8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (date of earliest event reported): July 3, 2007

FRIEDMAN, BILLINGS, RAMSEY GROUP, INC.

(Exact name of Registrant as specified in its charter)

Virginia	54-1873198	000-50230
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)	(Commission File Number)

1001 Nineteenth Street North,

Arlington, VA 22209

(Address of principal executive offices) (Zip code)

(703) 312-9500

(Registrant’s telephone number including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02(d).    Election of Director.

Item 5.03(a).    Amendment to Bylaws.

      On July 3, 2007, FBR Capital Markets Corporation (FBR Capital Markets, Nasdaq: FBCM) , a majority-owned subsidiary of Friedman, Billings, Ramsey Group, Inc. (the “Company”), issued a press release announcing that the underwriters of FBR Capital Markets' initial public offering have exercised their over-allotment option to purchase an additional 955,950 shares of common stock at the initial public offering price of $17.00 per share. The Company will sell all the shares in connection with the exercise of the over-allotment option. Friedman, Billings, Ramsey & Co., Inc. and Lehman Brothers acted as joint book-running managers and as representatives for the underwriters of this offering. A copy of the press release is attached as Exhibit 99.1.

Item 8.01.    Other Events.

EXHIBIT

 99.1      FBR Capital Markets Corporation Press Release dated July 3, 2007.

  

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.
July 5, 2007	By:	/s/ Kurt R. Harrington
		Kurt R. Harrington      Executive Vice President, Chief Financial Officer and Treasurer

EX-99.1

Contacts:
Media: Lauren Burk at 703.469.1004 or lburk@fbr.com
Investors: Paul Beattie at 703.312.9673 or pbeattie@fbr.com

      FBR Capital Markets Announces Sale of Over- Allotment Shares

ARLINGTON,VA, July 3, 2007 – FBR Capital Markets Corporation (NASDAQ: FBCM) (FBR Capital Markets) today announced that the underwriters of its initial public offering have exercised their over-allotment option to purchase an additional 955,950 shares of common stock at the initial public offering price of $17.00 per share. Friedman, Billings, Ramsey Group, Inc. will sell all the shares in connection with the exercise of the over-allotment option. Friedman, Billings, Ramsey & Co., Inc. and Lehman Brothers acted as joint book-running managers and as representatives for the underwriters of this offering.  

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission as of June 7, 2007. The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from Friedman, Billings, Ramsey & Co., Inc., 1001 Nineteenth Street North, Arlington, Virginia 22209; Attention: Syndicate Department; fax no. (703) 312-9501 and by contacting the prospectus department of Lehman Brothers Inc., c/o Broadridge, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717; email: qiana.smith@broadridge.com or fax (631) 254-7268.  

This release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.  

FBR Capital Markets Corporation (FBR Capital Markets), a majority-owned subsidiary of Friedman, Billings, Ramsey Group, Inc.(FBR), provides investment banking*, merger and acquisition advisory services*, institutional brokerage*, asset management and private wealth services. FBR Capital Markets focuses capital and financial expertise on eight industry sectors: consumer, diversified industrials, energy & natural resources, financial institutions, healthcare, insurance, real estate, and technology, media & telecom. FBR is headquartered in the Washington, D.C. metropolitan area with offices in Arlington, VA, Boston, Dallas, Houston, Irvine, London, New York, Phoenix and San Francisco. For more information, please visit www.fbrcapitalmarkets.com.  

*Friedman, Billings, Ramsey & Co., Inc.

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