Profile: AG Mortgage Investment Trust Inc (MITT.K)
12 Feb 2016
AG Mortgage Investment Trust, Inc., incorporated on March 1, 2011, is a real estate investment trust (REIT). The Company is focused on investing in, acquiring and managing a diversified portfolio of residential mortgage-backed securities (RMBS) issued or guaranteed by a government-sponsored enterprise, such as The Federal National Mortgage Association (Fannie Mae) or The Federal Home Loan Mortgage Corporation (Freddie Mac), or any agency of the United States Government, such as The Government National Mortgage Association (Ginnie Mae) (collectively Agency RMBS), and other real estate-related securities and financial assets, including Non-Agency RMBS, asset backed securities (ABS), commercial mortgage-backed securities (CMBS) and loans.
The majority of the Company's portfolio consists of mortgage-backed securities, specifically RMBS. The Company's Agency RMBS investments include mortgage pass-through securities, collateralized mortgage obligations (CMOs), and certain Agency RMBS whose underlying collateral is not identified until shortly before the purchase or sale settlement date (TBAs). Its portfolio also includes Non-Agency RMBS that are not issued or guaranteed by a United States government agency or a United States government-sponsored entity. Its Non-Agency RMBS investments may include fixed-and floating-rate securities, including investment grade and non-investment grade. The Company has also invested in commercial and residential mortgage loans, including non-performing and re-performing residential mortgage loans, as well as excess mortgage servicing rights (MSRs). Non-Agency RMBS, ABS, CMBS, MSRs and residential and commercial loans are referred to as the Company's credit portfolio, and residential and commercial mortgage loans are collectively referred to as loans. As of December 31, 2014, the fair value of the Company's investment portfolio on a non-GAAP basis, inclusive of TBAs, consisted of 55.4% Agency RMBS, 34.3% Non-Agency RMBS, 1.8% ABS, 3.4% CMBS, 3.1% residential mortgage loans, 2% commercial loans and 0% excess mortgage servicing rights.
AG Mortgage Investment Trust Inc
245 Park Ave Fl 26
NEW YORK NY 10167-0002