EXHIBIT 99.1


        MORTGAGEIT HOLDINGS, INC. REPORTS PRELIMINARY OPERATING DATA FOR
                        FOURTH QUARTER AND YEAR-END 2004

 -COMPANY TO RESCHEDULE EARNINGS RELEASE FOR THE PERIOD ENDED DECEMBER 31, 2004-

           - Q4 FUNDING VOLUME OF $4.4 BILLION HIGHER THAN EXPECTED -

        - REACHES GOAL OF $2.4 BILLION REIT PORTFOLIO BY YEAR-END 2004 -

        - FIRST FULL RUN-RATE DIVIDEND EXPECTED TO BE $0.48 FOR Q1 2005 -

New York, N.Y., February 14, 2005--MortgageIT Holdings, Inc. (NYSE: MHL), a
residential mortgage Company organized as a real estate investment trust (REIT),
today reported preliminary operating data for the fourth quarter and year ended
December 31, 2004. The Company also stated that it will not release its
financial results on February 14, 2005 as previously scheduled, in order to
provide additional time for the Company, its external auditors, and the audit
committee of the board of directors to review financial disclosure matters, and
whether the Company's hedging activities comply with SFAS 133, "Accounting for
Derivative Instruments and Hedging Activities." The Company does not expect that
the outcome of that review will have a material effect on the Company's prior or
projected dividend payments. The Company expects to announce its financial
results and conduct its conference call with the investment community prior to
the anticipated timely filing of its 10-K.

PRELIMINARY OPERATING RESULTS AND OUTLOOK:



Loan Funding Information                 For the three months ended Dec. 31,        For the year ended Dec. 31,
                                              2004                2003                2004              2003

Loan Fundings                             $4.4 billion        $2.2 billion       $13.0 billion      $11.9 billion
 % Refinance                                   51%                60%                 51%                72%
 % Purchase Money                              49%                40%                 49%                28%
 % ARM loans                                   59%                23%                 47%                22%

Loans Sold and Brokered to Third
Parties                                   $2.4 billion        $2.0 billion        $9.7 billion      $11.7 billion


     o    Fourth quarter loan funding volume was $4.4 billion, outperforming the
          high end of the Company's fourth quarter guidance of $3.5 to $4.0
          billion in loan funding volume. Full-year volume topped $13 billion, a
          record for the Company. Included in the fourth quarter volume is a
          Company-record $2.2 billion in purchase (non-refinance) mortgage
          funding volume and a Company-record $2.6 billion in adjustable rate
          mortgage (ARM) funding volume.

     o    As of December 31, 2004, the Company had transferred $2.4 billion of
          loans from the TRS into its investment portfolio, thereby fulfilling
          its year-end portfolio size target, and had designated for transfer an
          additional $269 million of funded loans.

     o    The Company expects loan funding volume of $3.5 billion to $4.0
          billion in the first quarter of 2005, representing an increase of 61%
          to 84% over the first quarter of 2004.

     o    The Company expects first quarter sub-prime loan funding volume of
          approximately $500 million. The Company also expects to add
          approximately 60 wholesale sub-prime staff in the first quarter, and
          to open several additional wholesale sub-prime branch offices in
          locations across the United States.

     o    The Company expects to increase its fully leveraged, self-originated
          investment loan portfolio to approximately $3.0 billion in the first
          quarter of 2005.


                                                                    EXHIBIT 99.1

     o    Based on its current portfolio and balance sheet, the Company expects
          to declare its first full run-rate dividend of $0.48 in the first
          quarter.

Doug Naidus, Chairman and Chief Executive Officer, commented, "MortgageIT
Holdings closed 2004 by exceeding the high-end of our loan funding guidance by
over $300 million, paying our first dividend, and reaching our goal of building
a fully self-originated $2.4 billion REIT portfolio by year's-end. We expect
funding volumes at our lending subsidiary to continue to be solid, especially
with the ramp-up of our new subprime origination business, which is performing
well."

ABOUT MORTGAGEIT HOLDINGS, INC.

MortgageIT Holdings, Inc. (NYSE: MHL) was formed to act as the holding Company
of MortgageIT, Inc. (MortgageIT), its wholly owned residential mortgage lending
subsidiary. MortgageIT is a full-service residential mortgage banking Company
that is licensed to originate loans throughout the United States. MortgageIT
originates single-family residential mortgage loans of all types, with
particular focus on prime adjustable-rate (ARM) and fixed-rate, first-lien
residential mortgage loans. MortgageIT Holdings is organized and conducts its
operations to qualify as a real estate investment trust (REIT) for federal
income tax purposes. MortgageIT is organized and operates as MortgageIT
Holdings' taxable REIT subsidiary.

Certain items in this press release may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995,
including statements relating to our ability to fund a fully-leveraged,
self-originated loan portfolio, our anticipated loan funding volume and our
ability to pay dividends. These statements are based on management's current
expectations and beliefs and are subject to a number of trends and uncertainties
that could cause actual results to differ materially from those described in the
forward-looking statements. MortgageIT Holdings can give no assurance that its
expectations will be attained. Factors that could cause actual results to differ
materially from MortgageIT Holdings' expectations include, but are not limited
to, MortgageIT's continued ability to originate new loans, including loans that
we deem suitable for our securitization portfolio; changes in the capital
markets, including changes in interest rates and/or credit spreads; and other
risks detailed in MortgageIT Holdings' Registration Statement on Form S-11 that
was declared effective by the Securities and Exchange Commission (SEC) on July
29, 2004 and from time to time in MortgageIT Holdings' SEC Reports. Such
forward-looking statements speak only as of the date of this press release.
MortgageIT Holdings expressly disclaims any obligation to release publicly any
updates or revisions to any forward-looking statements contained herein to
reflect any change in the Company's expectations with regard thereto or change
in events, conditions or circumstances on which any statement is based.

FOR ADDITIONAL INFORMATION CONTACT:

Investors
Sean McGrath
MortgageIT Holdings, Inc.
646-346-8700

Media
Ted Swiecichowski
MortgageIT Holdings, Inc.
212-651-7653

Joe LoBello
Brainerd Communicators, Inc.
212-986-6667