ARMOUR Residential REIT, Inc. Chooses TPG Software
HOUSTON, TX – March 31, 2011 – TPG Software, Inc., a leading provider of financial accounting software and services, today announced that ARMOUR Residential REIT, Inc. has selected TPG Software’s financial accounting software systems, Portfolio Genius and Derivative Genius.
“We were looking for a software solution with a strong accounting background that could handle the complexities of agency-guaranteed residential mortgage pass-through securities and grow with us as we expand our business”, said Mark Gruber, CFA, Head of Portfolio Management for ARMOUR Residential Management LLC, ARMOUR REIT’s external manager. “After a review of the systems available in the marketplace today, we found that TPG met all of our requirements.”
“We are very excited to add ARMOUR to our family of REIT clients and are confident our software solutions offer the functionalities for investment and derivative accounting, management and reporting that are critical to REITs and to ARMOUR," said Ursula H. Felmet, CEO/CFO of TPG Software Inc.
About ARMOUR Residential REIT, Inc.
ARMOUR is a Maryland corporation focused on investing in Agency residential mortgage-backed securities. ARMOUR's residential mortgage backed securities portfolio consists of hybrid adjustable-rate, adjustable-rate and fixed-rate residential mortgage-backed securities issued or guaranteed by the following U.S. Government-chartered entities: the Federal National Mortgage Association (more commonly known as Fannie Mae), the Federal Home Loan Mortgage Corporation (more commonly known as Freddie Mac) and the Government National Mortgage Administration, a U.S. Government corporation (more commonly known as Ginnie Mae).
ARMOUR is externally managed and advised by ARMOUR RESIDENTIAL MANAGEMENT LLC, an entity affiliated with its executive officers. For more information on ARMOUR Residential REIT, Inc., visit the Company's website at http://armourreit.com/.
About TPG Software, Inc.
TPG Softwareis a leading software solutions provider for institutional investors including banks, thrifts, credit unions, REITs and broker/dealers throughout the US, Canada, and Puerto Rico. For more information, visit TPG’s website at www.tpgsoftware.com.