Friedman Billings Ramsey
Encyclopedia
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 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.
PGA golf tournament held in Scottsdale
, Arizona
Real estate investment trust
A real estate investment trust or REIT is a tax designation for a corporate entity investing in real estate. The purpose of this designation is to reduce or eliminate corporate tax. In return, REITs are required to distribute 90% of their taxable income into the hands of investors...
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
FBR Capital Markets
FBR & Co. provides investment banking, merger and acquisition advisory, institutional brokerage, and research services through its subsidiary FBR Capital Markets & Co. FBR focuses capital and financial expertise on the following industry sectors: consumer; diversified industrials; energy & natural...
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, 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.Sponsorship
Arlington Asset Investment sponsored the FBR OpenFBR Open
The Waste Management Phoenix Open is a nationally televised golf tournament, a part of the PGA Tour, held at the Tournament Players Club of Scottsdale, Arizona around the last weekend in January...
PGA golf tournament held in Scottsdale
Scottsdale, Arizona
Scottsdale is a city in the eastern part of Maricopa County, Arizona, United States, adjacent to Phoenix. According to the U.S. Census Bureau, as of 2010 the population of the city was 217,385...
, Arizona