| Business Summary | | Charter
Municipal
Mortgage
Acceptance
Company
is
a
business
trust
principally
engaged
in
the
acquisition
and
ownership
(directly
or
indirectly)
of
tax-exempt
multifamily
housing
revenue
bonds.
The
Company
may
also
acquire,
at
times,
taxable
multifamily
housing
revenue
bonds
(Revenue
Bonds).
Generally,
Revenue
Bonds
are
secured
by
mortgage
loans
on
underlying
properties
(Underlying
Properties).
Revenue
Bonds
that
contain
provisions
for
the
Company
to
receive
additional
interest
payments
by
participating
with
the
borrower
in
a
portion
of
the
cash
flow,
sale
or
refinancing
proceeds
on
the
Underlying
Properties
are
referred
to
as
"participating."
Revenue
Bonds
lacking
this
provision
are
referred
to
as
"non-participating."
As
of
December
31,
2000,
98.5%
of
the
Revenue
Bond
par
amount
owned
by
the
Company
were
first
mortgage
bonds,
of
which
there
were
59
Revenue
Bonds,
with
a
par
value
of
$429,371,365,
with
Underlying
Properties
either
under
construction
or
undergoing
major
rehabilitation. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Charter
Municipal
Mortgage
Acceptance
Company
is
a
business
trust
company
that
specializes
in
the
financing
of
tax
exempt
multi-family
housing.
For
the
six
months
ended
6/30/01,
revenues
increased
35%
to
$34.3
million.
Net
income
applicable
to
Common
increased
25%
to
$14.8
million.
Revenues
benefitted
from
the
acquisition
of
Revenue
Bonds
during
2000
and
2001.
Earnings
were
partially
offset
by
a
higher
outstanding
balance
of
the
Tender
Option
Program. | More
from
Market Guide: Significant
Developments |
| | |
| Position | Stephen Ross, 60 | Chairman | Stuart Boesky, 44 | Pres,
COO, Managing Trustee | Peter Allen, 55 | Managing
Trustee | Michael Brenner, 55 | Managing
Trustee | Arthur Fisch, 59 | Managing
Trustee |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|