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Western Asset Mortgage Capital Corp

westernassetmcc.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 8, 2023. Its latest SEC filing is a 15-12G from Dec 20, 2023.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Invests in and manages residential mortgage loans and mortgage-backed securities, with other real estate-related financial assets as additional investments.

Did Revenues Turn Into Profits?

No. It lost $89.1M in .

Net income,
−120% of revenue
▲ +82% (Loss) vs (−$49M, −45%)

How Were They Changing?

Since the FY2022 annual report
Latest quarter: Q3 FY2023, the three months to Sep 30, 2023
Net income
▼ −78% (Loss)
vs −$40M in Q3 FY2022
  • Dec 6, 2023 WMC merged into an MITT subsidiary WMC shares converted into MITT shares and a cash payment.
  • Aug 9, 2023 WMC agreed to merge with AG Mortgage Investment Trust instead WMC terminated its agreement with Terra Property Trust and entered a merger agreement with AG Mortgage Investment Trust.

Residential investment focus The earlier report listed agency and non-agency commercial mortgage securities, bridge and commercial loans, and asset-backed securities among target assets. The latest report focuses on residential loans and Non-Agency mortgage-backed securities, while transitioning out of commercial investments.

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