Anworth Mortgage Asset Corporation Reports Completion of Third Securitization by Belvedere Trust Mortgage Corporation.Business Editors SANTA MONICA, Calif.--(BUSINESS WIRE)--June 1, 2004 Anworth Mortgage Asset Corporation (NYSE NYSE See: New York Stock Exchange : ANH ANH Anhang (German: Appendix; used in designating Beethoven's music) ANH A New Hope ANH A New Hope (aka Star Wars Episode 4) ANH Alliance for Natural Health ) announced today that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Belvedere Trust Mortgage Corporation, has completed its third securitization of jumbo hybrid adjustable-rate mortgages. The size of the securities offered through Countrywide Securities was approximately $312 million. The details of the offering can be found on Bloomberg under CWHL 2004-HYB3. Lloyd McAdams, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Anworth, said, "We are very pleased with the market's reception of these securities. Anworth has also increased its equity allocation to Belvedere from $25 million as reported earlier to $70 million." About Anworth Mortgage Asset Corporation Anworth is a mortgage real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) which invests in mortgage assets, including mortgage pass-through certificates, collateralized mortgage obligations, mortgage loans and other real estate securities. Anworth generates income for distribution to shareholders based on the difference between the yield on its mortgage assets and the cost of its borrowings. About Belvedere Trust Mortgage Corporation Belvedere has been formed as a qualified mortgage real estate investment trust (REIT) subsidiary to acquire mortgage loans with a focus on high credit-quality adjustable-rate and hybrid loans as well as second-lien mortgages. Belvedere and its subsidiaries securitize such mortgage loans for financing purposes and to sell mortgage-backed securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. in the capital markets. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including increases in the prepayment rates on the mortgage loans securing our mortgage-backed securities, our ability to use borrowings to finance our assets, risks associated with investing in mortgage-related assets, including changes in business conditions and the general economy, our ability to maintain our qualification as a real estate investment trust for federal income tax purposes, and management's ability to manage our growth. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. |
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