Hanover Capital Mortgage Holdings Inc. said it has renewed its $150 million credit facility with Morgan Stanley Dean Witter. The credit line will help Hanover, a real estate investment trust, to buy loans this quarter.

The REIT is in the business of buying single-family mortgages in bulk but did not buy any during last year's tumultuous fourth quarter, because it was focused on reducing its leverage and increasing its liquidity. The company was founded by four former Citibank mortgage finance specialists who advised the Resolution Trust Corp. and the Federal Deposit Insurance Corp. on loan sales in the late 1980s.

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