Charter Municipal Mortgage Acceptance Co - CHC- Profile

Charter Municipal Mortgage Acceptance Co. The Group's principal activities are the acquisition and ownership of tax-exempt multifamily housing revenue bonds. The Group's primary business is investing in tax-exempt Revenue Bonds secured by multi-family affordable housing properties. Through PW Funding, Inc, the Group originates and services multi-family mortgage loans on behalf of Government Sponsored Enterprises ('GSEs') and government agencies such as Fannie Mae and Freddie Mac and the FHA. Investing accounted for 80% of 2002 revenues and Operating, 20%.