ARMOUR Residential REIT, Inc. (ARMOUR) is an externally managed real estate investment trust (REIT). The Company invests in residential mortgage backed securities. The Company's securities portfolio consists primarily of Agency Securities backed by fixed rate home loans. The Company is authorized to invest in Agency Securities and Non-Agency Securities backed by fixed rate, hybrid adjustable rate and adjustable rate home loans, as well as unsecured notes and bonds issued by United States Government-sponsored entity (GSE) Treasuries and money market instruments. The Company's investment securities are issued or guaranteed by the United States Government-sponsored entity, such as the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or guaranteed by the Government National Mortgage Administration (Ginnie Mae). The Company is externally managed by ARMOUR Capital Management LP (ACM), an investment advisor.