Portfolio Manager’s First Quarter Less Painful Than Q1 2010

The Sacramento Bee says Origen Financial, Inc. (Pink Sheets:ORGN) reported a net loss of $2.8 million for the first quarter of this year, at 11 cents a share, versus a net loss in Q1 2010 of $5.2 million, or 20 cents a share.  The company, a real estate investment trust (REIT) that manages manufactured housing loan portfolios, has declared a dividend of 17 cents per share approximating $4.4 million, which includes proceeds from the sale of a manufactured housing bond for $3 million.  Chief Executive Officer Ronald A. Klein said, “Our cash flow remains strong and we took advantage of an opportunity to sell one of our bonds as the market price for the bond increased above our targeted return level.”

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