American Home Mortgage Investment Corp. Delays Payment of Quarterly Common Stock and Series A and Series B Preferred Stock Divid

  
    
  
  
    
      American Home Mortgage Investment Corp. (NYSE: AHM) announced today that 
      its Board of Directors has decided to delay payment of its quarterly 
      cash dividend on the Company’s common stock 
      and anticipates delaying payment of its quarterly cash dividends on its 
      Series A Cumulative Redeemable Preferred Stock and Series B Cumulative 
      Redeemable Preferred Stock in order to preserve liquidity until it 
      obtains a better understanding of the impact that current market 
      conditions in the mortgage industry and the broader credit market will 
      have on the Company’s balance sheet and 
      overall liquidity. The disruption in the credit markets in the past few 
      weeks has been unprecedented in the Company’s 
      experience and has caused major write-downs of its loan and security 
      portfolios and consequently has caused significant margin calls with 
      respect to its credit facilities.
    
    
      The quarterly cash dividend of $0.70 per share on the Company’s 
      common stock had been declared on June 15, 2007 and was to be paid on 
      July 27, 2007 to all shareholders of record as of July 9, 2007. The 
      Series A Preferred Stock dividend and Series B Preferred Stock dividend 
      had been declared on June 15, 2007 and are payable on July 31, 2007, to 
      shareholders of record as of July 9, 2007.
    
    
      American Home Mortgage Investment Corp. is a mortgage real estate 
      investment trust (REIT) focused on earning net interest income from 
      self-originated loans and mortgage-backed securities, and, through its 
      taxable subsidiaries, from originating and selling mortgage loans and 
      servicing mortgage loans for institutional investors. Mortgages are 
      originated through a network of loan production offices and mortgage 
      brokers as well as purchased from correspondent lenders, and are 
      serviced at the Company's Irving, Texas servicing center. For additional 
      information, please visit the Company's website at www.americanhm.com.
    
    
      This news release contains "forward-looking statements" that are based 
      upon expectations, estimates, forecasts, projections and assumptions. 
      Any statement in this news release that is not a statement of historical 
      fact, including, but not limited to, earnings guidance and forecasts, 
      projections of financial results and loan origination volume, expected 
      future financial position, dividend plans or business strategy, and any 
      other statements of plans, expectations, objectives, estimates and 
      beliefs, is a forward-looking statement. Words such as "look forward," 
      "will," "anticipate," "may," "expect," "plan," "believe," "intend," 
      "opportunity," "potential," and similar words, or the negatives of those 
      words, are intended to identify forward-looking statements. Such 
      forward-looking statements involve known and unknown risks, 
      uncertainties and other factors that are difficult to predict, and are 
      not guarantees of future performance. As a result, actual future events 
      may differ materially from any future results, performance or 
      achievements expressed in or implied by this news release. Specific 
      factors that might cause such a difference include, but are not limited 
      to: American Home's limited operating history with respect to its 
      portfolio strategy; the potential fluctuations in American Home's 
      operating results; American Home's potential need for additional 
      capital; the direction of interest rates and their subsequent effect on 
      the business of American Home and its subsidiaries; risks associated 
      with the use of leverage; changes in federal and state tax laws 
      affecting REITs; federal and state regulation of mortgage banking; and 
      those risks and uncertainties discussed in filings made by American Home 
      with the Securities and Exchange Commission. Such forward-looking 
      statements are inherently uncertain, and stockholders must recognize 
      that actual results may differ from expectations. American Home does not 
      assume any responsibility, and expressly disclaims any responsibility, 
      to issue updates to any forward-looking statements discussed in this 
      news release, whether as a result of new information, future events or 
      otherwise.