Company: AOMN
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001766478-25-000019
Chunk: 193

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 8
Chunk 193
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 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 million, payable upon the settlement date of the trade. See Note 8 - Due to Broker.

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The following table sets forth certain information about the Company’s investment in RMBS as of December 31, 2023:December 31, 2023Real Estate Securities at Fair ValueRepurchase Debt (1)Allocated Capital(in thousands)AOMT RMBS (1)Senior$— $— $— Mezzanine$10,972 $(844)$10,128 Subordinate55,665 (19,812)35,853 Interest Only/Excess13,059 (1,871)11,188 Retained RMBS in VIEs (2)— (22,116)(22,116)Total AOMT RMBS$79,696 $(44,643)$35,053 Whole Pool Agency RMBS (3)Fannie Mae$278,510 $— $278,510 Freddie Mac113,852 — 113,852 Whole Pool Total Agency RMBS$392,362 $— $392,362 Total RMBS$472,058 $(44,643)$427,415 (1)     AOMT RMBS held as of December 31, 2023 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 $