AGNC Investment Corp. Elects John Fisk and Frances Spark to its Board of Directors
September 11, 2019 at 04:05 pm EDT
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AGNC Investment Corp. announced that its Board of Directors has elected John D. Fisk and Frances R. Spark as members of the Board effective immediately. Mr. Fisk will serve as an independent director on the Compensation and Corporate Governance Committee, and Ms. Spark will serve as an independent director on the Audit Committee. AGNC's Board of Directors now consists of seven members, including six independent directors. Mr. Fisk retired in March 2019 as the Chief Executive Officer of the FHLBanks Office of Finance, a division of the Federal Home Loan Banks that issues and services all debt securities for the regional Federal Home Loan Banks. Mr. Fisk had previously served as the Deputy Managing Director and Chief Operating Officer of the FHLBanks Office of Finance from 2004 until 2007 when he became the Chief Executive Officer. Prior to joining the FHLBanks Office of Finance, Mr. Fisk was the Executive Vice President of Strategic Planning at MGIC Investment Corporation, one of the nation's largest providers of mortgage insurance, from 2002 until 2004. Ms. Spark is an experienced finance professional with broad expertise in mortgage finance and financial reporting for publicly-traded companies, including mortgage REITs. Ms. Spark served as the Chief Financial Officer and Treasurer for CYS Investments Inc., a publicly traded mortgage REIT that invested predominantly in agency mortgage-backed securities, from 2009 through 2016. Prior to the internalization of CYS's management in 2011, Ms. Spark also served as the Chief Financial Officer and Treasurer of CYS's external manager, Sharpridge Capital Management, LP.
AGNC Investment Corp. is an internally managed real estate investment trust (REIT). The Company provides private capital to the United States housing market, enhancing liquidity in the residential real estate mortgage markets and, in turn, facilitating home ownership in the United States. The Company invest primarily in Agency residential mortgage-backed securities (Agency RMBS) on a leveraged basis. These investments consist of residential mortgage pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by a United States Government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac, and together with Fannie Mae, the GSEs), or by a United States Government agency, such as the Government National Mortgage Association (Ginnie Mae). It may also invest in other assets related to the housing, mortgage or real estate markets.