Exhibit 31.1
                                 CERTIFICATIONS
I, Matthew Lambiase, certify that:

         1.       I have reviewed this quarterly report on Form 10-Q of Chimera
                  Investment Corporation;

         2.       Based on my knowledge, this report does not contain any untrue
                  statement of a material fact or omit to state a material fact
                  necessary to make the statements made, in light of the
                  circumstances under which such statements were made, not
                  misleading with respect to the period covered by this report;

         3.       Based on my knowledge, the financial statements, and other
                  financial information included in this report, fairly present
                  in all material respects the financial condition, results of
                  operations and cash flows of the registrant as of, and for,
                  the periods presented in this report;

         4.       The registrant's other certifying officer and I are
                  responsible for establishing and maintaining disclosure
                  controls and procedures (as defined in Exchange Act Rules
                  13a-15(e) and 15d-15(e)) and internal control over financial
                  reporting (as defined in Exchange Act Rules 13a-15(f) and
                  15d-15(f) for the registrant and have:

                    a.   Designed such disclosure controls and procedures or
                         caused such disclosure controls and procedures to be
                         designed under our supervision, to ensure that material
                         information relating to the registrant, including its
                         consolidated subsidiaries, is made known to us by
                         others within those entities, particularly during the
                         period in which this report is being prepared;

                    b.   Designed such internal control over financial
                         reporting, or caused such internal control over
                         financial reporting to be designed under our
                         supervision, to provide reasonable assurance regarding
                         the reliability of financial reporting and the
                         preparation of financial statements for external
                         purposes in accordance with generally accepted
                         accounting principles;

                    c.   Evaluated the effectiveness of the registrant's
                         disclosure controls and procedures and presented in
                         this report our conclusions about the effectiveness of
                         the disclosure controls and procedures, as of the end
                         of the period covered by this report based on such
                         evaluation; and

                    d.   Disclosed in this report any change in the registrant's
                         internal control over financial reporting that occurred
                         during the registrant's most recent fiscal quarter (the
                         registrant's fourth fiscal quarter in the case of an
                         annual report) that has materially affected, or is
                         reasonably likely to materially affect, the
                         registrant's internal control over financial reporting;
                         and

         5.       The registrant's other certifying officer and I have
                  disclosed, based on our most recent evaluation of internal
                  control over financial reporting, to the registrant's auditors
                  and the audit committee of the registrant's board of directors
                  (or persons performing the equivalent functions):

                    a.   All significant deficiencies and material weaknesses in
                         the design or operation of internal controls over
                         financial reporting which are reasonably likely to
                         adversely affect the registrant's ability to record,
                         process, summarize and report financial information;
                         and

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                    b.   Any fraud, whether or not material, that involves
                         management or other employees who have a significant
                         role in the registrant's internal control over
                         financial reporting.

                              Date:  November 10, 2008
                              /s/ Matthew Lambiase
                              --------------------
                              Matthew Lambiase
                              Chief Executive Officer and President (Principal
                              Executive Officer)

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