Anworth Mortgage Asset Corporation

Anworth Mortgage Asset Corporation
Public company
Traded as NYSE: ANH
Russell 2000 Component
Industry Real estate investment trust
Founded October 20, 1997 (October 20, 1997)
Founder Joseph Lloyd McAdams
Headquarters Santa Monica, California
Key people
 Joseph Lloyd McAdams, Chairman & CEO
CHARLES J. SIEGEL, CFO
JOSEPH E. MCADAMS, CIO
Revenue Increase $0.142 billion (2017)
Increase $0.054 billion (2017)
Total assets Increase $5.765 billion (2017)
Total equity Increase $0.677 billion (2017)
Website www.anworth.com
Footnotes / references
[1]

Anworth Mortgage Asset Corporation is a mortgage real estate investment trust.

The company borrows money, primarily via short term repurchase agreements, and reinvests the proceeds in asset-backed securities. As of December 31, 2017, 74.2% of the company's assets were mortgage-backed securities issued by either Fannie Mae or Freddie Mac. The company generates profits from the net interest spread between the interest earned from its assets and its borrowing costs, which is amplified from the use of leverage. As of December 31, 2017, the company had a debt-to-equity ratio of 5.94. As of December 31, 2017, the weighted average days to maturity of its repurchase agreements was 31 days. The company is externally managed by Anworth Management, LLC, which is owned by executives of the company; the company pays an annual fee of 1.20% of equity for management services.[1]

History

On March 17, 1998, the company commenced operations and became a public company via an initial public offering.[1][2]

In August 2007, the company's subsidiary, Belvedere Trust Mortgage Corporation, received a notice of default.[3]

Effective December 31, 2015, Thad M. Brown retired from his position as chief financial officer and was replaced by Charles J. Siegel.[4]

References

  1. 1 2 3 "Anworth Mortgage Asset Corporation Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ "Weekly Schedule of Offerings Of Equity and Convertible Debt". The New York Times. March 9, 1998.
  3. ↑ "Anworth Mortgage Asset Corporation Announces Company Updates" (Press release). Business Wire. August 9, 2007.
  4. ↑ "Anworth Mortgage names newest member of its top exec team". American City Business Journals. December 31, 2015.
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