AMAC Continuing To Sell Assets At A Loss

Law360 (April 1, 2008, 12:00 AM EDT) -- American Mortgage Acceptance Co., which sold more than $280 million in assets at a loss last year and has shed another $58.1 million at a $3.1 million loss in the past three months alone in order to meet margin calls, may not be finished with its sell-off, the company said.

AMAC filed its 2007 annual report with the U.S. Securities and Exchange Commission on Monday. The company blamed its losses on the need to repay debt and meet margin calls conspired with a market in which...
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