Company: AOMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001766478-25-000099
Chunk: 51

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 51
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 comparable period of 2024.

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Total Realized and Unrealized Gains (Losses)

The components of total realized and unrealized gains (losses), net for the nine months ended September 30, 2025 and 2024 are set forth as follows:

Nine Months EndedSeptember 30, 2025September 30, 2024(in thousands)Realized and unrealized gain (loss) on securitization, net of unrealized gain (loss) on non-recourse securitization obligation$16,149 $25,607 Realized gain (loss) on RMBS(2,109)(2,469)Realized and unrealized gain (loss) on Whole Pool Agency RMBS3,668 (6,355)Realized gain (loss) on CMBS(553)(186)Realized gain (loss) on interest rate futures(5,636)(622)Realized and unrealized gain (loss) on TBAs(3,761)5,992 Realized and unrealized gain (loss) on residential mortgage loans5,813 9,839 Realized and unrealized gain (loss) on commercial mortgage loans— 48 Realized and unrealized gain (loss) on U.S. Treasury securities— (99)Unrealized appreciation (depreciation) on interest rate futures957 2,232 Realized gain/(loss) on AOMT MOA(437)— Total realized and unrealized gains (losses), net$14,091 $33,987 

For the nine months ended September 30, 2025 and 2024, total realized and unrealized gains (losses), net resulted in a net gains of           $14.1 million and $34.0 million, respectively. During the nine months ended September 30, 2025, realized and unrealized gains on securitization, net of unrealized gain (loss) on non-recourse securitization obligation, partially offset by realized losses on RMBS, were the primary drivers of the net gain. In the nine months ended September 30, 2024, the net realized and unrealized gain was primarily due to gains on securitization, net of unrealized gain (loss) on non-recourse securitization obligation, and realized and unrealized gains on residential mortgage loans.

40

Expenses

Operating Expenses

For the nine months ended September