Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 6, 2009 Municipal Mortgage & Equity, LLC (the "Company"), announced
the departure of Jenny Netzer, an Executive Vice President. Ms. Netzer has been
with the Company since it acquired the Lend Lease Housing and Community
Investing business in 2003. Ms. Netzer has led the Company's New Business
initiatives since 2005 and through the current economic downturn which has
caused the Company to substantially reduce its new business activities. At this
time the Company has no plan to fill the position.
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