Company: MITN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001514281-25-000062
Chunk: 220

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 220
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(1)Equity residual investments with a zero coupon rate are excluded from this calculation. 

(2)Weighted average life is based on projected life. Typically, actual maturities are shorter than stated contractual maturities.

(3)Interest Only securities have no principal balances and bear interest based on a notional value. The notional value is used solely to determine interest distributions on the interest only classes of securities. The notional value of interest only classes included in the Non-QM Loans, Agency-Eligible Loans, Home Equity Loans, Prime Jumbo Loans, and Re- and Non-Performing Loans line items was $336.1 million, $48.7 million, $181.4 million, $27.4 million, and $0.8 million, respectively. 

(4)There are Legacy WMC CMBS with an unpaid principal balance of $23.5 million and a fair value of $6.5 million which are on non-accrual or cost recovery status. 

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The following table presents the fair value of our Non-Agency RMBS and Legacy WMC CMBS by credit rating as of March 31, 2025 (in thousands).

Credit Rating (1)Non-Agency RMBSLegacy WMC CMBSAAA$50,533 $— AA6,774 — A6,108 — BBB24,865 — BB17,993 5,308 B11,734 1,144 Below B— 33,056 Not Rated47,662 14,783 Total Non-Agency RMBS and Legacy WMC CMBS$165,669 $54,291 Less: Investments in Debt and Equity of Affiliates$13,079 $— Total GAAP Non-Agency RMBS and Legacy WMC CMBS $152,590 $54,291 

(1)Represents the minimum rating for rated assets of S&P, Moody's, Morningstar, and Fitch credit ratings, stated in terms of the S&P equivalent.

The following table presents the geographic concentration of the underlying collateral for our Non-Agency RMBS and Legacy WMC CMBS portfolios as of March 31, 2025 ($ in thousands).

Non-Agency RMBSLegacy WMC CMBSGeographic LocationConcentrationFair ValueGeographic LocationConcentrationFair ValueCalifornia31.6 %$52,301 California35.