Company: MITN
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050624
Chunk: 16

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 16
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 earnings was 44.6%. 

52

The below table breaks out the components in the "Equity in earnings/(loss) from affiliates" line item on our consolidated statements of operations (in thousands).

Three Months EndedSeptember 30, 2025September 30, 2024Interest income$594 $924 Interest expense— 72 Total Net Interest Income (1)594 852 Net unrealized gain/(loss) (1,156)(1,883)Other operating expenses (1)36 33 Total MATT Non-QM Securities and Re/Non Performing Securities (2)(598)(1,064)Net operating income/(loss) from AG Arc (1) (3)1,204 (154)Other income/(loss) from AG Arc (3)(118)(32)Unrealized gain/(loss) on investment in AG Arc (4)1,251 760 Elimination of gains on loans sold from AG Arc to MITT (1) (5)(94)(359)Total AG Arc Earnings/(Loss)2,243 215 Equity in earnings/(loss) from affiliates$1,645 $(849)

(1)Represents items included in Earnings Available for Distribution. Refer to the “Earnings Available for Distribution” section below for further detail.

(2)Primarily represents earnings from our investment in MATT Non-QM Securities. 

(3)Net operating income/(loss) from AG Arc represents income/(loss) related to Arc Home's lending and servicing operations, net of operating expenses and related current tax expense or benefit. Other income/(loss) from AG Arc represents realized and unrealized changes in the fair value of Arc Home's mortgage servicing rights, transaction related expenses, and other asset impairments, net of related tax expense or benefit.

(4)As of September 30, 2025, the fair value of our investment in Arc Home was calculated using a valuation multiple of 1.025x of book value, which increased from 1.00x of book value as of June 30, 2025. As of September 30, 2024, the fair value of our investment in Arc Home was calculated using a valuation multiple of 0.95x of book value which increased from 0.94x of book value as of June 30, 2024.

(5)The earnings recognized by AG Arc do not include our portion of gains recorded by Arc Home in connection