Company: CIMO
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001409493-25-000028
Chunk: 187

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 187
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569 million, for the nine months ended September 30, 2024. This increase was primarily driven by our Agency CMO and Agency Pass-through purchases during the period, resulting in an increase in interest income on our Agency RMBS portfolio of $48 million as compared to the nine months ended September 30, 2024. The increase in interest income is offset by decreases in income on our Non-agency RMBS and Loans held for investment portfolios of $5 million and $10 million, respectively, due to asset sales and paydowns during the year.

Interest Expense

Quarter ended September 30, 2025 compared to the quarter ended June 30, 2025

Interest expense increased by $9 million, or 6.5%, to $144 million for the quarter ended September 30, 2025, as compared to $135 million for the quarter ended June 30, 2025. This increase was primarily driven by higher borrowings to finance the purchase of $1.2 billion of Agency RMBS pass-throughs towards the end of the quarter. During the quarter ended 

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September 30, 2025, the interest expense on secured financing agreements collateralized by Agency RMBS increased by $12 million due to higher balances. 

This increase was partially offset by a decrease in our average securitized debt balance of $235 million, which resulted in a decrease of $3 million in interest expense on Securitized debt during the quarter ended September 30, 2025, as compared to the quarter ended June 30, 2025. As we continued to rebalance our investment portfolio, we reduced our average secured financing agreements collateralized by Non-Agency RMBS through asset sales and paydowns, which decreased our interest expense on secured financing agreements collateralized by Non-Agency RMBS by $2 million during the quarter ended September 30, 2025, as compared to the quarter ended June 30, 2025. 

Nine months ended September 30, 2025 compared to the nine months ended September 30, 2024

Interest expense increased by $31 million, or 8.4%, to $401 million for the nine months ended September 30, 2025, as compared to $370 million for the nine months ended September 30, 2024. The increase was primarily driven by an increase in interest expense on our secured financing agreements collateralized by Agency RMBS of $32 million, driven by higher borrowings to finance