Company: AOMN
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001766478-25-000019
Chunk: 203

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 8
Chunk 203
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 processes and procedures to ensure that the valuation techniques are fair and consistent, and valuation inputs are verifiable. The valuation committee of the Company’s Manager (the “Committee”) oversees the valuation process of the Company’s investments. The Committee is comprised of various personnel of the Company’s Manager, including those that are separate from the Company’s portfolio management and trading functions. The Committee is responsible for developing the Company’s written valuation processes and procedures, conducting periodic reviews of the valuation policies, and evaluating the overall fairness and consistent application of the valuation policies. The Committee meets on a monthly basis, or more frequently as needed, to review the valuations of the Company’s investments. If a security does not have a pricing source which is available or reliable, the Company’s Manager considers all appropriate factors relevant to determine the fair value of the security. Valuations determined by the Company’s Manager are required to be supported by market data, third‑party pricing sources, and industry accepted pricing models.

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The following table sets forth information about the Company’s financial assets and liabilities measured at fair value as of December 31, 2024:Level 1Level 2Level 3Total(in thousands)Assets, at fair valueResidential mortgage loans$— $183,064 $— $183,064 Residential mortgage loans in securitization trusts— 1,664,921 32,074 1,696,995 Investments in securitiesAOMT RMBS (1)— 98,791 — 98,791 Whole Pool Agency RMBS— 201,452 — 201,452 Unrealized depreciation on futures contracts987 — — 987 Unrealized depreciation on TBAs528 — — 528 Other Assets, at fair value (2)— 10,807 — 10,807 Total assets, at fair value$1,515 $2,159,035 $32,074 $2,192,624 Liabilities, at fair valueNon-recourse securitization obligation, collateralized by residential mortgage loans (3)$— $1,524,828 $— $1,524,828 Total liabilities, at fair value$— $1,524,828 $— $1,524,828 (1)     Non‑Agency RMBS held as of December 31, 2024 included both retained tranches of AOMT se