Company: CIMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006426
Chunk: 402

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 15
Chunk 402
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uritized debt at fair value, collateralized by Loans held for investment6,671,471 7,248,768 Accrued interest payable21,803 23,310 Other liabilities1,984 2,019 Total Liabilities:$6,766,505 $7,349,109 (1) December 31, 2024 and December 31, 2023 balances includes allowance for credit losses of $10 million and $6 million, respectively.Income and expense amounts related to consolidated VIEs recorded in the Consolidated Statements of Operations is presented in the tables below. For the Years Ended December 31, 2024December 31, 2023December 31, 2022 (dollars in thousands)Interest income, Assets of consolidated VIEs$640,499 $593,384 $551,253 Interest expense, Non-recourse liabilities of VIEs293,509 282,542 197,823 Net interest income$346,990 $310,842 $353,430 Increase (decrease) in provision for credit losses$3,889 $(4,367)$(1,904)Servicing fees$26,281 $28,301 $26,964 VIEs for Which the Company is Not the Primary BeneficiaryThe Company is not required to consolidate VIEs in which it has concluded it does not have a controlling financial interest, and thus is not the primary beneficiary. In such cases, the Company does not have both the power to direct the entities’ most significant activities, such as rights to replace the servicer without cause, and the obligation to absorb losses or right to receive benefits that could potentially be significant to the VIEs. The Company’s investments in these unconsolidated VIEs are carried in Non-Agency RMBS on the Consolidated Statements of Financial Condition and include senior and subordinated bonds issued by the VIEs. 

The fair value of the Company’s investments in each unconsolidated VIEs at December 31, 2024, ranged from less than $1 million to $21 million with an aggregate amount of $835 million. The fair value of the Company’s investments in each unconsolidated VIEs at December 31, 2023, ranged from less than $1 million to $20 million, with an aggregate amount of $795 million. The Company’s maximum exposure to