Company: AOMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001766478-25-000099
Chunk: 30

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 30
---
)Investments in Majority-Owned Affiliates$21,164 $20,680 Commercial Mortgage Loans, at fair value5,196 5,214 CMBS, at fair value4,869 5,593 Deferred tax asset3,457 3,457 Prepaid expenses2,217 1,095 Loans held for sale 7,300 — Protective advances and other assets622 879Total other assets$44,825 $36,918 Investments in Majority-Owned Affiliates The Company has participated in securitization transactions which involved MOAs in which the Company received investments in each case proportional to its share of the unpaid principal balance of the residential whole loans contributed to the securitizations. The purpose of the MOAs is to retain and hold risk retention bonds issued by the securitization trust. Each MOA is a limited liability company and is accounted for as an equity method investment and held at amortized cost and tested for impairment at least annually utilizing undiscounted cash flows of the underlying bonds. See Note 8 — Fair Value Measurements.Commercial Mortgage LoansCommercial mortgage loans are measured at fair value. As of September 30, 2025 and December 31, 2024, the cost and unpaid principal balance of the assets was $5.5 million and $5.6 million, with a fair value of $5.2 million and $5.2 million, respectively. The weighted average interest rate was 6.23% with a weighted average maturity of 10 years, as of September 30, 2025. There were no commercial mortgage loans more than ninety (90) days past due or in foreclosure as of September 30, 2025 or December 31, 2024.Commercial Mortgage Backed SecuritiesCMBS are held at fair value. As of September 30, 2025 and December 31, 2024, the cost of these assets were $5.5 million and $6.1 million, with a fair value of $4.9 million and $5.6 million, respectively. There was no repurchase debt held against these assets at September 30, 2025 or December 31, 2024.Loans Held for Sale As of September 30, 2025, loans held for sale were $7.3 million and were the result of the Company in conjunction with the Company’s affiliates exercised call rights on the AOMT 201