Arlington Asset Investment (NYSE:AIC)
Historical Stock Chart
From May 2019 to May 2024
Aames Investment Corporation (NYSE:AIC), a mortgage real
estate investment trust, today closed a securitization and related
offering by Aames Mortgage Investment Trust 2005-2 of approximately
$1.14 billion of notes backed by non-conforming mortgage loans
transferred to the trust. The securitization lead managers were
Countrywide Securities Corporation and Citigroup Global Markets Inc.
and co-managers were Bear, Stearns & Co. Inc., Credit Suisse First
Boston LLC, Friedman Billings Ramsey & Co., Inc., Lehman Brothers
Inc., Morgan Stanley & Co. and RBS Greenwich Capital.
The notes are characterized as debt for both tax and financial
reporting purposes and represent obligations of Aames Mortgage
Investment Trust 2005-2, a Delaware statutory trust. The assets of the
trust included two groups of mortgage loans secured by one-to-four
family residential mortgages. The notes do not represent a financial
obligation of Aames Investment but will be consolidated onto Aames
Investment's consolidated financial statements under generally
accepted accounting principles.
-0-
*T
Class Class Principal Summary Interest Rate Rating
Amount Formula Moody's /S&P
----------------------------------------------------------------------
1A1 $143,042,000 1 month LIBOR plus 0.080% Aaa/AAA
1A2 $289,696,000 1 month LIBOR plus 0.220% Aaa/AAA
1A3 $17,300,000 1 month LIBOR plus 0.360% Aaa/AAA
2A1 $449,414,000 1 month LIBOR plus 0.230% Aaa/AAA
M1 $40,542,000 1 month LIBOR plus 0.450% Aa1/AA+
M2 $41,121,000 1 month LIBOR plus 0.470% Aa2/AA+
M3 $24,325,000 1 month LIBOR plus 0.500% Aa3/AA
M4 $22,008,000 1 month LIBOR plus 0.630% A1/AA
M5 $19,113,000 1 month LIBOR plus 0.660% A2/AA
M6 $16,796,000 1 month LIBOR plus 0.720% N/R/AA-
M7 $18,533,000 1 month LIBOR plus 1.200% Baa1/A+
M8 $14,479,000 1 month LIBOR plus 1.350% Baa2/A
M9 $13,321,000 1 month LIBOR plus 1.850% Baa3/A-
B1 $12,700,000 1 month LIBOR plus 3.000% N/R/BBB+
B2 $5,833,000 1 month LIBOR plus 3.000% N/R/BBB
B3 $6,950,000 1 month LIBOR plus 3.000% N/R/BBB
B4 $9,264,000 1 month LIBOR plus 3.000% N/R/BBB-
---------------
Total: $1,144,437,000
*T
Contact Information
For more information contact Steven C. Canup, Senior Vice
President - Corporate Development and Investor Relations, in Aames
Investment's Investor Relations Department at (323) 210-5311 or at
info@aamescorp.com via email.
Additional information may also be obtained by visiting
www.aames.net, Aames Investment's website.
Information Regarding Forward Looking Statements
This press release may contain forward-looking statements under
federal securities laws. These statements are based on management's
current expectations and beliefs and are subject to a number of trends
and uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. The risks and
uncertainties that may cause our performance and results to vary
include: (i) changes in overall economic conditions and interest
rates; (ii) an inability to originate subprime hybrid/adjustable
mortgage loans; (iii) increased delinquency rates in our portfolio;
(iv) adverse changes in the securitization and whole loan market for
mortgage loans; (v) declines in real estate values; (vi) limited cash
flow to fund operations and dependence on short-term financing
facilities; (vii) concentration of operations in California, Florida,
New York and Texas; (viii) extensive government regulation;(ix)
intense competition in the mortgage lending industry and (x) an
inability to comply with the federal tax requirements applicable to
REITs and effectively operate within limitations imposed on REITs by
federal tax rules. For a more complete discussion of these risks and
uncertainties and information relating to the company, see the Form
10-K for the year ended December 31, 2004 and other filings with the
SEC made by the company pursuant to the Securities Exchange Act of
1934. Aames Investment expressly disclaims any obligation to update or
revise any forward-looking statements in this press release.