the reit formerly known as friedman billings ramsey group . for the investment banking firm formerly known as friedman billings ramsey & co. see fbr capital markets . this article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . november 2014 learn how and when to remove this template message arlington asset investment enjoy your good fortune type public traded as nyse ai industry investment management founded 1989 headquarters arlington virginia united states key people eric billings executive chairman products real estate investment trust revenue us 154.6 million 2015 net income us 69.4 million 2015 number of employees 11 2015 website www.arlingtonasset.com arlington asset investment corp is a principal investment firm that acquires and holds a levered portfolio residential mortgage backed securities mbs consisting of agency mbs and private label mbs . agency mbs include residential mortgage pass through certificates for which the principal and interest payments are guaranteed by a u.s. government agency or government sponsored enterprise gse such as fannie mae and freddie mac . private label mbs or non agency mbs include residential mbs that are not guaranteed by a gse or the u.s. government . the company was formerly known as friedman billings ramsey group inc. fbr group . the company is headquartered in arlington virginia . it was founded in 1989 and had assets of over 4 billion as of december 31 2015 . arlington asset investment is an internally managed company and taxed as a c corporation for u.s. federal tax purposes whereas many of its peers are taxed as a real estate investment trust reit . contents 1 history 2 sponsorship 3 references 4 external links history edit friedman billings ramsey group inc. was founded in 1989 by emmanuel friedman eric billings and russ ramsey . the firm held its initial public offering in 1997 raising 206 million . 1 from its founding through 2008 fbr group was taxed as a real estate investment trust that operated in four business segments consisting of principal investing capital markets asset management and mortgage banking . the principal investing segment consisted primarily of investing in residential mbs on a leveraged basis . the capital markets segment consisted of investment banking services and institutional brokerage services . the asset management segment conducted through registered investment advisors provided clients with mutual fund services alternative asset management and private wealth advisory . the capital markets and asset management segments were conducted through fbr capital markets . the mortgage banking segment consisted of the origination and sale of non conforming including non prime residential mortgage loans conducted through its subsidiary first nlc financial services inc. mr. ramsey left the company in 2001 . following the early 2000s recession fbr group invested heavily in subprime mortgages and housing until the subprime mortgage crisis . 2 the company announced severe losses related to its underperforming mortgage origination 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 . in 2005 the sec began investigating fbr group for insider trading done in 2001 . the firm was charged with short selling compudyne a maker of security systems . in 2006 fbr paid 7.8 million to the sec and 4.5 million to compudyne to settle the charges but did not admit any wrongdoing . mr. friedman was personally fined 1.2 million and barred for two years from supervising a brokerage firm . mr. friedman left fbr group in 2005 during the investigation . 3 4 5 fbr capital markets nasdaq fbrc was formed through an equity spin off from fbr group in the spring of 2007 . 6 in 2009 fbr group changed its name to arlington asset investment corp. and fully divested its ownership of fbr capital markets . 7 starting in 2009 arlington asset investment revoked its status as a real estate investment trust and began being taxed as a c corporation for u.s. federal income tax purposes . the decision to elect to be taxed as a c corporation was driven primarily from the availability of net operating loss carryforwards and net capital loss carryforwards that allow the company to shield substantially all of its income from income taxes . in june 2014 eric billings stepped down as ceo and j. rock tonkel jr. was appointed ceo . mr. billings remains as executive chairman . mr. tonkel previously served as the company s president and chief operating officer . 2 sponsorship edit arlington asset investment sponsored the phoenix open pga golf tournament held in scottsdale arizona from 2004 until 2009 . 8 references edit heath thomas december 23 2008 . last of fbr s founders to retire as ceo . the washington post . retrieved august 5 2015 . a b bhattarai abha june 12 2014 . fbr co founder steps down as ceo . washington post . retrieved august 5 2015 . westbrook jesse ; schmidt robert january 16 2013 . fbr founder s fund profits from big government bemoaned by bacon . bloomberg . retrieved august 5 2015 . hilzenrath david s. ; hart kim december 21 2006 . fbr settles with sec over insider trading case . the washington post . retrieved august 5 2015 . o hara terence april 5 2005 . fbr s friedman quitting . the washington post . retrieved 5 august 2015 . alejandro lazo . spinoff from fbr gains 6 % in debut . the washington post . retrieved 2014 11 16 . ruiz switzky bryant june 10 2011 . fbr capital markets changes name again . washington business journal . retrieved august 5 2015 . waste management taking over fbr open sponsorship . phoenix business journal . december 9 2009 . retrieved august 5 2015 . external links edit official website retrieved from https en.wikipedia.org w index.php title arlington asset investment & oldid 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