Profile: Chimera Investment Corp (CIM.N)
24 Apr 2015
Chimera Investment Corporation, incorporated on June 1, 2007, is a specialty finance company. The Company, through its subsidiaries, invests in residential mortgage-backed securities (RMBS), residential mortgage loans, commercial mortgage loans, real estate-related securities and various other asset classes. The Company’s objective is to provide attractive risk-adjusted returns to investors over the long-term, primarily through dividends and secondarily through capital appreciation. The Company is externally managed by Fixed Income Discount Advisory Company.
Residential Mortgage-Backed Securities
The Company invests in investment grade and non-investment grade RMBS. The Company evaluates credit characteristics of these types of securities, including loan balance distribution, geographic concentration, property type, occupancy, periodic and lifetime caps, weighted-average loan-to-value and weighted-average score. The Company intends to acquire CMBS from private originators of, or investors in, mortgage loans, including savings and loan associations, mortgage bankers, commercial banks, finance companies, investment banks and other entities.
Residential Mortgage Loans
The Company has invested in residential mortgage loans (mortgage loans secured by residential real property) primarily through direct purchases from selected mortgage originators. The Company intends to enter into additional mortgage loan purchase agreements with a number of primary mortgage loan originators, including mortgage bankers, commercial banks, savings and loan associations, home builders, credit unions and mortgage conduits.
Commercial Mortgage Loans and Other Asset-Backed Securities
The Company intends to invest in commercial mortgage loans. It invests in first or second lien loans secured by multifamily properties, which are residential rental properties consisting of five or more dwelling units, or by mixed residential or other commercial properties, retail properties, office properties or industrial properties. The Company intends to invest in securities issued in offerings to gain exposure to bank loans, corporate bonds, ABS, mortgages, RMBS, CMBS, and other instruments.
Chimera Investment Corp
1211 Avenue of the Americas Ste
NEW YORK NY 10036-8705