-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001181431-09-035274.txt : 20090714
<SEC-HEADER>0001181431-09-035274.hdr.sgml : 20090714
<ACCEPTANCE-DATETIME>20090714172646
ACCESSION NUMBER:		0001181431-09-035274
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090710
FILED AS OF DATE:		20090714
DATE AS OF CHANGE:		20090714

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FBR CAPITAL MARKETS CORP
		CENTRAL INDEX KEY:			0001371446
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1001 NINETEETH ST NORTH
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22209
		BUSINESS PHONE:		703-312-9500

	MAIL ADDRESS:	
		STREET 1:		1001 NINETEETH ST NORTH
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22209

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Arlington Asset Investment Corp.
		CENTRAL INDEX KEY:			0001209028
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33518
		FILM NUMBER:		09944494

	BUSINESS ADDRESS:	
		STREET 1:		1001 19TH STREET NORTH
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22209
		BUSINESS PHONE:		7033129500

	MAIL ADDRESS:	
		STREET 1:		1001 19TH STREET NORTH
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22209

	FORMER NAME:	
		FORMER CONFORMED NAME:	FRIEDMAN BILLINGS RAMSEY GROUP INC
		DATE OF NAME CHANGE:	20030331

	FORMER NAME:	
		FORMER CONFORMED NAME:	FOREST MERGER CORP
		DATE OF NAME CHANGE:	20021205

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FBR Securities Investment HY, LLC
		CENTRAL INDEX KEY:			0001464442
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33518
		FILM NUMBER:		09944493

	BUSINESS ADDRESS:	
		STREET 1:		1001 NINETEENTH STREET NORTH
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22209
		BUSINESS PHONE:		(703) 312-9647

	MAIL ADDRESS:	
		STREET 1:		1001 NINETEENTH STREET NORTH
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22209
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd248476.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-07-10</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001371446</issuerCik>
        <issuerName>FBR CAPITAL MARKETS CORP</issuerName>
        <issuerTradingSymbol>FBCM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001209028</rptOwnerCik>
            <rptOwnerName>Arlington Asset Investment Corp.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1001 19TH STREET  NORTH</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ARLINGTON</rptOwnerCity>
            <rptOwnerState>VA</rptOwnerState>
            <rptOwnerZipCode>22209</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001464442</rptOwnerCik>
            <rptOwnerName>FBR Securities Investment HY, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1001 19TH STREET NORTH</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ARLINGTON</rptOwnerCity>
            <rptOwnerState>VA</rptOwnerState>
            <rptOwnerZipCode>22209</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-07-10</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>411032</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>4.4715</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>14755017</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Following the transaction the shares beneficially owned by Arlington Asset Investment Corp. (&quot;Arlington&quot;) were held of record as follows: (i) 10,766,049 shares were held directly by FBR TRS Holdings, Inc., a wholly-owned subsidiary of Arlington; and (ii) 3,988,968 shares were held directly by FBR Securities Investment HY, LLC, a wholly-owned subsidiary of Arlington.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ D. Scott Parish, Corporate Secretary for Arlington Asset Investment Corp.</signatureName>
        <signatureDate>2009-07-14</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ D. Scott Parish, Assistant Secretary for FBR Securities Investment HY, LLC</signatureName>
        <signatureDate>2009-07-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----