EXHIBIT 99.1


                    AMERICA FIRST MORTGAGE INVESTMENTS, INC.
                 CHANGES NAME TO MFA MORTGAGE INVESTMENTS, INC.

         NEW YORK, Aug. 6 /PRNewswire-FirstCall/ -- America First Mortgage
Investments, Inc. (NYSE: MFA - NEWS; "MFA") today announced that effective
August 13, 2002 it will change its name to MFA Mortgage Investments, Inc. The
company will continue to trade on the New York Stock Exchange under the symbol
"MFA."

         Stewart Zimmerman, MFA's President and CEO, explained, "at the
beginning of 2002, MFA completed the acquisition of its external advisor,
America First Mortgage Advisory Corporation. Our new name better reflects the
independent status and identity of our company as a self-advised REIT."

         MFA's objective is to generate a high level of income while maintaining
asset quality and protecting principal invested in its portfolio of high-quality
adjustable-rate mortgage-backed securities and other assets. MFA finances the
acquisition of mortgage-backed securities primarily by borrowing at short-term
rates using reverse repurchase agreements. At June 30, 2002, the
assets-to-equity ratio was approximately 9.9x. Over time, MFA expects to
maintain this ratio within a range of 9x to 11x. At June 30, 2002, MFA had total
assets on its balance sheet of approximately $3.5 billion. As of that date,
approximately 99% of these assets consisted of mortgage-backed securities
guaranteed by an agency of the United States government such as Ginnie Mae,
Fannie Mae or Freddie Mac, other securities rated AAA by Standard & Poor's
Corporation and cash. MFA also owns interests in six multifamily apartments
properties consisting of a total of 1,473 rental units and certain corporate
debt securities.

         Information contained in this press release may constitute
"forward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended, relating to, without limitation, MFA's future performance, plans and
objectives, future operations and projections of revenue and other financial
items. These forward-looking statements can be identified by the use of
forward-looking terminology such as "may," "will," "should," "expect,"
"anticipate," "estimate" or "continue" or the negative thereof or other
variations thereon or comparable terminology. Several factors with respect to
such forward-looking statements, including certain risks and uncertainties,
could cause actual results to differ materially from those in such
forward-looking statements.

     CONTACT:  William Gorin
               (212) 935-8760
               http://www.mfa-reit.com
               -----------------------
SOURCE: AMERICA FIRST MORTGAGE INVESTMENTS, INC.