840889--3/20/2008--DORAL_FINANCIAL_CORP

related topics
{loan, real, estate}
{financial, litigation, operation}
{regulation, change, law}
{loss, insurance, financial}
{personnel, key, retain}
{control, financial, internal}
{competitive, industry, competition}
{interest, director, officer}
The preparation of Doral Financial s financial statements requires the use of estimates that may vary from actual results. Defective and repurchased loans may harm Doral Financial s business and financial condition. Doral Financial is exposed to credit risk from mortgage loans held pending sale and mortgage loans that have been sold subject to recourse arrangements. Doral Financial is subject to risks in servicing loans for others. Doral Financial may fail to retain and attract key employees and management personnel. Management has identified several material weaknesses in Doral Financial s internal control over financial reporting. Competition with other financial institutions could adversely affect the profitability of Doral Financial s operations. Changes in statutes and regulations could adversely affect Doral Financial . Doral Financial and its banking subsidiaries are subject to the supervision and regulation of various banking regulators and have entered into consent orders with these regulators, and these regulators could take action against the Company or its banking subsidiaries. Risk relating to Legacy Issues Doral Financial has been the subject of an investigation by the U.S. Attorney s Office for the Southern District of New York, which could require it to pay substantial fines or penalties. Doral Financial may be required to advance significant amounts to cover the legal expenses of its former officers and directors.

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