New York Mortgage Trust Company Description
New York Mortgage Trust, a real estate investment trust (REIT) invests in high-quality adjustable rate residential mortgages and mortgage-backed securities. As a REIT, the company distributes 90% of its income to stockholders. Citing a deteriorating mortgage market, the company ceased issuing new loans in 2007, and sold the retail loan origination business of its New York Mortgage Company subsidiary and its 30 US offices to IndyMac Bancorp. Meanwhile, Tribeca Lending, an affiliate of Franklin Credit Management, bought the company's wholesale lending operations.
View the Comprehensive Company Description for New York Mortgage Trust
The Company Description provides a historical perspective of New York Mortgage Trust's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of New York Mortgage Trust's evolution in the marketplace.
