Earnings Call Excerpt
MFA Mortgage Investments (MFA)
Q1 2008 Earnings Call
April 30, 2008; 10:00 am ET
Executive
Stewart Zimmerman - Chairman of the Board, President, Chief Executive Officer
William Gorin - Chief Financial Officer, Executive Vice President
Ronald Freydberg - Executive Vice President, Chief Portfolio Manager
Teresa Covello - Senior Vice President, Chief Accounting Officer, Treasurer
Craig Knutson - Senior Vice President
Deborah Yang - Vice President
Timothy Korth II - Senior Vice President - Business Development, General Counsel, Secretary
Analyst
Steve DeLaney - JMP Securities
Jason Arnold - RBC Capital Markets
Mike Widner - Stifel Nicolaus & Company, Inc
Stephen Laws - Deutsche Bank Securities
Bose George - KBW
David Hochstim - Bear Stearns
Tayo Okusanya - UBS
James Delisle - Cambridge Place
Barry Cohen - Knott Partners
Hemanth Hirani - Litchfield Capital
Richard Sloan - H&R Realty
Amaru Almanaseer - 36 Capital Group
Presentation
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the first quarter 2008 earnings MFA Mortgage Investments conference call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will be given at that time. (Operator Instructions) As a reminder this conference is being recorded today, April 30th, 2008. I would now like to turn the conference over to our host Stephanie Coyle. Please go ahead.
Stephanie Coyle
Good morning. The information discussed on this conference call today may contain or refer to forward-looking statements regarding MFA, that reflect management’s beliefs, expectations and assumptions as to MFA’s future performance and operations. Many of these statements, which are not historical in nature including those containing words such as anticipate, estimate, should, expect, believe, intend and similar expressions are intended to identify forward-looking statements. All forward-looking statements speak only as of the data on, which they are made.
These types of statements are subject to various known and unknown risks, uncertainties, assumptions and other factors including, but not limited to those relating to changes in the interest rates and the market value of MFA’s investment securities, changes in the prepayment rates on the mortgage loans securing MFA’s investment securities. MFA’s ability to borrow to finance its assets, changes in government regulations affecting MFA’s business, MFA’s ability to maintain its qualification as a real estate investment trust for federal income tax purposes. MFA’s ability to maintain its exemption from registration under the Investment Company Act of 1940 and risks associated with investing in real estate-related assets including changes in business conditions and the general economy.
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