American Mortgage Acceptance Company Completes Over $113.2 Million of Financing and Investment Volume.

NEW YORK -- American Mortgage Acceptance Company ("AMAC" or the "Company") (AMEX:AMC) today announced the Company completed over $113.2 million of financing and investment volume in commercial mortgage loans or securities in the first quarter of 2007.

"AMAC participated in several significant transactions in the first quarter of 2007, including a $32.5 million mezzanine loan for the redevelopment of Snowmass Village in Aspen, Colorado and a $10.8 million mezzanine loan for a prominent New York City office building," said J. Larry Duggins, Chief Executive Officer of AMAC. "In addition, AMAC made an approximately $10.1 million investment in the subordinate classes and equity component of a Collateralized Debt Obligation ("CDO") issued by Nomura, which was the first time AMAC invested in the CDO equity of another issuer. Working with our advisor, Centerline Capital Group (formerly CharterMac), we put a strategic program in place to acquire CDO equity investments that capitalizes on Centerline's expertise and high rating as both a CDO Asset Manager and a Special Servicer. Centerline has an existing relationship in place with Nomura and is extremely familiar with the collateral in the CDO issuance. Our pipeline remains solid and we are very pleased with the progress we have made toward meeting our investment goals."

In addition, Mr. Duggins noted, "I would like to reiterate AMAC does not have any exposure to the recent events that occurred in the sub-prime single family loan market in any area of our business. We are not engaged in any form of sub-prime, single family lending activities and do not hold any single family investments on our balance sheet. Our investor relations department has received a high volume of calls over the past few weeks, which led us to believe we are being confused with other mortgage REITs with similar names."

Financing and Investment Summary

During the three months ended March 31, 2007, AMAC's financing and investment volume totaled $113.2 million and consisted of the following:

* $54.3 million of first mortgage loans for retail and multifamily properties

* $45.7 million of mezzanine loans for mixed use and office properties

* $10.1 million investment in subordinate classes the equity interest in a CDO issued by Nomura

* $3.1 million in B-notes

About the Company

AMAC is a real estate investment trust that specializes in multifamily and commercial real estate finance. AMAC originates and acquires first mortgage, mezzanine and bridge loans secured by properties throughout the United States. For more information, please visit our website at http://www.americanmortgageco.com or contact the Investor Relations Department directly at 800-831-4826.

Certain statements in this document may constitute forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are detailed in AMAC's most recent Annual Report on Form 10-K and in its other filings with the Securities and Exchange Commission and include, among others, risks of investing in uninsured and non-investment grade mortgage assets and subordinated Commercial Mortgage-Backed Securities ("CMBS"); competition in acquiring desirable investments; interest rate fluctuations; risks associated with hedging transactions, which can limit gains and increase exposure to loss; risks associated with investments in real estate generally and the properties which secure many of our investments; general economic conditions, particularly as they affect the value of our assets and the credit status of our borrowers; dependence on our external Advisor for all services necessary for our operations; conflicts which may arise among us and other entities affiliated with our Advisor which have similar investment policies to ours; risks associated with the repurchase agreements we utilize to finance our investments and the availability of financing generally; and risks associated with our contemplated CDO transactions, which include, but are not limited to, the inability to acquire eligible investments for a CDO issuance and the inability to find suitable replacement investments in collateralized debt obligations with reinvestment periods. Such forward-looking statements speak only as of the date of this document. AMAC expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in AMAC's expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.