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Atrium Mortgage Investment Corporation Announces Special Dividend And Its Annual Results For 2012

Stocks in this article: AI

Mortgage portfolio

A breakdown of Atrium's mortgage portfolio as at December 31, 2012, with a comparison to the prior year, is provided below:

  December 31, 2012 December 31, 2011
Mortgage category Number Outstanding amount % of Portfolio Number Outstanding amount % of Portfolio
Mixed use real estate/commercial 15  $69,334,931 34.4% 10  $49,563,240 31.6%
Condominium corporation 10 1,629,664  0.8%  9 1,373,602  0.9%
Low rise residential  8 24,302,272 12.0%  6 12,150,000  7.7%
Midrise residential  5 24,381,184 12.1%  4 12,213,154  7.8%
High rise residential  4 23,686,000 11.8%  6  49,500,000 31.6%
House and apartment 31 43,061,190 21.4%  8  18,257,393 11.6%
Construction  4  15,087,981  7.5%  4  13,850,000  8.8%
  77 $201,483,222 100.0% 47 $156,907,389 100.0%

High rise residential loans decreased from 31.6% of the mortgage portfolio at December 31, 2011 to 11.8% at December 31, 2012. This has been offset by an increase in low rise, midrise, house and apartment lending over the same period reflecting Atrium's strategy of increasing its exposure to the lowest risk sectors of the market. The average loan to value in the portfolio stayed relatively constant at 66.7%, with only 7.0% of the portfolio above 75% loan to value.

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