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YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the time of acquisition or can be contractually prepaid or otherwise settled in such a way that the Company would not recover substantially all of its recorded investment. As of March 31, 2023 and ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ion of interest income 4,685 3,382 Changes in valuation inputs and assumptions (3,135 22,758 Balance at period end 183,058 139,225 Note 7. Investments in SFR Properties Arlington Asset Inve...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. an agreement with a third-party investment advisory firm to identify, acquire and manage investments in SFR properties on behalf of the Company. Under the terms of the agreement, the Company had co...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. firm on April 28, 2023. Upon the termination of the agreement, the Company paid a termination fee equal to a fixed amount less inception to date minimum fees paid to the third-party firm as well as...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. county tax assessment records. Subsequent to the acquisition of a property, expenditures which improved or extended the life of the property were capitalized as a component of the property’s cost b...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. operating expenses” in the Company’s consolidated statements of comprehensive income. Pursuant to its SFR investment strategy, the Company leased its SFR properties to tenants who occupied the prop...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the lease term, consistent with the recognition of rental revenue from the lease. The ratable expense recognition of lease direct costs was reported as a component of “single-family property operat...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. If indicators of potential impairment existed, the Company performed a recoverability test by comparing the property’s net carrying amount to its estimate of the undiscounted future net cash flows ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Company's held for sale evaluation process included whether the following conditions had been met: (i) the Company had committed to a plan to sell a property; (ii) the property was immediately a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. that these factors were all present, the Company ceased depreciating the property, measured the property at the lower of its carrying amount or its fair value less estimated costs to sell, and prese...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ,050 , including the assumption of the debt liability (see Note 9 "Borrowings"), for a gain of $ 1,789 that is net of accrued incentive fees and termination fees to the Company's third-party inves...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Arlington Asset Investment Corp. is determined to be the primary beneficiary of a VIE in which it holds a variable interest if it both (i) holds the power to direct the activities that most signific...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. activities that most significantly impact the trust’s economic performance. As a passive investor, the Company does not have the power to direct the loss mitigation activities of most of the trusts...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. is the party with the most power to direct the loss mitigation activities and, therefore, the economic performance of the trust. As holder of the majority of the first loss position issued by the t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. it with the option (but not the obligation) to purchase delinquent loans from the trust. As a result of this contractual right, the Company determined that it had the power to circumvent the loss mi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. curitized pool of "non-qualified" residential mortgage loans and, as a result, deconsolidated the issuing securitization trust. The carrying values of the assets and liabilities of the consolidated ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. (160 Other liabilities of consolidated VIEs Net investment in consolidated VIEs 3,034 3,034 (1) Restricted cash represents cash collected by the trust that must be used solely to satisfy the li...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 067 Secured debt of consolidated VIEs, at fair value (200 (169,145 (169,345 Other liabilities of consolidated VIEs (1 (261 (262 Net investment in consolidated VIEs 3,820 25,084 28,904 (1...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. IE consists of fixed-rate, short-term, interest-only mortgage loans (with the full amount of principal due at maturity) made to professional real estate investors and are secured by first lien positi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. itization trust. The pool of mortgage loans of the previously consolidated VIE consisted of performing, first lien “non-qualified” residential mortgage loans. “Non-qualified” residential mortgage lo...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Qualified mortgage loans have limited upfront fees and points and, generally, cannot have prepayment penalties except for limited circumstances. Lenders of qualified mortgage loans are afforded cert...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. by GAAP, whereby the premium or discount recognized at the initial recognition of each loan is amortized or accreted as an adjustment to contractual interest income accrued at the loan’s contractual...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . The following table presents information about the accrual status of the loans of the Company’s consolidated VIE of business purpose residential mortgage loans as of March 31, 2023: Aggregate Fai...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. counterparty under a master repurchase agreement in exchange for cash and concurrently agrees to repurchase the same asset at a future date in an amount equal to the cash initially exchanged plus an...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. expense ratably over the term of the repurchase arrangement. Amounts borrowed pursuant to repurchase agreements are equal in value to a specified percentage of the fair value of the pledged collate...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. October 23, 2023 and an interest rate that resets monthly at a rate equal to SOFR plus 2.61% Under the terms of the Company’s mortgage loan repurchase agreement, the Company may request extensio...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. financing: Repurchase agreements outstanding 385,923 406,072 Agency MBS collateral, at fair value 413,190 425,023 Net amount (1) 27,267 18,951 Weighted-average rate 4.94 4.47 Weighted-a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 0 days Mortgage loans repurchase financing: Repurchase agreements outstanding 19,053 20,485 Mortgage loans collateral, at fair value 27,798 29,264 Net amount (1) 8,745 8,779 Weighted-avera...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. maturity 21.7 days 22.2 days (1) Net amount represents the value of collateral in excess of corresponding repurchase obligation. The amount of collateral at-risk is limited to the outstanding re...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 3 and December 31, 2022 , the Company had $ 86,508 and $ 86,405 , respectively, of outstanding long-term unsecured debentures, net of unamortized debt issuance costs of $ 1,173 and $ 1,276 ,...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 37,750 15,000 Annual   Interest Rate 6.75 6.000 LIBOR+2.25 - 3.00 % 6.75 6.000 LIBOR+2.25 - 3.00 % Interest   Payment   Frequency Quarterly Quarterly Quarterly Quarterly Quarterly Quar...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 6 2033 - 2035 The Senior Notes due 2025 and the Senior Notes due 2026 are publicly traded on the New York Stock Exchange under the ticker symbols “AIC” and “AAIN,” respectively. The Senior Notes du...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. contains certain covenants, including limitations on the Company’s ability to merge or consolidate with other entities or sell or otherwise dispose of all or substantially all of the Company’s asset...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. available to be drawn up to 74 % of the fair value of eligible SFR properties up to a maximum loan amount of $ 150,000 . Advances under the loan agreement were able to be drawn during the advan...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. course of its operations, the Company is a party to financial instruments that are accounted for as derivative instruments. Derivative instruments are recorded at fair value as either “other assets”...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 15 Company’s short-term financing arrangements. Interest rate hedging instruments may include centrally cleared interest rate swaps, exchange-traded instruments, such as U.S. Treasury note futures, ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. addition, the CME requires market participants to deposit and maintain an “initial margin” amount which is determined by the CME and is generally intended to be set at a level sufficient to protect ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Company accounts for the daily receipt or payment of variation margin associated with its interest rate swaps and futures as a direct reduction to the carrying value of the derivative asset or l...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to purchase fixed-rate “pass-through” agency MBS on a non-specified pool basis, which are known as to-be-announced (“TBA”) securities. A TBA security is a forward commitment for the purchase or sale...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. will result in physical delivery of the underlying agency MBS, or the individual TBA commitment will not settle in the shortest time period possible. Arlington Asset Investment Corp.’s agency MBS i...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. forward purchase of a TBA agency MBS of the same characteristics for a later settlement date. TBA securities purchased for a forward settlement month are generally priced at a discount relative to T...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. securities are accounted for as derivative instruments in the Company’s financial statements. Accordingly, dollar roll income is recognized as a component of “investment and derivative gain (loss), ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. regular-way security trades. Such commitments are also accounted for as derivative instruments. Under the terms of commitments to purchase or sell TBAs or specified agency MBS, the daily exchange o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. The following table presents the fair value of the Company’s derivative instruments as of the dates indicated: March 31, 2023 December 31, 2022 Assets Liabilities Assets Liabilities Interest...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Company’s interest rate swap agreements that were in effect as of March 31, 2023: Weighted-average: Notional Amount Fixed Receive (Pay) Rate Variable (Pay) Receive Rate Net (Pay) Receive Ra...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. about the Company’s interest rate swap agreements that were in effect as of December 31, 2022: Weighted-average: Notional Amount Fixed Receive (Pay) Rate Variable (Pay) Receive Rate Net (Pay) R...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ,000 (61,009 (62,725 (1,716 4.0% 30-year MBS purchase commitments 50,000 47,957 47,781 (176 4.0% 30-year MBS sale commitments (140,000 (130,665 (133,788 (3,123 4.5% 30-year MBS sale com...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ment Contractual Forward Price Market Price Fair Value 3.0% 30-year MBS sale commitments (70,000 (62,828 (61,516 1,312 4.0% 30-year MBS sale commitments (150,000 (142,255 (140,830 1,425 ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. indicated: Three Months Ended March 31, 2023 2022 Interest rate derivatives: Interest rate swaps: Net interest expense (1) (118 (291 Unrealized gains, net 792 3,466 Gains realized upon e...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Total losses on TBA commitments, net (6,469 (3,883 Total derivative (losses) gains, net (5,410 1,667 (1) Represents the periodic net interest settlement incurred during the period (often refer...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of the sale (purchase) and ending on the settlement date of the forward-settling purchase (sale) Derivative Instrument Activity The following tables summarize the volume of activity, in terms of n...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. s EarlyTerminations End of Period Interest rate swaps 150,000 70,000 (45,000 175,000 10-year U.S. Treasury note futures 25,000 50,000 (50,000 (25,000 Purchased call options on 10-year U....
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. balance sheets, for the dates indicated: March 31, 2023 December 31, 2022 Cash collateral posted for: Interest rate swaps (cash initial margin) 1,690 1,823 TBA commitments, net 9,481 Total ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. initial margin posted in respect of interest rate derivative instruments are included in the line item “deposits” in the accompanying consolidated balance sheets. The daily exchange of variation ma...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in fair value that occurred on the last day of the reporting period. The following tables present information, as of the dates indicated, about the Company’s derivative instruments, short-term borr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 140 (34 106 Total assets 140 140 (34 106 Liabilities: Derivative instruments: Interest rate swaps 11 11 (11 TBA commitments 10,637 10,637 (23 (9,481 1,133 Total derivative instr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Net AmountPresented in theConsolidatedBalance Sheets Gross Amount Not Offset in theConsolidated Balance Sheets NetAmount FinancialInstruments (1) CashCollateral (2) Assets: Derivative instrumen...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ,532 515,532 (515,532 (1) Does not include the fair value amount of financial instrument collateral pledged in respect of repurchase agreements that exceeds the associated liability presented in ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels, giving the highest priority to quoted prices in active markets for identical assets or liabili...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and liabilities: Investments in Financial Assets Agency MBS – Arlington Asset Investment Corp.’s investments in agency MBS are classified within Level 2 of the fair value hierarchy. Inputs to fair...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. third-party fair value estimates and performs procedures to validate their reasonableness, including comparison to recent trading activity for similar securities and an overall review for consistenc...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to validate their reasonableness, including comparisons to recent trading activity observed for similar securities as well as an internally derived discounted future cash flow measurement. Arlingto...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the future performance of the pool of business purpose residential mortgage loans that serve as collateral, including loan-level probabilities of default and loss-given-default. As of March 31, 202...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the significant inputs to the fair value measurement of the Company’s non-agency MBS secured by business purpose residential mortgage loans as of dates indicated: March 31, 2023 December 31, 2022 ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. often unobservable as ABS collateralized by residential solar panel loans trade infrequently. Arlington Asset Investment Corp. reviews the fair value estimates obtained from dealers and performs pro...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. discount rate, which is based on current market yields and interest rate spreads for a similar loan. As of March 31, 2023 , the estimated probability of default and discount rate for the Company’s...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. be applied to consolidated “collateralized financing entities,” which are VIEs for which the financial liabilities of the VIE have contractual recourse solely to the financial assets of the VIE. As...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. IE are classified within Level 3 of the fair value hierarchy. To measure the fair value of the business purpose residential mortgage loans of the consolidated VIE as of March 31, 2023 and December 3...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the property for rental purposes and obtain refinancing in the form of a longer-term loan, relatively high delinquency and default rates are common and expected attributes of this asset class. The ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of December 31, 2022, the Company measured the fair value of both the residential mortgage loans and the debt obligations of its consolidated VIE of residential mortgage loans based upon the fair va...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. use a market approach. The inputs used in the fair value measurements performed by third-party pricing sources were based upon observable transactions for securities with similar characteristics. T...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. collected, the Company used significant judgment to develop assumptions about the future performance of the pool of residential mortgage loans that served as collateral, including assumptions about ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Annualized voluntary prepayment rate 10.0 10.0 Annualized default rate 0.5 0.5 Loss-given-default 17.5 17.5 Discount rate 7.8 17.7 MSR financing receivables – Arlington Asset Investment...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the third-party valuation firm’s estimate of the fair value of the underlying MSRs and evaluates the estimate for reasonableness. The significant unobservable inputs to the fair value measurement o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 31, 2022   Discount rate     9.0 %     8.5 % Annualized prepayment rate     6.6 %     7.0 % Annual per-loan cost of servicing (current loans)   $ 60.00     $ 65.00 annual per-loan cost of ser...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Annual per-loan cost of servicing (current loans) 60.00 65.00 Pursuant to the Company’s MSR financing receivable arrangements, upon the consummation of three-year performance periods ending Decemb...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ) the Company to (from) its mortgage servicing counterparty to date as well as the future expected cash flows from the MSR financing receivables over the remaining performance periods, which is deriv...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. instruments, which include U.S. Treasury note futures, Eurodollar futures, interest rate swap futures, and options on futures, are classified within Level 1 of the fair value hierarchy as they are m...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. market-based forecast of future remaining contractually required cash flows for each interest rate swap. Each market-based cash flow forecast is then discounted using the SOFR curve (sourced from th...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. for delivery on the same forward settlement date as the commitment under measurement. Other Long-term unsecured debt As of March 31, 2023 and December 31, 2022 , the carrying value of the Compan...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. are classified within Level 1 of the fair value hierarchy. Trust preferred debt is classified within Level 2 of the fair value hierarchy as the fair value is estimated based on the quoted prices of ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Investments in equity securities of non-public companies and investment funds – As of March 31, 2023 and December 31, 2022 , the Company had investments in equity securities of non-public compan...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to the investee’s securities in the order of their preference relative to one another. To estimate the enterprise value of the investee, the Company uses traditional valuation methodologies based on...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. distribution and the terminal value of the entity. As of March 31, 2023 , the stock price to net asset multiple for similar public companies, the discount factor for lack of marketability and contr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , receivables, repurchase agreements, payables, and other assets (aside from those previously discussed) and liabilities are generally reflected in the consolidated balance sheets at their cost, whic...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 3 Financial assets: Agency MBS 460,984 460,984 MSR financing receivables 183,058 183,058 Loans 27,798 27,798 Credit securities 102,564 98,933 3,631 Mortgage loans of consolidated VIEs...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ,540 443,540 MSR financing receivables 180,365 180,365 Loans 29,264 29,264 Credit securities 104,437 98,933 5,504 Mortgage loans of consolidated VIE 193,957 193,957 Derivative assets ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. are measured at fair value on a recurring basis for the periods indicated: Three Months Ended March 31, 2023 2022 Beginning balance 412,054 195,767 Net (loss) gain included in "Investment and...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Ending balance 218,830 463,318 Net unrealized (losses) gains included in earnings for the   period for Level 3 assets still held at the reporting date (3,609 15,215 The table below sets forth a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Subtractions from deconsolidation of VIEs (9,481 Amortization of premium, net (16 (60 Ending balance 160 13,615 Net unrealized losses (gains) included in earnings for the   period for Level 3...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. will generally not be subject to U.S. federal or state corporate income taxes on its taxable income to the extent that it distributes all of its annual taxable income to its shareholders on a timely...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. that can be used to offset future taxable ordinary income and reduce its REIT distribution requirements. NOL carryforwards totaling $ 14,450 expire in 2028 and NOL carryforwards totaling $ 149...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in 2023, $ 14,187 in 2026 and $ 16,883 in 2027. Arlington Asset Investment Corp.’s estimated NOL and NCL carryforwards as of March 31, 2023 are subject to potential adjustments up to the time...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. taxable income. For the three months ended March 31, 2023 and 2022 , the Company recognized a provision for income taxes of $ 109 and $ 2,287 , respectively, on the pre-tax net income of its TR...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , the Company assessed the need for recording a provision for any uncertain tax position and has made the determination that such provision is not necessary. If the Company were to incur income tax r...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Diluted earnings per share includes the impact of dilutive securities such as unvested shares of restricted stock, restricted stock units, and performance share units. The following table presents ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Diluted loss per common share (0.10 (0.12 The diluted loss per share for the three months ended March 31, 2023 and 2022 did not include the antidilutive effect of 473,904 and 482,445 shares of...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Class B common stock are entitled to one vote and three votes per share, respectively, on all matters voted upon by the shareholders. Shares of Class B common stock are convertible into shares o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Agreements On August 10, 2018, the Company entered into separate common equity distribution agreements with equity sales agents JMP Securities LLC, B. Riley FBR, Inc., JonesTrading Institutional Se...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. through a market maker other than on an exchange or, subject to the terms of a written notice from the Company, in privately negotiated transactions. During the three months ended March 31, 2023 an...