Company: AOMN
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001766478-25-000019
Chunk: 126

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 7
Chunk 126
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ization trusts, net of non-recourse securitization obligation increased by $21.9 million in 2024. The reversal of the unrealized loss (and thereby the recognition of net realized loss as discussed above) on the sale of residential mortgage loans into the AOMT 2024-3 and AOMT 2024-6 securitizations contributed to this unrealized gain. Additionally, we purchased $683.7 million of newly-originated, market coupon loans during 2024, which saw an appreciation in value over the course of the year.

Whole loans and securitization activity

During the year ended December 31, 2024, we purchased $683.7 million of newly-originated non-QM residential mortgage loans, with a weighted average coupon of 7.64%, weighted average LTV of 70.2% and weighted average credit score of 749. Comparatively, during the year ended December 31, 2023, we purchased $222.7 million of non-QM residential mortgage loans, with a weighted average coupon of 8.37%, weighted average LTV of 70.1% and weighted average credit score of 754.

We participated in five securitization transactions in 2024, contributing a total of $855 million of scheduled unpaid principal balance of residential mortgage loans to the securitizations. In March 2024, we participated in AOMT 2024-3, a $439.6 million scheduled unpaid principal balance securitization backed by a pool of residential mortgage loans, to which we contributed loans with a scheduled unpaid principal balance of approximately $48.7 million. In April 2024, we issued AOMT 2024-4, securitizing a total of $299.8 million of scheduled unpaid principal balance of  non-QM mortgage loans. In June 2024, we participated in AOMT 2024-6, an approximately $479.6 million scheduled unpaid principal balance securitization backed by a pool of residential mortgage loans, to which we contributed loans with a scheduled unpaid principal balance of approximately $22.9 million. In October 2024, we issued AOMT 2024-10, securitizing a total of $316.8 million of scheduled unpaid principal balance of  non-QM mortgage loans. Lastly, in December 2024, we participated in AOMT 2024-13, a $288.