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New York Mortgage Trust announces pricing of securitization transaction

New York MortgageTrust Inc. said April 4 that it priced a $282.8 million securitizationtransaction.

The deal is expected to close April 15.

The transaction involves the issuance and sale of $177.5 millionof class A notes representing beneficial ownership of a pool of performing and reperformingseasoned mortgage loans. These notes have an expected redemption date of March 25,2019, and a stated final maturity date of March 25, 2021. The notes have a statedinterest rate of 4.00% and were sold at a yield of 4.25%.

New York Mortgage Trust will retain $25.5 million of class Mnotes and a $79.8 million equity certificate. It will hold 5% of the class A notesissued, resulting in gross proceeds to the company from the sale of the remainingclass A notes of about $167.7 million.