Arbor Realty Trust Inc. (ABR) narrowed its fourth-quarter loss, as the real estate investment trust originated 14 new loans and acquired six mortgage-backed securities valued at $31.8 million. 

The Uniondale, N.Y.-based REIT, which invests in bridge and mezzanine loans as well as preferred and direct investments and mortgage-related securities, reported a loss of $27.8 million, or $1.15 a share, for the three months ended Dec. 31, compared to a loss of $41.1 million, or $1.62 a share, a year earlier. 

For 2011, Arbor Realty reported a loss of $40.3 million, or $1.61 a share, compared to earnings of $112.9 million, or $4.39 a share, a year earlier.

During the fourth quarter, the REIT recorded $20.4 million in loan loss reserves and $4.7 million from a loss on the sale of a loan. 

The average balance of the company’s loan and investment portfolio hit $1.6 billion during the fourth quarter and the average yield on the assets for the quarter hit 4.69%, compared to a yield of 4.61% in the third quarter. 

kpanchuk@housingwire.com

Most Popular Articles

CFPB to consider changing or eliminating TRID rule

The CFPB has been taking a long, hard look at some of its rules and regulations. Next up on its list to review is TRID, and it looks like eliminating the rule entirely is not off the table.

Nov 20, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please