Company: AOMN
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001766478-25-000019
Chunk: 213

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 8
Chunk 213
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31, 2024 and December 31, 2023:December 31, 2024December 31, 2023($ in thousands)Investments in Majority-Owned Affiliates$20,680 $16,232 Commercial Mortgage Loans, at fair value5,214 5,219 CMBS, at fair value5,593 6,592 Deferred tax asset3,457 3,457 Prepaid expenses1,095 1,137 Protective advances and other assets879285Total other assets$36,918 $32,922 Investments in Majority-Owned Affiliates (“MOA”)In 2023 and 2024, the Company participated in securitization transactions which involved MOAs in which the Company received investments in each case proportional to its share of the scheduled unpaid principal balance of the residential whole loans contributed to the securitizations. The purpose of the MOAs is to retain and hold risk retention bonds issued by the securitization trust. Each MOA is a limited liability company and is accounted for as an equity method investment and held at amortized cost. The investment will be tested for impairment at least annually utilizing undiscounted cash flows of the underlying bonds. See Note 10 — Fair Value Measurements.Commercial Mortgage LoansCommercial mortgage loans are measured at fair value. As of December 31, 2024 and December 31, 2023, the cost and unpaid principal balance of the assets was $5.6 million and $5.6 million, with a fair value of $5.2 million and $5.2 million, respectively. The weighted average interest rate was 6.24% with a weighted average maturity of 11 years, as of December 31, 2024. There were no commercial mortgage loans more than 90 days past due or in foreclosure as of December 31, 2024 or December 31, 2023.Commercial Mortgage Backed SecuritiesCMBS are held at fair value. As of December 31, 2024 and December 31, 2023, the cost of these assets were $6.1 million and $6.3 million, with a fair value of $5.6 million and $6.6 million, respectively. There was no repurchased debt held against these assets at December 31, 2024 or December 31, 2023.

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16.     Stock