Potential Jumbo Player Dismisses Accounting Firm

Chimera Investment Corp., a publicly traded REIT that invests in MBS, said in a new SEC filing that it has fired its accounting firm, Deloitte Touche LLP.

The dismissal of the firm will become effective once Deloitte completes work on Chimera’s annual report for the year ending Dec. 31.

In the filing, the REIT noted that Deloitte’s “report on the Company’s consolidated financial statements for the fiscal year ended December 31, 2010 did not contain any adverse opinion or disclaimer of opinion, nor was such report qualified or modified as to uncertainty, audit scope or accounting principles.”

The New York-based Chimera hired Ernest Young to replace Deloitte. 

Chimera is one of two dozen companies that has contemplated entering the jumbo MBS space. Late Friday its shares were trading at $2.96, down slightly on the day. Its 52-week high is $4.31.

Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_560/jumbo-player-dismisses-accounting-firm-1029403-1.html

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