Armour Residential REIT, Inc. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - May 2, 2012

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EXCEL - IDEA: XBRL DOCUMENT - Armour Residential REIT, Inc.Financial_Report.xls
XML - IDEA: XBRL DOCUMENT - Armour Residential REIT, Inc.R9.htm
EX-32.1 - EXHIBIT 32.2 - Armour Residential REIT, Inc.ex32-2.htm
EX-32.1 - EXHIBIT 32.1 - Armour Residential REIT, Inc.ex32-1.htm
EX-31.2 - EXHIBIT 31.2 - Armour Residential REIT, Inc.ex31-2.htm
EX-31.1 - EXHIBIT 31.1 - Armour Residential REIT, Inc.ex31-1.htm
10-Q - FORM 10-Q - Armour Residential REIT, Inc.arr_10q-033112.htm
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Note 13 - Related Party Transactions
 3 Months Ended
Mar. 31, 2012
Related Party Transactions Disclosure [Text Block]
Note 13 - Related Party Transactions

We are externally-managed by ARRM pursuant to our Management Agreement. All of our executive officers are also employees of ARRM. ARRM manages our day-to-day operations, subject to the direction and oversight of the Board. The Management Agreement expires on November 6, 2014, and is thereafter automatically renewed for an additional one-year term unless terminated under certain circumstances. ARRM must provide 180 days prior notice of any such termination.

Under the terms of the Management Agreement, ARRM is responsible for costs incident to the performance of its duties, such as compensation of its employees and various overhead expenses. ARRM is responsible for the following primary roles:

 
·
Advising us with respect to, arrange for and manage the acquisition, financing, management and disposition of, elements of our investment portfolio,
 
·
Evaluating the duration risk and prepayment risk within the investment portfolio and arranging borrowing and hedging strategies,
 
·
Coordinating capital raising activities,
 
·
Advising us on the formulation and implementation of operating strategies and policies, arranging for the acquisition of assets, monitoring the performance of those assets, arranging for various types of financing and hedging strategies and providing administrative and managerial services in connection with our day-to-day operations and
 
·
Providing executive and administrative personnel, office space and other appropriate services required in rendering management services to us.

For the quarters ended March 31, 2012 and March 31, 2011, we incurred $3.5 million and $0.8 million in management fees to ARRM, respectively.

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