Company: MITN
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050624
Chunk: 190

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 190
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 operations and financial condition. 

Similar to the margin calls that we receive on our borrowing agreements, we may also receive margin calls on our derivative instruments when their fair value declines. This typically occurs when prevailing market rates change adversely, with the severity of the change also dependent on the terms of the derivatives involved. We may also receive margin calls on our derivatives based on the implied volatility of interest rates. Our posting of collateral with our counterparties can be done in cash or assets, and is generally bilateral, which means that if the fair value of our interest rate hedges increases, our counterparty will be required to post collateral with us. Refer to the "Liquidity risk – derivatives" section of Item 3 below for a further discussion on margin.

Cash flows

The below details changes to our cash, cash equivalents, and restricted cash for the nine months ended September 30, 2025 and 2024 (in thousands).

Nine Months EndedSeptember 30, 2025September 30, 2024ChangeCash and cash equivalents and restricted cash, Beginning of Period$138,568 $125,573 $12,995 Net cash provided by (used in) operating activities (1)40,894 40,184 710 Net cash provided by (used in) investing activities (2)(1,954,802)(637,889)(1,316,913)Net cash provided by (used in) financing activities (3)1,852,148 586,350 1,265,798 Net change in cash and cash equivalents and restricted cash(61,760)(11,355)(50,405)Cash and cash equivalents and restricted cash, End of Period$76,808 $114,218 $(37,410)

(1)Cash provided by operating activities is primarily attributable to net interest income less operating expenses for the nine months ended September 30, 2025. 

(2)Cash used in investing activities for the nine months ended September 30, 2025 was primarily attributable to purchases of residential mortgage loans and real estate securities, offset by principal repayments on our investment portfolio and proceeds from the sale of certain investments.     

(3)Cash provided by financing activities for the nine months ended September 30, 2025 was primarily attributable to proceeds from the issuance of securitized debt and net borrowings under financing arrangements, offset by principal repayments on securitized debt, repayments of fixed-rate long-term financing arrangements, and