Company: AOMN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001766478-25-000080
Chunk: 50

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 50
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9.4 million in the 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 six months ended June 30, 2025 and 2024 are set forth as follows:

Six Months EndedJune 30, 2025June 30, 2024(in thousands)Realized and unrealized gain (loss) on securitization, net of unrealized gain (loss) on non-recourse securitization obligation$13,419 $379 Realized gain (loss) on RMBS(622)(1,698)Unrealized gain (loss) on Whole Pool Agency RMBS5,640 (4,425)Realized gain (loss) on CMBS(264)(119)Realized gain (loss) on interest rate futures(2,536)3,839 Realized and unrealized gain (loss) on TBAs(5,590)4,112 Realized and unrealized gain (loss) on residential mortgage loans1,754 2,051 Realized and unrealized gain (loss) on commercial mortgage loans— 49 Realized and unrealized gain (loss) on U.S. Treasury securities— (86)Unrealized appreciation (depreciation) on interest rate futures(2,134)1,048 Realized gain/(loss) on AOMT MOA(299)— Total realized and unrealized gains (losses), net$9,368 $5,150 

For the six months ended June 30, 2025 and 2024, total realized and unrealized gains (losses), net resulted in a net gains of           $9.4 million and $5.2 million, respectively. During the six months ended June 30, 2025, gains on securitization, net of non-recourse securitization obligation, partially offset by losses on TBAs, were the primary drivers of the net gain. In the six months ended June 30, 2024, the net realized and unrealized gain was primarily due to gains on TBAs, interest rate futures, and residential mortgage loans offset by losses on whole pool agency RMBS.

37

Expenses

Operating Expenses

For the six months ended June 30, 2025 and 2024, our operating expenses were $2.5 million and