Risk Factors Update Summary
- Increase in total indebtedness from $10.4 billion to $11 billion, with $9.9 billion secured.
- Change in correspondent production activities due to technological changes and proprietary technology.
- Change in investment strategy from subordinate to subordinate loans may impact returns.
- Transition away from LIBOR may impact borrowing costs and financing arrangements significantly.
- Potential wider mortgage-backed security spreads due to future sales and reallocations.
- Increase in government-insured loans from 47% to 53% of purchases in fiscal year 2023.
- Illiquid investments may result in greater price volatility and potential total loss.
- Continued holding of net CRT-related investments as of December 31, 2022, exposing to potential losses.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1464423&owner=exclude
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