2024 Q1 Form 10-K Financial Statement

#000114036124011952 Filed on March 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $16.35M -$14.57M -$21.20M
YoY Change -197.67% -24.49% -152.75%
Cost Of Revenue $2.634M $18.05M $11.25M
YoY Change -4.74% 34.29% -4.98%
Gross Profit $13.71M -$32.62M -$32.45M
YoY Change -170.32% -0.36% -214.44%
Gross Profit Margin 83.89%
Selling, General & Admin $1.841M $1.756M $6.900M
YoY Change 20.88% 10.65% 9.44%
% of Gross Profit 13.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $3.589M $1.756M $13.73M
YoY Change 12.05% 10.65% 6.15%
Operating Profit $10.13M -$34.38M -$46.18M
YoY Change -144.59% 0.15% -399.44%
Interest Expense $13.65M $51.64M
YoY Change 14.16% 194.04%
% of Operating Profit 134.8%
Other Income/Expense, Net
YoY Change
Pretax Income $12.76M -$34.37M -$34.93M
YoY Change -163.98% 0.12% -228.15%
Income Tax $703.0K -$721.0K $523.0K
% Of Pretax Income 5.51%
Net Earnings $12.06M -$35.48M -$35.46M
YoY Change -162.4% 2.8% -259.79%
Net Earnings / Revenue 73.75%
Basic Earnings Per Share $0.32 -$1.70
Diluted Earnings Per Share $0.32 -$1.29 -$1.70
COMMON SHARES
Basic Shares Outstanding 30.02M 26.98M 26.26M
Diluted Shares Outstanding 30.02M 26.29M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $47.52M $52.89M $52.89M
YoY Change -12.9% -7.74% -7.74%
Cash & Equivalents $47.52M $52.89M $52.89M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $17.44M $17.44M
Total Short-Term Assets $67.17M $70.33M $70.33M
YoY Change -11.86% -43.47% -43.47%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $250.4M $253.6M $1.266B
YoY Change -7.59% -9.33% 4.51%
Other Assets $5.237M $16.44M $16.44M
YoY Change -64.64% 99.67% 99.67%
Total Long-Term Assets $1.339B $1.323B $1.323B
YoY Change -4.56% 2.98% 2.98%
TOTAL ASSETS
Total Short-Term Assets $67.17M $70.33M $70.33M
Total Long-Term Assets $1.339B $1.323B $1.323B
Total Assets $1.406B $1.393B $1.393B
YoY Change -4.93% -1.12% -1.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.797M $1.789M $1.789M
YoY Change -5.57% -97.78% -97.78%
Accrued Expenses $10.82M $36.76M $36.76M
YoY Change -31.65% 88.43% 88.43%
Deferred Revenue
YoY Change
Short-Term Debt $965.0M $903.5M $903.5M
YoY Change -2.68% 9.39% 9.39%
Long-Term Debt Due $62.50M $64.50M $64.50M
YoY Change -6.02% -5.84% -5.84%
Total Short-Term Liabilities $1.047B $1.013B $1.013B
YoY Change -3.53% 1.0% 1.0%
LONG-TERM LIABILITIES
Long-Term Debt $103.9M $104.8M $104.8M
YoY Change -6.76% -9.16% -9.16%
Other Long-Term Liabilities $5.268M $16.62M $16.62M
YoY Change -71.37% -32.77% -32.77%
Total Long-Term Liabilities $109.2M $121.4M $121.4M
YoY Change -15.92% -13.33% -13.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.047B $1.013B $1.013B
Total Long-Term Liabilities $109.2M $121.4M $121.4M
Total Liabilities $1.156B $1.135B $1.138B
YoY Change -4.85% -0.76% -0.81%
SHAREHOLDERS EQUITY
Retained Earnings -$228.0M -$233.2M
YoY Change 15.54% 37.97%
Common Stock $305.0K $305.0K
YoY Change 16.86% 27.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $247.0M $255.5M $255.5M
YoY Change
Total Liabilities & Shareholders Equity $1.406B $1.393B $1.393B
YoY Change -4.93% -1.12% -1.12%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $12.06M -$35.48M -$35.46M
YoY Change -162.4% 2.8% -259.79%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$19.05M $18.60M $40.66M
YoY Change -622.23% 22.41% -32.14%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$55.55M $60.09M -$104.1M
YoY Change -64.68% 578.21% -18.84%
Cash From Investing Activities -$55.55M $60.09M -$104.1M
YoY Change -64.68% 578.21% -18.84%
FINANCING ACTIVITIES
Cash Dividend Paid $6.959M $31.21M
YoY Change -20.97% 1.28%
Common Stock Issuance & Retirement, Net $31.05M
YoY Change -193.24%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 58.03M -79.79M 67.17M
YoY Change -63.14% 229.14% 17.7%
NET CHANGE
Cash From Operating Activities -19.05M 18.60M 40.66M
Cash From Investing Activities -55.55M 60.09M -104.1M
Cash From Financing Activities 58.03M -79.79M 67.17M
Net Change In Cash -16.57M -1.103M 3.773M
YoY Change -534.5% 483.6% -133.62%
FREE CASH FLOW
Cash From Operating Activities -$19.05M $18.60M $40.66M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2023 us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
761946000
CY2022 us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
1080180000
CY2021 us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
583617000
CY2023 chmi Proceeds From Principal Paydown Of Agency Residential Mortgage Backed Security
ProceedsFromPrincipalPaydownOfAgencyResidentialMortgageBackedSecurity
68371000
CY2021 chmi Proceeds From Principal Paydown Of Agency Residential Mortgage Backed Security
ProceedsFromPrincipalPaydownOfAgencyResidentialMortgageBackedSecurity
246973000
CY2023 us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
585617000
CY2022 us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
901788000
CY2021 us-gaap Payments For Hedge Investing Activities
PaymentsForHedgeInvestingActivities
11826000
CY2023 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
-13059000
CY2022 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
-23402000
CY2021 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
0
CY2023 chmi Long Term Incentive Plan Distributions Paid
LongTermIncentivePlanDistributionsPaid
389000
CY2021 chmi Payment Of Redemption Of Operating Partnership S Units
PaymentOfRedemptionOfOperatingPartnershipSUnits
89000
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
31054000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
3773000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-11223000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-53441000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130218000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
65554000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76777000
CY2023 us-gaap Interest Paid Net
InterestPaidNet
28885000
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
44000
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
58000
CY2023 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6650000
CY2022 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
8483000
CY2021 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
7056000
CY2022 chmi Sale Of Residential Mortgage Backed Security Settled
SaleOfResidentialMortgageBackedSecuritySettled
-49803000
CY2023 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div style="display:none;"><br/></div> <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">The repurchase agreements had the following remaining maturities and weighted average rates as of the dates indicated (dollars in thousands):</div> <div><br/> </div> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Repurchase Agreements Characteristics</div> <div><br/> </div> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">As of December 31, 2023</div> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"></td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Repurchase</div> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Agreements</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Weighted </div> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Average Rate</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: middle; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt;">Less than one month</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">772,466</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">5.55</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">%</div> </td> </tr> <tr> <td style="vertical-align: middle; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt;">One to three months</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">131,023</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">5.55</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">%</div> </td> </tr> <tr> <td style="vertical-align: middle; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total/Weighted Average</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">$</span></div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">903,489</span></div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">5.55</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">%</div> </td> </tr> </table> <div><br/> </div> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">As of December 31, 2022</div> <div><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"></td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Repurchase</div> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Agreements</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Weighted </div> <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Average Rate</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: middle; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt;">Less than one month</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">715,899</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">4.39</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">%</div> </td> </tr> <tr> <td style="vertical-align: middle; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt;">One to three months</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">110,063</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">4.53</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;">%</div> </td> </tr> <tr> <td style="vertical-align: middle; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-align: left; text-indent: -7.2pt; margin-left: 7.2pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total/Weighted Average</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">$</span></div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">825,962</span></div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">4.41</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">%</div> </td> </tr> </table>
CY2023 dei Amendment Flag
AmendmentFlag
false
CY2023 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001571776
CY2023Q4 us-gaap Investment Type Extensible Enumeration
InvestmentTypeExtensibleEnumeration
http://chmireit.com/20231231#MortgageServiceRightMember
CY2023 dei Auditor Firm
AuditorFirmId
42
CY2023 dei Document Type
DocumentType
10-K
CY2023 dei Document Annual Report
DocumentAnnualReport
true
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 dei Document Transition Report
DocumentTransitionReport
false
CY2023 dei Entity File Number
EntityFileNumber
001-36099
CY2023 dei Entity Registrant Name
EntityRegistrantName
CHERRY HILL MORTGAGE INVESTMENT CORPORATION
CY2023 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
MD
CY2023 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-1315605
CY2023 dei Entity Address Address Line1
EntityAddressAddressLine1
1451 Route 34
CY2023 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 303
CY2023 dei Entity Address City Or Town
EntityAddressCityOrTown
Farmingdale
CY2023 dei Entity Address State Or Province
EntityAddressStateOrProvince
NJ
CY2023 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
07727
CY2023 dei City Area Code
CityAreaCode
877
CY2023 dei Local Phone Number
LocalPhoneNumber
870 – 7005
CY2023 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2023 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2023 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023 dei Entity Small Business
EntitySmallBusiness
true
CY2023 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
true
CY2023 dei Entity Shell Company
EntityShellCompany
false
CY2023 dei Document Fin Stmt Error Correction Flag
DocumentFinStmtErrorCorrectionFlag
false
CY2023Q2 dei Entity Public Float
EntityPublicFloat
129600000
CY2024Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
30019969
CY2023 dei Auditor Name
AuditorName
Ernst & Young LLP
CY2023 dei Auditor Location
AuditorLocation
New York, NY
CY2023Q4 chmi Securities Sold Under Agreements To Repurchase Carrying Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseCarryingValueOfCollateral
973221000
CY2022Q4 chmi Securities Sold Under Agreements To Repurchase Carrying Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseCarryingValueOfCollateral
815171000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1012130000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
931431000
CY2023Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
253629000
CY2022Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
279739000
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
253629000
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
45533000
CY2023Q4 chmi Receivables From Unsettled Trades
ReceivablesFromUnsettledTrades
0
CY2022Q4 chmi Receivables From Unsettled Trades
ReceivablesFromUnsettledTrades
49803000
CY2023Q4 chmi Receivables And Other Assets
ReceivablesAndOtherAssets
38402000
CY2022Q4 chmi Receivables And Other Assets
ReceivablesAndOtherAssets
36765000
CY2023Q4 us-gaap Assets
Assets
1392992000
CY2022Q4 us-gaap Assets
Assets
1408825000
CY2023Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
903489000
CY2022Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
825962000
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
16617000
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
24718000
CY2023Q4 us-gaap Notes Payable
NotesPayable
169314000
CY2022Q4 us-gaap Notes Payable
NotesPayable
183888000
CY2023Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
6650000
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
8483000
CY2023Q4 chmi Due To Affiliate Current And Noncurrent Amount
DueToAffiliateCurrentAndNoncurrentAmount
1789000
CY2022Q4 chmi Due To Affiliate Current And Noncurrent Amount
DueToAffiliateCurrentAndNoncurrentAmount
1870000
CY2023Q4 us-gaap Liabilities
Liabilities
1134617000
CY2022Q4 us-gaap Liabilities
Liabilities
1143309000
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
30019969
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
23508130
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
23508130
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
239000
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
344510000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-233161000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-168989000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2545000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-29104000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
255476000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
262035000
CY2023Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
2899000
CY2022Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
3481000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
258375000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
265516000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1392992000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1408825000
CY2023 us-gaap Interest Income Operating
InterestIncomeOperating
49985000
CY2022 us-gaap Interest Income Operating
InterestIncomeOperating
29642000
CY2021 us-gaap Interest Income Operating
InterestIncomeOperating
14956000
CY2022 chmi Net Servicing Income
NetServicingIncome
41593000
CY2021 us-gaap Gain Loss On Sales Of Mortgage Backed Securities Mbs
GainLossOnSalesOfMortgageBackedSecuritiesMBS
548000
CY2021 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
15000
CY2023 chmi Unrealized Gain Loss On Rmbs Measured At Fair Value
UnrealizedGainLossOnRMBSMeasuredAtFairValue
9755000
CY2022 chmi Unrealized Gain Loss On Rmbs Measured At Fair Value
UnrealizedGainLossOnRMBSMeasuredAtFairValue
0
CY2021 chmi Unrealized Gain Loss On Rmbs Measured At Fair Value
UnrealizedGainLossOnRMBSMeasuredAtFairValue
0
CY2022 chmi Unrealized Gain Loss On Investments In Servicing Related Assets
UnrealizedGainLossOnInvestmentsInServicingRelatedAssets
22976000
CY2021 chmi Unrealized Gain Loss On Investments In Servicing Related Assets
UnrealizedGainLossOnInvestmentsInServicingRelatedAssets
-11062000
CY2023 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
-21202000
CY2022 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
40193000
CY2021 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
28138000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
781000
CY2023 us-gaap Profit Loss
ProfitLoss
-35455000
CY2022 us-gaap Profit Loss
ProfitLoss
22189000
CY2021 us-gaap Profit Loss
ProfitLoss
12530000
CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-661000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-44647000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17345562
CY2021 chmi Noncontrolling Interest In Operating Partnership Redemption Of Units
NoncontrollingInterestInOperatingPartnershipRedemptionOfUnits
-89000
CY2021 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
18930000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
278816000
CY2022 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
33307000
CY2022 us-gaap Profit Loss
ProfitLoss
22189000
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-36631000
CY2022 chmi Noncontrolling Interest Increase From Long Term Incentive Plan Units
NoncontrollingInterestIncreaseFromLongTermIncentivePlanUnits
496000
CY2022 us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
416000
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.08
CY2022 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
22393000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
265516000
CY2023 chmi Noncontrolling Interest Increase From Long Term Incentive Plan Units
NoncontrollingInterestIncreaseFromLongTermIncentivePlanUnits
468000
CY2023 us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
389000
CY2023 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.72
CY2023 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
19527000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
258375000
CY2021 us-gaap Gain Loss On Sales Of Mortgage Backed Securities Mbs
GainLossOnSalesOfMortgageBackedSecuritiesMBS
548000
CY2023 chmi Unrealized Gain Loss On Investments In Servicing Related Assets
UnrealizedGainLossOnInvestmentsInServicingRelatedAssets
-25937000
CY2022 chmi Unrealized Gain Loss On Investments In Servicing Related Assets
UnrealizedGainLossOnInvestmentsInServicingRelatedAssets
22976000
CY2021 chmi Unrealized Gain Loss On Investments In Servicing Related Assets
UnrealizedGainLossOnInvestmentsInServicingRelatedAssets
-11062000
CY2023 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
23000
CY2022 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
12000
CY2021 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
15000
CY2023 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
33821000
CY2022 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
1363000
CY2023 chmi Unrealized Gain Loss On Rmbs Measured At Fair Value
UnrealizedGainLossOnRMBSMeasuredAtFairValue
9755000
CY2022 chmi Unrealized Gain Loss On Rmbs Measured At Fair Value
UnrealizedGainLossOnRMBSMeasuredAtFairValue
0
CY2021 chmi Unrealized Gain Loss On Rmbs Measured At Fair Value
UnrealizedGainLossOnRMBSMeasuredAtFairValue
0
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
40659000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-104054000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-128202000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
166521000
CY2023 chmi Proceeds From Borrowings Of Securities Sold Under Agreements To Repurchase
ProceedsFromBorrowingsOfSecuritiesSoldUnderAgreementsToRepurchase
9300725000
CY2022 chmi Proceeds From Borrowings Of Securities Sold Under Agreements To Repurchase
ProceedsFromBorrowingsOfSecuritiesSoldUnderAgreementsToRepurchase
6081968000
CY2021 chmi Proceeds From Borrowings Of Securities Sold Under Agreements To Repurchase
ProceedsFromBorrowingsOfSecuritiesSoldUnderAgreementsToRepurchase
5323587000
CY2023 chmi Repayments For Securities Sold Under Agreements To Repurchase
RepaymentsForSecuritiesSoldUnderAgreementsToRepurchase
9223198000
CY2022 chmi Repayments For Securities Sold Under Agreements To Repurchase
RepaymentsForSecuritiesSoldUnderAgreementsToRepurchase
6121500000
CY2023 chmi Proceeds From Repayments Of Bank Debt
ProceedsFromRepaymentsOfBankDebt
-759000
CY2022 chmi Proceeds From Repayments Of Bank Debt
ProceedsFromRepaymentsOfBankDebt
41500000
CY2021 chmi Proceeds From Repayments Of Bank Debt
ProceedsFromRepaymentsOfBankDebt
105702000
CY2022 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
3000000
CY2021 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
72000000
CY2023 us-gaap Payments Of Dividends
PaymentsOfDividends
31211000
CY2022 us-gaap Payments Of Dividends
PaymentsOfDividends
30818000
CY2021 us-gaap Payments Of Dividends
PaymentsOfDividends
28455000
CY2022 chmi Long Term Incentive Plan Distributions Paid
LongTermIncentivePlanDistributionsPaid
416000
CY2023 chmi Payment Of Conversion Of Operating Partnerships Units
PaymentOfConversionOfOperatingPartnershipsUnits
0
CY2022 chmi Payment Of Conversion Of Operating Partnerships Units
PaymentOfConversionOfOperatingPartnershipsUnits
0
CY2021 chmi Payment Of Conversion Of Operating Partnerships Units
PaymentOfConversionOfOperatingPartnershipsUnits
147000
CY2023 chmi Payment Of Redemption Of Operating Partnership S Units
PaymentOfRedemptionOfOperatingPartnershipSUnits
0
CY2021 chmi Sale Of Residential Mortgage Backed Security Settled
SaleOfResidentialMortgageBackedSecuritySettled
0
CY2022 chmi Purchase Of Residential Mortgage Backed Security Settled
PurchaseOfResidentialMortgageBackedSecuritySettled
78881000
CY2021 chmi Purchase Of Residential Mortgage Backed Security Settled
PurchaseOfResidentialMortgageBackedSecuritySettled
0
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Use of Estimates</div> <div><br/> </div> <div style="display:none;"><br/></div> <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">The preparation of financial statements in conformity with GAAP requires management to make a number of significant estimates and assumptions. These include estimates of the fair value of mortgage servicing rights (“MSRs” or “Servicing Related Assets”); residential mortgage-backed securities (“RMBS” or “securities”) and derivatives; credit losses and other estimates that affect the reported amounts of certain assets, revenues, liabilities and expenses as of the date of, and for the periods covered by, the consolidated financial statements. It is likely that changes in these estimates will occur in the near term. The Company’s estimates are inherently subjective. Actual results could differ from the Company’s estimates, and the differences may be material.</div>
CY2022 chmi Sale Of Residential Mortgage Backed Security Settled
SaleOfResidentialMortgageBackedSecuritySettled
-49800000
CY2022 chmi Purchase Of Residential Mortgage Backed Security Settled
PurchaseOfResidentialMortgageBackedSecuritySettled
78900000
CY2023 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Derivatives and Hedging Activities</div> <div><br/> </div> <div style="display:none;"><br/></div> <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Derivative transactions include swaps, swaptions, U.S. treasury futures and “to-be-announced” securities (“TBAs”). A TBA contract is an agreement to purchase or sell, for future delivery, an Agency RMBS with a specified issuer, term and coupon. Swaps and swaptions are entered into by the Company solely for interest rate risk management purposes. TBAs and U.S. treasury futures are used to manage duration risk as well as basis risk and pricing risk on the Company’s financing facilities for MSRs. The decision as to whether or not a given transaction/position (or portion thereof) is economically hedged is made on a case-by-case basis, based on the risks involved and other factors as determined by senior management, including restrictions imposed by the Code on REITs. In determining whether to economically hedge a risk, the Company may consider whether other assets, liabilities, firm commitments and anticipated transactions <span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">already offset or reduce the risk. All transactions undertaken as economic hedges are entered into with a view towards minimizing the potential for economic losses that could be incurred by the Company. Generally, derivatives entered into are not intended to qualify as hedges under GAAP, unless specifically stated otherwise.</span></div> <div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div style="display:none;"><br/></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; text-align: left; text-transform: none; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; text-indent: 36pt;">From time to time, the Company enters into a TBA dollar roll which represents a transaction where TBA contracts with the same terms but different settlement dates are simultaneously bought and sold. The TBA contract settling in the later month typically prices at a discount to the earlier month contract with the difference in price commonly referred to as the “drop”. The drop is a reflection of the expected net interest income from an investment in similar Agency RMBS, net of an implied financing cost, that would be foregone as a result of settling the contract in the later month rather than in the earlier month. The drop between the current settlement month price and the forward settlement month price occurs because in the TBA dollar roll market, the party providing the financing is the party that would retain all principal and interest payments accrued during the financing period. Accordingly, drop income on TBA dollar rolls generally represents the economic equivalent of the net interest income earned on the underlying Agency RMBS less an implied financing cost. TBA dollar roll transactions are accounted for under GAAP as a series of derivatives transactions.</div> <div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br class="Apple-interchange-newline"/> </span></div> <div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="display:none;"><br/></div> <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The Company’s bi-lateral derivative financial instruments contain credit risk to the extent that its counterparties may be unable to meet the terms of the agreements. The Company reduces such risk by limiting its exposure to any</span> one counterparty. In addition, the potential risk of loss with any one party resulting from this type of credit risk is monitored. The Company’s interest rate swaps and U.S. treasury futures are required to be cleared on an exchange, which further mitigates, but does not eliminate, credit risk. Management does not expect any material losses as a result of default by other parties to its derivative financial instruments.</div> <div><br/> </div> <div style="display:none;"><br/></div> <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman';"><span style="text-decoration: underline;">Classification</span></span> – All derivatives, including TBAs, are recognized as either assets or liabilities on the consolidated balance sheets and measured at fair value. The fair value of TBA derivatives is determined using methods similar to those used to value Agency RMBS. Due to the nature of these instruments, they may be in a receivable/asset position or a payable/liability position at the end of an accounting period. Derivative amounts payable to, and receivable from, the same party under a contract may be offset as long as the following conditions are met: (i) each of the two parties owes the other determinable amounts; (ii) the reporting party has the right to offset the amount owed with the amount owed by the other party; (iii) the reporting party intends to offset; and (iv) the right to offset is enforceable by law. The Company reports the fair value of derivative instruments gross of cash paid or received pursuant to credit support agreements, and fair value may be reflected on a net counterparty basis when the Company believes a legal right of offset exists under an enforceable master netting agreement. For further discussion on offsetting assets and liabilities, see Note 8.</div> <div><br/> </div> <div style="display:none;"><br/></div> <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman';"><span style="text-decoration: underline;">Revenue Recognition</span></span> – With respect to derivatives that have not been designated as hedges, any payments under, or fluctuations in the fair value of, such derivatives have been recognized currently in “Realized gain (loss) on derivatives, net” and “Unrealized gain (loss) on derivatives, net”, respectively, in the consolidated statements of income (loss). Interest rate swap periodic interest income (expense) is included in “Realized gain (loss) on derivatives, net” in the consolidated statements of income (loss).</div>
CY2022 us-gaap Gain Loss On Sales Of Mortgage Backed Securities Mbs
GainLossOnSalesOfMortgageBackedSecuritiesMBS
-99694000
CY2021 us-gaap Gain Loss On Sales Of Mortgage Backed Securities Mbs
GainLossOnSalesOfMortgageBackedSecuritiesMBS
548000
CY2023Q4 chmi Variation Margin
VariationMargin
75800000
CY2022Q4 chmi Variation Margin
VariationMargin
99000000
CY2023 chmi Gain On Sales Of Real Estate Mortgage Backed Securities
GainOnSalesOfRealEstateMortgageBackedSecurities
0
CY2022 chmi Gain On Sales Of Real Estate Mortgage Backed Securities
GainOnSalesOfRealEstateMortgageBackedSecurities
50000
CY2021 chmi Gain On Sales Of Real Estate Mortgage Backed Securities
GainOnSalesOfRealEstateMortgageBackedSecurities
5653000
CY2023 chmi Loss On Sales Of Real Estate Mortgage Backed Securities
LossOnSalesOfRealEstateMortgageBackedSecurities
29944000
CY2022 chmi Loss On Sales Of Real Estate Mortgage Backed Securities
LossOnSalesOfRealEstateMortgageBackedSecurities
99744000
CY2021 chmi Loss On Sales Of Real Estate Mortgage Backed Securities
LossOnSalesOfRealEstateMortgageBackedSecurities
5105000
CY2023 chmi Loss On Rmbs Measured At Fair Value Through Earnings
LossOnRMBSMeasuredAtFairValueThroughEarnings
6371000
CY2022 chmi Loss On Rmbs Measured At Fair Value Through Earnings
LossOnRMBSMeasuredAtFairValueThroughEarnings
0
CY2021 chmi Loss On Rmbs Measured At Fair Value Through Earnings
LossOnRMBSMeasuredAtFairValueThroughEarnings
0
CY2023 us-gaap Gain Loss On Sales Of Mortgage Backed Securities Mbs
GainLossOnSalesOfMortgageBackedSecuritiesMBS
-36315000
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span> </div> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Changes in Presentation</div> <div style="display:none;"><br/></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; text-align: left; text-transform: none; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; text-indent: 36pt;"> <br/> </div> <div style="display:none;"><br/></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; text-align: left; text-transform: none; white-space: normal; word-spacing: 0px; text-decoration-style: initial; text-decoration-color: initial; text-indent: 36pt;">Certain prior period amounts have been reclassified to conform to current period presentation.<br/> </div>
CY2023 us-gaap Interest Income Operating
InterestIncomeOperating
49985000
CY2023 us-gaap Interest Expense
InterestExpense
51642000
CY2023 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
-1657000
CY2023 chmi Servicing Fee Income
ServicingFeeIncome
53427000
CY2023 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
11248000
CY2023 chmi Net Servicing Income
NetServicingIncome
42179000
CY2023 us-gaap Noninterest Income Other
NoninterestIncomeOther
-61724000
CY2023 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
13730000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
523000
CY2023 us-gaap Profit Loss
ProfitLoss
-35455000
CY2022 us-gaap Interest Income Operating
InterestIncomeOperating
29642000
CY2022 us-gaap Interest Expense
InterestExpense
17563000
CY2022 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
12079000
CY2022 chmi Servicing Fee Income
ServicingFeeIncome
53430000
CY2022 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
11837000
CY2022 chmi Net Servicing Income
NetServicingIncome
41593000
CY2022 us-gaap Noninterest Income Other
NoninterestIncomeOther
-13479000
CY2022 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
12934000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5070000
CY2022 us-gaap Profit Loss
ProfitLoss
22189000
CY2021 us-gaap Interest Income Operating
InterestIncomeOperating
14956000
CY2021 us-gaap Interest Expense
InterestExpense
5768000
CY2021 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
9188000
CY2021 chmi Servicing Fee Income
ServicingFeeIncome
54157000
CY2021 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
13624000
CY2021 chmi Net Servicing Income
NetServicingIncome
40533000
CY2021 us-gaap Noninterest Income Other
NoninterestIncomeOther
-21583000
CY2021 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
14827000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
781000
CY2021 us-gaap Profit Loss
ProfitLoss
12530000
CY2023Q4 us-gaap Investments
Investments
1265759000
CY2023Q4 us-gaap Other Assets
OtherAssets
127233000
CY2023Q4 us-gaap Assets
Assets
1392992000
CY2023Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1072803000
CY2023Q4 us-gaap Other Liabilities
OtherLiabilities
61814000
CY2023Q4 us-gaap Liabilities
Liabilities
1134617000
CY2023Q4 chmi Assets Liabilities Net Book Value
AssetsLiabilitiesNetBookValue
258375000
CY2022Q4 us-gaap Investments
Investments
1211170000
CY2022Q4 us-gaap Other Assets
OtherAssets
197655000
CY2022Q4 us-gaap Assets
Assets
1408825000
CY2022Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1009850000
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
133459000
CY2022Q4 us-gaap Liabilities
Liabilities
1143309000
CY2022Q4 chmi Assets Liabilities Net Book Value
AssetsLiabilitiesNetBookValue
265516000
CY2023Q4 chmi Servicing Assets Unpaid Principal Balance
ServicingAssetsUnpaidPrincipalBalance
19972994000
CY2023Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
253629000
CY2023Q4 chmi Investment In Servicing Related Assets Weighted Average Coupon
InvestmentInServicingRelatedAssetsWeightedAverageCoupon
0.0348
CY2023 chmi Investment In Servicing Related Assets Weighted Average Maturity Period
InvestmentInServicingRelatedAssetsWeightedAverageMaturityPeriod
P25Y
CY2023Q4 chmi Investment In Servicing Related Assets Change In Fair Value In Other Income Loss
InvestmentInServicingRelatedAssetsChangeInFairValueInOtherIncomeLoss
-25937000
CY2022Q4 chmi Servicing Assets Unpaid Principal Balance
ServicingAssetsUnpaidPrincipalBalance
21688353000
CY2022Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
279739000
CY2022Q4 chmi Investment In Servicing Related Assets Weighted Average Coupon
InvestmentInServicingRelatedAssetsWeightedAverageCoupon
0.0349
CY2022 chmi Investment In Servicing Related Assets Weighted Average Maturity Period
InvestmentInServicingRelatedAssetsWeightedAverageMaturityPeriod
P25Y9M18D
CY2022Q4 chmi Investment In Servicing Related Assets Change In Fair Value In Other Income Loss
InvestmentInServicingRelatedAssetsChangeInFairValueInOtherIncomeLoss
22976000
CY2023 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
9853000
CY2022 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
9853000
CY2021 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
9853000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-44647000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
11886000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2430000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26262407
CY2023Q4 chmi Investment In Servicing Related Assets Unpaid Principal Balance Percentage
InvestmentInServicingRelatedAssetsUnpaidPrincipalBalancePercentage
1
CY2022Q4 chmi Investment In Servicing Related Assets Unpaid Principal Balance Percentage
InvestmentInServicingRelatedAssetsUnpaidPrincipalBalancePercentage
1
CY2023 us-gaap Sale Of Stock Transaction Date
SaleOfStockTransactionDate
2013-10-09
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1082253
CY2021 chmi Number Of Units And Shares Remaining Available For Future Issuance Under Equity Compensation Plans In Shares
NumberOfUnitsAndSharesRemainingAvailableForFutureIssuanceUnderEquityCompensationPlansInShares
70014
CY2021Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
9.77
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1012239
CY2022 chmi Number Of Units And Shares Remaining Available For Future Issuance Under Equity Compensation Plans In Shares
NumberOfUnitsAndSharesRemainingAvailableForFutureIssuanceUnderEquityCompensationPlansInShares
101691
CY2022Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
7.7
CY2022 chmi Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeited
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeited
4916
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
915464
CY2023 chmi Number Of Units And Shares Remaining Available For Future Issuance Under Equity Compensation Plans In Shares
NumberOfUnitsAndSharesRemainingAvailableForFutureIssuanceUnderEquityCompensationPlansInShares
134035
CY2023Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
5.74
CY2023 chmi Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Increase
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsIncrease
2006736
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
2788165
CY2023 us-gaap Profit Loss
ProfitLoss
-35455000
CY2022 us-gaap Profit Loss
ProfitLoss
22189000
CY2021 us-gaap Profit Loss
ProfitLoss
12530000
CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-661000
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix
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LongTermDebt
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
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CY2022Q4 chmi Long Term Debt Maturities Repayments Of Principal In Year Six
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CY2022Q4 us-gaap Long Term Debt
LongTermDebt
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CY2023Q4 chmi Servicing Advances
ServicingAdvances
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CY2022Q4 chmi Servicing Advances
ServicingAdvances
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CY2023Q4 us-gaap Interest Receivable
InterestReceivable
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InterestReceivable
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CY2023Q4 chmi Receivables And Other Assets
ReceivablesAndOtherAssets
38402000
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ReceivablesAndOtherAssets
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InterestPayableOnRepurchaseAgreements
3929000
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InterestPayableOnRepurchaseAgreements
2796000
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AccruedInterestOnNotesPayable
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DueToCounterparties
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DueToCounterparties
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CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
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CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
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PercentageOfTaxableIncomeThatMustBeDistributedToQualifyAsAREIT
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CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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DeferredFederalIncomeTaxExpenseBenefit
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IncomeTaxExpenseBenefit
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IncomeTaxExpenseBenefit
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IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
2795000
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EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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IncomeTaxReconciliationStateAndLocalIncomeTaxes
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IncomeTaxReconciliationStateAndLocalIncomeTaxes
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IncomeTaxReconciliationStateAndLocalIncomeTaxes
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CY2023 chmi Income Tax Reconciliation Permanent Difference
IncomeTaxReconciliationPermanentDifference
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EffectiveIncomeTaxRateReconciliationPermanentDifferencesPercent
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CY2022 chmi Income Tax Reconciliation Permanent Difference
IncomeTaxReconciliationPermanentDifference
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CY2022 chmi Effective Income Tax Rate Reconciliation Permanent Differences Percent
EffectiveIncomeTaxRateReconciliationPermanentDifferencesPercent
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CY2021 chmi Income Tax Reconciliation Permanent Difference
IncomeTaxReconciliationPermanentDifference
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CY2022 chmi Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Of2017 Provision To Return Adjustment Percent
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CY2021 chmi Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Of2017 Provision To Return Adjustment Amount
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CY2023 us-gaap Income Tax Reconciliation Tax Exempt Income
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
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CY2022Q4 us-gaap Income Tax Receivable
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CY2021Q4 us-gaap Income Tax Receivable
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CY2023Q4 chmi Deferred Tax Asset Mortgage Servicing Rights
DeferredTaxAssetMortgageServicingRights
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DeferredTaxAssetMortgageServicingRights
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CY2021Q4 chmi Deferred Tax Asset Mortgage Servicing Rights
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CY2023Q4 ecd Rule10b51 Arr Adopted Flag
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