Company: AOMN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001766478-25-000042
Chunk: 27

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 27
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(in thousands)AOCI balance, beginning of period$(3,475)$(4,975)Net unrealized gain/(loss) on AFS securities(695)1,703 AOCI balance, end of period$(4,170)$(3,272) 

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Angel Oak Mortgage REIT, Inc.Notes to the Condensed Consolidated Financial Statements(Unaudited)

13.    Other Assets

The following table sets forth the detail of other assets included in the condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024:March 31, 2025December 31, 2024($ in thousands)Investments in Majority-Owned Affiliates$20,828 $20,680 Commercial Mortgage Loans5,207 5,214 CMBS5,757 5,593 Deferred tax asset3,457 3,457 Prepaid expenses819 1,095 Protective advances and other assets873879Total other assets$36,941 $36,918 Investments in Majority-Owned Affiliates (“MOA”)The Company has participated in securitization transactions which involved MOAs in which the Company received investments in each case proportional to its share of the unpaid principal balance of the residential whole loans contributed to the securitizations. The purpose of the MOAs is to retain and hold risk retention bonds issued by the securitization trust. Each MOA is a limited liability company and is accounted for as an equity method investment and held at amortized cost and tested for impairment at least annually utilizing undiscounted cash flows of the underlying bonds. See Note 9 — Fair Value Measurements.Commercial Mortgage LoansCommercial mortgage loans are measured at fair value. As of March 31, 2025 and December 31, 2024, the cost and unpaid principal balance of the assets was $5.6 million and $5.6 million, with a fair value of $5.2 million and $5.2 million, respectively. The weighted average interest rate was 6.23% with a weighted average maturity of 11 years, as of March 31, 2025. There were no commercial mortgage loans more than ninety (90) days past due or in foreclosure as of March 31, 2025 or December 31, 2024.Commercial Mortgage Backed SecuritiesCMBS are held at fair value. As of March 31, 202