Company: MITN
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001514281-25-000086
Chunk: 161

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 161
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 on our securitized debt, CMBS, and loan purchase commitments which were offset by unrealized losses on residential mortgage loans, commercial loans, and interest rate swaps. 

Three Months Ended June 30, 2025June 30, 2024Residential mortgage loans$(11,500)$(8,747)Commercial loans(684)139 Real estate securities3,888 (4,698)Securitized debt7,990 6,071 Loan purchase commitments424 — Derivatives(158)(1,991)Total Net unrealized gain/(loss)$(40)$(9,226)

Management fee to affiliate

Our management fee is based upon a percentage of our Stockholders’ Equity. See the "Contractual obligations" section of this Item 2 for further detail on the calculation of our management fee and for the definition of Stockholders’ Equity. In connection with the WMC acquisition, we and our Manager entered into the MITT Management Agreement Amendment pursuant to which the base management fee was reduced by $0.6 million for the first four quarters following the transaction closing, beginning with the fiscal quarter in which the transaction closing occurred (i.e., resulting in an aggregate $2.4 million waiver of base management fees). During the three months ended June 30, 2024, the base management fee was reduced by $0.6 million. 

Non-investment related expenses

Non-investment related expenses are primarily comprised of professional fees, directors’ and officers’ ("D&O") insurance, directors’ compensation, and certain non-investment related expenses reimbursable to our Manager or its affiliates. We are required to reimburse our Manager or its affiliates for operating expenses incurred by our Manager or its affiliates on our behalf, including certain compensation expenses and other expenses relating to legal, accounting, and other services. Refer to the "Contractual obligations" section below for more detail on certain expenses reimbursable to our Manager or its affiliates. The following table presents a summary of our non-investment related expenses (in thousands).

Three Months EndedJune 30, 2025June 30, 2024Affiliate reimbursement (1)$1,304 $1,636 Professional fees414 225 D&O insurance255 334 Directors' fees and equity based compensation277 326 Tax expense (2)(20)17 Other303 208 Total Non-investment related expenses$2,533 $2,746 

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