Businessweek

Chimera Investment Corporation, a real estate investment trust (REIT), invests in residential mortgage backed securities (RMBS), residential mortgage loans, commercial mortgage loans, real estate-related securities, and various other asset classes. The company is externally managed by Fixed Income Discount Advisory Company. The company invests non-Agency RMBS, including investment-grade and non-investment grade classes, including the BB-rated, B-rated, non-rated classes, and agency RMBS; prime mortgage loans, jumbo prime mortgage loans, and alt-A mortgage loans; and asset backed securities, including commercial mortgage-backed securities, debt and equity tranches of collateralized debt obligations, and consumer and non-consumer ABS, including investment-grade and non-investment grade classes, including the BB-rated, B-rated and non-rated classes. Tax Status The company has elected to be treated as a REIT for federal income tax purposes and would not be subject to income tax, if it distributes at least 90% of its REIT taxable income to its share holders. History Chimera Investment Corporation was founded in 2007.