Press release from GlobeNewswire (a Nasdaq OMX company)
Atrium Mortgage Investment Corporation Achieves $250 Million Mortgage Portfolio
Thursday, May 23, 2013
Atrium Mortgage Investment Corporation Achieves $250 Million Mortgage Portfolio05:40 EDT Thursday, May 23, 2013
TORONTO, May 23, 2013 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI) is pleased to announce the achievement of a milestone – a mortgage portfolio of $250 million.
Atrium has grown its mortgage portfolio to $250 million, an increase of 25% from December 31, 2012. Approximately 20% of the portfolio is now outside the Greater Toronto Area, primarily in major urban areas as a result of increased origination from its new offices opened in Alberta and British Columbia.
"As a non-bank provider of residential and commercial mortgages, we are pleased to provide our clients with cost-effective alternative financing. Our shareholders continue to benefit from our conservative, focused lending strategies that balance safety with providing stable dividends," said Robert Goodall, President and CEO of Atrium. He also noted, "Our average loan-to-value ratio is 66%, and 85% of our assets are first mortgages."
As a mortgage investment corporation, Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters.
CONTACT: For further information, please contact Atrium Mortgage Investment Corporation Robert G. Goodall President and Chief Executive Officer Atrium Mortgage Investment Corporation Jeffrey D. Sherman Chief Financial Officer (416) 607-4200 email@example.com www.atriummic.com