Company: CIMO
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001409493-25-000028
Chunk: 119

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 119
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 Loans held for investment are carried at fair value. See Note 5 for a discussion on how the Company determines the fair values of the Loans held for investment. As changes in the fair value of these loans are reflected in earnings, the Company does not estimate or record a loan loss provision. The total amortized cost of the Company's Loans held for investment was $10.3 billion and $11.4 billion as of September 30, 2025 and December 31, 2024, respectively. The total unpaid principal balance of the Company's Loans held for investment was $10.5 billion and $11.7 billion as of September 30, 2025 and December 31, 2024, respectively.The following table provides a summary of the changes in the carrying value of Loans held for investment at fair value at September 30, 2025 and December 31, 2024:For the Nine Months EndedFor the Year EndedSeptember 30, 2025December 31, 2024 (dollars in thousands)Balance, beginning of period$11,196,678 $11,397,046 Purchases47,801 1,062,699 Principal paydowns(1,112,512)(1,309,843)Sales and settlements(57,045)(116,652)Net periodic accretion (amortization)(13,382)(39,236)Change in fair value256,259 202,664 Balance, end of period$10,317,799 $11,196,678 The primary cause of the change in fair value is due to market demand, interest rates and changes in credit risk of mortgage loans. The Company did not retain any beneficial interests on loan sales during the nine months ended September 30, 2025 and the year ended December 31, 2024, respectively.Residential mortgage loansThe loan portfolio for all residential mortgages were originated during the following periods:Origination YearSeptember 30, 2025December 31, 20242002 and prior4.7 %5.0 %20034.3 %4.4 %20047.8 %8.2 %200513.8 %14.1 %200617.8 %18.0 %200720.8 %20.9 %20086.7 %6.8 %20091.7 %