Orchid Island Capital, Inc. (NYSE MKT: ORC) is a specialty finance company that invests in residential mortgage-backed securities, or RMBS. The principal and interest payments of these RMBS are guaranteed by the Federal National Mortgage Association, or Fannie Mae, the Federal Home Loan Mortgage Corporation, or Freddie Mac, or the Government National Mortgage Association, or Ginnie Mae, and are backed primarily by single-family residential mortgage loans. We refer to these types of RMBS as Agency RMBS. Our investment strategy focuses on, and our portfolio consists of, two categories of Agency RMBS: (i) traditional pass-through Agency RMBS and (ii) structured Agency RMBS, such as collateralized mortgage obligations, or CMOs, interest only securities, or IOs, inverse interest only securities, or IIOs, and principal only securities, or POs, among other types of structured Agency RMBS.
We are externally managed and advised by Bimini Advisors, LLC, a wholly-owned subsidiary of Bimini Capital Management, Inc. Our manager is an investment advisor registered with the Securities and Exchange Commission. Bimini Capital Management, Inc. is an existing real estate investment trust, or REIT, whose common stock is traded on the OTC Bulletin Board under the symbol “BMNM”.