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Chimera Investment Corporation (NYSE: CIM) ("Chimera") Announces Definitive Agreement to Acquire HomeXpress Mortgage Corp.
NEW YORK, June 12, 2025--Chimera Investment Corporation (NYSE: CIM) ("Chimera") today announced that on June 11, 2025, it entered into a definitive agreement to acquire HomeXpress Mortgage Corp. ("HomeXpress") from certain affiliates of Seer Capital Management’s credit fund business ("Seer") and certain management sellers (together with Seer, the "Sellers"). HomeXpress is a leading originator of consumer non-QM, investor business purpose, and other non-Agency mortgage loan products, as well as a
About this update from Chimera Investment Corporation
[{"type":"text","content":"Transaction Broadens Chimera’s Residential Credit Platform and Expected to Be Accretive to Earnings in 2026","length":107,"tagName":"p"},{"type":"text","content":"NEW YORK, June 12, 2025--(BUSINESS WIRE)--Chimera Investment Corporation (NYSE: CIM) ("Chimera") today announced that on June 11, 2025, it entered into a definitive agreement to acquire HomeXpress Mortgage Corp. ("HomeXpress") from certain affiliates of Seer Capital Management’s credit fund business ("Seer") and certain management sellers (together with Seer, the "Sellers"). HomeXpress is a leading originator of consumer non-QM, investor business purpose, and other non-Agency mortgage loan products, as well as an originator of Agency mortgage loans with a nationwide presence across 46 states and D.C.","length":647,"tagName":"p"},{"type":"text","content":""We are thrilled to welcome HomeXpress to the Chimera team," said Phillip J. Kardis II, President and Chief Executive Officer of Chimera. "We believe that the transaction is the natural next step in the transformation of Chimera. Bringing together Chimera’s strong history of loan securitization, structured finance, and third-party loan management and advisory services with HomeXpress’ loan origination platform is expected to create a powerful combination and enhance our enterprise value. HomeXpress has an excellent management team with experienced origination professionals that have a long history of serving broker and correspondent partners across the U.S. We expect this acquisition to be accretive to Chimera’s earnings in 2026."","length":760,"tagName":"p"},{"type":"text","content":"Strategic Rationale and Benefits to Chimera Shareholders","length":56,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Highly Synergistic with Chimera’s Platform","length":42,"tagName":"p","attribs":{}},{"type":"list","items":[{"val":[{"type":"text","content":"The combination of HomeXpress’ non-QM origination platform and our loan management and advisory services is expected to create a tremendous cross-selling opportunity.","length":166,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Provides opportunity for Chimera to acquire and securitize loans on a direct basis.","length":83,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content...