EXHIBIT 10.5

DOMAIN NAME ASSIGNMENT

THIS DOMAIN NAME ASSIGNMENT (this “ Assignment ”) is dated as of May 20, 2009, and is by and between FRIEDMAN, BILLINGS, RAMSEY GROUP, INC. (d/b/a ARLINGTON ASSET INVESTMENT CORP.), a corporation organized under the laws of the Commonwealth of Virginia (“Assignor”), and FBR CAPITAL MARKETS CORPORATION, a corporation organized under the laws of the Commonwealth of Virginia (“Assignee”). Assignor and Assignee are sometimes referred to herein individually as a “ Party ” and collectively as the “ Parties .”

RECITALS

WHEREAS, Assignor or its majority-owned subsidiaries own all right, title and interest in certain various Domain Names (as such term is defined herein); and

WHEREAS, pursuant to that certain Stock Repurchase Agreement, dated as of May 18, 2009 (“ Repurchase Agreement ”), by and among Assignor, FBR TRS Holdings, Inc., and Assignee, Assignor agreed to assign to Assignee and Assignee agreed to accept the assignment of all rights in the Domain Names.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

AGREEMENT

1.     “ Domain Names ” shall mean all right, title and interest of Assignor and its majority-owned subsidiaries in and to any internet domain names: (a) that relate to the business of the Assignee and are registered in the name of, or controlled pursuant to contractual agreement by, Assignor or any of its majority-owned subsidiaries; (b) that are listed on Schedule A hereto; or (c) that contain any of the terms “Friedman,” “Billings,” “Ramsey,” “FBR,” “Pegasus,” or combinations, modifications or versions thereof (collectively, the “ FBR Terms ”), but, in each case, specifically excluding any domain names containing the terms “Arlington,” “Asset”, “Investment” or “AAIC” or combinations, modifications or versions thereof without con