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References to the "Company" refer to Capital Alliance Income Trust Ltd., A
Real Estate Investment Trust (the "Trust"), and WrenCap Funding Corporation
("WCFC") and WCFC's predecessor Capital Alliance Funding Corporation ("CAFC"),
collectively. The Trust was incorporated in Delaware on December 12, 1995. On
April 15, 1997 the Trust formed, a taxable REIT subsidiary, Capital Alliance
Funding Corporation ("CAFC"). On April 20, 2007, the subsidiary's name was
changed to WrenCap Funding Corporation. Both the Trust and WCFC are incorporated
in Delaware.
The Trust is a specialty mortgage finance company organized as a Real
Estate Investment Trust ("REIT"). Historically the Trust has emphasized the
Mortgage Investments Business and CAFC has emphasized the Mortgage Banking
Business. On March 31, 2006 CAFC' suspended the origination of new investment
mortgages for the Trust and the origination of new mortgages for subsequent sale
into the secondary mortgage market.
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