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Anworth in compliance, subsidiary seeks options under its master repurchase agreement
By Lisa Kerner
Charlotte, N.C., Aug. 16 - Anworth Mortgage Asset Corp. issued a statement regarding its wholly owned subsidiary, Belvedere Trust Mortgage Corp., and its master repurchase agreement.
According to Anworth, its exposure to its Belvedere Trust subsidiary consists of an initial investment of $100 million and inter-company loans of $42.8 million.
While Belvedere Trust pursues options to satisfy its borrowing obligations to its master repurchase agreement lenders, Anworth expects any recovery above the repurchase agreement liabilities would be "minimal if any."
Anworth, a Santa Monica, Calif., mortgage real estate investment trust, said it remains in full compliance with all of the terms of its master repurchase agreement borrowings.
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