Business Summary
|
American Insured Mortgage Investors is liquidating its mortgage investments, and is expected to terminate its operations on December 31, 2008, unless previously terminated under the provisions of the agreement to terminate. The Company was engaged in the business of originating mortgage loans (Originated Insured Mortgages) and acquiring mortgage loans (Acquired Insured Mortgages and, together with Originated Insured Mortgages, referred to herein as Insured Mortgages) prior to the expiration of its reinvestment period in November 1988. In accordance with the terms of the agreement, the Company is no longer authorized to originate or acquire Insured Mortgages and, consequently, its primary objective is to manage its portfolio of mortgage investments.
| | (Source: 10-K)
|
|
|
