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COUNTRYWIDE MORTGAGE INVESTMENTS INC. TO OFFER 7 MILLION ADDITIONAL SHARES OF COMMON STOCK

 PASADENA, Calif., Nov. 17 /PRNewswire/ -- Countrywide Mortgage Investments Inc. (NYSE: CWM) today announced that it filed a registration statement with the Securities and Exchange Commission relating to a proposed public offering of 7 million shares of its common stock. The proposed public offering will be managed by Merrill Lynch & Co. and co-managed by Alex Brown & Sons Inc., PaineWebber Inc., and Dean Witter Reynolds Inc.
 The registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Countrywide Mortgage Investments Inc. is a real estate investment trust that operates a nationwide mortgage conduit and warehouse lending program. The conduit purchases jumbo and other non-conforming mortgages from mortgage bankers, banks, savings and loans, and other financial intermediaries who generally retain the mortgage loan servicing rights. The company then credit-enhances and sells the loans in the form of multiclass mortgage-backed securities (REMICs) or, alternatively, invests in the loans on a long-term basis using financing provided by CMOs. In addition, the company has a warehouse lending program for small and medium-size mortgage bankers. This program provides short- term revolving financing to mortgage originators to finance mortgage loans during the period beginning with the closing of the loan until it is sold to an investor.
 -0- 11/17/93
 /CONTACT: Karel Carnohan of Countrywide Mortgage Investments, 818-304-7523/
 (CWM)


CO: Countrywide Mortgage Investments Inc. ST: California IN: FIN SU: OFR

NY-LS -- LA033 -- 5780 11/17/93 18:50 EST
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Publication:PR Newswire
Date:Nov 17, 1993
Words:318
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