Company: MITN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001514281-25-000062
Chunk: 161

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 161
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 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 classes of mortgage pass-through certificates backed by the cash flows from the underlying residential mortgage loans (the "Certificates"). As the sponsor of the securitization, the Company retains certain Certificates issued by the securitization trusts in order to satisfy risk retention rules, which generally require the sponsor to retain at least 5% of the fair value of the Certificates issued in the securitization. The Company's continuing involvement in these securitization trusts represents its retained Certificates and the ability to purchase all of the outstanding Certificates upon the occurrence of certain events through an optional redemption right held by the Company. The Company has also engaged a related party of the Manager and direct subsidiary of TPG Angelo Gordon to act as the servicing administrator of certain securitization trusts. 

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

The following table details certain information related to the assets and liabilities of the Non-Agency VIEs as of March 31, 2025 and December 31, 2024 ($ in thousands).March 31, 2025December 31, 2024Carrying ValueWeighted AverageCarrying ValueWeighted AverageYield (1)Life (Years) (2)Yield (1)Life (Years) (2)AssetsSecuritized residential mortgage loans, at fair value (3)$6,399,066 5.68 %7.94$6,044,597 5.68 %8.12Other assets35,021 30,922 Total Assets$6,434,087 $6,075,519 LiabilitiesSecuritized debt, at fair value (3) (4)$5,736,457 5.21 %6.06$5,391,413 5.17 %6.05Other liabilities23