8-K

                                    FORM 8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



    CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE
                                  ACT OF 1934

        Date of Report (date of earliest event reported): April 23, 2003


                    Friedman, Billings, Ramsey Group, Inc.
            (Exact name of Registrant as specified in its charter)




   Virginia                      32-0045263                     0-50230
(State or other    (I.R.S. Employer incorporation or    (Commission File Number)
jurisdiction of                organization)
Identification No.)



                             1001 Nineteenth Street
                           North Arlington, VA 22209
              (Address of principal executive offices) (Zip code)


                                (703) 312-9500
              (Registrant's telephone number including area code)



Item 5. Other Events and Regulation FD Disclosure


1.   On April 23, 2003,  Friedman,  Billings,  Ramsey Group, Inc. issued a press
     release  announcing  that  the  board of  directors  has  authorized  stock
     repurchases  from time to time of up to 14 million  shares of common stock,
     or  approximately  10% of the total  shares  outstanding.The  company  also
     announced  post-merger officer  appointments.  A complete copy of the press
     release is furnished herewith as Ex. 99.1.

     Ex. 99.1 Press Release Dated April 23, 2003.



                                   SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company
has duly caused this Report to be signed on its behalf by the undersigned
hereunto duly authorized.

FRIEDMAN, BILLINGS, RAMSEY GROUP, INC.

By: /s/ Emanuel J. Friedman
        Emanuel J. Friedman
        Co-Chairman and Co-Chief Executive Officer

EX-99.1

[GRAPHIC OMITTED][GRAPHIC OMITTED]

Investor Contact:          Kurt Harrington 703.312.9647 or kharrington@fbr.com
Media Contacts:            Bob Leahy 703.312.9745 or bleahy@fbr.com or
                           Bill Dixon 703.469.1092 or bdixon@fbr.com


                Friedman, Billings, Ramsey Group, Inc. Announces
                     14 Million Share Buyback Authorization
                 Post-Merger Executive Officer Appointments Made


ARLINGTON,  Va., April 23, 2003 - Friedman,  Billings, Ramsey Group, Inc. (NYSE:
FBR) today announced that the company's board of directors has authorized  stock
repurchases  from time to time of up to 14 million  shares of common  stock,  or
approximately 10% of the total shares outstanding.

In separate board actions,  Richard J. Hendrix,  previously President and COO of
FBR Asset  Investment  Corporation,  which  merged  with FBR Group March 31, was
appointed  to the  position of Chief  Investment  Officer.  As such,  he will be
responsible for overseeing the company's  principal investing activity including
mortgage backed securities and merchant banking. Additionally, both Hendrix, 36,
and J. Rock Tonkel,  40, Executive Vice President and Head of Investment Banking
of Friedman,  Billings,  Ramsey & Co., Inc., were elected executive  officers of
FBR Group.

Hendrix and Tonkel will join founders  Emanuel J. Friedman and Eric F. Billings,
and Chief Operating  Officer Robert S. Smith, in forming a Strategic  Management
Committee to oversee the formation and implementation of the company's strategic
initiatives.  Among the Committee's  responsibilities  will be the oversight and
approval of capital  allocation,  new products and business lines,  and industry
coverage.   Mr.  Hendrix  will  co-ordinate  the   implementation  of  strategic
initiatives approved by the Committee.

Additionally,  the board elected Messrs.  Friedman and Billings  Co-Chairmen and
Co-CEOs.   Operationally,   Mr.   Friedman  is  responsible  for  the  company's
alternative  asset  management  business  and private  client  group,  while Mr.
Billings is responsible for the company's  capital markets business  (investment
banking and institutional brokerage sales and trading),  principal investing and
mutual funds.

Friedman,   Billings,   Ramsey  Group,   Inc.   provides   investment   banking,
institutional brokerage,  asset management,  and private client services through
its  operating  subsidiaries  and  invests  in  mortgage-backed  securities  and
merchant banking  opportunities.  FBR focuses capital and financial expertise on
six industry sectors: financial services, real estate,  technology,  healthcare,
energy and diversified  industries.  FBR, headquartered in the Washington,  D.C.
metropolitan  area, with offices in Arlington,  Va. and Bethesda,  Md., also has
offices in Atlanta,  Boston,  Charlotte,  Chicago,  Cleveland,  Dallas,  Denver,
Irvine, London, New York, Portland, San Francisco,  Seattle, and Vienna. FBR has
elected   REIT   status   for  tax   purposes.   For   more   information,   see
http://www.fbr.com.
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