Company: AOMN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001766478-25-000042
Chunk: 54

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 54
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 of December 31, 2024)

Note: No state in “Other” represents more than a 4% concentration of the loans underlying our portfolio of RMBS issued in AOMT securitization transactions as of December 31, 2024. Numbers presented may add to more than 100% due to rounding.

46

CMBS

In November 2020, we participated in a securitization transaction of a pool of small balance commercial mortgage loans consisting of mortgage loans secured by commercial properties pursuant to which we contributed to AOMT 2020-SBC1 commercial mortgage loans with a carrying value of approximately $31.2 million that we had accumulated and held on our balance sheet, and we received bonds from AOMT 2020-SBC1 with a fair value of approximately $8.9 million.

Certain information regarding the commercial mortgage loans underlying our portfolio of CMBS issued in the AOMT 2020-SBC1 securitization transaction is shown below as of March 31, 2025 and December 31, 2024:

March 31, 2025December 31, 2024($ in thousands)UPB of loans$99,447$101,686Number of loans125129Weighted average loan coupon8.4 %8.1 %Average loan amount$796$788Weighted average LTV at loan origination and deal date56.2 %56.2 %

The following table provides certain information with respect to the CMBS we received in connection with the AOMT 2020-SBC1 securitization transactions as of March 31, 2025 and December 31, 2024:

March 31, 2025December 31, 2024CMBSRepurchase DebtAllocated CapitalCMBSRepurchase DebtAllocated Capital(in thousands)Senior$— $— $— $— $— $— Mezzanine— — — — — — Subordinate2,666 — 2,666 2,540 — 2,540 Interest only / excess3,091 — 3,091 3,053 — 3,053 Total$5,757 $— $5,757 $5,593 $— $5,593 

Liquidity and Capital Resources

Overview

Liquidity is a measurement of our ability to meet