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

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 25
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6.94% - 42.76%16.77%Loss severity(23.04)% - 16.94%(1.96)%Expected remaining life1.33 - 5.92 years2.68 years

10.    Related Party Transactions

Residential Mortgage Loan PurchasesThe Company has residential mortgage loan purchase agreements with various affiliates of the Company. The purchase price of the loans is generally equal to the outstanding principal of the mortgage, adjusted by a premium or discount, depending on market conditions. The Company purchases the mortgage loans on a servicing retained basis. The residential mortgage loans are on residences located in various states with a concentration in California and Florida. The following table sets forth certain financial information pertaining to whole loan activity purchased from affiliates during the period and year ended as of March 31, 2025 and December 31, 2024, respectively:As of and for the Year-to-Date/Year Ended:Amount of Loans Purchased from Affiliates during the Year-to-Date/YearNumber of Loans Purchased from Affiliates during the Year-to-Date/YearNumber of Loans Purchased from Affiliates, Owned and Held as of Year-to-Date/Year End (1):($ in thousands)March 31, 2025$76,697 177 248 December 31, 2024$255,368 558 83 (1)     Excludes loans held in consolidated securitizations.Securitization Transactions and Majority-Owned AffiliateFrom time to time, the Company participates in securitization transactions with other affiliates of Angel Oak Capital. See Note 2 — Variable Interest Entities, “VIEs for Which the Company is Not the Primary Beneficiary” and Note 13 — Other Assets.Management FeeThe Company and the Operating Partnership have entered into an Amended and Restated Management Agreement with the Manager, dated as of May 1, 2024  (the “Management Agreement”). Per the Management Agreement, on a quarterly basis in arrears, the Company shall pay its Manager an aggregate, fixed management fee equal to 1.5% per annum of the Company’s Equity (as defined in the Management Agreement). Incentive FeeUnder the Management Agreement, the Manager is also entitled to an incentive fee, which is calculated and payable in cash with respect to each calendar quarter (or part thereof that the Management Agreement is in effect) in arrears in an amount, not less than zero, equal