Mortgage IT Holdings completes securitization

Real Estate Weekly, June 8, 2005

MortgageIT Holdings, Inc., a residential mortgage real estate investment trust (REIT), announced the completion of its second loan securitization of 2005 and fourth overall, a public offering of approximately $665.4 million in aggregate principal amount of notes backed by residential, first-lien adjustable rate mortgage (ARM) and hybrid ARM loans, through MortgageIT Trust 2005-2.

Credit Suisse First Boston served as lead underwriter and Merrill Lynch and UBS served as the co-managers of the transaction. Proceeds from the offering will be used to provide long-term financing of mortgage loans originated by MortgageIT Holdings' taxable REIT subsidiary.

"With today's transaction, we have successfully securitized more than $3 billion in self-originated residential mortgage loans in less than nine months following our initial public offering," commented Doug Naidus, Chairman and Chief Executive Officer of MortgageIT Holdings.