Chimera Investment Corp. reports news about its business as an internally managed real estate investment trust focused on residential real estate assets and mortgage credit. The company invests in, originates, and manages mortgage assets including residential mortgage loans, Non-Agency RMBS, Agency RMBS, Agency CMBS, mortgage servicing rights, RTLs, investor loans, junior liens, HELOCs, equity appreciation rights, and reverse mortgages.
Recurring updates cover quarterly and annual earnings, earnings available for distribution, book-value measures, portfolio positioning, and dividend actions for common and preferred stock. News also reflects Chimera's operating platforms, including Palisades Advisory Services for asset management and HomeXpress Mortgage Corp. for non-QM, QM, consumer, and investor mortgage loan originations.
Chimera Investment (NYSE:CIM) reported a GAAP net income of $0.45 per diluted common share and earnings available for distribution of $0.12 per diluted common share for the first quarter of 2024. The company's GAAP book value increased to $7.11 per common share, reflecting an economic return of 7%. Chimera acquired $50 million in new issue mortgage securitizations and settled on $78 million of residential transition loans in the period. The company is a real estate investment trust primarily investing in mortgage assets.
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