Criimi Mae May Enter Origination Biz

Criimi Mae will "someday" have to enter the origination business to make loans for securitization, according to Barry Blattman, president and chief executive officer of the Rockville, Md.-based company.Speaking at a panel discussion on mortgage REITs at the National Association of Real Estate Investment Trusts investor convention, Mr. Blattman said, "As Criimi evolves, we would look at ways to be the originator of product." Mr. Blattman noted that Criimi Mae has not been much affected by refinancing and will continue to do fine "if the Fed keeps it up." He said Federal Reserve Board Chairman Alan Greenspan "has done a great job of jawboning," adding that he has also thrown in "the red herring of deflation." Mr. Blattman said higher rates are likely at some point, but that "the Fed wants to keep the refi party going -- and it is going." Criimi Mae can be found on the Web at http://www.criimimaeinc.com.