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, Inc. (NASDAQ: NYMT) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- New York Mortgage Trust Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag [Yahoo! Finance]Yahoo! Finance
- New York Mortgage Trust Reports Third Quarter 2024 ResultsGlobeNewswire
- New York Mortgage Trust 2024 Third Quarter Conference Call Scheduled for Thursday, October 31, 2024GlobeNewswire
NYMT
Earnings
- 10/30/24 - Beat
NYMT
Sec Filings
- 11/1/24 - Form 10-Q
- 10/30/24 - Form 8-K
- 9/19/24 - Form 8-K
- NYMT's page on the SEC website