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CAPSTEAD MORTGAGE CORPORATION ANNOUNCES TWO CMOS TOTALING $475 MILLION

CAPSTEAD MORTGAGE CORPORATION ANNOUNCES TWO CMOS TOTALING $475 MILLION
 DALLAS, Feb. 6 /PRNewswire/ -- Capstead Mortgage Corporation (NYSE: CMO) announced today that it recently priced two collateralized mortgage obligations (CMOs) totaling $475 million. One CMO of $125 million (Series 1992-III) was priced Jan. 30, and will be collateralized by the company's portfolio of 5/25 jumbo first-mortgage loans. Interest rates on the collateral are fixed for approximately five years, after which a one-time adjustment is made to fix the interest rate for the remaining 25 years. On Feb. 4, 1992 the company priced a $350 million CMO (Series 1992-IV) with the company's 30-year, fixed-rate, jumbo first-mortgage loans as collateral. Both CMOs are expected to close on March 30. These transactions bring the amount of CMOs priced in 1992 to $1.175 billion.
 In commenting on these two transactions, Ronn Lytle, president, said, "The execution of these two CMOs will provide excellent benefits for the company. 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 has been strong. Purchases for January were $506 million, a record for any month 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- 2/6/92
 /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: SM -- NY103 -- 7935 02/06/92 17:07 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Feb 6, 1992
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