TORONTO, May 23, 2013 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI) is pleased to announce the achievement of a milestone – a mortgage portfolio of $250 million.
Atrium has grown its mortgage portfolio to $250 million, an increase of 25% from December 31, 2012. Approximately 20% of the portfolio is now outside the Greater Toronto Area, primarily in major urban areas as a result of increased origination from its new offices opened in Alberta and British Columbia.
"As a non-bank provider of residential and commercial mortgages, we are pleased to provide our clients with cost-effective alternative financing. Our shareholders continue to benefit from our conservative, focused lending strategies that balance safety with providing stable dividends," said Robert Goodall, President and CEO of Atrium. He also noted, "Our average loan-to-value ratio is 66%, and 85% of our assets are first mortgages."About Atrium As a mortgage investment corporation, Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters.
CONTACT: For further information, please contact Atrium Mortgage Investment Corporation Robert G. Goodall President and Chief Executive Officer Atrium Mortgage Investment Corporation Jeffrey D. Sherman Chief Financial Officer (416) 607-4200 email@example.com www.atriummic.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV