March 24, 2020 / 1:22 AM / 5 days ago

BRIEF-New York Mortgage Trust Says As Of March 23, None Of Co's Financing Counterparties Provided Notice Of Event Of Default

March 23 (Reuters) - New York Mortgage Trust Inc:

* NEW YORK MORTGAGE TRUST -CO, SUBSIDIARIES RECEIVED MARGIN CALLS FROM REPURCHASE AGREEMENT FINANCING COUNTERPARTIES OVER PAST WEEK DUE TO COVID-19

* NEW YORK MORTGAGE TRUST -IS ENGAGING IN DISCUSSIONS WITH ITS FINANCING COUNTERPARTIES WITH REGARD TO ENTERING INTO A FORBEARANCE AGREEMENT

* NEW YORK MORTGAGE TRUST- AS OF MARCH 23, 2020, NONE OF COMPANY’S FINANCING COUNTERPARTIES HAVE PROVIDED COMPANY WITH NOTICE OF AN EVENT OF DEFAULT

* NEW YORK MORTGAGE TRUST-NOTIFIED FINANCING COUNTERPARTIES IT DOESN’T EXPECT TO FUND EXISTING, ANTICIPATED FUTURE MARGIN CALLS IN NEAR TERM

* BOARD HAS APPROVED A SUSPENSION OF COS QUARTERLY DIVIDENDS COMMENCING WITH Q1 DIVIDENDS ON ITS COMMON STOCK Source text for Eikon: Further company coverage:

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