Company: AOMN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001766478-25-000042
Chunk: 20

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 20
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 2025:Level 1Level 2Level 3Total(in thousands)Assets, at fair valueResidential mortgage loans$— $437,228 $2,232 $439,460 Residential mortgage loans in securitization trusts— 1,648,331 23,858 1,672,189 Investments in securitiesAOMT RMBS (1)— 97,210 — 97,210 Whole Pool Agency RMBS— 301,062 — 301,062 U.S. Treasury Securities74,959 — — 74,959 Unrealized appreciation on TBAs1,421 — — 1,421 Other Assets, at fair value (2)— 10,965 — 10,965 Total assets, at fair value$76,380 $2,494,796 $26,090 $2,597,266 Liabilities, at fair valueNon-recourse securitization obligation, collateralized by residential mortgage loans (3)$— $1,178,727 $— $1,178,727 Unrealized depreciation on futures contracts948 — — 948 Total liabilities, at fair value$948 $1,178,727 $— $1,179,675 (1)     AOMT RMBS held as of March 31, 2025 included both retained tranches of AOMT securitizations in which the Company participated, additional AOMT securities purchased in secondary market transactions, and other RMBS purchased in secondary market transactions. (2)     Includes Commercial Loans and AOMT commercial mortgage backed securities (“CMBS”) assets. All AOMT CMBS held as of March 31, 2025 was comprised of a small-balance commercial loan securitization issuance in which the Company participated.(3)     Only the portion subject to fair value measurement, as adjusted for fair value, is presented above. See below for the disclosure of the full debt at fair value.Transfers from Level 2 to Level 3 were comprised of residential loans more than 90 days overdue (including those in foreclosure) and commercial mortgage loans in special servicing or otherwise considered “non‑performing” by the Company’s third‑party valuation providers. Transfers between Levels are deemed to take place on the first day of the reporting period in which the transfer