Cherry Hill Mortgage Investment Corp

chmireit.com

Cherry Hill Mortgage Investment Corp (NYSE: CHMI) is a residential mortgage REIT that invests in residential mortgage-backed securities (RMBS) and mortgage servicing rights (MSRs). It earns income primarily from the net interest spread between yields on its RMBS portfolio and the cost of short-term borrowings, primarily repurchase agreements, along with income generated by its taxable REIT subsidiary Aurora, which owns MSRs. CHMI is headquartered in Tinton Falls, New Jersey and has been listed on the NYSE under the symbol CHMI since October 4, 2013. Aurora carries two MSR financing facilities, each up to $100.0 million, secured by Freddie Mac and Fannie Mae MSRs respectively (as of the 10-K filed March 5, 2026). As a REIT, CHMI is required to distribute at least 90% of its annual REIT taxable income to stockholders, making dividend distributions central to its capital return structure. The business is capital-intensive and rate-sensitive, with earnings exposed to interest rate mismatches between fixed-rate or hybrid-ARM assets and short-term floating-rate liabilities.