Company: MITN
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050624
Chunk: 36

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 36
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iliates$11,305 $— Total GAAP Non-Agency RMBS and Legacy WMC CMBS $149,715 $40,683 

(1)Represents the minimum rating for rated assets of S&P, Moody's, Morningstar, and Fitch credit ratings, stated in terms of the S&P equivalent.

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The following table presents the geographic concentration of the underlying collateral for our Non-Agency RMBS and Legacy WMC CMBS portfolios as of September 30, 2025 ($ in thousands).

Non-Agency RMBSLegacy WMC CMBSGeographic LocationConcentrationFair ValueGeographic LocationConcentrationFair ValueCalifornia32.4 %$52,167 California43.9 %$17,859 Florida9.1 %14,655 Minnesota16.4 %6,672 New York8.6 %13,928 Texas8.9 %3,602 Texas4.6 %7,419 New York6.1 %2,465 New Jersey3.6 %5,807 Ohio4.7 %1,923 Other41.7 %67,044 Other20.0 %8,162 Total100.0 %$161,020 Total100.0 %$40,683 

Agency RMBS

Although our investment activities primarily include acquiring and securitizing newly-originated residential mortgage loans, from time to time we invest excess liquidity into Agency RMBS. The following table presents the fair value, constant prepayment rate (“CPR”), coupon, and weighted average life experienced on our Agency RMBS portfolio as of September 30, 2025 ($ in thousands).

Weighted Average Fair ValueCPR (1)CouponLife (Years) (2)Agency RMBS Interest Only$16,546 9.1 %4.56 %5.35

(1)Represents the weighted average monthly CPRs published during the period for our in-place portfolio.

(2)Weighted average life is based on projected life. Typically, actual maturities are shorter than stated contractual maturities. .

Financing activities

Financing Arrangements 

We use leverage to finance the purchase of our investment portfolio. Our leverage has primarily been in the form of repurchase agreements and similar financing arrangements (which we refer to collectively as financing arrangements). 

Repurchase agreements involve the sale and a simultaneous