Brief: New York Mortgage Trust Says As Of March 23, None Of Co's Financing Counterparties Provided Notice Of Event Of Default

Adamas Trust

24/03/2020 01:19

March 23 (Reuters) - New York Mortgage Trust Inc  NYMT.O :
    * NEW YORK MORTGAGE TRUST -CO, SUBSIDIARIES RECEIVED MARGIN
CALLS
FROM REPURCHASE AGREEMENT FINANCING COUNTERPARTIES OVER PAST
WEEK DUE TO COVID-19
    * NEW YORK MORTGAGE TRUST -IS ENGAGING IN DISCUSSIONS WITH
ITS
FINANCING COUNTERPARTIES WITH REGARD TO ENTERING INTO A
FORBEARANCE AGREEMENT
    * NEW YORK MORTGAGE TRUST- AS OF MARCH 23, 2020, NONE OF
COMPANY'S
FINANCING COUNTERPARTIES HAVE PROVIDED COMPANY WITH NOTICE OF AN
EVENT OF DEFAULT
    * NEW YORK MORTGAGE TRUST-NOTIFIED FINANCING COUNTERPARTIES
IT
DOESN'T EXPECT TO FUND EXISTING, ANTICIPATED FUTURE MARGIN CALLS
IN NEAR TERM
    * BOARD HAS APPROVED A SUSPENSION OF COS QUARTERLY DIVIDENDS
COMMENCING WITH Q1 DIVIDENDS ON ITS COMMON STOCK

Source text for Eikon:  ID:nGNX6VlVvW 
Further company coverage:  NYMT.O 

 ((Reuters.Briefs@thomsonreuters.com;))