Company: CIMO
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001409493-25-000028
Chunk: 201

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 201
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7 million for the quarters ended September 30, 2025 and June 30, 2025, respectively. G&A expenses were approximately $21 million and $18 million for the nine months ended September 30, 2025 and September 30, 2024. G&A expenses are primarily comprised of legal, market data and research, auditing, consulting, information technology, rent and independent investment consulting expenses.

During the quarter ended September 30, 2025, we incurred transaction expenses of $10 million in relation to the HomeXpress Acquisition. During the quarter ended June 30, 2025, we incurred transaction expenses of $390 thousand due to HomeXpress Acquisition. 

Servicing and Asset Manager Fee Expense

Servicing fees and asset manager expenses remained relatively unchanged at $7 million for the quarters ended September 30, 2025 and June 30, 2025, respectively. Servicing fees and asset manager expenses remained relatively unchanged at $22 million for the nine months ended September 30, 2025 and September 30, 2024, respectively. These servicing fees are primarily related to the servicing costs of the whole loans held in consolidated securitization vehicles and are paid from interest income earned by the VIEs. Servicing fees generally ranged from 2 to 50 basis points of unpaid principal balances of our consolidated VIEs.

Amortization of intangibles and depreciation expenses

We recognized intangible assets related to investment management agreements and developed technology acquired in the transaction. The long-lived fixed assets are comprised of leasehold improvements, furniture and fixtures, and computers. The fixed assets and intangible assets are depreciated or amortized over their estimated useful lives. We acquired both intangible assets and long-lived fixed assets through the Palisades Acquisition during the fourth quarter of 2024. During the quarters ended September 30, 2025 and June 30, 2025, we recognized amortization of intangible assets and depreciation expense of $948 thousand and $949 thousand, respectively. During the nine months ended September 30, 2025, we recognized amortization of intangible assets and depreciation expense of $3 million.

 Earnings available for distribution 

Earnings available for distribution is a non-GAAP measure and is defined as GAAP net income (loss) excluding (i) unrealized gains or losses on financial instruments carried at fair value with changes in fair value recorded in earnings, (ii) realized gains or losses on