING ASSOCIATES Profit Motivated CAMP HILL 100 4/20/2011 Other S8 New Active BETHANY DEVELOPMENT Bethany Towers CORP. Non‐Profit MECHANICSBURG 150 12/28/2008 Sec. 202 Active

SUSQUEHANNA VIEW SUSQUEHANNA VIEW L. P. Profit Motivated CAMP HILL 200 2/14/2019 S8 State Agency Active ORCHARD APARTMENTS ORCHARD APTS ASSOCIATES CAMP HILL 80 5/31/2013 S8 State Agency Active

Shippen House Home for Shippensburg, Inc. Non‐Profit SHIPPENSBURG 24 8/31/2007 PRAC 202/811 Active CARLISLE SENIOR HOUSING ONE WEST PENN ASSOCIATION Non‐Profit CARLISLE 131 12/12/2009 Sec. 202 Active EPISCOPAL EPISCOPAL SQUARE APARTMENTS TOWERS/SHIPPENSBURG, PA Non‐Profit SHIPPENSBURG 95 12/30/2009 Sec. 202 Active

Perry County HUD Multi‐Family Earliest Contract Contract 1 Program Contract 1 Property Name Owner Organization Name Owner Company Type City Total Units Expiration Date Type Status PERRY MANOR Perry Manor, LLC Profit Motivated NEWPORT 50 8/18/2010 S8 State Agency Active USDA Rural Housing Development Sites; circa, 2007

Cumberland County USDA Rural Housing Rental Assistance Section 8 Project Name Location City State Zip Complex Type Total Units Units Included Units Units 0 studio apts; 12 1‐BR apts; 30 2‐BR apts; 6 3‐BR apts; BOILING SPRINGS APTS. 297 PLAZA DRIVE BOILING SPRINGS PA 17007 FAMILY 48 0 4‐BR apts; 0 5‐BR apts; 0 6‐or more‐BR apts 0 48 1051 ALLENDALE 0 studio apts; 148 1‐BR apts; 0 2‐BR apts; 0 3‐BR apts; MEADOWOOD APTS C/O INTERSTATE REAL ROAD MECHANICSBURG PA 17055 ELDERLY 148 0 4‐BR apts; 0 5‐BR apts; 0 6‐or more‐BR apts 121 0 91 DOUBLING 0 studio apts; 20 1‐BR apts; 0 2‐BR apts; 0 3‐BR apts; 0 MOUNTAIN VIEW APTS GAP ROAD NEWVILLE PA 17241 ELDERLY 20 4 ‐BR apts; 0 5‐BR apts; 0 6‐or more‐BR apts 20 0 MOUNT HOLLY 0 studio apts; 12 1‐BR apts; 24 2‐BR apts; 0 3‐BR apts; PINE RIDGE ESTATES 601‐7 PINE ROAD SPRI PA 17065 FAMILY 36 0 4‐BR apts; 0 5‐BR apts; 0 6‐or more‐BR apts 13 0

Perry County USDA Rural Housing Rental Assistance Section 8 Project Name Location City State Zip Complex Type Total Units Units Included Units Units 0 studio apts; 30 1‐BR apts; 0 2‐BR apts; 0 3‐BR apts; 0 EPISCOPAL COMMONS 502 S 4TH ST NEWPORT PA 17074 ELDERLY 30 4‐BR apts; 0 5‐BR apts; 0 6‐or more‐BR apts 30 0 200 LEONARD 0 studio apts; 32 1 ‐BR apts; 0 2‐BR apts; 0 3‐BR apts; 0 LOCUST VILLAGE STREET MARYSVILLE PA 17057 ELDERLY 32 4‐BR apts; 0 5‐BR apts; 0 6‐or more‐BR apts 32 0 302 NORTH PINE 0 studio apts; 20 1‐BR apts; 0 2‐BR apts; 0 3‐BR apts; 0 PINE STREET COMMONS STREET LIVERPOOL PA 17045 ELDERLY 20 4‐BR apts; 0 5 ‐BR apts; 0 6‐or more‐BR apts 20 0 Distribution of Household Income in Cumberland and Perry Counties; 2000-2007 Distribution of Household Income for the Remainder of Pennsylvania; 1990-2007 Median Household Income; 2007 Unemployment Rate, 2000 – July 2009

September 2009 (NSA):

US = 9.5 PA = 8.3 Cumberland = 6.8 Perry = 8.1 TANF – ADC Recipients; 2004 – July 2009 Total Recipients of Cash Assistance; 2004 – July 2009 Personal Income Tax; 2004 – 2007

Cumberland Perry Percent Percent 2004 2005 2006 2007 Chg; 04‐07 2004 2005 2006 2007 Chg; 04‐07 Taxable Compensation$ 4,289,561 $ 4,522,380 $ 4,631,824 $ 4,939,555 15%$ 702,128 $ 715,632 $ 751,626 $ 797,104 14% Interest$ 82,637 $ 103,720 $ 140,699 $ 178,726 116%$ 10,831 $ 11,946 $ 15,744 $ 19,581 81% Dividends$ 113,164 $ 148,836 $ 181,158 $ 244,920 116%$ 8,686 $ 10,270 $ 12,151 $ 16,320 88% Net Profits$ 471,457 $ 464,343 $ 511,467 $ 586,338 24%$ 53,891 $ 49,045 $ 52,844 $ 58,778 9% Other Taxable Income$ 320,082 $ 419,513 $ 398,929 $ 514,475 61%$ 24,460 $ 28,603 $ 35,617 $ 30,158 23% Total Taxable Income$ 5,276,901 $ 5,658,792 $ 5,864,077 $ 6,464,014 22%$ 799,996 $ 815,496 $ 867,982 $ 921,941 15% Estimated Population 220,661 222,538 225,488 227,203 3% 44,264 44,488 44,801 45,085 2% Total Tax per Person$ 23.91 $ 25.43 $ 26.01 $ 28.45 19%$ 18.07 $ 18.33 $ 19.37 $ 20.45 13% Certified Market & Assessed Values; 2000 – 2007

Cumberland Perry

Assessed Value Market Value Assessed Value Market Value 2000$ 2,022,343,080 $ 10,532,730,500 $ 268,279,504 $ 1,500,058,100 2001$ 14,019,872,910 $ 10,589,162,900 $ 1,819,799,590 $ 1,519,547,300 2002$ 14,197,257,600 $ 11,508,161,700 $ 1,833,080,350 $ 1,577,714,100 2003$ 14,589,047,550 $ 11,880,629,700 $ 1,844,850,860 $ 1,586,708,600 2004$ 14,898,229,960 $ 12,917,621,900 $ 1,873,112,190 $ 1,683,993,700 2005$ 16,973,295,233 $ 13,199,734,800 $ 1,901,009,230 $ 1,712,758,800 2006$ 17,773,351,032 $ 15,251,725,200 $ 1,954,834,730 $ 1,923,127,500 2007 $ 18,360,205,160 $ 15,818,988,900 $ 1,988,685,820 $ 1,962,122,300 Percent Change; 00‐07 NA 50.2% NA 30.8% Percent Change; 05‐07 8.2% 19.8% 4.6% 14.6% Agriculture

Farms Farmland‐Acres Farmland‐Pct of Land Preserved Farms (2008) 2002 2007 2002 2007 2002 2007 Farms Acres Cumberland 1,116 1,550 143,159 157,388 40.7% 44.7% 108 13,358 Perry 752 1,002 129,092 144,375 36.4% 40.8% 32 5,313

Cumberland Perry Avg Acres, 2002 128 172 Avg Acres, 2007 102 144

Under 50 Acres 52.0% 36.6% 50‐179 Acres 34.3% 40.2% 180‐499 Acres 10.2% 18.7% 500+ Acres 3.6% 4.5% Employment in Cumberland County; 2008 Employment in Perry County; 2008 Cumberland County Largest Employers, 4th Qtr 2008

Total Employment, Company City 2008 NAVY UNITED STATES DEPT OF MECHANICSBURG 3,000 DEFENSE LOGISTICS AGENCY NEW CUMBERLAND 2,200 NAVY UNITED STATES DEPT OF MECHANICSBURG 1,700 HOLY SPIRIT HOSPITAL SISTERS CAMP HILL 1,459 FRY COMMUNICATIONS INC MECHANICSBURG 1,050 INGERSOLL‐RAND COMPANY SHIPPENSBURG 1,000 CORRECTIONS PENNSYLVANIA DEPT CAMP HILL 1,000 CARLISLE H M A CIN CARLISLE 852 SHIPPENSBURG UNIVERSITY PA SHIPPENSBURG 824 NAVY UNITED STATES DEPT OF MECHANICSBURG 800 ELECTRONIC DATA SYSTEMS CORP CAMP HILL 800 GANNETT FLEMING AFFILIATES CAMP HILL 800 RITE AID CORPORATION CAMP HILL 800 ARMY UNITED STATES DEPT OF CARLISLE 800 CRETE CARRIER CORPORATION NEW KINGSTOWN 755 SHAFFER TRUCKING INC NEW KINGSTOWN 750 UPS GROUND FREIGHT INC MECHANICSBURG 750 CAPITAL BLUE CROSS LEMOYNE 700 RITE AID OF KENTUCKY INC CAMP HILL 687 HEALTHSOUTH SUB‐ACUTE MECHANICSBURG 650 MESSIAH COLLEGE GRANTHAM 626 DICKINSON COLLEGE CARLISLE 615 WASHINGTON GROUP INTERNATIONA MECHANICSBURG 600 CUMBERLAND VALLEY SCHOOL DST MECHANICSBURG 600 RITE AID OF MICHIGAN INC CAMP HILL 600 PPG INDUSTRIES INC CARLISLE 600 PERRY DRUG STORES INC CAMP HILL 600 INGERSOLL‐RAND COMPANY SHIPPENSBURG 600 TENET HEALTHSYSTEM MEDICAL MECHANICSBURG 550 AMES TRUE TEMPER INC CAMP HILL 550 GIANT FOOD STORES LLC CARLISLE 550 INTERNATIONAL BUS MCHS CORP MECHANICSBURG 500 ARMY UNITED STATES DEPT OF CARLISLE 500 CARLISLE HMA INC CARLISLE 500 GIANT FOOD STORES LLC CAMP HILL 500 CARLISLE SYNTEC INCORPORATED CARLISLE 500 Perry County Largest Employers, 4th Qtr 2008

Total Employment, Company City 2008 WEST PERRY SCHOOL DISTRICT ELLIOTTSBURG 300 EXCEL HOMES INC LIVERPOOL 250 DIAKON LTHRAN SCIAL MINISTRIES NEW BLOOMFIELD 150 MUTZABAUGHS MARKET INC DUNCANNON 130 ROHRER HE INC DUNCANNON 130 WEIS MARKETS INC NEWPORT 125 NEWPORT SCHOOL DISTRICT NEWPORT 100 PERRY COUNTY OF NEW BLOOMFIELD 100 PERRY HISTORIANS 34 NEW BLOOMFIELD 100 CAMPBELL H F & SON INC MILLERSTOWN 90 SUSQUENITA SCHOOL DISTRICT DUNCANNON 90 SUSQUENITA SCHOOL DISTRICT DUNCANNON 88 NEWPORT SCHOOL DISTRICT NEWPORT 85 WEST PERRY HIGH SCHOOL ELLIOTTSBURG 81 WEST PERRY SCHOOL DISTRICT SHERMANS DALE 80 KINKORA PYTHIAN HOME CORP DUNCANNON 80 WEST PERRY SCHOOL DISTRICT NEW BLOOMFIELD 75 STEPHEN F PETERS INC NEWPORT 75 MARK S JANITORIAL SERVICE NEWPORT 72 EXTENDICARE HOMES INC DUNCANNON 70 NEWPORT SCHOOL DISTRICT NEWPORT 67 PENN TRAFFIC COMPANY NEW BLOOMFIELD 65 TRANSPORTATION PA DEPT NEW BLOOMFIELD 63 ALL AMERICAN PLAZAS INC DUNCANNON 60 GIANT FOOD STORES LLC NEWPORT 60 TUSCARORA HARDWOODS INC ELLIOTTSBURG 60 SUSQUENITA MIDDLE SCHOOL DUNCANNON 58 FIRST NATIONAL BANK OF NEWPORT NEWPORT 52 LANDISBURG VOLUNTEER FIRE CO LANDISBURG 50 CARLISLE H M A INC LOYSVILLE 50 AMERICAN ABATEMENT GROUP INC NEW BLOOMFIELD 50 TRUGREEN LTD PTN NEWPORT 50 GREENWOOD SCHOOL DISTRICT MILLERSTOWN 50 GREENWOOD SCHOOL DISTRICT MILLERSTOWN 50 WESTERN UNION DUNCANNON 50 FHA Insured Loans in Cumberland County; 2004-2009 FHA Insured Loans in Perry County; 2004-2009 Characteristics of Mortgages; 2004-2005

Owner Occupied Non‐Owner Occupied Owner Occupied Non‐Owner Occupied Cumberland Cumberland Cumberland Cumberland County Perry County County Perry County County Perry County County Perry County 2004 2005 Purchase Purchase Applications 5,289 950 494 101 Applications 6,158 1,082 550 73 Percent Denied 8.0% 17.3% 11.1% 7.9% Percent Denied 10.0% 18.2% 9.6% 11.0% Percent Subprime 11.5% 13.7% 8.2% 16.3% Percent Subprime 13.5% 20.6% 15.7% 22.4% Average Amount Average Amount Prime$ 134,090 $ 109,150 $ 103,220 $ 87,330 Prime$ 138,020 $ 117,290 $ 105,300 $ 94,160 Subprime$ 103,030 $ 85,220 $ 75,560 $ 121,310 Subprime$ 89,670 $ 77,260 $ 82,710 $ 74,090 Average Income Average Income Prime$ 74,010 $ 57,100 $ 114,140 $ 104,480 Prime$ 75,760 $ 62,660 $ 128,450 $ 76,970 Subprime$ 61,980 $ 53,100 $ 112,830 $ 80,820 Subprime$ 61,110 $ 52,030 $ 131,610 $ 84,090 2004 2005 Refinance Refinance Applications 11,088 2,875 366 69 Applications 10,667 2,763 330 73 Percent Denied 22.0% 27.7% 21.0% 23.2% Percent Denied 25.2% 30.3% 13.9% 30.1% Percent Subprime 11.5% 12.5% 6.8% 6.7% Percent Subprime 15.9% 19.7% 15.3% 18.9% Average Amount Average Amount Prime$ 109,400 $ 82,740 $ 97,510 $ 88,120 Prime$ 105,140 $ 87,520 $ 98,340 $ 85,430 Subprime$ 102,460 $ 90,080 $ 83,530 $ 75,000 Subprime $ 114,440 $ 102,260 $ 95,700 $ 68,710 Average Income Average Income Prime$ 77,140 $ 61,860 $ 110,010 $ 96,570 Prime$ 79,250 $ 62,800 $ 115,000 $ 79,620 Subprime$ 63,620 $ 49,960 $ 73,000 $ 74,670 Subprime$ 66,200 $ 56,310 $ 124,480 $ 64,860 Characteristics of Mortgages; 2006-2007

Owner Occupied Non‐Owner Occupied Owner Occupied Non‐Owner Occupied Cumberland Cumberland Cumberland Cumberland County Perry County County Perry County County Perry County County Perry County 2006 2007 Purchase Purchase Applications 5,967 994 524 73 Applications 4,752 853 457 85 Percent Denied 8.2% 17.3% 7.8% 15.1% Percent Denied 9.4% 18.2% 10.5% 9.4% Percent Subprime 13.2% 16.9% 23.5% 27.5% Percent Subprime 8.2% 12.8% 10.9% 30.8% Average Amount Average Amount Prime$ 144,310 $ 118,800 $ 115,080 $ 102,970 Prime$ 156,810 $ 133,560 $ 136,380 $ 161,180 Subprime$ 105,010 $ 90,590 $ 89,210 $ 60,070 Subprime $ 119,350 $ 102,190 $ 105,140 $ 84,000 Average Income Average Income Prime$ 79,930 $ 62,670 $ 160,770 $ 98,690 Prime$ 81,480 $ 64,380 $ 186,130 $ 101,770 Subprime$ 68,100 $ 53,530 $ 130,940 $ 81,290 Subprime$ 68,070 $ 53,890 $ 100,730 $ 168,550 2006 2007 Refinance Refinance Applications 8,902 2,513 289 46 Applications 7,761 2,052 342 67 Percent Denied 25.3% 31.5% 18.0% 21.7% Percent Denied 29.3% 32.8% 23.7% 22.4% Percent Subprime 20.5% 23.9% 18.8% 13.3% Percent Subprime Average Amount Average Amount Prime$ 102,700 $ 82,970 $ 127,230 $ 80,420 Prime$ 112,920 $ 97,380 $ 112,280 $ 99,690 Subprime$ 118,720 $ 103,600 $ 100,760 $ 125,500 Subprime $ 128,330 $ 105,020 $ 115,090 $ 76,710 Average Income Average Income Prime$ 84,510 $ 63,340 $ 137,310 $ 78,750 Prime$ 82,570 $ 72,760 $ 236,370 $ 103,180 Subprime$ 69,260 $ 58,410 $ 115,160 $ 78,000 Subprime$ 71,800 $ 61,770 $ 179,120 $ 92,710 Median Purchase Loan Amount; 2007 Median Purchase Loan Amount; 2006 Median Refinance Loan Amount; 2007 Median Refinance Loan Amount; 2006 Leading Lenders; 2007 Leading Lenders; 2008

Market Total Dollars Avg Loan Market Total Dollars Avg Loan Lender Loans Share ($000) Size Lender Loans Share ($000) Size Cumberland County Perry County Purchase Purchase Wells Fargo Bank, NA 337 10.82% $63,465 $188,000 The Bank of Landisburg 67 13.54% $10,078 $150,000 Sovereign Bank 160 5.14% $24,605 $154,000 Wells Fargo Bank, NA 46 9.29% $6,969 $152,000 Suntrust Mortgage, Inc 159 5.11% $27,560 $173,000 The First National Bank of MIF 37 7.47% $4,713 $127,000 Members 1st FCU 156 5.01% $23,331 $150,000 Orrstown Bank 25 5.05% $3,035 $121,000 M & T Bank 122 3.92% $18,238 $149,000 Members 1st FCU 20 4.04% $2,028 $101,000 Taylor, Bean & Whitaker 112 3.60% $18,524 $165,000 First National Bank of Liverpool 16 3.23% $1,397 $87,000 Amtrust Bank 106 3.40% $20,007 $189,000 Suntrust Mortgage, Inc 15 3.03% $2,143 $143,000 National City Bank 105 3.37% $19,425 $185,000 First National Bank of Marysville 14 2.83% $2,476 $177,000 Countrywide Bank, FSB 101 3.24% $16,060 $159,000 Mortgage Network 14 2.83% $2,245 $160,000 Orrstown Bank 93 2.99% $16,063 $173,000 Countrywide Bank, FSB 14 2.83% $1,896 $135,000

Refinance Refinance Members 1st FCU 724 18.74% $50,202 $69,000 The Bank of Landisburg 135 13.98% $10,229 $76,000 Wells Fargo Bank, NA 232 6.00% $41,590 $179,000 Members 1st FCU 113 11.70% $8,191 $72,000 Countrywide Bank, FSB 201 5.20% $32,069 $160,000 The First National Bank of MIF 91 9.42% $7,469 $82,000 Orrstown Bank 150 3.88% $25,031 $167,000 Orrstown Bank 73 7.56% $5,699 $78,000 PA State Employees CU 144 3.73% $10,911 $76,000 Countrywide Bank, FSB 47 4.87% $6,766 $144,000 JP Morgan Chase Bank, NA 100 2.59% $15,790 $158,000 PA State Employees CU 38 3.93% $2,488 $65,000 Commerce Bank/Harrisburg 95 2.46% $14,609 $154,000 Wells Fargo Bank, NA 33 3.42% $4,903 $149,000 Wachovia Bank, NA 88 2.28% $10,605 $121,000 The Juniata Valley Bank 30 3.11% $4,172 $139,000 Taylor, Bean & Whitaker 85 2.20% $15,715 $185,000 First National Bank of Marysville 24 2.48% $2,649 $110,000 Americhoice FCU 85 2.20% $7,796 $92,000 PNC Bank, NA 18 1.86% $1,206 $67,000 Percent Subprime; 2007 Percent Subprime; 2006 HUD Foreclosure Risk Scores (NSP II) Prime Fixed Percent Non-Current; June ‘08 Prime Fixed Percent Non-Current; June ‘09 Prime ARM Percent Non-Current; June ‘08 Prime ARM Percent Non-Current; June ‘09 Subprime Fixed Percent Non-Current; June ‘08 Subprime Fixed Percent Non-Current; June ‘09 Subprime ARM Percent Non-Current; June ‘08 Subprime ARM Percent Non-Current; June ‘09 Number of HEMAP Applications; 2000-2009 (1st half) Number of Pennsylvania Act 91 Notices

Cumberland average HEMAP / year = 87.8 Perry average HEMAP/year = 31.1

2008 Q4 2009 Q1 2009 Q2 Total Cumberland 312 708 583 1,603 Perry 79 136 124 339 HEMAP Applications per 1,000 Owner Occupied Units; 2000-2001 HEMAP Applications per 1,000 Owner Occupied Units; 2002-2003 HEMAP Applications per 1,000 Owner Occupied Units; 2004-2005 HEMAP Applications per 1,000 Owner Occupied Units; 2006-2007 HEMAP Applications per 1,000 Owner Occupied Units; 2008-2009 Percent of HEMAP Applications Approved; 2000-2009