Company: MITN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001514281-25-000062
Chunk: 79

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 79
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, 2024 (in thousands).March 31, 2025December 31, 2024AssetsLiabilitiesEquityAssetsLiabilitiesEquityNon-QM Securities (1)$12,362 $— $12,362 $13,304 $— $13,304 Re/Non-Performing Securities717 — 717 2,462 (588)1,874 Total Residential Investments13,079 — 13,079 15,766 (588)15,178 AG Arc, at fair value32,242 — 32,242 30,778 — 30,778 Cash and Other assets/(liabilities)721 (26)695 910 (25)885 Investments in debt and equity of affiliates$46,042 $(26)$46,016 $47,454 $(613)$46,841 (1)MATH, through its wholly owned subsidiary MATT, only holds risk-retention tranches from past securitizations which continue to pay down and the Company does not expect MATT to acquire additional investments. The below table reconciles the net income/(loss) to the "Equity in earnings/(loss) from affiliates" line item on the Company's consolidated statements of operations for the three months ended March 31, 2025 and 2024 (in thousands).Three Months EndedMarch 31, 2025March 31, 2024Non-QM Securities$(71)$2,205 Re/Non-Performing Securities(120)105 AG Arc (1)1,376 (273)Equity in earnings/(loss) from affiliates$1,185 $2,037 (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