Company: AOMN
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001766478-25-000019
Chunk: 147

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 7
Chunk 147
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:

Portfolio RangePortfolio Weighted Average($ in thousands)UPB$239 - $3,161$1,118Interest rate5.50% - 8.38%6.24%Loan term26.25 - 28.08 years27.61 yearsLTV at loan origination50.00% - 75.00%58.10%

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The following charts illustrate the geographic location of the commercial mortgage loans in our portfolio that we owned directly as of December 31, 2024 and December 31, 2023 (percentages are based on the aggregate unpaid principal balance of such loans):

Geographic Diversification of Our Commercial Mortgage Loans as of December 31, 2024:

Geographic Diversification of Our Commercial Mortgage Loans as of December 31, 2023:

Numbers presented may not sum to 100% due to rounding.

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CMBS

In November 2020, we participated in a securitization transaction of a pool of small balance commercial mortgage loans consisting of mortgage loans secured by commercial properties pursuant to which we contributed to AOMT 2020-SBC1 commercial mortgage loans with a carrying value of approximately $31.2 million that we had accumulated and held on our balance sheet, and we received bonds from AOMT 2020-SBC1 with a fair value of approximately $8.9 million.

Certain information regarding the commercial mortgage loans underlying our portfolio of CMBS issued in the AOMT 2020-SBC1 securitization transaction is shown below as of December 31, 2024 and December 31, 2023:

December 31, 2024December 31, 2023($ in thousands)UPB of loans$101,686$112,302Number of loans129145Weighted average loan coupon8.1 %7.5 %Average loan amount$788$774Weighted average LTV at loan origination and deal date56.2 %56.2 %

The following table provides certain information with respect to the CMBS we received in connection with the AOMT 2020-SBC1 securitization transactions as of December 31, 2024 and December 31, 2023:

December 31, 2024December 31, 2023CMBSRepurchase DebtAllocated CapitalCMBSRepurchase DebtAllocated Capital(in thousands)Senior$— $— $— $— $—