| Business Summary | | Apex
Mortgage
Capital,
Inc.
acquires
United
States
agency
and
other
highly
rated,
single-family
real
estate
adjustable-
and
fixed-rate
mortgage-related
assets.
The
Company
uses
its
equity
capital
and
borrowed
funds
to
seek
to
generate
income
based
on
the
difference
between
the
yield
on
its
mortgage-related
assets
and
the
cost
of
its
borrowings.
The
Company
has
elected
to
be
taxed
as
a
real
estate
investment
trust
(REIT),
and
will
not
generally
be
subject
to
federal
taxes
on
its
income
to
the
extent
that
it
distributes
its
net
income
to
its
stockholders
and
maintains
its
qualification
as
a
REIT.
The
Company
may
also
acquire
other
mortgage
securities
such
as
non-high-quality
mortgage-related
assets
and
other
mortgage
securities
collateralized
by
single-family
mortgage
loans,
mortgage
warehouse
participations,
mortgage
derivative
securities,
subordinated
interests
and
other
mortgage-backed
and
mortgage-collateralized
obligations. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Apex
Mortgage
Capital,
Inc.
is
a
real
estate
investment
trust
engaged
in
acquiring
U.S.
agency
and
other
highly
rated,
adjustable-rate,
single-family
real
estate
mortgage
securities
and
mortgage
loans.
For
the
six
months
ended
6/30/01,
total
revenues
fell
10%
to
$20.8
million.
Net
income
before
acct.
chg.
totalled
$3.5
million,
vs.
a
loss
of
$2.8
million.
Revenues
reflect
decreased
fixed
income
securities
balances.
Net
income
reflects
$1.7
million
in
previously
unrealized
gains. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Marc Stern, 57 Chairman | -- | Philip Barach, 48 Pres,
CEO | $42K | Jeffrey Gundlach, 41 Vice
Chairman and CIO | 42K | David DeVito, 38 Interim
CFO, Controller | -- | Joseph Galligan, 42 Sr.
VP | 26K | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|