American Capital Agency Corporation is a mortgage real estate investment trust that deals in agency securities. Its principal and interest payments are guaranteed by the Government National Mortgage Association (GNMA), Federal Home Loan Mortgage Corporation (FHLMC) and Federal National Mortgage Association (FNMA). The company s agency securities are comprised of single-family residential pass-through certificates and Collateralized Mortgage Obligations. Its securities are collateralized by fixed- and adjustable-rate mortgage loans. American Capital Agency Corporation works in partnership with various commercial banks, savings and loan institutions, and mortgage bankers and lenders. It is administered by American Capital Agency Management, which is a subsidiary of American Capital.