Hanover Capital Mortgage Holdings Inc., a New York-based real estate investment trust, has reported a net loss of $22.9 million ($2.66 per share) for the second quarter, compared with a loss of $11.4 million ($1.42 per share) a year earlier. The mortgage REIT attributed the loss partly to an increase in interest expenses connected to the conversion of the company's short-term revolving financing for its primary portfolio of subordinate mortgage-backed securities to a fixed-term financing. An increase in mark-to-market losses of mortgage assets (net of free-standing derivatives) also contributed to the loss, Hanover said. The company can be found online at http://www.hanovercapitalholdings.com.
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