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Cherry Hill Mortgage Investment Corporation (CHMI+1.01%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024. The report is available for review filing.
The filing includes financial statements for the year, showing total income of $34.6 million compared to a loss of $21.2 million in the previous year. The increase in income is attributed to a reduction in realized losses on RMBS and a decrease in unrealized losses on investments in Servicing Related Assets.
Interest income for the year was $55.8 million, up from $50.0 million in the previous year, primarily due to purchases of new securities and replacing lower yielding securities with higher yielding ones.
Interest expense increased to $55.7 million from $51.6 million, largely due to a rise in repurchase obligations.
Net servicing income decreased to $36.1 million from $42.2 million, primarily due to changes in the size of the MSR portfolio.
The company reported a net income of $12.2 million for the year, compared to a net loss of $35.5 million in the previous year. After preferred dividends, net income attributable to common stockholders was $2.1 million, compared to a loss of $44.6 million in the previous year.
Cherry Hill Mortgage Investment Corporation operates as a fully integrated, internally managed residential real estate finance company, focusing on acquiring, investing in, and managing residential mortgage assets in the United States.
As of December 31, 2024, the company had $1,491.2 million in total assets and $1,257.6 million in total liabilities.
The company declared and paid dividends of $0.60 per share of common stock during the year.
The filing also details various financial agreements, including repurchase agreements and MSR financing facilities, as well as the company's strategy for managing interest rate risk and prepayment risk.
Cherry Hill Mortgage Investment Corporation continues to focus on generating attractive current yields and risk-adjusted total returns for its stockholders over the long term.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Cherry Hill Mortgage Investment Corporation annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.