Chimera Investment Corporation

Chimera Investment Corporation (NYSE: CIM) is an internally managed Real Estate Investment Trust (REIT), founded in 2007 and headquartered in New York City. Our business objective is to provide attractive risk-adjusted returns to our shareholders over the long-term, predominantly through dividends and preservation of capital. We seek to maintain a diversified investment portfolio focusing on investing in residential mortgage loans, Non-Agency and Agency residential mortgage backed securities (RMBS) and Agency commercial mortgage backed securities (CMBS).

Strategy

Our income is generated primarily by the difference, or net spread, between the income we earn on our assets and our financing and hedging costs. We are commonly referred to as a hybrid mortgage REIT because we invest in both Agency and non-Agency mortgage assets. This model provides flexibility in portfolio asset allocation and liability management. A significant part of our business and growth strategy is to engage in securitization transactions to finance the acquisition of residential mortgage loans. We borrow money, or use leverage, to enhance potential returns on our investment portfolio. We use several funding sources to finance our investments, including asset securitization, repurchase agreements (repo), warehouse lines, convertible debt, and equity capital.