| Business Summary | | Anthracite
Capital,
Inc.
is
a
real
estate
finance
company
that
generates
income
based
on
the
spread
between
the
interest
income
on
its
mortgage
loans
and
securities
investments
and
the
interest
expense
from
borrowings
used
to
finance
its
investments.
The
Company
has
elected
to
be
taxed
as
a
Real
Estate
Investment
Trust.
The
Company's
external
manager,
BlackRock
Financial
Management,
Inc.,
provides
significant
experience
in
traditional
real
estate
loan
origination
and
servicing,
along
with
capital
markets,
investing
and
risk
management
expertise.
The
Company's
three
business
activities
are
originating
high-yield
commercial
real
estate
loans,
investing
in
below-investment-grade
commercial
mortgage-backed
securities,
where
the
Company
has
the
right
to
control
the
foreclosure/workout
process
on
the
underlying
loans
and
acquiring
investment-grade
real
estate-related
securities. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Anthracite
Capital,
Inc.
is
a
REIT
who's
principal
business
is
to
invest
in
a
diversified
portfolio
of
multifamily,
commercial
and
residential
mortgage
loans,
MBS
and
other
R.E.
related
assets.
For
the
six
months
ended
6/01,
revenues
rose
28%
to
$54.7
million.
Net
income
applicable
to
Common
and
before
accounting
change
rose
56%
to
$22.2
million.
Results
reflect
higher
mortgage
loans
and
trading
securities
income
and
a
$6.4
million
increase
in
gains
on
the
sale
of
securities. | More
from
Market Guide: Significant
Developments |
| | |
| Position | Laurence Fink, 48 | Chairman | Hugh Frater, 45 | Pres,
CEO | Richard Shea, 41 | CFO,
Chief Operating Officer | Robert Friedberg, 40 | VP,
Sec. and VP of the Mang. | Chris Milner, 34 | VP |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|