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ANWORTH MORTGAGE ASSET CORP

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2020 10-K, filed Feb 26, 2021. Its latest SEC filing is a SC 13G/A from Feb 8, 2022.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Invests in residential mortgage-backed securities and residential mortgage loans on behalf of stockholders.

How Did They Make Money?

Earns interest income from its mortgage assets; its objective is to generate income from the spread between that interest and the borrowing costs used to finance the assets.

FY2020 revenue

Did Revenues Turn Into Profits?

No. It lost $103.7M in FY2020.

Net income, FY2020
−276% of revenue
▲ +87% (Loss) vs FY2019 (−$55.4M, −156%)

How Were They Changing?

Since the FY2020 annual report
  • Mar 19, 2021 Anworth completed its merger with Ready Capital Anworth shares ceased trading on the NYSE; common holders received Ready Capital shares and cash.

Shrank. Revenue fell 46% in 4 years, from $70M in FY2016 to $37.5M in FY2020, about 14% a year.

Loans sourced for securitization The latest report describes acquiring non-Qualified Mortgage loans from independent originators to hold for securitization; the older report describes loans held through consolidated securitization trusts.

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