Company: AOMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001766478-25-000099
Chunk: 117

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 117
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(3)     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 condensed consolidated balance sheets.

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The following table sets forth information with respect to our RMBS ending balances, at fair value, for the quarter ended September 30, 2025:

MezzanineSubordinateInterest OnlyWhole PoolTotal(in thousands)Beginning fair value as of June 30, 2025$12,831 $80,510 $10,992 $257,552 $361,885 Acquisitions:Third party securities— — — 153,819 $153,819 Effect of principal payments / called deals— (24,378)(3,347)(254,228)$(281,953)IO and excess servicing prepayments— — (233)— $(233)Changes in fair value, net415 250 2,846 (2,005)$1,506 Ending fair value as of September 30, 2025$13,246 $56,382 $10,258 $155,138 $235,024 

The following table sets forth information with respect to our RMBS ending balances, at fair value, for the year ended December 31, 2024:

MezzanineSubordinateInterest OnlyWhole PoolTotal(in thousands)Beginning fair value as of December 31, 2023$10,972 $55,665 $13,059 $392,362 $472,058 Acquisitions:Retained bonds received in securitizations2,420 14,757 1,838 — 19,015 Third party securities— — — 938,430 938,430 Effect of principal payments / called deals(1,080)— — (1,125,653)(1,126,733)IO and excess servicing prepayments— — (1,974)— (1,974)Changes in fair value, net423 3,127 (415)(3,688)(553)Ending fair value as of  December 31,