CRIIMI Mai - CMM- Profile

CRIIMI MAE Incorporated. The Company acquires non-investment grade securities backed by pools of commercial mortgage loans on multifamily, retail and other commercial real estate. The Company originates, underwrites and securitizes commercial mortgage loans. The Company invests in government insured and guaranteed mortgages secured by multifamily housing complexes located throughout the United States. The Company and two of its operating subsidiaries, CRIIMI MAE Management Inc. and CRIIMI MAE Holdings II, L.P., filed for relief under chapter 11 of the U.S. Bankruptcy Code in October 1998 and emerged from such proceedings in April 2001. The Company has been approved as an investment trust company by the Internal Revenue Code for accounting periods up to 31-Dec-2000. The Company has qualified for approval as an Investment trust and as an Investment company as defined by Sections 856 through 860.