The co-chief executive officer of New York Mortgage Trust Inc., David A. Akre, has resigned from the company, effective immediately. Steven R. Mumma, who had been co-CEO, president and chief financial officer, is now the company's sole CEO, while retaining his other positions. Mr. Akre was one of the founders of NYMT and held the co-CEO position from when the company went public in 2004. Until the first quarter of 2007, NYMT had been a wholesale and retail mortgage lender. Now the company is a real estate investment trust that invests in mortgage-backed securities and adjustable-rate mortgages.
Processing Content
