Review Mortgage Lenders

Annaly Mortgage

Annaly Capital Management CEO

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Is Annaly Capital Management a Buy?

A mortgage REIT, on the other hand, buys and sells pieces of paper. Generally that means collections of mortgages put into a mortgage bond. The company earns the difference between its cost of capital (the debt and equity it sells) and the interest rate on the mortgage securities it owns. While there are technically physical assets behind the mortgages involved, getting an individual property vacated and sold to salvage some value is not an easy task. And, if the financial markets go into a tailspin, the value of the mortgage securities in the portfolio could plummet and/or the bonds could become illiquid. That would leave Annaly and its shareholders stuck waiting for better days or, if things got really bad, it could be forced to sell assets at fire-sale prices. 

These are worst-case scenarios, of course, but the Great Recession proves that they sometimes come to pass. And that downturn included the bankruptcy of a few once-sizable mortgage REITs. 

2.

The auditors of Annaly mortgage discovered that a lot of fictitious employees were on the payroll system and w?

The auditors of Annaly mortgage discovered that a lot of fictitious employees were on the payroll system and were being paid salaries. Neither the CFO nor the payroll manager was aware of the fraud.


To launder money from the company. Someone in the company added the fictitious employees in order to get money for themselves, possibly the bookkeeper.

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