| Business Summary | | American
Mortgage
Acceptance
Company
(AMAC)
is
a
real
estate
investment
trust
that
focuses
on
three
types
of
mortgage
products:
origination
of
participating
FHA
insured
multifamily
mortgages;
origination
of
construction
and
permanent
mortgage
financing
for
affordable
multifamily
housing
pursuant
to
a
new
venture
with
Federal
National
Mortgage
Association;
and
acquisition
of
direct
and
indirect
subordinated
interests
in
commercial
mortgage-backed
securities.
AMAC
is
governed
by
a
board
of
trustees
comprised
of
two
independent
trustees
and
one
trustee
who
is
affiliated
with
Related
Capital
Company
(Related).
The
Company
has
engaged
Related
AMI
Associates,
Inc.,
an
affiliate
of
Related,
to
manage
its
day-to-day
affairs. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | American
Mortgage
Acceptance
is
a
publicly
traded
REIT
which
focuses
on
mortgage
loans
originations
and
the
acquisition
of
Fannie
Mae
and
other
government
insured
mortgages.
For
the
six
months
ended
6/30/01,
revenues
fell
11%
to
$3.7
million.
Net
income
rose
from
$1.1
million
to
$2.6
million.
Revenues
reflect
the
absence
of
a
$1.9
million
gain
from
securities
investment.
Earnings
reflect
the
termination
of
repurchase
facility
and
the
absence
of
a
$711
thousand
loss
on
investment. | More
from
Market Guide: Significant
Developments |
| | |
| Position | Stuart Boesky, 44 | Chairman,
Pres, CEO | Michael Wirth, 42 | CFO,
Sr. VP | Peter Allen, 55 | Managing
Trustee | Arthur Fisch, 59 | Managing
Trustee | Bruce Brown, 47 | Sr.
VP |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|