CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
This prospectus, any applicable prospectus supplement and the documents incorporated by reference herein and therein contain or will contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act). Forward-looking statements are not historical in naturesubject to substantial risks and can be identified byuncertainties, many of which are difficult to predict and are generally beyond our control. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. When we use the words such as“believe,” “expect,” “anticipate,” “estimate,” “will,“plan,” “continue,” “intend,” “should,” “expect,“could,” “believe,“would,” “intend,“may,” “seek,” “plan” and similar expressions“potential” or theirthe negative forms,of these terms or by referencesother comparable terminology, we intend to strategy, plans or intentions.identify forward-looking statements. Forward-looking statements involve numerous risks and uncertainties. Our actual results may differ from our beliefs, expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Statements regarding the following subjects, among others, may be forward-looking:
our investment objectives and business strategy;
our ability to raise capital through the sale of our equity and debt securities and to invest the net proceeds of any such offering in the target assets, if any, identified at the time of the offering;
our ability to obtain future financing arrangements and refinance existing financing arrangements as they mature;
our expected leverage;
our expected investments;
investments and the timing thereof;
our ability to acquire servicing-related assets and mortgage and real estate-related securities;
estimates and statements relating to, and our ability to make, future distributions to holders of the securities;
our ability to compete in the marketplace;
market, industry and economic trends;
recent market developments and actions taken and to be taken by the U.S. Government, the U.S. Treasury and the Board of Governors of the Federal Reserve System, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Government National Mortgage Association and the SEC;
mortgage loan modification programs and future legislative actions;
our and our Sub-REIT’s ability to qualify and maintain our qualificationqualifications as a REITREITs under the Code and limitations on our business due to compliance with requirements for maintaining our qualificationsuch qualifications as a REITREITs under the Code;
our ability to maintain our exclusion from regulation as an investment company under the Investment Company Act;
projected capital and operating expenditures;
availability of qualified personnel; and
projected prepayment and/or default rates.