Company: MITN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001514281-25-000062
Chunk: 43

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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14,214 Total$484,814 $495,008 $282,132 $285,298 (1)Fair value represents purchase price at acquisition. 

13

AG Mortgage Investment Trust Inc. and SubsidiariesNotes to Consolidated Financial Statements (Unaudited)March 31, 2025

During the three months ended March 31, 2025, the Company sold residential mortgage loans as detailed below ($ in thousands). The Company did not sell any residential mortgage loans during the three months ended March 31, 2024. Three Months Ended March 31, 2025 Number of LoansProceedsRealized GainsRealized LossesNon-Agency Loans21 $11,336 $341 $(1,152)Re- and Non-Performing Loans88 9,092 832 (1,149)Total109 $20,428 $1,173 $(2,301) The Company’s residential mortgage loan portfolio consists of mortgage loans on residential real estate located throughout the United States. The following is a summary of the geographic concentration of credit risk as of March 31, 2025 and December 31, 2024 and includes states where the exposure is greater than 5% of the fair value of the Company's residential mortgage loan portfolio. Geographic Concentration of Credit Risk (1)March 31, 2025December 31, 2024California34 %35 %New York10 %11 %Florida10 %11 %Texas6 %6 %New Jersey5 %5 %Other35 %32 %(1)Excludes the Re- and Non-Performing Loans subcategory of Residential mortgage loans above as there may be limited data available regarding the underlying collateral of these residual positions.  Variable interest entitiesThe Company entered into securitization transactions collateralized by its Non-Agency Loans/Agency-Eligible Loans and re- and non-performing loans, of which the securitization trusts are considered VIEs. The Company was determined to be the primary beneficiary of the VIEs and, as a result, consolidated the assets and liabilities of the VIEs on its consolidated balance sheets. In a securitization transaction, a pool of loans is transferred to a wholly-owned subsidiary of the Company and the loans are deposited into a newly created securitization trust. The securitization trust issues various