Company: AOMN
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001766478-25-000019
Chunk: 191

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 8
Chunk 191
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 any of these securitization entities, and thus has not consolidated the operating results or statements of financial position of any of these entities. The Company performs ongoing reassessments of all VIEs in which the Company has participated since its inception as to whether changes in the facts and circumstances regarding the Company’s involvement with a VIE would cause the Company’s consolidation conclusion to change, and the Company’s assessment of these VIEs remains unchanged.The securities received in the securitization transactions were classified as “available for sale” upon receipt and are included in “RMBS - at fair value” and “Other Assets” on the consolidated balance sheets as of December 31, 2024 and December 31, 2023, and details on the accounting treatment and fair value methodology of the securities can be found in Note 10 — Fair Value Measurements. See also Note 5 — Investment Securities, for the fair value of AOMT securities held by the Company, and Note 15 - Other Assets, for investments in MOAs, as of December 31, 2024 and December 31, 2023 that were retained by the Company as a result of these securitization transactions.

4.    Residential Mortgage Loans

Residential mortgage loans are measured at fair value. The following table sets forth the cost, fair value, weighted average interest rate, and weighted average remaining maturity of the Company’s residential mortgage loan portfolio as of December 31, 2024 and 2023:As of:December 31, 2024December 31, 2023($ in thousands)Cost $183,149 $393,443 Unpaid principal balance$178,373 $386,872 Net premium on mortgage loans purchased4,776 6,571 Change in fair value(85)(13,403)Fair value$183,064 $380,040 Weighted average interest rate7.39 %6.78 %Weighted average remaining maturity (years)3029The following table sets forth data regarding the number of consumer mortgage loans secured by residential real property 90 or more days past due and also those in formal foreclosure proceedings, and the recorded investment and unpaid principal balance of such loans as of December 31, 2024 and 2023:

101

Angel Oak Mortgage REIT, Inc.Notes to the Consolidated Financial Statements

As of:December 31, 2024December 31, 2023($ in thousands)