New York Mortgage Trust- Mortgage REITs see Steep Decline amid Coronavirus Turmoil
Have you suffered losses investing in a mortgage REIT such as New York Mortgage Trust? If so, the securities attorneys at The White Law group may be able to help you to recover your losses through FINRA Arbitration.
Shares of mortgage real-estate investment trusts declined sharply last Wednesday, according to the Wall Street Journal, reflecting growing concerns about firms that “use borrowed money to juice returns at a time when funding markets are in turmoil.”
According to reports on Monday, New York Mortgage Trust announced it received margin calls last week, as well as on Monday, but is unable to meet them. The REIT is reportedly in discussion with counterparties over a forbearance agreement.
Dividends have reportedly been suspended on the common and preferred stock. Unfortunately for investors, shares of New York Mortgage Trust are down -77.05% YTD.
Recovery of Investment Losses
The White Law Group is investigating FINRA arbitration claims involving broker dealers who may have improperly recommended mortgage REITs to investors.
Brokerage firms are required to perform due diligence on any investment they recommend, including mortgage REITs. They must ensure that the investment is suitable for a particular investor in light of that investor’s age, investment objectives, income, net worth, and investment experience. Given the current risk of devaluation of these REITs, such investments are likely only suitable for wealthy and/or sophisticated investors.
If you have suffered losses in a mortgage REIT such as New York Mortgage Trust, please call the securities attorneys of The White Law Group at (888)637-5510 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on the firm, please visit https://www.whitesecuritieslaw.com.