December 5, 2001


Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549

RE:     American Mortgage Acceptance Company
        File No. 333-74288

Dear Sir/Madam;

     Pursuant to Rule 473 of the Securities Act of 1933, the following delaying
amendment is hereby incorporated into American Mortgage Acceptance Company's
Form S-2 previously filed with the Securities and Exchange Commission:

     The registrant  hereby amends this  registration  statement on such date or
dates as may be necessary to delay its effective date until the registrant shall
file a further  amendment  which  specifically  states  that  this  registration
statement shall  thereafter  become effective in accordance with Section 8(a) of
the  Securities  Act of 1933 or until the  registration  statement  shall become
effective on such date as the Commission, acting  pursuant to said Section 8(a),
may determine.

Sincerely,

/s/ Jeffrey A. Potash
Jeffrey A. Potash, counsel
for and on behalf of American Mortgage Acceptance Company