Company: MITN
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001514281-25-000026
Chunk: 131

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 7
Chunk 131
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)1,141 (6,922)Equity in earnings/(loss) from affiliates$3,141 $(1,390)

(1) The earnings within MATT for the year ended December 31, 2024 were primarily the result of net interest income of $2.9 million offset by unrealized losses of $(1.4) million and expenses of $(0.2) million. The earnings within MATT for the year ended December 31, 2023 were primarily the result of net interest income of $3.5 million and unrealized gains of $0.7 million offset by other expenses of $(0.2) million.

(2) Throughout the year ended December 31, 2023, Land Related Financing continued to pay down and paid off in full during the fourth quarter 2023. 

(3) Refer to the table below for additional detail on the earnings/(loss) generated from our investment in AG Arc. 

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The below table further disaggregates our "Equity in earnings/(loss) from affiliates" line item on our consolidated statements of operations (in thousands).

Years EndedDecember 31, 2024December 31, 2023Interest income$3,836 $6,098 Interest expense261 908 Total Net Interest Income3,575 5,190 Net unrealized gain/(loss)(1,351)852 After-tax earnings/(loss) at AG Arc (1)(323)(4,021)Net unrealized gain/(loss) on investment in AG Arc (2)2,571 (1,459)Elimination of gains on loans sold to MITT (3)(1,107)(1,442)Total AG Arc Earnings/(Loss)1,141 (6,922)Other operating expenses (4)224 510 Equity in earnings/(loss) from affiliates$3,141 $(1,390)

(1)The earnings/(loss) at AG Arc during the year ended December 31, 2024 were primarily the result of $0.6 million related to changes in the fair value of the MSR portfolio held by Arc Home offset by $(0.9) million of losses related to Arc Home's lending and servicing operations. The earnings/(loss) at AG Arc during the year ended December 31, 2023 were primarily the result of $(3.8) million related to changes in the fair value of the MSR portfolio held by Arc Home coupled