Profile: Chimera Investment Corp (CIM)
26 Jun 2019
Chimera Investment Corporation, incorporated on June 1, 2007, is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities. The Company's objective is to provide risk-adjusted returns to its investors over the long-term, primarily through dividends and secondarily through capital appreciation. The Company focuses to achieve this objective by investing in an investment portfolio of RMBS, agency CMBS, residential mortgage loans, commercial mortgage loans, real estate-related securities and various other asset classes. The MBS and real estate-related securities the Company purchases include investment-grade and non-investment grade classes, including the BB-rated, B-rated and non-rated classes.
The Company focuses on its investment activities primarily on acquiring non-agency and agency RMBS and CMBS, or MBS and on acquiring residential mortgage loans. The Company invests in mortgage pass-through certificates issued or guaranteed by The Government National Mortgage Association (Ginnie Mae), Federal National Mortgage Association (Fannie Mae) or The Federal Home Loan Mortgage Corporation (Freddie Mac). It also invests in investment grade and non-investment grade RMBS. The Company may invest in collateralized mortgage obligations (CMOs), issued by the Agencies. CMOs consist of various classes of securities, with each class bearing different stated maturity dates. The Company may also invest in net interest margin securities (NIMs). The Company's subsidiaries include Chimera RMBS Whole Pool LLC, Chimera RMBS LLC, Chimera Special Holdings LLC, CIM Trading Company LLC, Chimera Funding TRS LLC, Chimera CMBS Whole Pool LLC, Chimera RMBS Securities LLC, Chimera Insurance Company, LLC and Chimera RR Holdings LLC.
The Company has invested in and may invest in residential mortgage loans (mortgage loans secured by residential real property) primarily through direct and secondary market purchases from banks, non-bank financial institutions and the agencies. The agency CMBS it acquires are Ginnie Mae Construction Loan Certificates (CLCs) and the resulting project loan certificates (PLCs). The Company may invest in commercial mortgage loans consisting of first or second lien loans secured by multifamily properties, which are residential rental properties, or by mixed residential or other commercial properties, retail properties, office properties or industrial properties. It may invest in securities issued in various collateralized debt obligation, (CDO), offerings to gain exposure to bank loans, corporate bonds, asset-backed securities (ABS), mortgages, RMBS, CMBS and other instruments. It may also invest in CMBS, which are secured by, or evidence ownership interests in, a single commercial mortgage loan or a pool of mortgage loans secured by commercial properties.
Chimera Investment Corp
520 Madison Ave Fl 32
NEW YORK NY 10022-4213