Company: MITN
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050624
Chunk: 163

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 163
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 expenses$4,322 $3,411 

Transaction related expenses

Transaction related expenses primarily include expenses associated with purchasing and securitizing residential mortgage loans. During the three months ended September 30, 2025, the expenses primarily consisted of $0.8 million related to refinancing our fixed-rate long-term financing arrangements and $0.9 million related to our acquisition of an additional 21.4% interest in AG Arc. During the three months ended September 30, 2024, transaction related expenses were related to one rated securitization.

Equity in earnings/(loss) from affiliates

Equity in earnings/(loss) from affiliates represents our share of earnings and profits of investments held within affiliated entities. Substantially all of these investments are comprised of real estate securities, loans, and our investment in AG Arc which holds our investment in Arc Home. The below tables summarize the components of the "Equity in earnings/(loss) from affiliates" line item on our consolidated statements of operations (in thousands).

Three Months EndedSeptember 30, 2025September 30, 2024MATT Non-QM Securities$(581)$(1,070)Re/Non-Performing Securities(17)6 AG Arc (1)2,243 215 Equity in earnings/(loss) from affiliates$1,645 $(849)

(1)Effective August 1, 2025, our allocation of AG Arc’s earnings is 66.0%. For all prior periods, our allocation of AG Arc’s earnings was 44.6%. 

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The below table breaks out the components in the "Equity in earnings/(loss) from affiliates" line item on our consolidated statements of operations (in thousands).

Three Months EndedSeptember 30, 2025September 30, 2024Interest income$594 $924 Interest expense— 72 Total Net Interest Income (1)594 852 Net unrealized gain/(loss) (1,156)(1,883)Other operating expenses (1)36 33 Total MATT Non-QM Securities and Re/Non Performing Securities (2)(598)(1,064)Net operating income/(loss) from AG Arc (1) (3)1,204 (154)Other income/(loss) from AG Arc (3)(118)(32)Unrealized gain/(loss) on investment in AG Arc (4)1,251 760 Elimination of gains