Company: MITN
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001514281-25-000086
Chunk: 167

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 167
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2025June 30, 2024Residential mortgage loans$96,257 $14,332 Commercial loans(2,455)250 Real estate securities5,130 (4,814)Securitized debt(92,032)(16,358)Loan purchase commitment424 — Derivatives(6,562)7,378 Total Net unrealized gain/(loss)$762 $788 

Management fee to affiliate

During the six months ended June 30, 2024, the base management fee was reduced by $1.2 million in connection with the WMC acquisition. 

Non-investment related expenses

The following table presents a summary of our non-investment related expenses (in thousands).

Six Months EndedJune 30, 2025June 30, 2024Affiliate reimbursement (1)$3,143 $3,300 Professional fees870 772 D&O insurance510 668 Directors' fees and equity based compensation613 644 Tax expense (2)97 42 Other608 434 Total Non-investment related expenses$5,841 $5,860 

(1)For the six months ended June 30, 2024, the Manager agreed to waive its right to receive expense reimbursements of $0.6 million pursuant to the MITT Management Agreement Amendment executed in connection with the WMC acquisition.

(2)Estimated excise tax expense of $43 thousand was recognized during the six months ended June 30, 2025, which included $0.1 million related to an excise tax refund. We did not recognize any excise tax during the six months ended June 30, 2024. 

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Investment related expenses

Investment related expenses are primarily comprised of servicing fees, asset management fees, trustee fees, and certain investment related expenses reimbursable to the Manager or its affiliates. We are required to reimburse our Manager or its affiliates for operating expenses incurred by our Manager or its affiliates on our behalf associated with our investment portfolio.  The following table presents a summary of our investment related expenses (in thousands).

Six Months EndedJune 30, 2025June 30, 2024Affiliate reimbursement$295 $201 Servicing fees3,950 3,774 Residential mortgage loan asset management fees1,079 1,334 Trustee and bank fees1,178 1,046 Other381 419