Dynex Capital Announces The Issuance Of $1.6 Billion Of Mortgage Backed Securities.GLEN ALLEN Glen Allen is the name of several places in the United States of America:
See: New York Stock Exchange : DX) announced today the issuance of $1.6 billion of bonds collateralized primarily by single-family ARM loans, manufactured housing Manufactured housing (also known as prefab housing) is a type of housing unit that is largely assembled in factories and then transported to sites of use. In the United States, the term "manufactured home" specifically refers to a house built entirely in a protected loans, and called ARM securities previously issued by the Company. The bonds were issued by Merit Securities Corporation, one of the Company's limited purpose financing subsidiaries. Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. , Inc. was the lead underwriter Lead underwriter The head of a syndicate of financial firms that are sponsoring an initial public offering of securities or a secondary offering of securities. Could also apply to bond issues. . Thomas H. Potts, President, stated, "This securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. represents the largest bond issuance in the history of the Company. It will be accounted for as a financing by the Company, and as such, the benefit derived will flow through net interest margin income over the life of the security. The securitization limits our credit risk on the collateral and provides long-term, non-recourse funding for the Company. The securitization will also positively impact the Company's mark-to-market on its investment portfolio. We are very pleased with the market acceptance of the bonds and, as production continues to increase in our direct lending areas, we expect to issue additional bonds in the future." Dynex Capital, Inc. is a self-managed real estate investment trust that originates, services, securitizes and invests primarily in residential mortgage loans and securities. The Company's strategy is to use its production operations to create investments for its portfolio, and, as a result, steadily increase its net interest margin income and earnings per share over time. Note: This document contains "forward-looking statements"(within the meaning of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995) that inherently involve risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward looking statements as a result of unforeseen external factors. As discussed in the Company's filings with the SEC, these factors may include, but are not limited to, changes in general economic conditions, fluctuations in interest rates, increases in costs and other general competitive factors.
CONTACT: Dynex Capital, Inc.
Kathy Fern, 804/217-5800
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