Company: AOMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001766478-25-000099
Chunk: 9

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 9
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 Company has utilized variable interest entities (“VIEs”) for the purpose of securitizing whole mortgage loans to obtain long-term non-recourse financing. The Company evaluates its interest in each VIE to determine if it is the primary beneficiary. VIEs for Which the Company is the Primary BeneficiaryThe Company entered into securitization transactions where it was determined that the Company has the power to direct the activities that most significantly impact the VIE’s economic performance. The Company was the sole entity to contribute residential whole mortgage loans to these securitization vehicles.The retained beneficial interest in VIEs for which the Company is the primary beneficiary is the subordinated tranches of the securitization and further interests in additional interest‑only tranches. The following table summarizes the key details of the Company’s loan securitization transactions for which the Company is the primary beneficiary currently outstanding as of September 30, 2025 and December 31, 2024:As of:September 30, 2025December 31, 2024($ in thousands)Aggregate unpaid principal balance of residential whole loans sold$1,893,465 $1,781,311 Fair value adjustment for residential mortgage loans in securitization trusts(31,135)(84,316)Residential mortgage loans in securitization trusts, at fair value$1,862,330 $1,696,995 Outstanding amount of Non-recourse securitization obligation, at amortized cost$1,730,940 $1,630,083 Fair value adjustment for the portion of Non-recourse securitization obligation, at fair value option(4,283)(36,471)Non-recourse securitization obligation, collateralized by residential mortgage loans in securitization trusts$1,726,657 $1,593,612 Weighted average coupon rate for residential mortgage loans in securitization trusts5.70 %5.56 %Weighted average fixed rate for Non-recourse securitization obligation issued4.13 %3.86 %For the period ended:September 30, 2025December 31, 2024(in thousands)Aggregate unpaid principal balance of residential whole loans sold, at deal date$2,611,290 $2,326,980 Face amount of Non-recourse securitization obligation issued by the VIE and purchased by third-party investors, at deal date