NTR Nutrien Ltd

NEW YORK, May 8 /PRNewswire-FirstCall/ -- New York Mortgage Trust, Inc. (NYSE:NTR) today announced that its first quarter conference call has been rescheduled to 9:00 a.m. ET on Tuesday, May 15, 2007. The call was previously scheduled for Wednesday, May 9, 2007. As of the date of this press release, the Company is in the process of completing the preparation and review of its financial statements for the quarterly period ended March 31, 2007. The sale of substantially all of the operating assets of the retail mortgage origination business to IndyMac Bank, F.S.B. on March 31, 2007 and the subsequent transition period for the Company's exit from the mortgage origination business has delayed the completion and review of the Company's Quarterly Report on Form 10-Q. As a result of the foregoing, the Company intends to file a Notification of Late Filing with the Securities and Exchange Commission for the purpose of receiving a filing extension for its Quarterly Report on Form 10-Q. The Company now expects to report financial results for the first quarter ended March 31, 2007 after the close of market on Monday, May 14, 2007 and file its Quarterly Report on Form 10-Q on Tuesday, March 15, 2007. On Tuesday, May 15, 2007 at 9:00 a.m. ET, New York Mortgage Trust's executive management will host a conference call and audio webcast highlighting the Company's quarterly financial results. The conference call dial-in number is 303-205-0033. A live audio webcast of the conference call can be accessed via the Internet, on a listen-only basis, at http://www.earnings.com/ or at the Investor Relations section of the Company's website at http://www.nymtrust.com/. Please allow extra time, prior to the call, to visit the site and download the necessary software to listen to the Internet broadcast. The online archive of the webcast will be available for approximately 90 days. About New York Mortgage Trust New York Mortgage Trust, Inc., a real estate investment trust (REIT), is engaged in the investment in and management of high credit quality residential adjustable rate mortgage (ARM) loans and mortgage-backed securities (MBS). As of March 31, 2007, the Company has exited the mortgage lending business. The Company's portfolio is comprised of securitized, high credit quality, adjustable and hybrid ARM loans, and purchased MBS. Historically at least 98% of the portfolio has been rated "AA" or "AAA". As a REIT, the Company is not subject to federal income tax provided that it distributes at least 90% of its REIT income to stockholders. Safe Harbor Regarding Forward-Looking Statements Certain statements contained in this press release may be deemed to be forward-looking statements that predict or describe future events or trends. The matters described in these forward-looking statements are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company's control. The Company faces many risks that could cause its actual performance to differ materially from the results predicted by its forward-looking statements, including, without limitation, that a rise in interest rates may cause a decline in the market value of the Company's assets, prepayment rates that may change, borrowings to finance the purchase of assets may not be available on favorable terms, the Company may not be able to maintain its qualification as a REIT for federal tax purposes, the Company may experience the risks associated with investing in mortgage loans, including changes in loan delinquencies, and the Company's hedging strategies may not be effective. The reports that the Company files with the Securities and Exchange Commission contain a fuller description of these and many other risks to which the Company is subject. Because of those risks, the Company's actual results, performance or achievements may differ materially from the results, performance or achievements contemplated by its forward- looking statements. The information set forth in this news release represents management's current expectations and intentions. The Company assumes no responsibility to issue updates to the forward-looking matters discussed in this press release. DATASOURCE: New York Mortgage Trust, Inc. CONTACT: Steven R. Mumma, New York Mortgage Trust President, Co-Chief Executive Officer and Chief Financial Officer, +1-212-792-0107, or ; or General, Joe Calabrese +1-212-827-3772, or Analysts, Julie Tu, +1-212-827-3776, both of Financial Relations Board

Copyright