NEW YORK MORTGAGE TRUST INC
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
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Schedule IV - Mortgage Loans on Real Estate
(dollar amounts in thousands)
| Asset Type | Number of Loans | Interest Rate | Maturity Date | Carrying Value (1) | Principal Amount of Loans Subject to Delinquent Principal or Interest (2) |
|---|---|---|---|---|---|
| Residential loans | |||||
| First lien loans | |||||
| Original loan amount $0 - $99,999 | 302 | 2.00% - 14.99% | 09/23/2013 - 09/01/2063 | $8,348 | $387 |
| Original loan amount $100,000 - $199,999 | 309 | 2.13% - 11.72% | 11/22/2024 - 09/01/2063 | 34,929 | 347 |
| Original loan amount $200,000 - $299,999 | 281 | 1.88% - 7.63% | 02/01/2033 - 11/01/2063 | 53,418 | 1,276 |
| Original loan amount over $299,999 | 402 | 1.99% - 9.38% | 08/01/2027 - 08/01/2063 | 148,642 | 1,367 |
| Second lien loans | |||||
| Original loan amount $0 - $99,999 | 168 | 0.00% - 8.88% | 06/01/2024 - 08/01/2062 | 5,546 | 474 |
| Original loan amount $100,000 - $199,999 | 9 | 6.25% - 8.63% | 11/01/2032 - 03/01/2050 | 947 | — |
| Original loan amount $200,000 - $299,999 | 4 | 6.75% - 7.75% | 03/01/2046 - 01/01/2050 | 712 | — |
| Business purpose loans | |||||
| Original loan amount $0 - $99,999 | 218 | 5.50% - 13.65% | 09/05/2020 - 06/01/2052 | 27,199 | 3,829 |
| Original loan amount $100,000 - $199,999 | 238 | 4.25% - 14.29% | 07/18/2020 - 06/01/2052 | 41,772 | 11,278 |
| Original loan amount $200,000 - $299,999 | 196 | 5.63% - 15.19% | 04/19/2020 - 08/01/2052 | 51,703 | 9,943 |
| Original loan amount over $299,999 | 488 | 5.50% - 15.39% | 07/08/2020 - 08/01/2052 | 454,158 | 104,816 |
| Residential loans held in securitization trusts | |||||
| First lien loans | |||||
| Original loan amount $0 - $99,999 | 1,637 | 0.00% - 14.29% | 08/20/2013 - 10/01/2063 | 81,538 | 7,390 |
| Original loan amount $100,000 - $199,999 | 2,116 | 0.00% - 12.75% | 11/01/2023 - 09/01/2063 | 222,407 | 13,813 |
| Original loan amount $200,000 - $299,999 | 1,041 | 0.00% - 13.25% | 08/01/2025 - 09/01/2063 | 186,574 | 12,114 |
| Original loan amount over $299,999 | 1,221 | 1.88% - 9.75% | 12/01/2025 - 11/01/2063 | 406,914 | 27,348 |
| Business purpose loans | |||||
| Original loan amount $0 - $99,999 | 340 | 4.00% - 13.49% | 09/01/2022 - 07/01/2052 | 38,721 | 1,676 |
| Original loan amount $100,000 - $199,999 | 520 | 3.75% - 14.75% | 11/13/2022 - 09/01/2052 | 78,371 | 2,001 |
| Original loan amount $200,000 - $299,999 | 304 | 3.50% - 12.99% | 03/18/2023 - 07/01/2052 | 73,003 | 1,219 |
| Original loan amount over $299,999 | 527 | 3.49% - 12.99% | 07/01/2022 - 07/01/2052 | 414,541 | 21,299 |
|---|---|---|---|---|---|
| Consolidated SLST | |||||
| First lien loans | 5,813 | 1.38% - 10.50% | 03/01/2021 - 11/01/2063 | 754,860 | 84,650 |
| $3,084,303 | $305,227 | ||||
(1)The aggregate cost for U.S. federal income tax purposes of consolidated mortgage loans in the table above, excluding Consolidated SLST, is approximately$2.5 billion as of December 31, 2023. The Company invests in first loss subordinated securities and certain IOs issued by Consolidated SLST. Consolidated SLST carrying value in the table above represents the carrying value of the residential loans in the securitization that have been consolidated in accordance with GAAP.
(2)Of this amount, approximately$7.4 million was acquired from controlled and other affiliates.
Reconciliation of Balance Sheet Reported Amounts of Mortgage Loans on Real Estate
| For the year ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2023 | 2022 | 2021 |
| Beginning balance | $3,525,080 | $3,575,601 | $3,049,166 |
| Additions during period: | |||
| Purchases (1) | 620,277 | 1,733,265 | 1,581,979 |
| Accretion of purchase discount | 6,689 | 5,292 | 4,154 |
| Change in realized and unrealized gains | 65,485 | (404,524) | 44,564 |
| Deductions during period: | |||
| Repayments of principal | (1,062,930) | (1,362,294) | (1,018,176) |
| Collection of interest | — | — | — |
| Transfer to REO | (42,485) | (18,858) | (4,133) |
| Cost of loans sold | (25,144) | — | (77,127) |
| Provision for loan loss | — | — | — |
| Amortization of premium | (2,669) | (3,402) | (4,826) |
| Balance at end of period | $3,084,303 | $3,525,080 | $3,575,601 |
(1)The Company exercised its option to purchase 50% of the issued and outstanding interests of an entity that originates residential loans during the year ended December 31, 2023. The Company purchased $80.8 million, $260.6 million and $94.0 million of residential loans from the entity during the years ended December 31, 2023, 2022 and 2021, respectively.
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