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Saturday, December 8, 2007

American Mortgage seeks options after losses

December 8 2007
American Mortgage Acceptance Co said it was exploring strategic options after the real estate investment trust liquidated certain investments to meet margin calls, sending its stock down more than 40 percent in after-hours trading. American Mortgage said it sold its Fannie Mae and Ginnie Mae debt securities and may need to sell additional assets to maintain liquidity. The company, which originates and buys mortgage loans and other debt instruments usually secured by U.S. multifamily and commercial properties, said its board also decided not to declare its regular fourth-quarter dividend to common shareholders.

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