Some New Ammunition For Mezzanine Loan Warfare [Forbes]
New York Mortgage Trust, Inc. (NYMT)
Last new york mortgage trust, inc. earnings: 2/24 04:05 pm
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Source: Forbes
getty Real estate capital stacks often include both mortgage loans secured by real estate and mezzanine loans secured by pledges of membership interests in the limited liability companies that own the same real estate. In New York, mortgages can take years to foreclose because New York is in the minority of states that always require judicial proceedings to foreclose. Those proceedings often move with glacial speed. In contrast, if a mezzanine lender wants to foreclose on a pledge of membership interests, it can do this without involving a court. The lender just needs to comply with a law called the Uniform Commercial Code, which provides for nonjudicial foreclosure proceedings that are relatively quick, at least in comparison with New York mortgage foreclosures. The UCC requires any mezzanine lender to conduct its foreclosure proceedings in a way that is “commercially reasonable” in every respect. Mezzanine borrowers who face foreclosure will sometimes try to assert that the l
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NYMT
News
- New York Mortgage Trust, Inc. (NASDAQ: NYMT) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- New York Mortgage Trust Declares Third Quarter 2024 Common Stock Dividend of $0.20 Per Share, and Preferred Stock DividendsGlobeNewswire
- New York Mortgage Trust, Inc. (NASDAQ: NYMT) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Lightning Round: Hold onto or buy more IBM, says Jim Cramer [CNBC]CNBC
- New York Mortgage Trust, Inc. (NASDAQ: NYMT) was upgraded by analysts at Janney Montgomery Scott to a "hold" rating.MarketBeat
NYMT
Earnings
- 7/31/24 - Miss
NYMT
Sec Filings
- 9/19/24 - Form 8-K
- 8/26/24 - Form 4
- 8/26/24 - Form 4
- NYMT's page on the SEC website