MFA Mortgage Chair Plans Stock Sale

The chairman of MFA Mortgage Investments Inc., New York, has told fellow stockholders that he plans to have an entity that he controls sell up to 400,000 shares of MFA stock in the next year.In a letter released Feb. 14, Michael B. Yanney notes that MFA acquired its external adviser, America First Mortgage Advisory Corp., last year in exchange for approximately 1.29 million shares of MFA common stock, of which 80% were allocated to America First Cos. LLC. Mr. Yanney owns a controlling interest in AFC, which still owned 824,000 MFA shares as of Jan. 1, he said. "In 2003, it is my intention to have AFC sell up to 400,000 of its MFA shares in one or multiple transactions," Mr. Yanney said, citing MFA's independent status and "the fact that, as I reach my 70th birthday, I believe it prudent to further diversify my investments and increase flexibility for estate planning purposes." MFA, a real estate investment trust, can be found online at http://www.mfa-reit.com.