Exhibit 31.2

CERTIFICATIONS

I, Stephen J. Benedetti, certify that:

1.	I have reviewed this Amendment No. 1 to Quarterly Report on Form 10-Q/A of Dynex Capital, Inc.;

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.	[Intentionally omitted];

4.	[Intentionally omitted];

5.	[Intentionally omitted].

Date:	August 21, 2012
		/s/ Stephen J. Benedetti
		Stephen J. Benedetti
		Principal Financial Officer