Boca Raton, FL, November 30, 2007 – On November 30, 2007, Saxena White P.A. filed suit on behalf of shareholders against HomeBanc Corp. (“HomeBanc” or the “Company”) in the United States District Court for the Southern District of Florida.

Based in Atlanta, Georgia, the Company, prior to filing for bankruptcy, engaged in the mortgage banking business principally in the southeast United States. HomeBanc primarily focused on originating purchase money mortgage loans and offered various fixed and adjustable-rate residential mortgage loan products.

The complaint seeks damages for violations of federal securities laws on behalf of all investors who acquired HomeBanc common stock from September 26, 2005 through and including August 3, 2007 (the “Class Period”), including those investors who purchased the Company’s 10% Series A Cumulative Redeemable Preferred Stock (“Series A Preferred Stock”) pursuant or traceable to HomeBanc’s February 2, 2006 offering in which the Company sold 2 million shares of Series A Preferred Stock for $25.00 per share (the “Offering”).

The lawsuit claims that HomeBanc, founder and former Chief Executive Officer Patrick S. Flood, and other executives and directors of the Company violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Sections 11, 12(a) and 15 of the Securities Act of 1933. Specifically, the lawsuit alleges that prior to the Offering and during the Class Period, Defendants issued false and misleading statements touting the Company’s positive financial results and future business prospects, and withheld from investors material adverse information indicating that the internal business environment, structure and policies at HomeBanc were in a severe state of deterioration.

In addition, the lawsuit claims Defendants manipulated the Company’s financial results prior to the Offering in an effort to increase demand for the Company’s Series A Preferred Stock and entice investors to purchase the Company’s common stock.

In marked contrast to the Company’s positive statements prior to the Offering, HomeBanc issued a press release on November 6, 2006 announcing substantial losses for the three and nine months ended September 30, 2006 – the second quarter following the Offering. Over the course of the next thirteen months, HomeBanc would release increasingly adverse financial results, culminating in the August 3, 2007 suspension of the listing of the Company’s common stock and Series A Preferred Stock on the NYSE.

Finally, on August 7, 2007, HomeBanc announced that it was unable to satisfy its mortgage loan funding obligations, and on August 9, 2007, HomeBanc filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code. Less than a year-and-a-half after the Company’s Offering in which it obtained $50 million from unknowing investors, HomeBanc was bankrupt and the Company’s shares were worthless.

You may obtain a copy of the complaint from the Court, by contacting Saxena White P.A. through its website www.saxenawhite.com, by emailing jwhite@saxenawhite.com or gstone@saxenawhite.com, or by calling (561) 394-3399.

If you wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the court no later than January 29, 2008. You may contact the attorneys at Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.