<table><tr><th>From:</th><th>Jeffrey &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Thursday, June 14, 2012 9:03 PM</td></tr><tr><td>To:</td><td>Farkas, Andrew L.</td></tr><tr><td>Subject:</td><td>Re: You</td></tr></table>

I'll explain , when we speak

Sorry for all the typos .Sent from my iPhone

On Jun 14, 2012, at 4:55 PM, "Farkas, Andrew L." wrote=

> I never heard back from you (no problem), but it is now almost 11:00pm her= and I am sharing a room with my young son who is asleep and I can't talk. l=did hear from Mr. McCabe. He informed me (in a most diplomatic way) that J=M has had other things on its mind (no kidding) and that, thus, they have b=en unable to reach any conclusions with regards to anything relating to you= me, c-Ill or LNR. He asked that I be patient until tomorrow night at whic= time he would let me know if there were any aspects of this business in wh=ch they were interested. I told him I would, of course, wait.

>

> For your eyes only, however, Wells Fargo is getting aggressive on these fr=nts and they may well be a better alternative. They know me and the busines= well and they already have an equity position and provide a warehouse faci=ity of $150mm. JPM has continually flirted, both directly and, more recentl=, through you, but they always seem to come up short. I will wait until tom=rrow night however, and then you and I can talk and decide what, if anythin=, to do. It may simply be that this is not the time to be commencing a rel=tionship of substance with JPM. The senior guys are understandably distract=d and the industry is new to them. Just my thoughts. Talk tomorrow.

>

> Xoxo

>

> Sent from my iPad

>

>

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