Business Context and Reporting Period
This Form 8-K Current Report was filed by New York Mortgage Trust, Inc. (the "Company") on December 15, 2006, covering events occurring on December 12, 2006. The filing addresses the entry into a material definitive agreement regarding the Company's financing arrangements.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, or margin data. The primary financial metric disclosed relates to debt capacity:
- Debt Facility: A $300.0 million warehouse line of credit under a Master Repurchase Agreement.
- Liquidity: The amendment extends the availability of this credit facility.
Material Changes
The Company entered into Amendment Number One to its Master Repurchase Agreement dated December 13, 2005. The key change is the extension of the final maturity date of the $300.0 million warehouse line of credit from its original date to December 12, 2007. The agreement involves DB Structured Products, Inc., Aspen Funding Corp., Newport Funding Corp., NYMC Loan Corporation, and the Company.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard disclosure of the agreement amendment. No unusual items or contingencies were reported in this document.
Investor Verification Checklist
- Verify the terms of the amended Master Repurchase Agreement (Exhibit 10.1) for any changes to interest rates, fees, or covenants not explicitly detailed in the summary.
- Confirm the utilization status of the $300.0 million warehouse line of credit as of the filing date.
- Review the Company's most recent 10-K or 10-Q for comprehensive financial statements, as this 8-K does not contain periodic financial results.