Company: AOMN
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001766478-25-000028
Chunk: 57

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 57
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 in newly-originated first lien non-QM loans that are primarily made to higher-quality non-QM loan borrowers and substantially sourced from Angel Oak Mortgage Lending. Since our commencement of operations in September 2018 through December 31, 2024, a substantial portion of the target assets in our portfolio had been acquired from Angel Oak Mortgage Lending, and we expect that, in the future, a substantial portion of our portfolio will continue to consist of target assets acquired from Angel Oak Mortgage Lending. The agreements described below provide the framework pursuant to which we have agreed to purchase from Angel Oak Mortgage Lending certain of our target assets from time to time. However, Angel Oak Mortgage Lending has no obligation to sell to us, and we have no obligation to purchase from Angel Oak Mortgage Lending, any of our target assets pursuant to these agreements or otherwise.

On October 1, 2018, we entered into separate mortgage loan purchase agreements with Angel Oak Home Loans LLC and Angel Oak Mortgage Solutions LLC (the “Residential Mortgage Originators”), affiliates of our

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Manager, which provide for the sale, from time to time, of residential mortgage loans to us, including the related rights to service such mortgage loans. The mortgage loan purchase agreements with the Residential Mortgage Originators may be amended from time to time. For the year ended December 31, 2024, we purchased $248.7 million unpaid principal balance of mortgage loans from the Residential Mortgage Originators for $255.4 million. For the year ended December 31, 2023, we purchased $196.3 million unpaid principal balance of mortgage loans from the Residential Mortgage Originators for $199.8 million.

The purchase price for the loans sold under the agreements described above is generally equal to the outstanding principal amount of the mortgage loan, adjusted by a premium or discount, depending on market conditions.

#### Securitizations
In January 2023, we and other affiliated entities participated in a securitization transaction of a pool of residential mortgage loans, approximately 59% of which were mortgage loans originated by our affiliated mortgage origination companies, secured primarily by first liens on one‑to‑four family residential properties. In the transaction, AOMT 2023-1 issued approximately $580.5 million in face value of bonds. Our proportionate share of 41.21% of the retained bonds and investments in majority-owned affiliates (“MOAs”) was approximately $21.8 million, including a