Company: MITN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001514281-25-000062
Chunk: 113

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 113
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 "Securitized debt" on the consolidated balance sheets in accordance with U.S. GAAP. However, as noted above, our equity at risk represents certain Certificates from each securitization which we retain.

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The 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 March 31, 2025 (in thousands).

Unpaid Principal BalanceFair ValueSecuritized residential mortgage loans in Non-Agency VIEs$6,630,833 $6,399,066 Securitized debt in Non-Agency VIEs (1)6,013,277 5,736,457 Other assets (2)N/A3,688 Retained Certificates from Non-Agency VIEs (3)(4)(5)(6)$666,297 Retained interests in Non-Agency VIEsCurrent FaceFair ValueSenior Bonds$88,162 $89,578 Mezzanine Bonds23,348 22,113 Subordinate Bonds508,822 377,488 Interest Only / Excess Servicing Bonds (1)(7)N/A177,118 Retained Certificates from Non-Agency VIEs (3)(4)(5)(6)$666,297 Financing arrangements on retained Certificates from Non-Agency VIEs393,359 Retained Certificates from Non-Agency VIEs, net of financing arrangements$272,938 

(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 $1.8 billion and $12.1 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 $3.7 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