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Exhibit 21.01
List of Subsidiaries of the Registrant
1. FBR TRS Holdings, Inc.—Virginia
2. FBR Capital Markets Corporation—Virginia
3. FBR Asset Management Holdings, Inc.—Virginia
4. FBR Capital Markets Holdings, Inc.—Delaware
5. Friedman, Billings, Ramsey & Co., Inc.—Delaware
6. Friedman, Billings, Ramsey International, Ltd.—England
7. FBR Investment Services, Inc.—Delaware
8. FBR Investment Management, Inc.—Delaware
9. FBR Fund Advisers, Inc.—Delaware
10. FBR Securitization, Inc.—Delaware
11. MHC I, Inc.—Delaware
12. FNLC Financial Services, Inc.—Delaware
13. First NLC Securitization, Inc.—Delaware
14. First NLC Financial Services, Inc.—Delaware
15. First NLC Financial Services, LLC—Florida
16. First NLC, Inc.—Minnesota
17. NLC, Inc.—Tennessee
18. FNLC Trust Investments, LLC—Delaware
19. FBR Trust Investments, LLC—Delaware
20. FBR NIM Investments, LLC—Delaware
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