Company: CIMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006426
Chunk: 399

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 15
Chunk 399
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 for investment had a principal balance of $7.6 billion and $8.4 billion, respectively. At December 31, 2024 and December 31, 2023, the total securitized debt collateralized by Loans held for investment carried a weighted average coupon of 3.5% and 3.4%, respectively. As of December 31, 2024, the maturities of the debt range between the years 2029 and 2067.During the year ended December 31, 2024, the Company did not acquire any securitized debt collateralized by Loans held for investment. During the year ended December 31, 2023, the Company acquired securitized debt collateralized by Loans held for investment with an amortized cost balance of $551 million for $545 million. These transactions resulted in net gain on extinguishment of debt of $6 million. The following table presents the estimated principal repayment schedule of the securitized debt collateralized by Loans held for investment at December 31, 2024 and December 31, 2023, based on expected cash flows of the residential mortgage loans or RMBS, as adjusted for projected losses on the underlying collateral of the debt. All of the securitized debt recorded in the Company’s Consolidated Statements of Financial Condition is non-recourse to the Company. December 31, 2024December 31, 2023 (dollars in thousands)Within One Year$1,288,028 $1,405,503 One to Three Years2,091,147 2,302,421 Three to Five Years1,937,868 1,738,678 Greater Than Five Years2,253,020 2,942,234 Total$7,570,063 $8,388,836 Maturities of the Company’s securitized debt collateralized by Loans held for investment are dependent upon cash flows received from the underlying loans. The estimate of their repayment is based on scheduled principal payments on the underlying loans. This estimate will differ from actual amounts to the extent prepayments or loan losses are experienced. See Note 4 for a more detailed discussion of the loans collateralizing the securitized debt.Certain of the securitized debt collateralized by Loans held for investment contain call provisions at the option of the Company at a specific date. Other securitized debt issued by the Company contain clean-up call provisions.