Chimera Appoints New Board Member Debra W. Still and Announces the Retirement of Paul Keenan from the Chimera Board of Direct...
March 06 2018 - 4:15PM
Business Wire
Chimera Investment Corporation, Inc. (NYSE:CIM) announced today
that Debra W. Still has been appointed to the Company’s Board of
Directors. Ms. Still has nearly four decades of experience in real
estate finance and since 2010 has served as President and Chief
Executive Officer of Pulte Financial Services, which includes the
mortgage lending, title and insurance operations of PulteGroup,
Inc. (NYSE:PHM), one of the nation’s largest homebuilders. In
addition to Pulte Financial Services, Ms. Still is also President
of Pulte Mortgage, LLC, a nationwide lender headquartered in
Englewood, Colorado. Ms. Still began her career with Pulte
Mortgage, LLC in 1983 where she served in various executive
capacities, including Chief Operating Officer, prior to being named
President in 2004.
Ms. Still served as the 2013 Chairman of the Mortgage Bankers
Association and is currently a member of the association’s Board of
Directors, a member of MBA’s Consumer Affairs Advisory Council and
Chairman of the MBA’s Opens Doors Foundation. Ms. Still was awarded
MBA’s Andrew D. Woodward Distinguished Service Award in 2014. As an
active MBA member for more than a decade, Ms. Still has also served
as Chair of MBA's Residential Board of Governors, Chairman of MBA’s
Diversity and Inclusion Committee, Chair of the GSE Affordable
Housing Subgroup, Chairman of the Council for Residential Mortgage
Servicing for the 21st Century and Chair of the MBA Forward Task
Force.
Ms. Still is a graduate of Ithaca College, Ithaca, N.Y., with a
Bachelor of Science degree and has completed graduate work in
Finance at George Washington University, Washington, D.C. In 2011
and 2013, Ms. Still was featured in “Influential Women of the
Housing Economy” by HousingWire Magazine and in 2011 was named one
of “The Top Ten Women in Mortgage and Housing” by The Five Star
Institute.
“We are pleased to welcome Debra to our Board,” said Paul
Donlin, Chairman of the Board of Directors. “Debra is a seasoned
executive with almost 40 years in the mortgage industry and we
believe Chimera will benefit greatly from her valuable insights and
perspective.”
Chimera also announced today that Paul Keenan will not stand for
re-election at the Company’s 2018 Annual Meeting of Shareholders.
Mr. Keenan is an independent director and has served on the board
of directors since November 2007. His term ends on the day of the
Company’s 2018 Annual Meeting of Shareholders.
“I want to thank Paul for his many years of service. He has
provided valuable expertise, sound judgment and solid guidance,”
said Matthew Lambiase, Chief Executive Officer and President of
Chimera.
Other Information
Chimera Investment Corporation is a publicly traded real estate
investment trust, or REIT, that is primarily engaged in real estate
finance. We were incorporated in Maryland on June 01, 2007 and
commenced operations on November 21, 2007. We invest, either
directly or indirectly through our subsidiaries, in RMBS,
residential mortgage loans, Agency CMBS, commercial mortgage loans,
real estate-related securities and various other asset classes. We
have elected and believe that we are organized and have operated in
a manner that enables us to be taxed as a REIT under the Internal
Revenue Code of 1986, as amended, or the Code.
Please visit www.chimerareit.com and click on Investor Relations
for additional information about us.
Disclaimer
This press release includes “forward-looking statements” within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. Actual results
may differ from expectations, estimates and projections and,
consequently, readers should not rely on these forward-looking
statements as predictions of future events. Words such as “expect,”
“target,” “assume,” “estimate,” “project,” “budget,” “forecast,”
“anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,”
“believe,” “predicts,” “potential,” “continue,” and similar
expressions are intended to identify such forward-looking
statements. These forward-looking statements involve significant
risks and uncertainties that could cause actual results to differ
materially from expected results, including, among other things,
those described in our most recent Annual Report on Form 10-K, and
any subsequent Quarterly Reports on Form 10-Q, under the caption
“Risk Factors.” Factors that could cause actual results to differ
include, but are not limited to: the state of credit markets and
general economic conditions; changes in interest rates and the
market value of our assets; the rates of default or decreased
recovery on the mortgages underlying our target assets; the
occurrence, extent and timing of credit losses within our
portfolio; the credit risk in our underlying assets; declines in
home prices; our ability to establish, adjust and maintain
appropriate hedges for the risks in our portfolio; the availability
and cost of our target assets; our ability to borrow to finance our
assets and the associated costs; changes in the competitive
landscape within our industry; our ability to manage various
operational risks and costs associated with our business;
interruptions in or impairments to our communications and
information technology systems; our ability to acquire residential
mortgage loans and successfully securitize the residential mortgage
loans we acquire; our ability to oversee our third party
sub-servicers; the impact of any deficiencies in the servicing or
foreclosure practices of third parties and related delays in the
foreclosure process; our exposure to legal and regulatory claims;
legislative and regulatory actions affecting our business; the
impact of new or modified government mortgage refinance or
principal reduction programs; our ability to maintain our REIT
qualification; and limitations imposed on our business due to our
REIT status and our exempt status under the Investment Company Act
of 1940.
Readers are cautioned not to place undue reliance upon any
forward-looking statements, which speak only as of the date made.
Chimera does not undertake or accept any obligation to release
publicly any updates or revisions to any forward-looking statement
to reflect any change in its expectations or any change in events,
conditions or circumstances on which any such statement is based.
Additional information concerning these and other risk factors is
contained in Chimera’s most recent filings with the Securities and
Exchange Commission (SEC). All subsequent written and oral
forward-looking statements concerning Chimera or matters
attributable to Chimera or any person acting on its behalf are
expressly qualified in their entirety by the cautionary statements
above.
Readers are advised that the financial information in this press
release is based on company data available at the time of this
presentation and, in certain circumstances, may not have been
audited by the company’s independent auditors.
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Chimera Investment Corporation, Inc.Investor
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