Friedman Billings says sold securities at a loss of $57 mln

Aug 20 (Reuters) - Friedman, Billings, Ramsey Group Inc (FBR.N) said it sold about $4.95 billion of agency mortgage-backed securities at a loss of about $57 million.

The sale was to reduce leverage during the period of disruption and uncertainty in the asset-backed financing market, the Arlington, Virginia-based investment bank and brokerage said in a statement. (Reporting by Sweta Singh in Bangalore)