Company: AOMN
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001766478-25-000019
Chunk: 194

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 8
Chunk 194
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124.1 million, are not reflected in the consolidated balance sheets, as the Company reflects the assets of the VIE (residential mortgage loans in securitization trusts - at fair value) on its consolidated balance sheets.(3)     The whole pool RMBS presented as of December 31, 2023 were purchased from a broker to whom the Company owes approximately $392 million, payable upon the settlement date of the trade. See Note 8 - Due to Broker.The following table sets forth certain information about the Company’s investment in U.S. Treasury Securities as of December 31, 2023. The Company did not hold any U.S. Treasury Securities as of December 31, 2024.DateFace ValueUnamortized Discount, netAmortized CostUnrealized LossFair ValueNet Effective Yield($ in thousands)December 31, 2023$150,000 $159 $149,841 $86 $149,927 5.30 %

6.    Financing

The Company has the ability to finance residential whole loans and lines of credit and commercial whole loans, utilizing lines of credit (notes payable) from various counterparties, as further described below. Outstanding borrowings bear interest at floating rates depending on the lending counterparty, the collateral pledged, and the rate in effect for each interest period, as the same may change from time to time at the end of each interest period. Some loans include upfront fees, exit or withdrawal fees, covenants and concentration limits on types of collateral pledged, many of which vary based on the counterparty. Occasionally, a lender may require certain margin collateral to be posted on a warehouse line of credit. There was no margin collateral required as of December 31, 2024 or December 31, 2023.

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The following table sets forth the details of all the lines of credit available to the Company for whole loan purchases during the years ended December 31, 2024 and 2023, and the drawn amounts as of December 31, 2024 and 2023:Interest Rate Pricing SpreadDrawn AmountNote PayableBase Interest RateDecember 31, 2024December 31, 2023($ in thousands)Multinational Bank 1 (1)Average Daily SOFR1.75% - 2.10%$100,711 $206,183 Global Investment Bank 2 (2)1 month SOFR1.75% -