| FORM 3 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 | | OMB APPROVAL | | OMB Number: | 3235-0104 | | Expires: | February 28, 2011 | | Estimated average burden | | hours per response | 0.5 |
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1. Name and Address of Reporting Person*
| 3501 JAMBOREE ROAD, N. TOWER | |
(Street)
| 2. Date of Event Requiring Statement (Month/Day/Year)
08/18/2008 | 3. Issuer Name and Ticker or Trading Symbol
DOWNEY FINANCIAL CORP
[DSL]
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable) | Director | | 10% Owner | | X | Officer (give title below) | | Other (specify below) | | EVP, Corp. Secty, Assoc. GC |
| 5. If Amendment, Date of Original Filed (Month/Day/Year)
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6. Individual or Joint/Group Filing (Check Applicable Line)
| X | Form filed by One Reporting Person | | Form filed by More than One Reporting Person |
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| Table I - Non-Derivative Securities Beneficially Owned |
|---|
| 1. Title of Security (Instr.
4)
| 2.
Amount of Securities Owned (Instr.
4)
| 3. Ownership Form: Direct (D) or Indirect (I) (Instr.
5)
| 4. Nature of Indirect Beneficial Ownership (Instr.
5)
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|---|
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Common Stock
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0
|
D
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Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities) |
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| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year)
| 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Excercise Price of Derivative Security
| 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)
| 6. Nature of Indirect Beneficial Ownership (Instr. 5)
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|---|
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
|---|
| Explanation of Responses: |
| Richard B. Swinney | 08/25/2008 |
| ** Signature of Reporting Person | Date |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. |
| * If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
|
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient,
see Instruction 6 for procedure. |
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |
EX-24
POWER OF ATTORNEY
I hereby appoint each of Jon A. MacDonald, C. Miguel Moreno and
Shannon Monahan, or any of them signing singly, and with full power
of substitution, as my attorney-in-fact to:
(1) prepare, execute in my name and on my behalf, and submit to the U.S.
Securities and Exchange Commission (the "SEC") a Form ID, including
amendments thereto, and any other documents necessary or appropriate
to obtain codes and passwords enabling me to make electronic filings
with the SEC of reports required by Section 16(a) of the Securities
Exchange Act of 1934 or any rule or regulation of the SEC;
(2) execute for and on behalf of me, in my capacity as an officer
and/or director of Downey Financial Corp. ("Downey"), Forms 3,
4, and 5 in accordance with Section 16(a) of the Securities
Exchange Act of 1934 and the rules thereunder;
(3) do and perform all acts for and on my behalf to complete and
execute any such Form 3, 4 or 5, complete and execute any amendment or
amendments thereto, and timely file such form with the SEC and any
stock exchange or similar authority; and
(4) take any other action in connection with the foregoing which,
in the opinion of such attorney-in-fact, may be of benefit to,
in the best interest of, or legally required by me, it being understood
that the documents executed by such attorney-in-fact pursuant to
this Power of Attorney shall be in such form and shall contain
such terms and conditions as such attorney-in-fact may approve
in such attorney-in-fact's discretion.
I acknowledge that the foregoing attorneys-in-fact are not assuming,
nor is Downey assuming, any of my responsibilities to comply
with Section 16 of the Securities Exchange Act of 1934.
This Power of Attorney shall remain in full force and effect until
I am no longer required to file Forms 3, 4 and 5 with respect to my
holdings of and transactions in securities issued by Downey,
unless earlier revoked by me in a signed writing delivered to the
foregoing attorneys-in-fact.
IN WITNESS WHEREOF, I executed this Power of Attorney on August 19,
2008.
Signature:
s/ Paul M. Homan
Print Name: Paul M. Homan