Annaly Capital Management Inc a diversified capital manager engages in mortgage finance and corporate middle market lending The company invests in agency mortgagebacked securities mortgage servicing rights Agency commercial mortgagebacked securities nonAgency residential mortgage assets residential mortgage loans credit risk transfer securities corporate debts and other commercial real estate investments It has elected to be taxed as a real estate investment trust REIT As a REIT it is not subject to federal income tax to the extent that it distributes its taxable income to its shareholders The company was founded in 1996 and is based in New York New York