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Chimera Investment Corporation (NYSE: CIM) ("Chimera") Completes Acquisition of HomeXpress Mortgage Corp.
NEW YORK, October 01, 2025--Chimera Investment Corporation (NYSE: CIM) ("Chimera") announced today that it has completed the previously announced acquisition of 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 origin
About this update from Chimera Investment Corporation
[{"type":"text","content":"NEW YORK, October 01, 2025--(BUSINESS WIRE)--Chimera Investment Corporation (NYSE: CIM) ("Chimera") announced today that it has completed the previously announced acquisition of 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":639,"tagName":"p"},{"type":"text","content":""The successful closing of this transaction is a major step in the continued evolution of Chimera," said Phillip J. Kardis II, President and Chief Executive Officer of Chimera. "We are excited to combine our talented teams and further establish our position as a leader in creating, managing and investing in residential credit assets. The addition of the HomeXpress team and expansion of our platform capabilities demonstrates our ongoing commitment to delivering long-term value to shareholders."","length":518,"tagName":"p"},{"type":"text","content":"Kyle Walker, Chief Executive Officer and President of HomeXpress said "We are extremely happy to join the Chimera team. This transaction further positions us for long-term success and enables our team to continue delivering exceptional solutions for our clients. We are excited to be a part of Chimera’s mission of providing long-term value to its shareholders."","length":372,"tagName":"p"},{"type":"text","content":"Key Transaction Details","length":23,"tagName":"p"},{"type":"text","content":"Under the terms of the agreement, Chimera caused its taxable REIT subsidiary, Chimera Funding TRS, to acquire HomeXpress from the Sellers for a combination of cash and 2,077,151 shares of Chimera common stock. The purchase price will be equal to a closing payment of $239.5 million comprised of estimated book value of $119.5 million (subject to customary post-closing adjustments as described in the definitive agreement), plus a premium consisting of $120 million in cash and 2,077,151 shares of Chimera common stock. HomeXpress will operate as a subsidiary of Chimera and Kyle Walker, the cur...