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CAPSTEAD MORTGAGE ANNOUNCES TWO CMOs TOTALING $400 MILLION

 CAPSTEAD MORTGAGE ANNOUNCES TWO CMOs TOTALING $400 MILLION
 DALLAS, April 6 /PRNewswire/ -- Capstead Mortgage Corporation (NYSE: CMO) announced today that it recently priced two collateralized mortgage obligations ("CMOs") totaling $400 million.
 One CMO of $200 million (Series 1992-VI) was priced March 18, and will be collateralized by the company's portfolio of 15-year, fixed- rate, jumbo first mortgage loans. On April 2, 1992 the company priced a $200 million CMO (Series 1992-VII) with the company's 30-year, fixed- rate, jumbo first mortgage loans as collateral. The two CMOs are expected to close on May 29. These transactions will bring the amount of CMOs offered in 1992 to $1.850 billion.
 In commenting on these two transactions, Ronn Lytle, president, said, "The company will benefit during the next several years from the interest spread earned on the mortgage collateral over the interest expense to be paid on the CMO indebtedness."
 Lytle went on to say, "Purchase volume in 1992 of jumbo first mortgage loans continues to be strong. Purchases in the first quarter were $1.4 billion, a record for any quarter in the company's history."
 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 and the issuance of CMOs and other portfolio strategies. It is managed by Capstead Advisers, a subsidiary of Lomas Mortgage USA.
 -0- 4/6/92
 /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:


TS -- NY058 -- 5386 04/06/92 12:56 EDT
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Publication:PR Newswire
Date:Apr 6, 1992
Words:274
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