Angel Oak Mortgage REIT, Inc 8-K, filed Apr 1, 2022
Angel Oak Mortgage REIT, Inc. (AOMR)
8-K
2022-04-01
For: 2022-03-31
View Original
Added on
April 06, 2026
About this 8-K
Angel Oak Mortgage REIT, Inc filed this 8-K on April 1, 2022, reporting on events of March 31, 2022.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): March 31, 2022
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | |||||||||
(Address of Principal Executive Offices and Zip Code)
Registrant’s telephone number, including area code: (404 ) 953-4900
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Item 7.01. Regulation FD Disclosure.
On March 31, 2022, Angel Oak Mortgage, Inc. (the “Company”) hosted an analyst day at its corporate headquarters in Atlanta, Georgia. The Company is furnishing as Exhibit 99.1 to this Current Report on Form 8-K the presentation materials to be provided to and discussed with attendees at the analyst day.
The information in this Current Report on Form 8-K (including the presentation materials attached as Exhibit 99.1 hereto) is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act. This current report on Form 8-K will not be deemed an admission as to the materiality of any information contained herein (including the presentation materials attached as Exhibit 99.1 hereto).
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: March 31, 2022 | ANGEL OAK MORTGAGE, INC. | ||||||||||
By: /s/ Brandon Filson | |||||||||||
| Name: Brandon Filson | |||||||||||
| Title: Chief Financial Officer and Treasurer | |||||||||||
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Assumptions: Principal Balance of Loans 100$ Market Value of Loans as % of UPB 103% Weighted Average Coupon 5.0% Residential Loan Purchase Leverage Rate 86% Residential Loan Warehouse Financing Cost 3.0% Percentage of Principal Balance Sold in Securitization 95% Securitization Cost of Capital 2.5% Pre-Securitization: Whole Loans Post-Securitization: Loans in Securitization Trust Income Statement: Income Statement: Interest Income 5.0$ Interest Income 5.0$ Interest Expense 2.6$ Interest Expense 2.4$ Net Interest Margin 2.4$ Net Interest Margin 2.6$ Balance Sheet: Balance Sheet: Residential Loans 103.0$ Cash Proceeds from Securitization 9.0$ Notes Payable 86.0$ Residential Loans in Securitization Trust 103.0$ Non-Recourse Securitization Obligation 95.0$ Loans Able to Purchase Using Cash Proceeds from Securitization: 64.3$
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$000s Interest Income / Expense Average Balance Interest Income / Expense Average Balance Interest Income Residential Loans 25,705 544,440 13,013 232,075 Residential Loans in Securitization Trust 7,709 153,158 - - Commercial Loans 641 9,284 1,940 28,979 RMBS 24,221 264,095 25,415 118,174 CMBS 2,266 11,142 295 1,359 Total Interest Income1 60,542 40,663 Interest Expense Notes Payable 8,682 350,919 6,624 189,212 Non-Recourse Securitization Obligation 2,457 141,133 - - Repurchase Facilities 337 209,502 875 136,835 Total Interest Expense 11,476 7,499 Net Interest Margin 49,066 33,164 Net Interest Margin as % of Income 81.0% 81.6% YE 2020YE 2021
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