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RAC MORTGAGE INVESTMENT CORPORATION TO BECOME SELF-MANAGED

 RAC MORTGAGE INVESTMENT CORPORATION TO BECOME SELF-MANAGED
 COLUMBIA, Md., April 20 /PRNewswire/ -- RAC Mortgage Investment Corporation (NYSE: RMR) announced today that the company will operate on a self-managed basis.
 The company had previously contracted with an outside manager, Ryland Acceptance Corporation, to handle its business affairs. The company said it believes this change is in the best interest of its shareholders.
 The directors said they are pleased to announce that key members of the current management group will join the company as direct employees. This includes Thomas H. Potts, president; Michael J. Sonnenfeld, senior vice president; Lynn K. Geurin, treasurer and secretary; Lance W. Anderson, vice president for the mortgage purchase program, and Mary Margaret Smithers, vice president and portfolio manager.
 RAC Mortgage is a publicly held real estate investment trust that purchases and securitizes residential mortgage loans, invests in residential mortgage-related securities and provides funding for mortgage warehouse lines of credit.
 -0- 4/20/92
 /CONTACT: Sylvia R. Gillan of RAC Mortgage Investment, 410-730-6851/
 (RMR) CO: RAC Mortgage Investment Corporation ST: Maryland IN: FIN SU:


MK-MP -- PH005 -- 9884 04/20/92 09:22 EDT
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Publication:PR Newswire
Date:Apr 20, 1992
Words:185
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