Chimera Investment Corporation Sponsors Residential Mortgage Loan Securitizations

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[{"type":"text","content":"NEW YORK, March 25, 2025--(BUSINESS WIRE)--Chimera Investment Corporation (NYSE: CIM) announced that on March 25, 2025 it had sponsored two securitizations of residential mortgage loans with an aggregate principal balance of $646 million. The mortgage loans for both securitizations were sourced from the redemption of prior Chimera-sponsored securitizations, including CIM 2021-NR1, CIM 2021-NR2, CIM 2021-NR3, CIM 2021-NR4, CIM 2022-NR1, CIM 2023-NR1, and CIM 2023-NR2. Net proceeds received from the transactions were in excess of $187 million.","length":547,"tagName":"p"},{"type":"text","content":"Chimera sponsored CIM 2025-R1, a $391.8 million securitization of residential mortgage loans. The loans had a weighted average coupon of 5.74%, with weighted average FICO scores of 636, and LTV ratio of 50.80%. Securities issued by CIM 2025-R1, with an aggregate balance of approximately $333 million, were sold in a private placement to institutional investors. These senior securities represented approximately 85% of the capital structure. Chimera retained subordinate interests in securities with an aggregate balance of approximately $58.8 million and certain interest-only securities. Chimera also retained an option to call the securitized mortgage loans on the earlier of (i) March 25, 2027, or (ii) when the aggregate note amount of the offered notes is less than or equal to 10% of the aggregate note amount of the offered notes as of March 25, 2025. The weighted average cost of debt on securities sold was 5.74%. Palisades Advisory Services, a wholly owned subsidiary of Chimera Investment Corporation, will act as Asset Manager for the securitization.","length":1064,"tagName":"p"},{"type":"text","content":"Chimera also sponsored CIM 2025-NR1, a $254.4 million securitization of residential mortgage loans. The loans had a weighted average coupon of 5.67%, with weighted average FICO scores of 597, and LTV ratio of 61.61%. Securities issued by CIM 2025-NR1, with an aggregate balance of approximately $184.5 million, were sold in a private placement to institutional investors. These senior securities represented approximately 72.50% of the capital structure. Chimera retained subordinate interests in securities with an aggregate balance of approximately $70.0 million. Chimera also retained an option to call the securitized mortgage loans, at the d...

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