American Church Mort (ACMC)

American Church Mortgage Company is a Minnesota corporation incorporated on May 27, 1994. The Company operates as a Real Estate Investment Trust (REIT) and is engaged in the business of making mortgage loans to churches and other non-profit religious organizations throughout the United States. In underwriting church bonds, American reviews financing proposals, analyzes prospective borrowers' financial capability, and structures, markets and sells, mortgage-backed securities which are debt obligations (bonds) of such borrowers to the investing general public. Its primary business is to make first mortgage loans in amounts ranging from $100,000 to $2,000,000, to churches and other non-profit religious organizations, and selecting and investing in mortgage-secured debt instruments (Church Bonds) issued by churches and other non-profit religious organizations throughout the United States. It offers prospective borrowers a selection of loan types, which include a choice of fixed or variable rates of interest indexed to the prime rate, the U.S. Treasury 10-Year Notes, or another generally recognized reference index, and having various terms to maturity, origination fees and other terms and conditions. Mortgage loan applications are prepared and verified by its Advisor's personnel in its Loan Origination and Underwriting Department.