Company: MITN
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001514281-25-000086
Chunk: 16

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 16
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 30, 2025, the earnings/(loss) generated from our investment in MATT Non-QM Securities consisted of interest income of $0.7 million, net unrealized losses of $(0.3) million, and expenses of $(0.1) million. For the three months ended June 30, 2024, the earnings/(loss) generated from our investment in MATT Non-QM Securities consisted of interest income of $0.8 million and net unrealized losses of $(1.6) million.

(2)Refer to the table below for additional detail on the earnings/(loss) generated from our investment in AG Arc. 

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The below table further disaggregates our "Equity in earnings/(loss) from affiliates" line item on our consolidated statements of operations (in thousands).

Three Months EndedJune 30, 2025June 30, 2024Net Interest IncomeInterest income$642 $1,050 Interest expense— 72 Total Net Interest Income642 978 Other Income/(Loss)Net unrealized gain/(loss)(318)(1,548)AG Arc Earnings/(Loss)After-tax earnings/(loss) at AG Arc (1)(37)278 Net unrealized gain/(loss) on investment in AG Arc (2)— 1,655 Elimination of gains on loans sold to MITT (3)— (405)Total AG Arc Earnings/(Loss)(37)1,528 ExpensesOther operating expenses56 47 Equity in earnings/(loss) from affiliates$231 $911 

(1)The earnings/(loss) at AG Arc during the three months ended June 30, 2025 were primarily the result of changes in the fair value of the MSR portfolio held by Arc Home. The earnings/(loss) at AG Arc during the three months ended June 30, 2024 were primarily the result of $0.6 million related to changes in the fair value of the MSR portfolio held by Arc Home, offset by $(0.3) million of losses related to Arc Home's lending and servicing operations.

(2)As of June 30, 2025, the fair value of our investment in Arc Home was calculated using a valuation multiple of 1.00x of book value, which was consistent with the valuation multiple as of March 31, 2025. As of June 30, 2024, the fair value of our investment in Arc Home was calculated