SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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):
May 26, 1998
America First Mortgage Investments, Inc.
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(Exact name of registrant as specified in its charter)
Maryland 1-13991
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(State of Formation) (Commission File Number)
13-3974868
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(IRS Employer Identification Number)
399 Park Avenue
New York, New York 10022
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(Address of principal executive offices) (Zip Code)
(212) 935-8760
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(Registrant's telephone number, including area code)
Not applicable
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(Former name or former address, if changed since last report)
Item 2. Acquisition or Disposition of Assets. On May 26, 1998, America First
Mortgage Investments, Inc. (the "Registrant") acquired four Federal National
Mortgage Association whole-pool mortgage backed certificates ("FNMA
Certificates") from affiliates of Lehman Brothers, PaineWebber, Incorporated
and Countrywide Securities Corp. with an aggregate original principal balance
of $48,884,285 and one Federal Home Loan Mortgage Corp. mortgage backed
whole-pool participation certificate ("FHLMC PC") from Lehman Brothers with
an original principal balance of $33,127,779. The FNMA Certificates bear
interest at rates ranging from 6.15% to 7.707% per annum and the FHLMC PC
bears interest at the rate of 6.605% per annum. The total purchase price paid
for the FNMA Certificates and FHLMC PCs, including accrued interest, was
approximately $75.5 million. The acquisition was financed through the
issuance of various LIBOR-based reverse repurchase agreements with Lehman
Brothers, PaineWebber, Incorporated and Merrill Lynch & Co and from cash
reserves of the Registrant. There is no relationship between any of Lehman
Brothers, PaineWebber, Incorporated, Countrywide Securities Corp. or Merrill
Lynch &Co. or their respective affiliates, on one hand, and the Registrant or
any of its affiliates, directors or officers or any associate of any of its
directors or officers on the other hand.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERICA FIRST MORTGAGE INVESTMENTS, INC.
By /s/ Stewart Zimmerman
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Stewart Zimmerman, President and Chief Executive
Officer
June 1, 1998
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