Company: MITN
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001514281-25-000086
Chunk: 137

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 137
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 operations for the three and six months ended June 30, 2025 and 2024 (in thousands).Three Months EndedSix Months EndedJune 30, 2025June 30, 2024June 30, 2025June 30, 2024Non-QM Securities$268 $(828)$197 $1,377 Re/Non-Performing Securities— 211 (120)316 AG Arc (1)(37)1,528 1,339 1,255 Equity in earnings/(loss) from affiliates$231 $911 $1,416 $2,948 (1)Earnings/(loss) recognized by AG Arc do not include the Company's portion of gains or losses recorded by Arc Home in connection with the sale of residential mortgage loans to the Company. Refer to "Transactions with Arc Home" below for more information on this accounting policy. Transactions with affiliates Transactions with Red Creek Asset Management LLC In connection with the Company’s investments in residential mortgage loans, the Company engages asset managers to provide advisory, consultation, asset management, and other services. The Company engaged Red Creek Asset Management LLC (the "Asset Manager"), a related party of the Manager and direct subsidiary of TPG Angelo Gordon, as the asset manager for certain of its residential mortgage loans. The Company pays the Asset Manager asset management fees which are assessed periodically by a third-party valuation firm. The below details the fees paid by the Company to the Asset Manager during the three and six months ended June 30, 2025 and 2024 (in thousands).Three Months EndedSix Months EndedJune 30, 2025June 30, 2024June 30, 2025June 30, 2024Fees paid to Asset Manager$533 $667 $1,173 $1,325 As of June 30, 2025 and December 31, 2024, the Company recorded asset management fees payable of $0.2 million and $0.2 million, respectively. Asset management fees payable are included within the "Due to affiliates" line item within the "Other liabilities" line item on the consolidated balance sheets. Transactions with Arc HomeArc Home may sell loans to the Company, third-parties, or affiliates of the Manager. The below table details the unpaid principal balance of residential mortgage loans sold to the Company during the three and six months ended June 30, 2025 and 2024