Municipal Mortgage & Equity LLC, Baltimore, has reported net income of $72.5 million ($2.44 per share) for 2003, compared with $28.8 million ($1.13 per share) the year before.MuniMae, an investor in multifamily mortgage debt and equity, said the increased earnings "resulted primarily from a $25.7 million transaction recorded as discontinued operations and a $21.2 million decrease in losses on derivative securities." For the fourth quarter of 2003, the company reported net income of 9.3 million ($0.29 per share), down from $10.7 million ($0.42 per share) for the comparable period of 2002. MuniMae can be found on the Web at http://www.munimaemidland.com.
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