| Business Summary | | Municipal
Mortgage
&
Equity,
LLC
and
its
subsidiaries
are
principally
engaged
in
originating,
investing
in
and
servicing
investments
related
to
multifamily
housing
financings.
A
significant
portion
of
the
Company's
investments
are
mortgage
revenue
bonds,
or
interests
in
mortgage
revenue
bonds,
issued
by
state
and
local
governments
or
their
agencies
or
authorities
to
finance
multifamily
housing
developments.
Midland,
acquired
by
the
Company
in
October
1999,
provides
construction
and
permanent
debt
financing,
mortgage
servicing
and
asset
management
services
to
the
multifamily
housing
industry.
Midland
is
a
Federal
National
Mortgage
Association
Delegated
Underwriter
and
Servicer
and
a
Federal
Housing
Administration
approved
mortgagee.
Midland
syndicates
equity
for
investment
in
low-income
housing
tax
credits.
Midland
also
syndicates
equity
and
originates
debt
for
investment
in
student/conventional
housing. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Municipal
Mortgage
and
Equity
LLC
is
in
the
business
of
originating,
investing
in
and
servicing
tax-exempt
mortgage
revenue
bonds
issued
by
state
and
local
government
authorities
to
finance
multifamily
housing
developments.
For
the
six
months
ended
6/01,
revenues
rose
39%
to
$60
million.
Net
income
before
acct.
change
applicable
to
Common
rose
11%
to
$15
million.
Results
reflect
an
increase
in
bond
and
loan
interest,
partially
offset
by
impairments
related
to
investments. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Mark Joseph, 62 Chairman
and CEO | $359K | Michael Falcone, 39 Pres,
COO, Director | 352K | Gary Mentesana, 36 CFO,
Sr. VP | 251K | Robert Banks, 56 Sr.
VP, Director | 346K | Thomas Hobbs, 60 Sr.
VP and Sec. | -- | 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
|
|