UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): February 10, 1998
Commission File Number: 333-11625
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CAPITAL ALLIANCE INCOME TRUST LTD.,
A REAL ESTATE INVESTMENT TRUST
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(Exact name of registrant as specified in its charter)
Delaware 94-3240473
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(State or other Jurisdiction of Incorporation) (I.R.S. Employer
Identification Number)
50 California Street
Suite 2020
San Francisco, California 94111
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(Address of principal executive office) (zip code)
(415) 288-9575
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(Registrant's telephone number, including area code)
Item 1. Changes in Control of Registrant.
Not Applicable.
Item. 2. Acquisition or Disposition of Assets.
Not Applicable.
Item 3. Bankruptcy or Receivership.
Not Applicable.
<PAGE>
Item 4. Changes in Registrant's Certifying Accountants.
Not Applicable.
Item 5. Other Events.
Press Release, Exhibit "A" attached hereto and incorporated herein,
regarding the hiring of Mr. Gary Braunstein as Senior Vice President and
Director of Sales and Marketing of the Registrant's Manager, was issued on
February 10, 1999.
Press Release, Exhibit "B" attached hereto and incorporated herein,
regarding the appointment of Mr. William W. Aubrey, a Vice-President of the
Registrant's Manager, to direct wholesale lending operations for Registrant's
Conduit Mortgage Banking subsidiary, was issued on March 1, 1999.
Item 6. Resignations of Registrant's Directors.
Not Applicable.
Item 7. Financial Statements and Exhibits.
Not Applicable.
Item 8. Change in Fiscal Year.
Not Applicable.
EXHIBITS
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Exhibit Number:
A. Press Release, dated February 10, 1999.
B. Press Release, dated March 1, 1999.
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 16, 1999
Capital Alliance Income Trust Ltd,
A Real Estate Investment Trust
By: /s/ Thomas B. Swartz
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Thomas B. Swartz, Chairman
EXHIBIT "A"
CAPITAL ALLIANCE INCOME TRUST LTD.
ANNOUNCES THAT GARY BRAUNSTEIN WILL DIRECT
MORTGAGE ORIGINATIONS FOR ITS
CONDUIT MORTGAGE BANKING SUBSIDIARY
San Francisco--(Business Wire)--February 10,1999--Capital Alliance Income Trust
Ltd. ("CAIT"), a home mortgage real estate investment trust (AMEX: CAA),
announced that Gary Braunstein has joined Capital Alliance Advisors Inc. as
Senior Vice-President and Director of Sales and Marketing. Capital Alliance
Advisors Inc., by contract, manages and provides mortgage origination services
for CAIT's conduit mortgage banking subsidiary, Capital Alliance Funding
Corporation, as well as for CAIT. Mr. Braunstein will be responsible for
creating product development marketing strategies for, and expanding and
increasing the capacity of, Capital Alliance's wholesale mortgage loan
origination organization. He has over twenty years of increasing management
responsibility in both wholesale and retail mortgage lending and origination..
Prior to joining Capital Alliance, Mr. Braunstein was Vice-President and
Regional Sales Manager (9 states) for Pacific Thrift and Loan, National
Operations, Walnut Creek, CA. and Division Sales Manager (30 states) for Quality
Mortgage USA Inc., Irvine, CA with over $50 million in monthly loan origination
production.
Capital Alliance Funding Corporation is a specialty mortgage banking firm in
which CAIT has a 99% economic interest and is engaged in the business of
originating on a nationwide basis and selling, non-conforming residential
mortgage loans in "whole loan sales" in the subprime secondary market. A portion
of its loan production is provided to CAIT for its portfolio of un- leveraged,
non-conforming mortgage loans on 1-4 unit residential properties located
primarily in the Western United States with a maximum loan-to-value of 75%.
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Contact: Capital Alliance Income Trust Ltd.
Thomas B. Swartz, CEO (415) 288-9575
<PAGE>
EXHIBIT "B"
CAPITAL ALLIANCE INCOME TRUST LTD.
ANNOUNCES THAT WILLIAM W. AUBREY WILL DIRECT
WHOLESALE LENDING OPERATIONS FOR ITS
CONDUIT MORTGAGE BANKING SUBSIDIARY
San Francisco--(Business Wire)--March 1,1999--Capital Alliance Income Trust Ltd.
("CAIT"), a home mortgage real estate investment trust (AMEX: CAA), announced a
strategic business alliance amongst its affiliated companies under which William
W. Aubrey will direct the wholesale mortgage banking operations of Capital
Alliance Advisors Inc. ("CAAI") which provides loan origination, underwriting
and funding services and sales of those loans to the secondary market through
CAIT's conduit mortgage banking subsidiary, Capital Alliance Funding Corporation
("CAFC").
Mr. Aubrey, a Senior Vice-President of CAAI and Executive Vice-President of
Sierra Capital Acceptance, an affiliated mortgage banking firm, through CAAI
will be responsible for the overall day-day-day operations of CAFC's wholesale
mortgage banking operations. He has over 14 years of experience in wholesale
mortgage banking operations, with lengthy stints with Topa Thrift and Loan and
with Citizens Thrift and Loan prior to his joining Sierra Capital Acceptance in
Irvine, CA in 1995.
CAFC is a specialty conduit mortgage banking firm in which CAIT has a 99%
economic interest and is engaged in the business of originating on a nationwide
basis and making whole loan sales of non-conforming residential mortgage loans
in the secondary market. A portion of its loan production is provided to CAIT
for its portfolio of unleveraged, non-conforming mortgage loans on 1-4 unit
residential properties located primarily in the Western United States with a
maximum loan-to-value of 75%.
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Contact: Capital Alliance Income Trust Ltd.
Thomas B. Swartz, CEO (415) 288-9575
