MHL Mortgageit Hldgs

MortgageIT Holdings Closes $1.0 Billion Loan Securitization Transaction Marks Completion of Initial $2.4 Billion Residential Loan Portfolio NEW YORK, Jan. 19 /PRNewswire-FirstCall/ -- MortgageIT Holdings, Inc. (NYSE:MHL), a residential mortgage real estate investment trust (REIT), announced the completion of its first loan securitization of 2005 and third overall, a public offering of approximately $1 billion of notes backed by residential, first-lien adjustable rate mortgage (ARM) and hybrid ARM loans, through MortgageIT Trust 2005-1. UBS Investment Bank served as lead underwriter and Merrill Lynch & Co. and Credit Suisse First Boston served as co-managers of the transaction. Proceeds from the offering will be used to provide long-term financing of mortgage loans originated by MortgageIT Holdings' taxable REIT subsidiary. "With this $1 billion securitization of self-originated ARM loans, we received the most favorable terms we have experienced during the completion of our initial loan portfolio of $2.4 billion," said Doug Naidus, Chairman and Chief Executive Officer of MortgageIT Holdings. "As with our first two transactions, the underlying loans feature a strong credit profile, enabling us to achieve an attractive leverage cost. In just over three months, we have fulfilled our promise to stockholders by securitizing more than $2.4 billion of self-originated ARM loans and delivering a fully self-originated portfolio as scheduled." About MortgageIT Holdings, Inc. MortgageIT Holdings, Inc. (NYSE:MHL) is a residential mortgage real estate investment trust (REIT), which self-originates its investment portfolio of high quality ARM loans through MortgageIT, Inc. (MortgageIT), its wholly owned residential mortgage lending subsidiary. MortgageIT is a full-service residential mortgage banking company that is licensed to originate loans throughout the United States. MortgageIT originates single-family residential mortgage loans of all types, with particular focus on prime adjustable-rate (ARM) loans to include in the REIT portfolio. MortgageIT Holdings is organized and conducts its operations to qualify as a REIT for federal income tax purposes. MortgageIT is organized and operates as MortgageIT Holdings' taxable REIT subsidiary. Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to our ability to manage a fully- leveraged, self-originated loan portfolio, and our anticipated loan funding volume. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward- looking statements. MortgageIT Holdings can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from MortgageIT Holdings' expectations include, but are not limited to, MortgageIT's continued ability to originate new loans, including loans that we deem suitable for our securitization portfolio; changes in the capital markets, including changes in interest rates and/or credit spreads; and other risks detailed in MortgageIT Holdings' Registration Statement on Form S-11 that was declared effective by the Securities and Exchange Commission (SEC) on July 29, 2004 and from time to time in MortgageIT Holdings' SEC Reports. Such forward-looking statements speak only as of the date of this press release. MortgageIT Holdings expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. DATASOURCE: MortgageIT Holdings, Inc. CONTACT: Investors - Sean McGrath, +1-646-346-8700, Media - Ted Swiecichowski, +1-212-651-7653, both of MortgageIT Holdings, Inc.; or Joe LoBello of Brainerd Communicators, Inc., +1-212-986-6667, for MortgageIT Holdings, Inc.

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