MuniMae Suspends Dividends, Curbs Activities

Municipal Mortgage & Equity LLC, Baltimore, has announced the suspension of its quarterly dividend and a significant curtailment of its business activities in order to conserve capital. MuniMae said credit market conditions have affected not only some of its assets but also the willingness of certain businesses to participate in MuniMae's activities as equity investors, lenders, or otherwise. "The combination of reduced investor interest and reduced liquidity resulting from these circumstances has led the company to significantly curtail its business activities," the company said. "MuniMae continues, however, to invest in and operate certain businesses, including origination of loans for sale to Fannie Mae and Freddie Mac, activities related to renewable energy generation, and certain new business initiatives." The company can be found online at http://www.munimae.com.