Arlington Asset Investment
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Enjoy Your Good Fortune
|Traded as||NYSE: AI|
|Headquarters||Arlington, Virginia, United States|
|Key people||Eric Billings, Chairman & CEO|
|Products||Real Estate Investment Trust|
|Revenue||US $1.01 Billion (2006)|
|Net income||US $-0.67 Billion (2006)|
Arlington Asset Investment Corp formerly known as Friedman, Billings, Ramsey Group Inc., is a real estate investment trust headquartered in Arlington, Virginia. It was founded by Emmanuel Joseph Friedman, Eric Francis Billings and William Russell Ramsey in 1989 and had over $1 billion in revenues in 2006.
The company announced severe losses related to its underperforming mortgage platform and widespread problems in subprime mortgage lending, which led to a sale of ownership in FBR's subprime subsidiary First NLC Financial Services, Inc in the summer of 2007.
The company spun off its FBR Capital Markets division through an IPO named FBR Capital Markets Corp. which has experienced serious declines in its stock price. Two of the three founders, W. Russell Ramsey and Emmanuel J. Friedman, have left the company.
FBR Capital Markets
FBR Capital Markets Corporation, (NASDAQ: FBRC) was formed through an equity spin-off from FBR Group in the spring of 2007. The IPO was priced at $72 per share but the stock had traded down considerably at a low of $8.40 as a result of the 2008 and 2009 financial crisis. The stock has since rebounded to $25.13 as of November 2014.
- Alejandro, Lazo. "Spinoff From FBR Gains 6% In Debut". The Washington Post. Retrieved 2014-11-16.
- https://www.google.com/finance?q=NASDAQ:FBRC. Missing or empty