American Capital Agency Corp. Announces Director Changes
May 23, 2016 at 08:47 am EDT
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American Capital Agency Corp. (AGNC) announced that it has entered into a definitive transaction agreement to acquire American Capital Mortgage Management, LLC from American Capital Asset Management, LLC. In connection with the transaction, the company announced changes to the composition of its board of directors. Prior to the execution of the transaction agreement, Robert M. Couch, Randy E. Dobbs, John R. Erickson, Samuel A. Flax and Alvin N. Puryear resigned as directors of the company. Following the resignations, AGNC's board is comprised of Gary Kain, Morris A. Davis, Larry K. Harvey and Prue B. Larocca, with Ms. Larocca and Messrs. Davis and Harvey serving as independent directors. In addition, AGNC's board has elected Ms. Larocca as Chair of the board. It is anticipated that Messrs. Erickson and Flax will remain in their capacities as Executive Vice President and Chief Financial Officer and Executive Vice President and Secretary, respectively, of the Company through the closing date of the transaction.
AGNC Investment Corp. is an internally managed real estate investment trust (REIT). The Company provides private capital to the United States housing market, enhancing liquidity in the residential real estate mortgage markets and, in turn, facilitating home ownership in the United States. The Company invest primarily in Agency residential mortgage-backed securities (Agency RMBS) on a leveraged basis. These investments consist of residential mortgage pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by a United States Government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac, and together with Fannie Mae, the GSEs), or by a United States Government agency, such as the Government National Mortgage Association (Ginnie Mae). It may also invest in other assets related to the housing, mortgage or real estate markets.
AGNC INVESTMENT CORP. 
