Company: CIMO
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038345
Chunk: 186

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 186
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, 2025, we incurred transaction expenses of $390 thousand in relation to the HomeXpress Acquisition. During the quarter ended March 31, 2025, we incurred transaction expenses of $6 million due to securitizations. 

Servicing and Asset Manager Fee Expense

Servicing fees and asset manager expenses remained relatively unchanged at $7 million for the quarters ended June 30, 2025 and March 31, 2025, respectively. Servicing fees and asset manager expenses remained relatively unchanged at $15 million for the six months ended June 30, 2025 and June 30, 2024, respectively. These servicing fees are primarily related to the servicing costs of the whole loans held in consolidated securitization vehicles and are paid from interest income earned by the VIEs. Servicing fees generally ranged from 2 to 50 basis points of unpaid principal balances of our consolidated VIEs.

Amortization of intangibles and depreciation expenses

We recognized intangible assets related to investment management agreements and developed technology acquired in the transaction. The long-lived fixed assets are comprised of leasehold improvements, furniture and fixtures, and computers. The fixed assets and intangible assets are depreciated or amortized over their estimated useful lives. We acquired both intangible assets and long-lived fixed assets through the Palisades Acquisition during the fourth quarter of 2024. During the quarters ended June 30, 2025 and March 31, 2025, we recognized amortization of intangible assets and depreciation expense of $949 thousand and $951 thousand. During the six months ended June 30, 2025, we recognized amortization of intangible assets and depreciation expense of $2 million.

 Earnings available for distribution 

Earnings available for distribution is a non-GAAP measure and is defined as GAAP net income excluding (i) unrealized gains or losses on financial instruments carried at fair value with changes in fair value recorded in earnings, (ii) realized gains or losses on the sales of investments, (iii) gains or losses on the extinguishment of debt, (iv) changes in the provision for credit losses, (v) unrealized gains or losses on derivatives, (vi) realized gains or losses on derivatives, (vii) transaction expenses, (viii) stock compensation expenses for retirement eligible awards, (ix) amortization of intangibles and depreciation expenses, (x) non-cash imputed compensation expense related to business acquisitions,