Western Asset Mortgage Capital Corp. operates as a real estate investment trust, which engages in the management of a diversified portfolio of assets. The company is headquartered in Pasadena, California. The company went IPO on 2012-05-10. The firm's objective is to provide attractive risk-adjusted returns to its stockholders primarily through an attractive dividend, which it intends to support with sustainable distributable earnings, as well as the potential for higher returns through capital appreciation. The firm invests in, finances, and manages a portfolio of real estate related securities, whole loans, and other financial assets. The Company’s portfolio is comprised of non-qualified (non-QM) residential whole loans, non-agency residential mortgage-backed securities (RMBS), commercial loans, non-agency commercial mortgage-backed securities (CMBS), and to a lesser extent Agency residential mortgage-backed securities, government-sponsored entity (GSE) Risk Transfer Securities, Residential Bridge Loans, and asset-backed securities (ABS) secured by a portfolio of private student loans.