Items Tagged with 'Capital Alliance Income Trust Ltd.'


  • Capital Alliance Facing Mounting Losses, Future in Question

    Capital Alliance Income Trust Ltd., a residential mortgage REIT, said Friday that it is facing rapidly increasing pressure from deteriorating market conditions in the subprime credit sector. The San Francisco-based company said that it now expects to report $1.35 million in losses for 2006; in late December, the company had said it expected to lose $900,000. Primarily an investor in residential subprime mortages, CAIT lost $307,308 during 2005. In a letter to shareholders, CAIT president Richard Wrenson said that approximately 34 percent of the REIT's mortgage loans are currently classified as non-performing assets, as measured by mortgage payments delinquencies in excess of 60 days.
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  • Capital Alliance Appoints CEO, Looks to Reverse Losses

    Capital Alliance Income Trust Ltd., a residential mortgage REIT, today announced it has unanimously approved its transition to a “Self Advised� REIT and the unanimous appointment of Richard J. Wrensen as President and Chief Executive Officer. “CAIT needs to focus on reversing its losses, creating earnings, restoring the dividend and enhancing shareholder value," Wrenson said. "Our success will require strategic changes to our existing business model, investment policies and a tremendous amount of hard work.�
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