Bimini Capital Management Company Description
Bimini Capital Management (formerly Opteum) invests in residential mortgage-backed securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae. The real estate investment trust (REIT) manages an approximately $3 billion portfolio of mortgage-related securities, most of them backed by adjustable-rate mortgages. Bimini Capital also invests in fixed-rate, hybrid adjustable-rate, and balloon maturity mortgage-backed securities. The company sold its residential mortgage origination business, which consisted of about 25 offices in five states, to Prospect Mortgage in 2007. It has also ceased conduit and wholesale lending.
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The Company Description provides a historical perspective of Bimini Capital Management's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Bimini Capital Management's evolution in the marketplace.
