Western Asset Mortgage Capital is a real estate investment company. Co. focuses on investing in, financing and managing a portfolio of real estate related securities, whole loans and other financial assets, which Co. collectively refers to as its target assets. Co. is externally managed by Western Asset Management Company, LLC. Co.'s target assets include: residential whole loans, which are mortgages secured by single family residences held directly by Co. or through consolidated trusts with Co. holding the beneficial interest in the trusts; and non-agency residential mortgage-backed securities, which are not guaranteed by a U.S. Government agency or U.S. Government-sponsored entity.