Company: AOMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001766478-25-000099
Chunk: 15

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 15
---
). 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 6 - Due to Broker.

5.    Financing

The Company has the ability to finance residential and commercial whole loans, utilizing lines of credit (notes payable) from various counterparties, as further described below. Outstanding borrowings bear interest at floating rates depending on the lending counterparty, the collateral pledged, and the rate in effect for each interest period, as the same may change from time to time at the end of each interest period. Some agreements include upfront fees, fees on unused balances, covenants and concentration limits on types of collateral pledged which vary based on the counterparty. Occasionally, a lender may require certain margin collateral to be posted on a warehouse line of credit. There was no margin collateral required as of September 30, 2025 or December 31, 2024.

14

Angel Oak Mortgage REIT, Inc.Notes to the Condensed Consolidated Financial Statements(Unaudited)

The following table sets forth the details of the Company’s financing as of September 30, 2025 and December 31, 2024 ($ in thousands):September 30, 2025December 31, 2024Current FaceCarrying ValueStated MaturityBase/Fixed Interest Rate Interest Rate Pricing SpreadCarrying ValueNotes payableMultinational Bank 1 (1)$252,100 $252,100 March 2026Average Daily SOFR1.65% - 2.10%$100,711 Global Investment Bank 2 (2)143 143 March 20261 Month Term SOFR1.75% - 3.35%15,111 Global Investment Bank 3 (3)90,365 90,365 September 2026Compound SOFR1.75% - 4.75%13,637 Total Notes Payable Financing$342,608 $342,608 $129,459 Non-recourse securitization obligation, at fair value $1,730,940 $1