From 24/7 Wall Street:

Investing in mortgages might not be as bad as many thought. Chimera Investment Corporation (CIM) has already raised more capital on more than one occasion since coming public in 2007 when the mortgage arena was in the process of going from weak to bottomless.

We were intrigued by its vulture investing intentions as it bought up distressed mortgages, particularly as it was tied to the very successful Annaly Capital Management, Inc. (NLY). Despite the notion that Chimera became a vulture too soon and well before any bottom could be found in sight, Chimera must be doing pretty well again. Ditto on Annaly.

This mortgage REIT status requires each to pay out 90% of its income and Chimera just hiked its dividend to…

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