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The Company owns and manages a portfolio of mortgage backed securities, including mortgage pass-through certificates, collateralized mortgage obligations and other securities representing interests in or obligations backed by pools of mortgage loans.
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AJL203PSU (65.57) Submitted: 2/24/07 1:43 PM : Start Price: $11.96 NLY Score: 46.65
The bulk of NLY's lending comes from US Gov't MBS (Freddie Mac, Fannie Mae and Ginnie Mae). Meaning that they are backed by the full faith and credit of the US. Annaly has a margin of safety built into its lending unlike NFI and NEW. I think Annaly has been unfairly lumped in with the rest of subprime garbage.
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