Company: AOMN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001766478-25-000042
Chunk: 52

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 52
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25,286 (25,286)— $(25,286)Subtotal$98,791 $201,452 $300,243 $50,555 $— $50,555 $48,236 $201,452 $249,688 Investment in Majority Owned Affiliates$20,680 $— $20,680 $— $— $— $20,680 $— $20,680 Total$119,471 $201,452 $320,923 $50,555 $— $50,555 $68,916 $201,452 $270,368 

(1)     Repurchase debt includes borrowings against retained bonds received from on-balance sheet securitizations (i.e., consolidated VIEs).

(2)     The whole pool RMBS presented as of December 31, 2024 were purchased from a broker to whom the Company owed approximately $202 million, payable upon the settlement date of the trade. See Note 6 — Due to Broker in our unaudited condensed consolidated financial statements included in this report.

(3)     A portion of repurchase debt includes borrowings against retained bonds received from on-balance sheet securitizations (i.e., consolidated VIEs). These bonds, with a fair value of $163.9 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 condensed consolidated balance sheets.

44

The following table sets forth information with respect to our RMBS ending balances, at fair value, for the period ended March 31, 2025:

SeniorMezzanineSubordinateInterest OnlyWhole PoolTotal(in thousands)Beginning fair value$— $12,735 $73,549 $12,508 $201,451 $300,243 Acquisitions:Retained bonds received in securitizations— — — — — — Third party securities— — — — 302,619 302,619 Effect of principal payments / called deals— (23)(229)— (201,994)(202,246)IO and excess servicing prepayments— — — (414)— (424)Changes in fair value, net