NY Mortgage Trust Completes ARM Deal

Published December 21, 2005, 3:00 p.m. EST

1 Min Read

New York Mortgage Trust Inc., a New York-based real estate investment trust, has announced the completion of an approximately $228.7 million securitization of adjustable-rate mortgage loans.The notes in the transaction, New York Mortgage Trust 2005-3, are backed by first-lien ARMs and hybrid ARMs, all of which were originated through the company's mortgage banking subsidiary, The New York Mortgage Co. LLC. The weighted average loan-to-value ratio of the loans is about 69.5%, and the weighted average FICO score is about 732, the company said. Credit Suisse First Boston LLC served as underwriter for the transaction.

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