The Company will not hold an investor conference call to discuss its third quarter 2006 financial results. For additional details on the Company’s third quarter 2006 financial results, please see the Company’s Quarterly Report on Form 10-Q, which will be filed with the SEC by November 9, 2006.

MortgageIT Holdings, Inc. (NYSE: MHL) is a self-administered mortgage real estate investment trust (‘‘REIT’’) focused on the residential lending market. The Company self-originates its investment portfolio of high quality adjustable rate mortgage (‘‘ARM’’) loans through MortgageIT, Inc., its wholly owned residential mortgage banking subsidiary. MortgageIT, Inc. is a full-service residential mortgage banking company that is licensed to originate loans throughout the United States. MortgageIT Holdings is organized and conducts its operations to qualify as a REIT for federal income tax purposes. MortgageIT is organized and operates as MortgageIT Holdings' taxable REIT subsidiary. For more information, please visit http://www.mortgageitholdings.com.

Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address the Company’s expected future business and financial performance, and often contain words such as ‘‘expects,’’ ‘‘anticipates,’’ ‘‘intends,’’ ‘‘plans,’’ ‘‘believes,’’ ‘‘will’’ or other similar words or expressions. Forward-looking statements, by their nature, address matters that are, to different degrees, uncertain and include, among other things, statements relating to the Company’s ability to fund a fully-leveraged, self-originated loan portfolio, its anticipated loan funding volume and the Company’s ability to pay dividends. These statements are based on the current economic environment and management's current expectations and beliefs, and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements are inherently subject to significant economic, competitive, and other contingencies that are beyond the control of management. The Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, MortgageIT, Inc.'s continued ability to originate new loans, including loans that the Company deems suitable for its securitization portfolio; changes in the capital markets, including changes in interest rates and/or credit spreads; and other risks detailed in the Company’s Annual Report on Form 10-K that was filed with the Securities and Exchange Commission (‘‘SEC’’) on March 15, 2006 and from time to time in the Company’s other SEC filings. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

Joe LoBello
Brainerd Communicators, Inc.,
+1-212-986-6667,
for MortgageIT Holdings, Inc.

MortgageIT Holdings, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)


	September 30, 2006				December 31, 2005
	(Unaudited)
ASSETS
Cash and cash equivalents		$	43,860			$	36,757
Restricted cash			2,641				712
Marketable securities held to maturity			—				3,675
Portfolio ARM Loans
ARM loans collateralizing debt obligations, net			4,642,282				4,681,554
ARM loans held for securitization, net			—				282
Total Portfolio ARM Loans			4,642,282				4,681,836
Mortgage loans held for sale			3,499,918				3,378,197
Mortgage-backed securities – available for sale			20,982				23,357
Hedging instruments			46,639				54,472
Accounts receivable, net of allowance			140,936				146,043
Prepaids and other assets			44,373				31,262
Goodwill			11,639				11,639
Property and equipment, net			16,607				13,941
Total assets		$	8,469,877			$	8,381,891
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Collateralized debt obligations		$	4,442,590			$	4,485,197
Warehouse lines payable			3,318,868				3,177,990
Repurchase agreements			94,692				87,058
Hedging instruments			7,422				8,801
Junior subordinated debentures			128,871				77,324
Notes payable and other debt			15,000				15,000
Accounts payable, accrued expenses and other liabilities			130,767				176,619
Total liabilities			8,138,210				8,027,989
STOCKHOLDERS' EQUITY:
Common stock, $.01 par value: 125,000,000 shares authorized; 29,276,384 issued and 29,185,984 outstanding in 2006; 28,889,540 issued and 28,799,140 outstanding in 2005			293				289
Treasury stock			(1,178	)			(1,178	)
Additional paid-in capital			395,016				393,304
Unearned compensation – restricted stock			(3,174	)			(5,889	)
Accumulated other comprehensive income (loss)			8,189				13,225
Accumulated deficit			(67,479	)			(45,849	)
Total stockholders' equity			331,667				353,902
Total liabilities and stockholders' equity		$	8,469,877			$	8,381,891

MortgageIT Holdings, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(Dollars and shares in thousands, except per share data)


	Three months ended September 30,								Nine months ended September 30,
	2006				2005				2006				2005
Revenues:
Gain on sale of mortgage loans		$	71,119			$	61,612			$	185,744			$	140,704
Brokerage revenues			4,301				7,506				16,549				20,179
Interest income			114,341				90,384				344,884				212,036
Interest expense			(115,530	)			(75,741	)			(336,853	)			(156,482	)
Net interest (expense) income			(1,189	)			14,643				8,031				55,554
Realized and unrealized (loss) gain on hedging instruments			(1,727	)			—				1,706				9,742
Other			797				209				1,654				715
Total revenues			73,301				83,970				213,684				226,894
Operating expenses:
Compensation and employee benefits			38,742				39,037				111,388				99,051
Processing expenses			16,515				16,014				63,301				40,064
General and administrative expenses			7,130				6,112				22,854				19,117
Rent			2,748				2,700				9,942				7,257
Marketing, loan acquisition and business development			1,320				1,206				3,864				3,126
Professional fees			4,437				2,411				10,879				7,238
Depreciation and amortization			1,699				984				4,888				2,621
Total operating expenses			72,591				68,464				227,116				178,474
Income (loss) before income taxes			710				15,506				(13,432	)			48,420
Income tax (benefit) expense			(731	)			6,841				(15,989	)			15,607
Net income		$	1,441			$	8,665			$	2,557			$	32,813
Per share data:
Basic		$	0.05			$	0.31			$	0.09			$	1.47
Diluted		$	0.05			$	0.30			$	0.09			$	1.44
Weighted average number of shares – basic			28,491				28,077				28,409				22,381
Weighted average number of shares – diluted			28,805				28,427				28,626				22,788


Segment Financial Results for the Third Quarter of 2006

($ thousands – except EPS)	Mortgage Banking						Portfolio				Consolidated
	Amount			EPS			Amount		EPS		Amount			EPS
After tax (loss)/earnings prior to elimination		(2,426	)		(0.08	)		2,704		0.09		278			0.01
Elimination⁽¹⁾		111			0.00			1,052		0.04		1,163			0.04
After tax (loss)/earnings net of elimination		(2,315	)		(0.08	)		3,756		0.13		1,441			0.05
Acquisition related expenses		1,041			0.04			1,105		0.04		2,147			0.07
Earnings excluding acquisition related expenses		(1,274	)		(0.04	)		4,861		0.17		3,588			0.12

Segment Financial Results for the Nine Months ended September 30th of 2006

($ thousands – except EPS)	Mortgage Banking						Portfolio				Consolidated
	Amount			EPS			Amount		EPS		Amount			EPS
After tax (loss)/earnings prior to elimination		(21,780	)		(0.76	)		19,701		0.69		(2,079	)		(0.07	)
Elimination⁽¹⁾		298			0.01			4,338		0.15		4,636			0.16
After tax (loss)/earnings net of elimination		(21,482	)		(0.75	)		24,039		0.84		2,557			0.09
Acquisition related expenses		1,159			0.04			1,105		0.04		2,264			0.08
Earnings excluding acquisition related expenses		(20,323	)		(0.71	)		25,144		0.88		4,821			0.17


(1)	Eliminates the economic impact of inter-company loan sales from the mortgage bank to the portfolio.

Operating Statistics Table


	Rolling five quarter information (Quarter ended)
	Sep 30, 2005				Dec 31, 2005				Mar 31, 2006				Jun 30, 2006				Sep 30, 2006
Mortgage Banking Metrics
Loan volume ($ millions)		$	9,249			$	9,244			$	7,195			$	7,589			$	7,489
% Purchase			48	%			47	%			44	%			48	%			45	%
% Refinance			52	%			53	%			56	%			52	%			55	%
% Funded in MortgageIT name (banked)			95	%			96	%			95	%			95	%			93	%

Held for sale warehouse balance (avg) ($ millions)		$	3,655			$	4,828			$	4,267			$	3,784			$	3,612
Warehouse weighted average coupon			5.24	%			5.59	%			5.60	%			5.63	%			5.29	%
Warehouse borrowing cost			4.36	%			4.95	%			5.31	%			5.86	%			5.67	%
Warehouse net interest margin			0.88	%			0.64	%			0.29	%			−0.22	%			−0.38	%

Number of production branches			58				54				49				47				46

Gain on sale on total loans sold to third parties (Bps)			93				71				71				105				100
Gain on sale prime loans sold to third parties (Bps)			80				70				92				107				102
Gain on sale sub-prime loans sold to third parties (Bps)			175				75				(232	)			(147	)			(173	)

Gain on sale on loans transferred to portfolio (Bps)			78				66				NM				NM				NM
Margin on loans brokered (Bps)			128				122				135				130				129

Loan Portfolio Metrics
Average loan assets in portfolio ($ millions)		$	4,197			$	4,804			$	4,939			$	5,115			$	4,827

Weighted average coupon of loans			5.37	%			5.41	%			5.48	%			5.60	%			5.64	%
Scheduled loan basis amortization			0.28	%			0.26	%			0.18	%			0.28	%			0.17	%
Incremental loan basis amortization due to higher prepayment rates			0.08	%			0.00	%			0.00	%			0.00	%			0.00	%
Net weighted average coupon			5.01	%			5.15	%			5.30	%			5.32	%			5.47	%

Interest expense (net of hedging)			3.93	%			4.19	%			4.47	%			4.52	%			5.10	%
Net interest margin			1.08	%			0.96	%			0.83	%			0.80	%			0.37	%

General and administrative (includes servicing exp)			0.34	%			0.07	%			0.15	%			0.17	%			0.15	%
Credit provision			0.09	%			0.09	%			0.03	%			0.01	%			0.04	%
Acquisition related expenses			0.00	%			0.00	%			0.00	%			0.00	%			0.09	%

Loan portfolio return on assets			0.65	%			0.80	%			0.65	%			0.62	%			0.09	%
Loan portfolio return on assets prior to increased prepayments and acquisition related expenses			0.73	%			0.80	%			0.65	%			0.62	%			0.18	%

Credit Reserve for HFI Portfolio (Based on Average Balance)
Credit reserve balance			0.073	%			0.086	%			0.090	%			0.084	%			0.083	%

60 to 89 days past due			0.26	%			0.26	%			0.25	%			0.22	%			0.20	%
Over 90 days past due			0.04	%			0.12	%			0.03	%			0.06	%			0.21	%
Foreclosure			0.13	%			0.09	%			0.24	%			0.32	%			0.41	%
Total past due and foreclosure			0.43	%			0.47	%			0.52	%			0.60	%			0.81	%


•	The Company sold $7.10 billion of loans to third parties during the third quarter and recognized a gain on sale margin of 100 bps, an increase of 7 bps from the prior year period.


•	The Company did not complete any loan securitizations during the third quarter ended September 30, 2006. The Company’s 100% self-originated portfolio totaled approximately $4.6 billion at the end of the third quarter and included approximately $21.0 million of self-originated mortgage backed securities that the Company retained as part of a securitized loan sale.


•	The Company expects to pay a dividend of $0.05 to $0.10 per share for the fourth quarter of 2006.


•	If, as expected, Deutsche Bank’s acquisition of the Company occurs during the first quarter of 2007, a portion of the expenses incurred by the Company relating to the acquisition will be allocated to the REIT portfolio in that quarter. As a result, the Company expects to pay little or no dividend for the first quarter of 2007.