Company: AOMN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001766478-25-000042
Chunk: 11

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 11
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 Company as of March 31, 2025 subsequently matured in April 2025. The following table sets forth a summary of RMBS at cost as of March 31, 2025 and December 31, 2024: March 31, 2025December 31, 2024(in thousands)AOMT RMBS$101,134 $101,801 Whole Pool Agency RMBS$302,619 $201,994 The following table sets forth certain information about the Company’s investments in RMBS at fair value as of March 31, 2025:Real Estate Securities at Fair ValueRepurchase DebtAllocated CapitalMarch 31, 2025:(in thousands)AOMT RMBS (1)Mezzanine$12,879 $(8,205)$4,674 Subordinate73,103 (25,254)47,849 Interest Only/Excess11,228 — 11,228 Retained RMBS in VIEs (2)— (40,444)(40,444)Total AOMT RMBS$97,210 $(73,903)$23,307 Whole Pool Agency RMBS (3)Fannie Mae$126,176 $— $126,176 Freddie Mac174,886 — 174,886 Whole Pool Total Agency RMBS$301,062 $— $301,062 Total RMBS $398,272 $(73,903)$324,369 (1)     AOMT RMBS held as of March 31, 2025 included both retained tranches of AOMT securitizations in which the Company participated and additional AOMT securities purchased in secondary market transactions.(2)    A portion of repurchase debt includes borrowings against retained bonds received from on-balance sheet securitizations (i.e., consolidated VIEs). These bonds, with a fair value of $160.8 million, are not reflected in the consolidated balance sheets, as the Company reflects the assets of the VIE (residential mortgage loans in securitization trusts - at fair value) on its condensed consolidated balance sheets.(3)     The whole pool RMBS presented as of March 31, 2025 were purchased from a broker to whom the Company owes approximately $302.6 million, payable upon the settlement date of the trade. See Note 6 - Due