Company: AOMN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001766478-25-000042
Chunk: 12

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 12
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 to Broker.

11

Angel Oak Mortgage REIT, Inc.Notes to the Condensed Consolidated Financial Statements(Unaudited)

The following table sets forth certain information about the Company’s investments in RMBS at fair value as of December 31, 2024:December 31, 2024Real Estate Securities at Fair ValueRepurchase DebtAllocated Capital(in thousands)AOMT RMBS (1)Mezzanine$12,735 $(5,440)$7,295 Subordinate73,548 (19,829)53,719 Interest Only/Excess12,508 — 12,508 Retained RMBS in VIEs (2)— (25,286)(25,286)Total AOMT RMBS$98,791 $(50,555)$48,236 Whole Pool Agency RMBS (3)Fannie Mae$161,878 $— $161,878 Freddie Mac39,574 — 39,574 Whole Pool Total Agency RMBS$201,452 $— $201,452 Total RMBS$300,243 $(50,555)$249,688 (1)     AOMT RMBS held as of December 31, 2024 included both retained tranches of AOMT securitizations in which the Company participated and additional AOMT securities purchased in secondary market transactions.(2)     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 consolidated balance sheets.(3)     The whole pool RMBS presented as of December 31, 2024 were purchased from a broker to whom the Company owes approximately $202.0 million, payable upon the settlement date of the trade. See Note 6 - Due to Broker.The following table sets forth certain information about the Company’s investments in U.S. Treasury securities as of March 31, 2025 and December 31, 2024:DateFace ValueUnamortized Discount, netAmortized CostUnrealized Gain/(Loss)Fair ValueNet Effective Yield($ in thousands)March 31,