Amended and Restated Bylaws

On January 9, 2017, the Board of Directors (the Board) of Chimera
Investment Corporation (Chimera) approved and adopted an
amendment to Chimeras Amended and Restated Bylaws (as so amended,
the Bylaws) for Chimera. The Bylaws became effective immediately
upon approval by the Board. The amendment removed the provision
that the Board had the exclusive power to adopt, alter or repeal
any provisions of the Bylaws and added the provision that in
addition to the Boards power to adopt, alter or repeal any
provision of the Bylaws and to adopt new Bylaws, the stockholders
may alter or repeal any provision of the Bylaws and adopt new
Bylaw provisions if any such alteration, repeal or adoption is
approved by the affirmative vote of two-thirds of the votes
entitled to be cast on the matter.

The foregoing description of the Bylaws does not purport to be
complete and is qualified by reference to the full text of the
Bylaws, which is attached as Exhibit 3.1 to this Current Report
on Form 8-K and incorporated herein by reference.

Item 9.01.Financial Statements and Exhibits