MMAB might be one to watch. Company Background M
Post# of 63824
MMAB might be one to watch.
Company Background
Municipal Mortgage & Equity, LLC (MuniMae) is engaged in the management of its bond portfolio, which consists primarily of tax-exempt bonds issued by state and local government authorities to finance multifamily rental housing developments (including affordable housing, student housing and senior living facilities) and community development districts. The net interest income generated by the Company's bond portfolio is dependent on the performance of the real estate assets, which serve as collateral for these bonds. The bond portfolio is owned by various subsidiaries of MuniMae, and the net interest income generated from the bond portfolio is used primarily to fund its operating expenses and make payments on its senior debt and on its other debt obligations. The Company's bond portfolio is leveraged, and the cash generated by the portfolio is subject to interest rate and debt roll-over risk.
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