WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15 (d) OF THE

                       SECURITIES AND EXCHANGE ACT OF 1934

          Date of Report (Date of Earliest Event Reported): May 7, 2003

                      American Mortgage Acceptance Company
               (Exact Name of Registrant as Specified in Charter)

                 (State or other Jurisdiction of Incorporation)

             1-23972                                     13-6972380
             -------                                     ----------
    (Commission File Number)                (IRS Employer Identification Number)

                     625 Madison Avenue, New York, NY 10022
                    (Address of Principal Executive Offices)

       Registrant's telephone number, including area code: (212) 421-5333

                                 Not Applicable
          (Former Name or Former Address, if Changed Since Last Report

Item 5. Other Events

        On May 7, 2003, American Mortgage Acceptance Company released a press
release announcing its financial results for its first quarter ended March 31,
2003. That press release is attached to this Current Report on Form 8-K as
Exhibit 99.1.

        This Current Report on Form 8-K and the exhibit hereto contain
forward-looking statements within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995 and also includes a
cautionary statement identifying important factors that could cause actual
results to differ materially from those anticipated.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits

(a).    Financial Statements

        Not Applicable

(b).    Pro Forma Financial Information

        Not Applicable

(c).    Exhibits

        99.1 Press release.


Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                            American Mortgage Acceptance Company

                                            BY:    /s/  Stuart J. Boesky
                                                   Stuart J. Boesky
        May 7, 2003