SecProbe.io

CORRESP
1
filename1.htm

    October
      16, 2007

    VIA
      EDGAR

    Mr.
      Kevin
      Woody

    Branch
      Chief

    United
      States Securities and Exchange Commission

    Division
      of Corporate Finance

    100
      F
      Street, N.E.

    Washington,
      D.C. 20549

            RE:

              New
                York Mortgage Trust, Inc.

    Form
      10-K
      for the fiscal year ended December 31, 2006

    File
      No.
      001-32216

    Dear
      Mr.
      Woody:

    This
      letter is in response to the additional comments of the staff (the “Staff”) of
      the Division of Corporation Finance of the Securities and Exchange Commission
      (the “Commission”) made in your letter dated October 16, 2007 with respect to
      the Annual Report on Form 10-K for the year ended December 31, 2006 of New
      York
      Mortgage Trust, Inc. (the “Company”).

    For
      convenience of reference, each Staff comment contained in your letter is
      reprinted below in italics, numbered to correspond with the paragraph numbers
      assigned in your October 16, 2007 comment letter, and is followed by the
      corresponding response of the Company.

    Form
      10-K for the fiscal year ended December 31, 2006

    Financial
      Statements

    Investment
      Securities Available for Sale, page F-15

          Mr.
            Kevin
            Woody

          Securities
            and Exchange Commission

          October
            16, 2007

          Page
            2

    1. We
      note your response to prior comment 4 and your indication that the $23.9 million
      of NYMT Retained Securities as of December 31, 2006 was comprised of $21.9
      million of securities rated BBB or higher and $2.0 million of non-investment
      grade securities. Please help us better understand the quality of the dealer
      quotes which you utilize for the purposes of valuing your securities. In your
      response, please tell us for both the investment grade portion and for the
      non-investment grade portion of your securities whether the dealer quotes you
      obtain represent unadjusted price quotes for identical securities in active
      markets and to what degree such dealer quotes were available to price your
      NYMT
      Retained Securities as of December 31, 2006. If such “high quality” dealer
      quotes were not available to price a portion of your NYMT Retained Securities,
      please quantify/segregate that portion of your securities for us and describe
      the quality of the quotes which were used in such circumstances and how you
      generally utilize such quotes to make valuations on your securities. For
      instance, tell us if you are using dealer quotes on similar assets, whether
      or
      not these quotes are based on active markets and whether the quotes are
      current.

    RESPONSE:

    In
      response to the Staff’s question above, the Company hereby clarifies that all
      securities held in its Investment Securities
      Available for Sale investment portfolio, including both investment grade and
      non-investment grade securities, are based on unadjusted price quotes for
      similar securities in active markets. These quotes were readily available and
      were obtained from dealers actively making markets in similar typed securities.
      In no case did the Company rely on pricing models to establish valuation for
      financial reporting purposes.

    General

    2. We
      note your response to prior comment 5. In future filings, please include the
      reconciliation of the carrying amount of mortgage loans described in footnote
      6
      to Schedule IV - Mortgage Loans on Real Estate.

    RESPONSE:

    In
      all
      future periodic filings with the SEC, starting with the Quarterly Report on
      Form
      10-Q for the period ending September 30, 2007, the Company will include
      reconciliation of the carrying amount of mortgage loans described in footnote
      6
      to Schedule IV - Mortgage Loans on Real Estate Schedule IV.

    In
      connection with its response to your comments set forth above, the Company
      acknowledges that:

    (1)
      the
      Company is responsible for the adequacy and accuracy of the disclosure in its
      filings;

    (2)
      staff
      comments or changes to disclosure in response to staff comments do not foreclose
      the Commission from taking any action with respect to the filing;
      and

          Mr.
            Kevin
            Woody

          Securities
            and Exchange Commission

          October
            16, 2007

          Page
            3

    (3)
      the
      Company may not assert staff comments as a defense in any proceeding initiated
      by the Commission or any person under the federal securities laws of the United
      States.

    If
      you
      have any questions or comments regarding the foregoing, or have additional
      questions or comments, please contact the undersigned at
      212-634-2411.

    Very
      truly yours,

    /s/
      Steven R. Mumma

    Steven
      R.
      Mumma

    Co-Chief
      Executive Officer and

    Chief
      Financial Officer

            cc:

              Mr.
                Howard Efron

    Mr.
      Mark
      Rakip

    Mr.
      David
      A. Akre

    Mr.
      A.
      Bradley Howe