Company: AOMN
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001766478-25-000019
Chunk: 197

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 8
Chunk 197
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 issuance costs will be amortized until maturity, which will be no later than July 30, 2029. There were no Notes as of December 31, 2023.

7.    Due to Broker

The “Due to broker” account on the consolidated balance sheet as of December 31, 2024 and December 31, 2023 in the amount of $202 million and $392 million, respectively, relates to the purchase of Whole Pool Agency RMBS. Purchases are accounted for on a trade date basis; and, at times, there may be a timing difference between the trade date and the settlement date of a trade. The trade date of this purchase was prior to the applicable year-end dates. These trades settled in January 2025 and 2024, respectively, at which time these assets were simultaneously sold.The purchase transactions of these Whole Pool Agency RMBS are excluded from the condensed consolidated statements of cash flows until settled.

8.    Securities Sold Under Agreements to Repurchase

Transactions involving securities sold under agreements to repurchase are treated as collateralized financial transactions, and are recorded at their contracted repurchase amounts. Margin (if required) for securities sold under agreements to repurchase represents margin collateral amounts held to ensure that the Company has sufficient coverage for securities sold under agreements to repurchase in case of adverse price changes. As of December 31, 2024 and 2023, there was approximately $1.2 million and $0.3 million, respectively, held as margin cash collateral for repurchase agreements recorded in “restricted cash” on the consolidated balance sheets.The following table summarizes certain characteristics of the Company’s repurchase agreements as of December 31, 2024 and 2023:December 31, 2024Repurchase AgreementsAmount OutstandingWeighted Average Interest RateWeighted Average Remaining Maturity (Days)($ in thousands)AOMT RMBS (1)$50,555 5.76 %19December 31, 2023Repurchase AgreementsAmount OutstandingWeighted Average Interest RateWeighted Average Remaining Maturity (Days)($ in thousands)U.S. Treasury Securities$149,013 5.57 %10AOMT RMBS (1)$44,643 7.04 %16Total$193,656 5.91 %11(1)     A portion of repurchase debt outstanding as of December 31, 2024 and December 31, 2023 includes