Invesco Mortgage Capital Inc
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Invesco Mortgage Capital Inc (NYSE:IVR) is a real estate investment trust formed to acquire, finance and manage residential and commercial mortgage-backed securities and mortgage loans.
Invesco Mortgage Capital completed its Initial Public Offering or IPO June 26, 2009. Richard J. King, CFA is President and Chief Executive Officer.
Invesco Mortgage is externally managed by Invesco Advisers Inc, a subsidiary of Invesco Ltd (NYSE:IVZ).
The Portfolio of Invesco Mortgage Capital Inc Includes:
Agency RMBS (Residential mortgage backed securities) guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae
Other residential backed mortgage securities, non-agency RMBS
Commercial Backed Mortgage Securities (CMBS)
Residential and commercial mortgage loans
These are financed by the federal government's Term Asset-Backed Securities Loan Facility (TALF) and the U.S. Treasury's Public-Private Investment Program, or PPIP. That's $1 trillion designed to remove toxic assets from the Treasury's balance sheets. But Invesco plans to apply strict credit underwriting.
Invesco Mortgage Capital Inc will profit to the extent the mortgage securities they acquire return more than their cost to the company.
Next: PennyMac Mortgage Investment Trust -- buying distressed mortgages cheap for profitable resale
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