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Article: Capital Alliance Income Trust Ltd. and Western United Life Assurance Corporation Announce New Financial Relationship and Sale of Senior Loan Participations.
- Article from:
- Business Wire
- Article date:
- January 14, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
SAN FRANCISCO--(BUSINESS WIRE)--Jan. 14, 2004
Capital Alliance Income Trust Ltd ("CAIT") (AMEX:CAA) a residential mortgage REIT operating both mortgage investment and mortgage banking businesses, announced that on December 31, 2003 Capital Alliance Funding Corporation ("CAFC"), its mortgage banking subsidiary (collectively "Capital Alliance"), had executed an agreement to sell, on a service retained basis, $3,600,000 in senior 95% loan participations to Western United Life Assurance Corporation ("Western United"), of Spokane, Washington. Under the agreement Capital Alliance retains the right to repurchase at any time the senior ...