ARMOUR Residential REIT, Inc. Announces Retirement of Jeffrey J. Zimmer as President, Vice Chair and Director
March 15, 2024 at 06:40 pm EDT
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ARMOUR Residential REIT, Inc. announced that Jeffrey J. Zimmer will retire as President, Vice Chair and director of the Company. Mr. Zimmer has agreed to serve as an ex-officio, non-voting special advisor to the Board of Directors of the Company. Mr. Zimmer will also continue serving as a Co-Managing Member of ARMOUR Capital Management LP, ARMOUR?s external manager (?ACM?), to advise on finance, lending and trading activities, including capital markets strategies, funding, repurchase lending and ARMOUR?s mortgage-backed securities (MBS) portfolio.
ARMOUR Residential REIT, Inc. is a real estate investment trust. The Company brings private capital into the mortgage markets to support home ownership for a broad and diverse spectrum of Americans. The Company seeks to create stockholder value through thoughtful investment and risk management of a leveraged and diversified portfolio of mortgage backed securities (MBS). It prioritizes maintaining common share dividends appropriate for the intermediate term rather than focusing on short-term market fluctuations. It invests in MBS, issued or guaranteed by a United States Government-sponsored entity (GSE), such as the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or a government agency such as Government National Mortgage Administration (Ginnie Mae) (collectively, Agency Securities). Its Agency Securities consist of fixed rate loans. The Company is managed by ARMOUR Capital Management LP, an investment advisor.