Company: AOMN
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001766478-25-000019
Chunk: 145

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 7
Chunk 145
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).

(2)     The whole pool RMBS presented as of December 31, 2023 were purchased from a broker to whom the Company owed approximately $392 million, payable upon the settlement date of the trade. See Part II, Item 8, Note 7 — Due to Broker in our audited consolidated financial statements included in this Annual Report on Form 10-K.

(3)     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 $124.1 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 consolidated balance sheets.

The following table sets forth information with respect to our RMBS ending balances, at fair value, as of December 31, 2024:

MezzanineSubordinateInterest OnlyWhole PoolTotal(in thousands)Beginning fair value$10,972 $55,665 $13,059 $392,362 $472,058 Acquisitions:Retained bonds received in securitizations2,420 14,757 1,838 — 19,015 Third party securities— — — 938,430 938,430 Effect of principal payments / called deals(1,080)— — (1,125,653)(1,126,733)IO and excess servicing prepayments— — (1,974)— (1,974)Changes in fair value, net423 3,127 (415)(3,688)(553)Ending fair value$12,735 $73,549 $12,508 $201,451 $300,243 

The following table sets forth information with respect to our RMBS ending balances, at fair value, as of December 31, 2023:

MezzanineSubordinateInterest OnlyWhole PoolTotal(in thousands)Beginning fair value$1,958 $49,578 $10,424 $993,378 $1,055,338 Acquisitions:Retained bonds received in securitizations9,831 4,880 3,530 — 18,241 Third party securities— — — 1,741,864 1,741,864 Effect of principal payments