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Hanover Capital Securities Inc.


Hanover Capital Securities is a member of NASD, the National Association of Securities Dealers. NASD is a self-regulatory organization of the securities industry responsible for the operation and regulation of the NASDQ stock market and over the counter markets. It also administrates exams for the investments professionals, such as the series of 7 exams.
 
Hanover Capital is a specialty finance company organized in June 1997 as a real estate investment trust, REIT. Their principal business is to generate net interest income by investing in subordinate mortgage backed securities collateralized by pools of single family mortgage loans and purchasing whole single family mortgage loans for investment, securitization and resale. In addition, through their operating subsidiary business segments, Hanover Capital Partners and Hanover Trade, they generate fee income.
 
Hanover Capital Partners provides consulting and outsourcing services, focusing on loan file due diligence reviews, staffing solutions and mortgage assignment and collateral rectification services. They primarily invest in subordinated residential mortgage backed securities and to a lesser extent, mortgage loans. Operating as a tax advantaged REIT, they generally are not subject to Federal and state income taxes to the extent that they distribute their taxable earnings to their stockholders and maintain their qualification as a REIT.
 
Their operating subsidiary business segments, Hanover Trade and Hanover Capital Partners, are subject to Federal and state income tax. They are required to pay dividends amounting to 85 percent of each year’s taxable income and 95 percent of the portion of each year’s capital gain net income that is not taxed at the REIT level by the end of each calendar year. Further, they must declare dividends amounting to 90 percent of their taxable income for each year by the time they file their Federal tax return. Therefore, as a REIT, they generally pass through substantially all of their earnings to shareholders without paying Federal income tax at the corporate level.
 
Hanover Trade provides loan sale advisory services and technology solutions to the mortgage industry. It provides state of the art web based technologies solutions supported by experienced valuation, operations and trading professionals. Hanover Trade provides a full range of asset valuation, analysis and marketing services for performing, sub performing and non performing assets, whole loans and participations, CRA loans and mortgage servicing rights. The company's goal is to have steady growth through working closely with their customers to help them succeed.
 
 
 

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