Arlington Asset Investment
| Type | Public (NYSE: AI) |
|---|---|
| Industry | Investment managemnet |
| Founded | 1989 |
| 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) |
| Employees | 579 (2009) |
| Website | www.arlingtonasset.com |
Arlington Asset Investment Corp formerly known as Friedman, Billings, Ramsey Group Inc., (NYSE: AI), is a real estate investment trust headquartered in Arlington, Virginia. It was founded in 1989 and had over $1 billion in revenues in 2006.
The company announced severe losses related to its under-performing mortgage platform and widespread problems in subprime mortgage lending which lead 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.
[edit] FBR Capital Markets
FBR Capital Markets Corporation, (NASDAQ: FBCM) was formed through an equity spin-off from FBR Group in the spring of 2007. The IPO was priced at $17 per share but the stock has traded down considerably as a result of the 2008 and 2009 financial crisis. The stock has since rebounded somewhat.
[edit] Sponsorship
Arlington Asset Investment sponsored the FBR Open PGA golf tournament held in Scottsdale, Arizona
