NEW YORK MORTGAGE TRUST INC. Files 10-K for Fiscal Year Ended December 31, 2023

TL;DR

<b>NEW YORK MORTGAGE TRUST INC. filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

NEW YORK MORTGAGE TRUST INC (ADAMI) filed a Annual Report (10-K) with the SEC on February 23, 2024. Filed a 10-K report for the fiscal year ending December 31, 2023. Company is NEW YORK MORTGAGE TRUST INC. with Central Index Key 0001273685. Incorporated in Maryland, with a fiscal year end of December 31. Business and mailing address is 90 PARK AVENUE, 23RD FLOOR, NEW YORK, NY 10016. Report filed on February 23, 2024.

Why It Matters

For investors and stakeholders tracking NEW YORK MORTGAGE TRUST INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of the company's financial performance, operations, and risk factors for the fiscal year 2023. Investors and analysts can use this report to assess the company's financial health, strategic direction, and potential risks moving forward.

Risk Assessment

Risk Level: medium — NEW YORK MORTGAGE TRUST INC shows moderate risk based on this filing. The company operates in the real estate investment trusts sector, which is subject to market volatility and interest rate fluctuations, as indicated by the nature of its business and the industry it operates in.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand the company's exposure to market risks and its strategies for mitigation.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-02-23 — Filing Date (FILED AS OF DATE)
• 0.25 — Common Stock Par Value Per Share (nymt:CommonStockParValue001PerShareMember)
• 0.6667 — Series A 8.000% Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (nymt:A8000SeriesDFixedToFloatingRateCumulativeRedeemablePreferredStockParValue001PerShare2500LiquidationPreferenceMember)
• 0.25 — Series A 7.875% Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (nymt:A7.875SeriesEFixedtoFloatingRateCumulativeRedeemablePreferredStockParValue0.01pershare25.00LiquidationPreferenceMember)

Key Players & Entities

• NEW YORK MORTGAGE TRUST INC. (company) — CONFORMED NAME
• 0001273685 (company) — CENTRAL INDEX KEY
• 6798 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• MD (company) — STATE OF INCORPORATION
• 90 PARK AVENUE. 23RD FLOOR (company) — BUSINESS ADDRESS STREET 1
• NEW YORK (company) — BUSINESS ADDRESS CITY
• NY (company) — BUSINESS ADDRESS STATE
• 10016 (company) — BUSINESS ADDRESS ZIP

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-23: Filing Date — Date the 10-K report was officially submitted to the SEC.

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 per share NYMT NASDAQ Stock Market 8.0
• $25.00 — erred Stock, par value $0.01 per share, $25.00 Liquidation Preference NYMTN NASDAQ Sto
• $242.0 million — equity carrying value of approximately $242.0 million. In September 2022, we announced that o
• $181.6 million — rios. As of December 31, 2023, we owned $181.6 million of non-Agency RMBS. Single-Family Ren

Filing Documents

• nymt-20231231.htm (10-K) — 6359KB
• exhibit492023.htm (EX-4.9) — 389KB
• exhibit10282023.htm (EX-10.28) — 36KB
• ex211december2023.htm (EX-21.1) — 11KB
• ex2312023.htm (EX-23.1) — 2KB
• ex311december2023.htm (EX-31.1) — 11KB
• ex312december2023.htm (EX-31.2) — 11KB
• ex321december2023.htm (EX-32.1) — 8KB
• exhibit9712023.htm (EX-97.1) — 23KB
• nymt-20231231_g1.jpg (GRAPHIC) — 292KB
• 0001273685-24-000033.txt (&nbsp;) — 29987KB
• nymt-20231231.xsd (EX-101.SCH) — 154KB
• nymt-20231231_cal.xml (EX-101.CAL) — 194KB
• nymt-20231231_def.xml (EX-101.DEF) — 1033KB
• nymt-20231231_lab.xml (EX-101.LAB) — 1516KB
• nymt-20231231_pre.xml (EX-101.PRE) — 1264KB
• nymt-20231231_htm.xml (XML) — 6104KB

, Items 10-14

Part III, Items 10-14 2 NEW YORK MORTGAGE TRUST, INC. FORM 10-K For the Fiscal Year Ended December 31, 2023 TABLE OF CONTENTS PART I

Risk Factors

Item 1A. Risk Factors 17

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 50 Item 1C. C ybersecurity 50

Properties

Item 2. Properties 51

Legal Proceedings

Item 3. Legal Proceedings 51

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 51 PART II

Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 52

[ Reserved ]

Item 6. [ Reserved ] 55

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 56

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 113

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 119

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 120

Controls and Procedures

Item 9A. Controls and Procedures 121

Other Information

Item 9B. Other Information 122

Disclosure Regarding Foreign Jurisdictions t hat Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions t hat Prevent Inspections 122 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 123

Executive Compensation

Item 11. Executive Compensation 123

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 123

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 123

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 123 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 124

Form 10-K Summary

Item 16. Form 10-K Summary 130 Table of Contents PART I

BUSINESS

Item 1. BUSINESS Certain Defined Terms In this Annual Report on Form 10-K we refer to New York Mortgage Trust, Inc., together with its consolidated subsidiaries, as "we," "us," "Company," or "our," unless we specifically state otherwise or the context indicates otherwise, and we refer to our wholly-owned taxable real estate investment trust ("REIT") subsidiaries as "TRSs" and our wholly-owned qualified REIT subsidiaries as "QRSs." In addition, the following defines certain of the commonly used terms in this report: "ABS" refers to debt and/or equity tranches of securitizations backed by various asset classes including, but not limited to, automobiles, aircraft, credit cards, equipment, franchises, recreational vehicles and student loans; "Agency ARMs" refers to Agency RMBS comprised of adjustable-rate and hybrid adjustable-rate RMBS; "Agency fixed-rate RMBS" refers to Agency RMBS comprised of fixed-rate RMBS; "Agency RMBS" refers to RMBS representing interests in or obligations backed by pools of residential loans guaranteed by the Federal National Mortgage Association ("Fannie Mae") or the Federal Home Loan Mortgage Corporation ("Freddie Mac"), or an agency of the U.S. government, such as the Government National Mortgage Association ("Ginnie Mae"); "ARMs" refers to adjustable-rate residential loans; "business purpose loans" refers to (i) short-term loans that are collateralized by residential properties and are made to investors who intend to rehabilitate and sell the residential property for a profit or (ii) loans that finance (or refinance) non-owner occupied residential properties that are rented to one or more tenants; "CDO" refers to collateralized debt obligation and includes debt that permanently finances the residential loans held in Consolidated SLST, the Company's residential loans held in securitization trusts and a non-Agency RMBS re-securitization that we consolidate, or consolidated, in our financial statements in accordance with GAA

View Full Filing

View this 10-K filing on SEC EDGAR