<table><tr><th>From:</th><th>Barrett, Paul S</th></tr><tr><td>Sent:</td><td>Thursday, March 29, 2012 1:50 AM</td></tr><tr><td>To:</td><td>jeevacation@gmail.com*</td></tr><tr><td>Cc:</td><td>Giuffrida, David J</td></tr><tr><td>Subject:</td><td>RMBS</td></tr></table>

Jeffrey

I think we should start buying non agency mortgages. W= are looking at yields around 8-9%. Will follow up with you. =OA Paul

This email is confidential and subject to importan= disclaimers and conditions including on offers for the purchase or s=le of securities, accuracy and completeness of information, viruses,=0D confidentiality, legal privilege, and legal entity disclaimers, =vailable at http://www.jpmorgan.com/pages/disclosures/email. <?xml version=.0" encoding=TF-8"?> <!DOCTYPE plist PUBLIC "-//Apple//DTD PLIST 1.0//EN" "http://www.apple.com/DTDs/PropertyList-1.O.dtd"> <plist version=.0">

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