Edgar Filing: NEW YORK MORTGAGE TRUST INC

Ownership Submission

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Â JMP ASSET MANAGEMENT LLC

2. Date of Event Requiring Statement (Month/Day/Year)
01/18/2008

3. Issuer Name and Ticker or Trading Symbol
NEW YORK MORTGAGE TRUST INC [NMTR.OB]

(Last)

(First)

(Middle)

600 MONTGOMERY STREET,Â SUITE 1100

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

SAN FRANCISCO,Â CAÂ 94111

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	21,903	I	By JMP Realty Trust Inc. ⁽¹⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Series A Cumulative Redeemable Convertible Preferred Stock ⁽²⁾	Â ⁽³⁾	Â ⁽⁴⁾	Common Stock	5,000,000 ⁽⁵⁾	$ 4	I	By JMP Realty Trust, Inc. ⁽¹⁾
Series A Cumulative Redeemable Convertible Preferred Stock ⁽²⁾	Â ⁽³⁾	Â ⁽⁴⁾	Common Stock	1,811,000 ⁽⁶⁾	$ 4	I	By Harvest Opportunity Partners II, L.P. ⁽¹⁾
Series A Cumulative Redeemable Convertible Preferred Stock ⁽²⁾	Â ⁽³⁾	Â ⁽⁴⁾	Common Stock	314,000 ⁽⁷⁾	$ 4	I	By Harvest Opportunity Partners Offshore Fund, Ltd. ⁽¹⁾
Series A Cumulative Redeemable Convertible Preferred Stock ⁽²⁾	Â ⁽³⁾	Â ⁽⁴⁾	Common Stock	288,000 ⁽⁸⁾	$ 4	I	Harvest Small Cap Partners, L.P. ⁽¹⁾
Series A Cumulative Redeemable Convertible Preferred Stock ⁽²⁾	Â ⁽³⁾	Â ⁽⁴⁾	Common Stock	87,000 ⁽⁹⁾	$ 4	I	Harvest Small Cap Offshore, Ltd. ⁽¹⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
JMP ASSET MANAGEMENT LLC 600 MONTGOMERY STREET SUITE 1100 SAN FRANCISCO,Â CAÂ 94111	Â	Â X	Â	Â

Signatures

/s/ Janet L. Tarkoff		01/28/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The reporting person has investment control over these securities as investment advisor to this entity, but disclaims beneficial ownership of these securities and this report shall not be an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.
(2)	The Series A Preferred Stock has a conversion rate of five shares of common stock for every share of Series A Preferred Stock.
(3)	The Series A Cumulative Redeemable Convertible Preferred Stock (the "Series A Preferred Stock") is convertible: (a) at the holder's election, any time prior to redemption or mandatory conversion by the Company, or (b) at the Company's option, any time, subject to the satisfaction of certain mandatory conversion conditions set forth in the Articles Supplementary for the Series A Preferred Stock.
(4)	The Series A Preferred Stock matures on December 31, 2010, but may be redeemed earlier in the event of a change of control.
(5)	Pursuant to that certain Stock Purchase Agreement, by and among the issuer and the investors listed on Schedule I thereto, dated as of November 30, 2007, as amended (the "Purchase Agreement"), JMP Realty Trust, Inc. has an option, exercisable not later than April 4, 2008, to purchase up to an additional 500,000 shares of Series A Preferred Stock, which will be immediately convertible, at the holder's election, into 2,500,000 shares of common stock.
(6)	Pursuant to the Purchase Agreement, Harvest Opportunity Partners II, L.P. has an option, exercisable not later than April 4, 2008, to purchase up to an additional 181,100 shares of Series A Preferred Stock, which will be immediately convertible, at the holder's election, into 905,500 shares of common stock.
(7)	Pursuant to the Purchase Agreement, Harvest Opportunity Partners Offshore Fund, Ltd. has an option, exercisable not later than April 4, 2008, to purchase up to an additional 31,400 shares of Series A Preferred Stock, which will be immediately convertible, at the holder's election, into 157,000 shares of common stock.
(8)	Pursuant to the Purchase Agreement, Harvest Small Cap Partners, L.P. has an option, exercisable not later than April 4, 2008, to purchase up to an additional 28,800 shares of Series A Preferred Stock, which will be immediately convertible, at the holder's election, into 144,000 shares of common stock.
(9)	Pursuant to the Purchase Agreement, Harvest Small Cap Offshore, Ltd. has an option, exercisable not later than April 4, 2008, to purchase up to an additional 8,700 shares of Series A Preferred Stock, which will be immediately convertible, at the holder's election, into 43,500 shares of common stock.

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