Company: MITN
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001514281-25-000086
Chunk: 31

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 31
---
 following table summarizes our Securitized residential mortgage loans and Securitized debt, as well as the economic interest on retained Certificates related to our Non-Agency VIEs as of June 30, 2025 (in thousands).

Unpaid Principal BalanceFair ValueSecuritized residential mortgage loans in Non-Agency VIEs$6,745,966 $6,510,682 Securitized debt in Non-Agency VIEs (1)6,112,735 5,839,789 Other assets (2)N/A4,672 Retained Certificates from Non-Agency VIEs (3)(4)(5)(6)$675,565 Retained interests in Non-Agency VIEsCurrent FaceFair ValueSenior Bonds$98,397 $100,007 Mezzanine Bonds23,348 21,709 Subordinate Bonds515,681 381,306 Interest Only / Excess Servicing Bonds (1)(7)N/A172,543 Retained Certificates from Non-Agency VIEs (3)(4)(5)(6)$675,565 Financing arrangements on retained Certificates from Non-Agency VIEs395,691 Retained Certificates from Non-Agency VIEs, net of financing arrangements$279,874 

(1)Interest Only securities have no principal balances and bear interest based on a notional value. The notional value is used solely to determine interest distributions on the interest only classes of securities. The Securitized debt in Non-Agency VIEs and Interest Only/Excess Servicing Bonds line items include interest only classes with a notional value of $2.0 billion and $12.0 billion, respectively. 

(2)Represents the fair value of real estate owned within Non-Agency VIEs. We record real estate owned at the lower of cost or fair value less estimated costs to sell. We recorded real estate owned within our Non-Agency VIEs at $4.5 million.      

(3)Maximum loss exposure from our involvement with VIEs pertains to the fair value of the Certificates retained from the VIEs. We have no obligation to provide any other explicit or implicit support to the securitization trusts.

(4)Our equity at risk included bonds with a fair value of $472.4 million held in order to comply with Risk Retention Rules. We are generally required to hold the Required Credit