Exhibit 99.1

Delta Financial Reports Fourth Quarter and Full-Year 2006 Results
Record Fourth Quarter and Full-Year 2006 Loan Origination Volume


Woodbury, NY, March 7, 2007 - Delta Financial Corporation (Amex: DFC) today reported its financial results for the three and twelve months ended December 31, 2006.
 
For the three months ended December 31, 2006, the Company reported net income of $8.0 million, or $0.33 per diluted share, compared to net income of $5.7 million, or $0.27 per diluted share, for the comparable period last year. For the twelve months ended December 31, 2006, the Company reported net income of $29.8 million, or $1.28 per diluted share, compared to net income of $18.0 million, or $0.84 per diluted share, for the comparable period last year.

Fourth Quarter 2006 and Other Highlights 
 
·  
Originated a record $1.1 billion of mortgage loans in the fourth quarter of 2006, a 13% increase from the third quarter of 2006 and a 3% increase from the fourth quarter of 2005.
 
·  
Fourth quarter total cost to originate, as a percentage of total loan production decreased to 1.6%.
 
·  
Sold $210 million loans on a whole-loan basis for an average premium of 3.9% in the fourth quarter of 2006.
 
·  
In the fourth quarter of 2006, annualized after-tax return on equity was 22%.
 
·  
Completed an asset-backed securitization collateralized by $625 million of mortgage loans in December 2006.
 
·  
Paid a quarterly cash dividend on January 5, 2007 of $0.05 per share of common stock to stockholders of record on December 26, 2006.
 
·  
Celebrated the 25th anniversary of Delta Funding Corporation, a wholly owned subsidiary of Delta Financial Corporation, in January 2007.
 
 
Full-Year 2006 Highlights

·
Originated a record $4.0 billion of mortgage loans for full-year 2006, a 5% increase over the full-year 2005 loan origination volume of $3.8 billion.
 
·
Mortgage loans held for investment, net increased 37% to approximately $6.4 billion at December 31, 2006, up from $4.6 billion at December 31, 2005.
 
·
Total cost to originate, as a percentage of total loan production, for the full-year 2006 decreased to 2.0%.
 
·
Sold $725 million loans on a whole-loan basis for an average premium of 3.7% for the full-year 2006.
 
·
Increased warehouse lines of credit during 2006 by $500 million, bringing total available liquidity for these facilities to $1.75 billion, through RBS Greenwich Capital, Citigroup, Bank of America, and two new providers, JPMorgan Chase and Deutsche Bank.
 
 
1

The following information was filed by Delta Financial Corp on Thursday, March 8, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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