Company: CHMI-PB
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001140361-25-017536
Chunk: 19

Company: Cherry Hill Mortgage Investment Corp
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 2
Chunk 19
---
 Months Ended
                  December 31, 2024

                  Accumulated other comprehensive income, September 30, 2024

                  $

                  3,525

                  Other comprehensive loss

                  (10,795

                  )

                  Accumulated other comprehensive loss, December 31, 2024

                  $

                  (7,270

                  )

                  Three Months Ended
                  March 31, 2024

                  Accumulated other comprehensive loss, December 31, 2023

                  $

                  (2,545

                  )

                  Other comprehensive loss

                  (6,596

                  )

                  Accumulated other comprehensive loss, March 31, 2024

                  $

                  (9,141

                  )

          Our GAAP equity changes as the values of our RMBS are marked to market each quarter, among other factors. The primary causes of mark to market changes are changes in
            interest rates and nominal spreads. During the three-month period ended March 31, 2025, a drop in interest rates caused a net unrealized gain on our available-for-sale RMBS. During the three-month periods ended December 31, 2024 and March 31,
            2024, a rise in interest rates caused a net unrealized loss on our available-for-sale RMBS. Unrealized gain (loss) on available-for-sale RMBS is recorded in accumulated other comprehensive income (loss).

            59

              Non-GAAP Financial Measures

              This Management’s Discussion and Analysis of Financial Condition and Results of Operations section contains analysis and discussion of non-GAAP financial measures, including:

    •

                      earnings available for distribution; and

    •

                      earnings available for distribution per average common share.

            Earnings available for distribution (“EAD”) is a non-GAAP financial measure that we define as GAAP net income (loss), excluding realized gain (loss) on RMBS, unrealized gain
              (loss) on RMBS measured at fair value through earnings, realized and unrealized gain (loss) on derivatives, realized gain (loss) on acquired assets, realized and unrealized gain (loss) on investments in MSRs (net of any estimated MSR
              amortization) and any tax expense (benefit) on realized and unrealized gain (loss) on MSRs. MSR amortization refers to the portion of the change in fair value of the MSR that is primarily due to the realization of cashflows, runoff resulting
              from prepayments and an adjustment for