NEW YORK--(BUSINESS WIRE)--In light of recent market events, Chimera Investment Corporation announced a $150 million common stock buyback on March 13th and through March 17th Chimera has repurchased $22 million of its common stock. In addition, Officers and Directors have purchased shares.

The Covid-19 Virus has caused disruptions, but Chimera has the technology in place for all employees to work remotely with little or no change in normal working patterns. Federal Reserve actions have added liquidity to the system to ensure liquidity is available and they have started a purchase program to assist in price stability. Both of these measures are intended to insure the mortgage backed security market and related repurchase market maintain liquidity and order and that transactions between market participants continue to be efficient. Chimera has rolled the financing of approximately $7.3 billion of collateral since March 1, 2020, including approximately $2.1 billion of collateral this week.

Chimera’s observations regarding the financing environment for its residential mortgage assets are unaudited and have not been verified or reviewed by any third party, and this information is subject to change upon completion of the Company’s 2020 first quarter-end review and procedures (and such change could be material). The Company undertakes no obligation to update or revise the information set forth in this press release.

About Chimera Investment Corporation

We are a publicly traded REIT that is primarily engaged in the business of investing directly or indirectly through our subsidiaries, on a leveraged basis, in a diversified portfolio of real estate assets, including mortgage loans, Agency RMBS, Non-Agency RMBS, Agency CMBS, and other real estate assets.