Form: 10-K

Annual report pursuant to Section 13 and 15(d)

February 14, 2008


Exhibit 12.2
 
 
Computation of Ratio of Debt-to-Equity
 
 
 
 
 
   
At
December 31, 2007
 
(Dollars in Thousands)
     
Repurchase agreements
  $ 7,526,014  
Mortgages payable on real estate
    9,462  
  Total Debt
  $ 7,535,476  
         
Stockholders' Equity
    927,263  
         
Ratio of Debt-to-Equity
   
8.1:1
 
or
    8.1 x
 
73