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| related topics |
| {investment, property, distribution} |
| {tax, income, asset} |
| {loan, real, estate} |
| {loss, insurance, financial} |
| {debt, indebtedness, cash} |
| {provision, law, control} |
| {stock, price, share} |
| {financial, litigation, operation} |
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1. RISKS RELATED TO OUR LIQUIDITY.
A FURTHER MARKET DECLINE OF VARIOUS TYPES OF MORTGAGE PRODUCTS MAY FURTHER DECREASE ASSET VALUES AND FINANCING OPTIONS, AFFECTING OUR LIQUIDITY.
THE MARKET FOR EXECUTING CDO TRANSACTIONS HAS CEASED.
2. RISKS RELATED TO OUR DEBT OBLIGATIONS.
SHORT-TERM REPURCHASE AGREEMENTS INVOLVE RISK OF LOSS.
FORCED TO SELL ASSETS, AND OUR PROFITABILITY MAY BE ADVERSELY AFFECTED.
GREATER RIGHTS IN THE EVENT OF BANKRUPTCY.
THERE ARE RISKS ASSOCIATED WITH OUR CDO TRANSACTIONS.
WE MAY NOT BE ABLE TO FIND SUITABLE INVESTMENTS.
REQUIREMENTS MAY HAVE A NEGATIVE IMPACT ON OUR CASH FLOW.
HOLDERS OF OUR CDOS.
HEDGING TRANSACTIONS CAN LIMIT GAINS AND INCREASE EXPOSURE TO LOSSES.
WE MAY BE CALLED TO REPAY OUR DEBT FACILITIES IF WE FAIL TO COMPLY WITH CERTAIN COVENANTS.
3. RISKS RELATED TO OUR INVESTMENTS.
THERE ARE RISKS ASSOCIATED WITH INVESTMENTS SECURED BY REAL ESTATE, WHICH MAY NEGATIVELY AFFECT OUR EARNINGS.
COMMERCIAL REAL ESTATE INVESTMENTS THAT ARE NON-INVESTMENT GRADE INVOLVE RISK OF LOSS.
OUR INVESTMENT PORTFOLIO INCLUDES UNDER-PERFORMING AND IMPAIRED LOANS, WHICH MAY BE IN DEFAULT OR SUBJECT TO AN INCREASED RISK OF DELINQUENCY, FORECLOSURE OR LOSS. THE OCCURRENCE OF SUCH EVENTS COULD REDUCE OUR EARNINGS AND NEGATIVELY AFFECT THE CASH AVAILABLE FOR DISTRIBUTION TO OUR SHAREHOLDERS.
COMPETITION IN ACQUIRING DESIRABLE INVESTMENTS MAY LIMIT THEIR AVAILABILITY WHICH COULD, IN TURN, NEGATIVELY AFFECT OUR ABILITY TO GENERATE NET INCOME.
INTEREST RATE FLUCTUATIONS WILL AFFECT THE VALUE OF OUR ASSETS AND OUR ABILITY TO GENERATE NET INCOME.
PREPAYMENT RATES MAY NEGATIVELY AFFECT THE VALUE OF OUR INVESTMENTS.
WE MAY NOT ACCURATELY ASSESS INVESTMENT YIELDS, WHICH MAY NEGATIVELY AFFECT OUR EARNINGS.
PARTICIPATING INTERESTS IN MORTGAGES MAY NOT BE REALIZED.
CONCENTRATION AND THE CREDIT QUALITY OF BORROWERS MAY RESULT IN LOSSES.
4. RISKS RELATED TO OUR ADVISOR.
WE ARE DEPENDENT ON OUR ADVISOR AND IF OUR ADVISOR TERMINATES THE ADVISORY AGREEMENT, WE MAY NOT BE ABLE TO FIND AN ADEQUATE REPLACEMENT ADVISOR.
CONFLICTS OF INTEREST COULD ARISE AMONG US AND OUR RELATED PARTIES.
CONFLICTS OF INTEREST COULD ARISE IN TRANSACTIONS WHERE WE LEND TO OR BORROW FROM AFFILIATES OF OUR ADVISOR.
OUR BOARD OF TRUSTEES OR OUR ADVISOR CAN CHANGE OUR BUSINESS POLICIES UNILATERALLY.
5. RISKS RELATED TO OUR CLASSIFICATION AS A REIT AND NOT AS AN INVESTMENT COMPANY.
FAILURE TO QUALIFY AS A REIT WOULD SUBJECT US TO FEDERAL, STATE AND LOCAL INCOME TAXES, WHICH WOULD REDUCE THE NET INCOME AND CASH AVAILABLE FOR DISTRIBUTION TO OUR SHAREHOLDERS.
AS A REIT, OUR INCOME CAN ONLY COME FROM LIMITED TYPES OF SOURCES.
FAILURE TO MAKE REQUIRED DISTRIBUTIONS WOULD SUBJECT US TO TAX, WHICH WOULD REDUCE THE CASH AVAILABLE FOR DISTRIBUTION TO OUR SHAREHOLDERS.
WE ARE ALSO SUBJECT TO OTHER TAX LIABILITIES.
LIQUIDATION OF COLLATERAL MAY JEOPARDIZE OUR REIT STATUS.
CHANGES IN TAX LAWS REGARDING REITS COULD ADVERSELY AFFECT OUR NET INCOME.
LOSS OF INVESTMENT COMPANY ACT EXCLUSION WOULD ADVERSELY AFFECT US.
DIVIDENDS PAYABLE BY REITS DO NOT QUALIFY FOR THE REDUCED TAX RATES.
6. RISKS RELATED TO OUR OUTSTANDING SHARES AND OUR SHAREHOLDERS.
RESTRICTIONS ON SHARE ACCUMULATION IN REITS COULD DISCOURAGE A CHANGE OF CONTROL OF OUR COMPANY.
SUPERMAJORITY VOTING REQUIREMENTS FOR ACQUISITIONS, MERGERS AND OTHER FACTORS COULD DISCOURAGE A CHANGE OF CONTROL OF OUR COMPANY.
ISSUANCES OF LARGE AMOUNTS OF OUR COMMON SHARES COULD CAUSE OUR SHARE PRICE TO DECLINE.
OUR SHAREHOLDERS MAY HAVE PERSONAL LIABILITY FOR OUR ACTS AND OBLIGATIONS.
Full 10-K form ▸
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