LIST OF CONSOLIDATED ENTITIES
Published on April 6, 2001
Exhibit 21.1
Dynex Capital, Inc.
List of Consolidated Entities
As of December 31, 2000
AutoBond Funding Corporation 1997-A
Dynex Commercial Services, Inc.
Dynex Healthcare Capital, Inc.
Dynex Home Loan, Inc.
Dynex Securities, Inc.
Financial Asset Securitization, Inc.
GLS Capital Services, Inc.
GLS Development, Inc.
SMFC Funding Corporation
MSC I L.P.
Issuer Holding Corp.
Commercial Capital Access One, Inc.
Resource Finance Co. One
Resource Finance Co. Two
ND Holding Co.
Merit Securities Corporation
GLS Capital, Inc.
GLS Capital Services - Marlborough, Inc.
GLS Capital - Cuyahoga, Inc.
PaineWebber Mortgage Obligations, Inc.
SHF Corp.
NOTE: All companies were incorporated in Virginia except for PaineWebber
Mortgage Obligations (Delaware) and AutoBond Funding Corporation
1997-A (Nevada).