American Residential Investment Trust Inc., San Diego, has announced the termination of its status as a real estate investment trust, effective Jan. 1, 2003.ARIT transformed itself last year from a mortgage REIT into a mortgage bank serving mortgage brokers. The company, which traditionally invested in subprime residential mortgage assets, said it funded $4.2 billion in home mortgages in 2002 through its mortgage banking subsidiary, American Mortgage Network. American Residential can be found on the Web at http://www.amerreit.com.
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