Summary of DEERFIELD CAPITAL CORP.

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On June 17, 2008, Deerfield Capital Corp. (the "Company") was notified by the New York Stock Exchange (the "NYSE") that it was not in compliance with an NYSE continued listing standard applicable to its common stock. That standard requires that the average closing price of any listed security not fall below $1.00 per share for any consecutive 30 trading-day period.

Under NYSE rules, the Company has ten business days, or until July 1, 2008, to notify the NYSE of its intent to cure this deficiency. On June 20, 2008, the Company notified the NYSE of its intent to cure this deficiency. Under NYSE rules, the Company has six months from the date of the NYSE notice do so. If the Company is not compliant by that date, its common stock will be subject to suspension and delisting by the NYSE.

The Company is currently exploring alternatives for curing the deficiency and restoring compliance with the continued listing standards. The Company's common stock remains listed on the NYSE under the symbol DFR, but will be assigned a ".BC" indicator by the NYSE to signify that the Company is not currently in compliance with the NYSE's continued listing standards.

As required under NYSE rules, the Company has also issued a press release regarding the foregoing, a copy of which is attached to this Form 8-K as Exhibit 99.1 and is incorporated herein by reference.