CAPSTEAD MORTGAGE ANNOUNCES CMO TOTALING $350 MILLION
CAPSTEAD MORTGAGE ANNOUNCES CMO TOTALING $350 MILLION DALLAS, Dec. 6 /PRNewswire/ -- Capstead Mortgage Corporation
(NYSE: CMO) announced today that it recently priced a collateralized mortgage obligation (CMO) totaling $350 million. The transaction will close in January 1992 and will be collateralized by 30-year, fixed-rate, jumbo first mortgage loans from the company's own portfolio. In commenting on the transaction, Ronn Lytle, president said, "The closing of this CMO will provide excellent benefits for the company. The company's residual investment will provide a rate of return greater than the company's targeted rate of 20 percent."
Lytle went on to say, "Purchase volume continues at record levels. Purchases will exceed $1.0 billion in the fourth quarter, $2.0 billion for the year." Capstead Mortgage Corporation invests in long-term, single-family residential mortgages for the purpose of offering investors the opportunity to participate in the income generated from the management of a portfolio of mortgage loans utilizing pooling into pass-through certificates and the issuance of CMOs and other portfolio strategies. It is managed by Capstead Advisers, a subsidiary of Lomas Mortgage USA. -0- 12/6/91 /CONTACT: Ronn Lytle, 214-746-8231, or Andy Jacobs 214-746-8240, both of Capstead Mortgage/ (CMO) CO: Capstead Mortgage Corporation ST: Texas IN: FIN SU: FC -- NY047 -- 0144 12/06/91 13:37 EST
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|Date:||Dec 6, 1991|
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