Chimera Investment Corp. reports news about its business as an internally managed real estate investment trust focused on residential real estate assets and mortgage credit. The company invests in, originates, and manages mortgage assets including residential mortgage loans, Non-Agency RMBS, Agency RMBS, Agency CMBS, mortgage servicing rights, RTLs, investor loans, junior liens, HELOCs, equity appreciation rights, and reverse mortgages.
Recurring updates cover quarterly and annual earnings, earnings available for distribution, book-value measures, portfolio positioning, and dividend actions for common and preferred stock. News also reflects Chimera's operating platforms, including Palisades Advisory Services for asset management and HomeXpress Mortgage Corp. for non-QM, QM, consumer, and investor mortgage loan originations.
Chimera Investment Corporation (NYSE:CIM) has announced the retirement of Matthew J. Lambiase as President and CEO, effective December 31, 2020. He will remain on the Board of Directors. Mohit Marria will succeed Lambiase as CEO starting January 1, 2021, and will also continue as Chief Investment Officer. Choudhary Yarlagadda has been appointed as President while retaining his role as Chief Operating Officer. The Board expresses confidence in the leadership transition, aiming to enhance shareholder value.
Chimera Investment Corporation (CIM) reported strong financial results for Q3 2020, achieving a GAAP net income of $349 million, or $1.32 per share, and core earnings of $80 million, translating to $0.33 per share. The firm focused on strengthening its balance sheet, which supported its performance and allowed for three securitizations and the acquisition of $640 million in loans. Their total assets decreased to $18.09 billion from $27.12 billion year-over-year, while total liabilities were $14.40 billion against $23.17 billion in 2019.
Chimera Investment Corporation (NYSE: CIM) is set to release its financial results for the third quarter ending September 30, 2020, on November 4, 2020, before 7:00 a.m. EST. A conference call and audio webcast will follow the release at 9:00 a.m. EST on the same day, allowing investors to discuss the results. Interested participants can join via the provided call-in numbers or access the webcast online. A replay of the call will be available for one week post-event.