Luminent Mortgage Capital, a mortgage investing REIT based in San Francisco, said Sept. 11 that it has cut 15 jobs and repaid all warehouse lines on two outstanding whole-loan commitment deals.The real estate investment trust also said a $1 billion warehouse line has been "terminated," adding that "no balances are outstanding under two warehouse lines totaling $1.5 billion." Company chief executive Trez Moore said, "Luminent is moving forward with strategic initiatives designed to capitalize on investment opportunities in this changed market environment. These initiatives are designed to resolve Luminent's liquidity issues and, over the longer term, create opportunities for enhancing the value of Luminent." The REIT can be found online at http://www.luminentcapital.com.

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