| ||Webcast |
Chimera Investment Corporation Q3 2011 Earnings Conference Call
Monday, November 21, 2011
10:00 AM ET
Chimera Investment Corporation invests in residential mortgage-backed securities (RMBS), residential mortgage loans, real estate-related securities and various other asset classes. Our objective is to provide attractive risk-adjusted returns to our investors over the long-term, primarily through dividends and secondarily through capital appreciation, by maintaining a business model that evolves with market opportunities. We have elected to be taxed as a REIT for federal income tax purposes. We are externally managed by Fixed Income Discount Advisory Company (FIDAC), a wholly-owned subsidiary of Annaly Capital Management, Inc.
Chimera manages residential mortgage credit risk. We strive to achieve our objective of providing attractive risk-adjusted returns to our investors over the long-term by investing in a diversified investment portfolio of RMBS, residential mortgage loans, real estate-related securities and various other asset classes.
In addition, we engage in transactions with residential mortgage originators in which we identify and re-underwrite residential mortgage loans owned by such entities, and rather than purchasing and securitizing such residential mortgage loans ourselves, we and the originator structure the securitization and purchase the resulting mezzanine and subordinate non-Agency RMBS. We have and may continue to engage in similar transactions with non-Agency RMBS in which we acquire originally AAA-rated non-Agency RMBS and re-securitize those securities.
We may use leverage to increase potential returns to our stockholders. Subject to maintaining our REIT qualification and availability of funding, we may use a number of sources to finance our investments, including repurchase agreements, warehouse facilities, securitizations, asset backed commercial paper and term financings.
Our strategy of balancing both interest rate and credit sensitive assets is designed to generate attractive, risk-adjusted returns in a variety of market conditions. Over time, we will modify our investment allocation strategy as market conditions change to seek to maximize the returns from our investment portfolio.
Chimera Investment Corporation, a real estate investment trust, invests in residential mortgage backed securities (RMBS), residential mortgage loans, real estate-related securities, asset backed securities (ABS), and various other asset classes in the United States. It invests in agency and non-agency RMBS; whole mortgage loans comprising prime, jumbo prime, and Alt-A mortgage loans; and ABS, including debt and equity tranches of CDOs, consumer and non-consumer ABS, and commercial mortgage backed securities. The company has elected to be treated as a REIT for federal income tax purposes and would not be subject to income tax, if it distributes at least 90% of its REIT taxable income to its share holders. Chimera Investment Corporation was incorporated in 2007 and is based in New York, New York.
WEB SITE: http://www.chimerareit.com/site/default.aspx