Cherry Hill Mortgage Investment Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Cherry Hill Mortgage Investment Corp filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

Cherry Hill Mortgage Investment Corp (CHMI-PA) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. Filed a 10-Q report for the quarterly period ended March 31, 2024. Company's principal business is real estate investment trusts. Incorporated in Maryland with fiscal year ending December 31. Business address located in Farmingdale, NJ. Report filed on May 6, 2024.

Why It Matters

For investors and stakeholders tracking Cherry Hill Mortgage Investment Corp, this filing contains several important signals. This filing provides an update on the company's financial performance and position for the first quarter of 2024. Investors can use this report to assess the company's operational status and any changes in its real estate investment trust activities.

Risk Assessment

Risk Level: low — Cherry Hill Mortgage Investment Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate indicators of significant financial distress or unusual events.

Analyst Insight

Monitor future filings for detailed financial performance and strategic updates from Cherry Hill Mortgage Investment Corp.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-06 — Filing Date (Filed as of date)
• 1231 — Fiscal Year End (Fiscal year end)
• 6798 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Cherry Hill Mortgage Investment Corp (company) — Filer name
• 10-Q (document) — Form type
• 2024-03-31 (date) — Conformed period of report
• 2024-05-06 (date) — Filed as of date
• 6798 (industry_code) — Standard Industrial Classification
• MD (state) — State of incorporation
• NJ (state) — Business address state
• 001-36099 (filing_id) — SEC file number

FAQ

Industry Context

Cherry Hill Mortgage Investment Corp operates within the Real Estate Investment Trusts (REITs) sector, focusing on mortgage-related assets.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze the company's performance metrics and compare them to industry benchmarks.
3. Track any disclosures related to mortgage servicing rights or investment portfolio changes.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-06: Filing Date — Date the 10-Q report was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and position for the most recent fiscal quarter.)

REIT

Real Estate Investment Trust, a company that owns, operates, or finances income-generating real estate. (Indicates the company's primary business sector and investment strategy.)

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending March 31, 2024. Previous filings would need to be compared for trend analysis.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share CHMI New York S

Filing Documents

• ef20026283_10q.htm (10-Q) — 3192KB
• ef20026283_ex31-1.htm (EX-31.1) — 13KB
• ef20026283_ex31-2.htm (EX-31.2) — 13KB
• ef20026283_ex32-1.htm (EX-32.1) — 6KB
• ef20026283_ex32-2.htm (EX-32.2) — 5KB
• 0001140361-24-024544.txt (&nbsp;) — 14147KB
• chmi-20240331.xsd (EX-101.SCH) — 77KB
• chmi-20240331_cal.xml (EX-101.CAL) — 96KB
• chmi-20240331_def.xml (EX-101.DEF) — 396KB
• chmi-20240331_lab.xml (EX-101.LAB) — 971KB
• chmi-20240331_pre.xml (EX-101.PRE) — 565KB
• ef20026283_10q_htm.xml (XML) — 3158KB

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 10 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 44 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 65 Item 4.

Controls and Procedures

Controls and Procedures 69 PART II. OTHER INFORMATION 70 Item 1.

Legal Proceedings

Legal Proceedings 70 Item 1A.

Risk Factors

Risk Factors 70 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 70 Item 3. Defaults Upon Senior Securities 70 Item 4. Mine Safety Disclosures 70 Item 5. Other Information 70 Item 6. Exhibits 71 Table of Contents GLOSSARY This glossary defines some, but not all, of the terms that we use elsewhere in this Quarterly Report on Form 10-Q. In this Quarterly Report on Form 10-Q, unless specifically stated otherwise or the context otherwise indicates, references to "we", "us", "our", the "Company" or "CHMI" refer to Cherry Hill Mortgage Investment Corporation, a Maryland corporation, together with its consolidated subsidiaries; references to the "Manager" refer to Cherry Hill Mortgage Management, LLC, a Delaware limited liability company; and references to the "Operating Partnership" refer to Cherry Hill Operating Partnership, LP, a Delaware limited partnership. "Agency" means a U.S. Government agency, such as Ginnie Mae, or a GSE. "Agency RMBS" means RMBS issued by an Agency or for which an Agency guarantees payments of principal and interest on the securities. "ASC" means an Accounting Standards Codification. "ASU" means the Accounting Standards Update issued by the FASB. "ARM" means an adjustable-rate residential mortgage loan. "CFTC " means the U.S. Commodity Futures Trading Commission. "CMO" means a collateralized mortgage obligation. CMOs are either loss share securities issued by a GSE or structured debt instruments representing interests in specified pools of mortgage loans subdivided into multiple classes, or tranches, of securities, with each tranche having different maturities or risk profiles. "Code" means the Internal Revenue Code of 1986, as amended. "credit enhancement" means techniques to improve the credit ratings of securities, including overcollateralization, creating retained spread, creating subordinated tranches and insurance. "Excess MSR" means an interest in an MSR, representing a portion of the

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements March 31, 2024 (Unaudited) Note 1 — Organization and Operations Cherry Hill Mortgage Investment Corporation (together with its consolidated subsidiaries, the "Company") was incorporated in Maryland on October 31, 2012 and was organized to invest in residential mortgage assets in the United States. Under the Company's charter, the Company is authorized to issue up to 500,000,000 shares of common stock and 100,000,000 shares of preferred stock, each with a par value of $ 0.01 per share. The accompanying consolidated financial statements include the accounts of the Company's subsidiaries, Cherry Hill Operating Partnership, LP (the "Operating Partnership"), CHMI Sub-REIT, Inc. (the "Sub-REIT"), Cherry Hill QRS I, LLC, Cherry Hill QRS II, LLC, Cherry Hill QRS III, LLC ("QRS III"), Cherry Hill QRS IV, LLC ("QRS IV"), Cherry Hill QRS V, LLC ("QRS V"), CHMI Solutions, Inc. ("CHMI Solutions") and Aurora Financial Group, Inc. ("Aurora"). The Company is party to a management agreement (the "Management Agreement") with Cherry Hill Mortgage Management, LLC (the "Manager"), a Delaware limited liability company established by Mr. Stanley Middleman. The Manager is a party to a services agreement (the "Services Agreement") with Freedom Mortgage Corporation ("Freedom Mortgage") (in such capacity, the "Services Provider"), which is owned and controlled by Mr. Middleman. Prior to April 18, 2024, the Manager was owned by a "blind trust" for the benefit of Mr. Middlem an. On April 18, 2024, ownership of the Manager was transferred to Mr. Middleman. For a further discussion of the Management Agreement, see Note 7. The Company has elected to be taxed as a REIT for U.S. federal income tax purposes, commencing with its short taxable year ended December 31, 2013. As long as the Company continues to comply with a number of requirements under federal tax law and maintains its qualification as a REIT, the Company generally will not be subject t

View Full Filing

View this 10-Q filing on SEC EDGAR