Downey Savings & Loan

Mortgage Refinance		Debt Settlement		Insurance Savings		Home Values		Vacation Savings

No SSN Required - No Hidden Fees

	Mortgage Resources
	Personal Financial Advice
	Mortgage Glossary
	Mortgage Calculators
	Mortgage Shopping Guide
	Common Questions
	Mortgage Rates
	Fixed Rate Mortgage
	First Time Buyers
	HELOC

	Home Equity Loans
	Balloon Mortgage
	Reverse Mortgage
	Debt Consolidation
	Jumbo Loans
	Interest Only Loans
	Credit Unions
	Government Loans
	FHA Loans
	Fannie Mae

Completely Free Service

	Loan Type
	Credit Profile
	Property Location
	Home Type

Refinance from an adjustable rate mortgage to a fixed rate
Get a home equity loan for home improvements
Consolidate your debt
Home Buying
Mortgage glossary
Common mortgage questions
Mortgage calculators
Compare home loans
Debt consolidation basics
Home equity loans explained
Home improvement loans
Home loans and taxes
Is a home equity loan right for me
Bad credit home loans
Personal financial advice

Downey Savings & Loan

Downey Financial Corp., incorporated on October 21, 1994, operates as the bank holding company of Downey Savings and Loan Association (the Bank). The Bank was formed in 1957 as a California-licensed savings and loan association and converted to a federal charter in 1995. As of December 31, 2002, it conducts its business through 165 retail deposit branches, including 93 full-service, in-store branches. Historically, the Company's lending activities have primarily emphasized its origination of first mortgage loans secured by residential properties and retail neighborhood shopping centers. To a lesser extent, its lending activities have emphasized the Company's origination of real estate loans secured by multi-family and commercial properties, including land and other properties with income producing capabilities.

In addition, the Company has provided construction loan financing for single-family and multi-family residential properties and commercial retail neighborhood shopping center projects. These construction loan financings have included loans to joint ventures, which were being engaged in by DSL Service Company, a wholly owned subsidiary of the Bank, with other participants. The Company also originates loans to businesses through its commercial banking operations.

The Company originates automobile loans directly through its branch network. The Company's primary focus continues to be its origination of adjustable-rate single-family mortgage loans for portfolio, including sub-prime loans that carry higher interest rates.

The Company's banking activities focus on attracting funds from the general public and institutions, and originating and investing in loans, primarily residential mortgage loans, investment securities and mortgage-backed securities. These mortgage-backed securities include mortgage pass-through securities issued by other entities and securities issued or guaranteed by government-sponsored enterprises such as the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation and the Government National Mortgage Association. The Company's primary sources of revenue from its banking business are interest it earns on loans, investment securities and mortgage-backed securities; fees it earns in connection with loans and deposits; gains on sales of its loans, investment securities and mortgage-backed securities, and income it earns on loans and mortgage-backed securities it services for investors.

The BillCut.com Web Site is offered to you conditioned on your acceptance without modification of the terms, conditions, and notices contained herein.
Your use of the BillCut.com Web Site constitutes your agreement to all such terms, conditions, and notices.