Company: AOMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001766478-25-000099
Chunk: 19

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 19
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urchase in case of adverse price changes. Restricted cash of margin collateral for securities sold under agreements to repurchase was $1.2 million and $1.2 million as of September 30, 2025 and December 31, 2024, respectively.The following table summarizes certain characteristics of the Company’s repurchase agreements as of September 30, 2025 and December 31, 2024:September 30, 2025Repurchase AgreementsAmount OutstandingWeighted Average Interest RateWeighted Average Remaining Maturity (Days)($ in thousands)AOMT RMBS (1)54,041 5.92 %16December 31, 2024Repurchase AgreementsAmount OutstandingWeighted Average Interest RateWeighted Average Remaining Maturity (Days)AOMT RMBS (1)50,555 5.76 %19(1)     A portion of repurchase debt outstanding as of both September 30, 2025 and December 31, 2024 includes borrowings against retained bonds received from on-balance sheet securitizations (i.e., consolidated VIEs). See Note 4 - Investment Securities.

Although the transactions under repurchase agreements represent committed borrowings until maturity, the lenders retain the right to mark the underlying collateral at fair value. A reduction in the value of pledged assets would require the Company to provide additional collateral or fund margin calls. 

6.    Due to Broker

The “Due to broker” account on the condensed consolidated balance sheets as of September 30, 2025 and December 31, 2024, respectively, in the amounts of $153.8 million and $202.0 million relates to the purchase of Whole Pool Agency RMBS at quarter-end in the third and fourth quarters of 2025 and 2024, respectively. Purchases are accounted for on a trade date basis, and, at times, there may be a timing difference between accounting periods for the trade date and the settlement date of a trade. The trade dates of these purchases were prior to the applicable quarter-end dates. These trades settled during October 2025 and January 2025, respectively, at which time these assets were simultaneously sold.The purchase transactions of these Whole Pool Agency RMBS are excluded from the condensed consolidated statements of cash flows until settled as they are noncash transactions.

7.    Derivative Financial Instruments

In the normal course of business, the Company enters into derivative financial instruments to manage its exposure to