New Home Mortgage : New York, New Orleans, Arizona, Florida & Texas

First National had a strong start to 2008, with solid increases in our key metrics,” said Stephen Smith, Chairman and President. First National Financial Income Fund owns a 19.97% interest in First National Financial LP, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single family and multi-unit) and commercial mortgages. First National’s mortgages under administration were $34.6 billion at March 31, 2008, up 36% from $25.4 billion at March 31, 2007 and up 5% from $33.1 billion at December 31, 2007.

Canadian banks will improve certain disclosure practices as urged by the G7 in its recent Financial Stability Forum report. The severity of the financial crisis has prompted an extraordinary meeting of the heads of the central bank, the country’s banking regulator, the federal Finance Department and the big banks, who will gather this morning to talk about what Canada should do to prevent another liquidity crisis. Within 100 days, Canadian banks will establish and adopt “leading practices for disclosure” by tweaking the way they disclose bank securities at mark-to-market values, among other items. Policy makers and regulators are under pressure to show they are taking action in the wake of the financial turmoil that’s reverberated in markets around the world.