The commercial mortgage REIT Criimi Mae Inc. reported an $11.7 million net loss for the fourth quarter of 1998 and said its accountants doubt it can survive.

The company filed for Chapter 11 bankruptcy protection in October. Shareholder equity decreased 37.65%, to about $308 million, from Sept. 30 to Dec. 31 because of turmoil in the securitization market, the company said.

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