Company: CIMO
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023813
Chunk: 77

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 77
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 financing. The Company evaluated its interest in each VIE to determine if it is the primary beneficiary.During the quarter ended March 31, 2025, the Company consolidated approximately $934 million unpaid principal balance of seasoned reperforming residential mortgage loans. During the quarter ended March 31, 2024, the Company did not securitize any residential mortgage loans.VIEs for Which the Company is the Primary BeneficiaryThe retained beneficial interests in VIEs for which the Company is the primary beneficiary are typically the subordinated tranches of these securitizations and in some cases the Company may hold interests in additional tranches. The table below reflects the assets and liabilities recorded in the Consolidated Statements of Financial Condition related to the consolidated VIEs as of March 31, 2025 and December 31, 2024.

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 March 31, 2025December 31, 2024 (dollars in thousands)Assets:  Non-Agency RMBS, at fair value (1)$224,670 $229,343 Loans held for investment, at fair value9,832,227 9,671,731 Accrued interest receivable49,962 50,305 Other assets23,435 18,715 Total Assets:$10,130,294 $9,970,094 Liabilities:  Securitized debt, collateralized by Non-Agency RMBS$69,990 $71,247 Securitized debt at fair value, collateralized by Loans held for investment6,895,501 6,671,471 Accrued interest payable23,340 21,803 Other liabilities1,541 1,984 Total Liabilities:$6,990,372 $6,766,505 (1) March 31, 2025 and December 31, 2024 balances includes allowance for credit losses of $11 million and $10 million, respectively.Income and expense amounts related to consolidated VIEs recorded in the Consolidated Statements of Operations is presented in the tables below. For the Quarters Ended March 31, 2025March 31, 2024December 31, 2024 (dollars in thousands)Interest income, Assets of consolidated VIEs$144,402 $146,917 $142,921 Interest expense, Non-recourse liabilities of VIEs69,651