Invesco Mortgage Capital Inc. operates as a Real Estate Investment Trust (REIT), primarily dedicating its activities to the investment, financing, and management of mortgage-backed securities (MBS) and other assets tied to the mortgage market. Its diverse investment portfolio includes both agency-guaranteed and privately-issued residential and commercial mortgage-backed securities (RMBS and CMBS); unsecured credit risk transfer securities originating from government-sponsored enterprises; direct residential and commercial mortgage loans; and various other real estate-related financing instruments. By electing REIT status, the company is exempt from federal corporate income taxes, provided it distributes at least 90% of its taxable earnings to its shareholders.