Company: CIMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006426
Chunk: 246

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1A
Chunk 246
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 respectively.

9. Consolidated Securitization Vehicles and Other Variable Interest Entities

Since its inception, the Company has utilized VIEs for the purpose of securitizing whole mortgage loans or re-securitizing RMBS and obtaining long-term, non-recourse financing. The Company evaluated its interest in each VIE to determine if it is the primary beneficiary.During the year ended December 31, 2024, the Company consolidated approximately $468 million unpaid principal balance of seasoned reperforming residential mortgage loans. During the year ended December 31, 2023, the Company consolidated approximately $2.6 billion, respectively, unpaid principal balance of seasoned reperforming residential mortgage loans. VIEs for Which the Company is the Primary BeneficiaryThe retained beneficial interests in VIEs for which the Company is the primary beneficiary are typically the subordinated tranches of these securitizations and in some cases the Company may hold interests in additional tranches. The table below reflects the assets and liabilities recorded in the Consolidated Statements of Financial Condition related to the consolidated VIEs as of December 31, 2024 and December 31, 2023.

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 December 31, 2024December 31, 2023 (dollars in thousands)Assets:  Non-Agency RMBS, at fair value (1)$229,343 $248,993 Loans held for investment, at fair value9,671,731 10,184,538 Accrued interest receivable50,305 52,712 Other assets18,715 15,597 Total Assets:$9,970,094 $10,501,840 Liabilities:  Securitized debt, collateralized by Non-Agency RMBS$71,247 $75,012 Securitized debt at fair value, collateralized by Loans held for investment6,671,471 7,248,768 Accrued interest payable21,803 23,310 Other liabilities1,984 2,019 Total Liabilities:$6,766,505 $7,349,109 (1) December 31, 2024 and December 31, 2023 balances includes allowance for credit losses of $10 million and $6 million, respectively.Income and expense amounts related to consolidated VIEs recorded in the Consolidated Statements of Operations is presented in the tables below. For the