New York Mortgage Trust Board Approves One For Five Reverse Stock Split - Quick Facts (Nasdaq)
(RTTNews) - New York Mortgage Trust Inc. (NMTG.OB) said that its Board approved a one for five reverse stock split, effective on October 9, 2007. As a result of the reverse stock split, every five shares of New York Mortgage Trust's common stock will be automatically converted into one share of common stock.

New York Mortgage Trust, Inc. Announces One for Five Reverse Stock Split (PR Newswire via Yahoo! Finance)
New York Mortgage Trust, Inc. today announced that its Board of Directors approved a one for five reverse stock split, effective at 12:01 a.m. ET on October 9, 2007.

Reverse mortgage marketplace heats up (Investment Executive)
With the arrival of a New Zealand-based company in Canada, the marketplace for reverse mortgages has become considerably more crowded. Mississagua, Ont.-based Seniors Money Ltd.

Lender Lead Solutions First to Announce HECM Reverse Mortgage Based on the LIBOR Index (Business Wire via Yahoo! Finance)
MELVILLE, N.Y.----Lender Lead Solutions, a comprehensive reverse mortgage services company, announced the introduction of a Home Equity Conversion Mortgage based on the London Interbank Offered Rate index.

Tubbs Jones Applauds Passage of Mortgage Forgiveness Debt Relief Act (PR Newswire via Yahoo! News)
Today, Congresswoman Stephanie Tubbs Jones joined a majority of the House in voting in favor of H.R. 3648, the Mortgage Forgiveness Debt Relief Act. This legislation will change the tax law so that homeowners who owe tax on phantom income will be relieved of that burden. The measure passed the House 386-27. She released this statement.