Dynex Capital, Inc., a mortgage real estate investment trust, invests in mortgage-backed securities (MBS) on a leveraged basis in the United States. It invests in residential MBS, commercial MBS (CMBS), and CMBS interest-only securities guaranteed by agency of the U.S. government or a U.S. government-sponsored entity. The company has qualified as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Dynex Capital, Inc. was founded in 1987 and is headquartered in Glen Allen, Virginia.