We at Municipal Mortgage & Equity, LLC (MuniMae) and its affiliates (the "company," "us" or "we") recognize the importance of protecting the privacy of certain information collected about the users and visitors of our website (referred to as "you"). This Privacy Policy discloses what information we gather, how we use it, and how to correct or change it. It is our intention to give you an understanding about how we collect your information and the use we make of it in the course of our business.

However, be assured that the company will not disclose Personal Information (as defined herein) to third parties without your consent, except as may be noted in this Privacy Policy or disclosed to you when the information is submitted.

With Whom Does the Company Share Information?

As a general rule, we will not disclose any specific personal information that you submit to us about you ("Personal Information") in a manner that connects you with the Personal Information, except when we have your permission or under special circumstances, such as when we believe in good faith that the law requires it or under the circumstances described below. The following describes some of the ways that your Personal Information may be disclosed.

Business Partners & Sponsors:
We may disclose some or all of your Personal Information to business partners or sponsors, but this use will be specifically described to you prior to data collection or prior to transferring the data. In many instances, only your e-mail address will be shared. If more Personal Information will be shared, you will be notified prior to the transfer.

Third Party & Aggregate Data:
From time to time, you may be offered the opportunity to receive materials or special offers from third parties. If you opt to receive information from these third parties, we will (with your permission) share your name and e-mail address with such third parties. Under confidentiality agreements, we may match Personal Information with third party data. Also, we may keep track of what portions of the website users are visiting and other user statistics, and aggregate this information to help us create a better experience for users of our website. This is all done without knowing your name or other Personal Information in order to describe our viewers and services to prospective partners, advertisers, and other third parties, and for other lawful purposes.

Other:
We may also disclose account information in special cases when we have reason to believe that disclosing this information is necessary to identify, contact or bring legal action against someone who may be violating our Terms of Use, or may be causing injury to or interference (either intentionally or unintentionally) with any of the company's rights or property, other users, or anyone else. We may disclose or access account information when we believe in good faith that the law requires it and for administrative and other purposes that we deem necessary to maintain, service, and improve our products and services.

What Happens When You Link to a Third Party Site?

You should be aware that when you are on the company's websites you can hyperlink, or be directed to, other websites that are beyond our control and/or outside our service. For example, if you "click" on a banner advertisement or a search result, the "click" may transfer you off our website. These other websites may include sites of advertisers, sponsors, and partners that may use our and/or company logo as part of a co-branding agreement. These other websites may send their own cookies to users, collect data, or solicit Personal Information.

We do not control such websites, and, therefore, are not responsible for their contents or the hyperlinks or advertising they choose to place on such websites. The inclusion of hyperlinks to these websites by us affiliates does not imply any endorsement of the material on such websites or any association with their operators. Our Privacy Policy does not extend to anything that is inherent in the operation of the internet, which is beyond our control.

Please keep in mind that whenever you give out information on-line (for example, via message boards or forums) that information can be collected and used by people you do not know. While we strive to protect users' information and privacy, we cannot guarantee the security of any information you disclose on-line, and you disclose such information at your own risk.

Is Information Secure from Others Using the Company's Website?

The security of all information associated with our users is an important concern to us. We exercise care in providing secure transmission of your information from your computer to our servers. Unfortunately, no data transmission over the internet can be guaranteed to be 100% secure. As a result, while we strive to protect your information, we can't ensure or warrant the security of any information you transmit to us or from our on-line products or services, and you do so at your own risk. Once we receive your transmission, we use industry standard efforts to safeguard the confidentiality of your information, such as firewalls and Secure Socket Layers (SSL). However, "perfect security" does not exist on the internet.

YOUR ACCEPTANCE OF THE TERMS OF THIS PRIVACY POLICY

By using our website, you signify your agreement to our Privacy Policy. IF YOU DO NOT AGREE WITH THIS PRIVACY POLICY, PLEASE DO NOT USE THIS WEBSITE. Your continued use of our websites following the posting of changes to these terms will mean you accept those changes.

Effective Date: This policy was last updated on March 24, 2008.