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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: reaper who wrote (236181)	4/19/2003 3:21:47 AM
From: Perspective	Read Replies (1) \| Respond to of 436258

You familiar with Dynex? biz.yahoo.com Interesting business they're in: Total assets at December 31, 2002 were $2.24 billion, versus $2.57 billion at December 30, 2001. At December 31, 2002, collateral for collateralized bonds consisted of single-family mortgage loans and securities with an unpaid principal balance of approximately $605 million, manufactured housing loans and securities with an unpaid principal balance of approximately $768 million, and commercial mortgage loans with an unpaid principal balance of approximately $778 million. All such loans and securities had been pledged to support non-recourse collateralized bonds issued by limited purpose subsidiaries of the Company. At December 31, 2002, other investments, consisting principally of delinquent property tax receivables and associated real estate owned, was $54.3 million. The Company anticipates continuing in 2003 its policy of not accruing interest income on such receivables, which was established in 2002. At December 31, 2002, the Company had no remaining recourse debt. BC