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CAPSTEAD MORTGAGE ANNOUNCES CMO TOTALING $350 MILLION

 CAPSTEAD MORTGAGE ANNOUNCES CMO TOTALING $350 MILLION
 DALLAS, Jan. 7 /PRNewswire/ -- Capstead Mortgage Corporation (NYSE: CMO) announced today that it recently priced a collateralized mortgage obligation ("CMO") totaling $350 million to be issued by its special-purpose finance subsidiary, Capstead Securities Corporation IV. The transaction will close in February 1992 and will be collateralized by 30- and 15-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 should 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 in January should exceed $450 million, a record for any month."
 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- 1/7/92
 /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:


JT -- NY053 -- 7340 01/07/92 12:58 EST
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Publication:PR Newswire
Date:Jan 7, 1992
Words:223
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