Chimera Investment Corporation · NYSE:CIM
Chimera Investment — Merger or Acquisition (June 2025)
13 slides from Chimera Investment's merger presentation, June 2025
Slide 1: Overview of Definitive Agreement to Acquire HomeXpress Mortgage Corp
PROPRIETARY & CONFIDENTIAL Overview of Definitive Agreement to Acquire HomeXpress Mortgage Corp JUNE | 2025
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, including as related to the expected timing of the closing of Chimera’s acquisition of HomeXpress
Slide 3: Contents
Contents TRANSACTION OVERVIEW 3 STRATEGIC RATIONALE 4 HOMEXPRESS AT-A-GLANCE 5 FREQUENTLY ASKED QUESTIONS (FAQs) 8 SELECT FOOTNOTES 12 JUNE.2025 | TRANSACTION SUMMARY 2
Slide 4: Transaction Overview
Transaction Overview The acquisition of HomeXpress adds scaled non-QM loan origination capability to Chimera’s residential credit platform 1. ▪ Chimera has entered into a definitive agreement to acquire HomeXpress Mortgage Corp (“HomeXpress”) (1) TRANSACTION OVERVIEW ▪ HomeXpress is a leading nation
Slide 5: Strategic Rationale
Strategic Rationale Transaction further anchors Chimera’s position as a leader in the residential credit sector 1. ▪ HomeXpress is a leading nationwide lending platform with more than $10.7 billion of loans originated since 2016 ADDS SCALED NON-QM LENDING FRANCHISE ▪ There are multiple growth channe
Slide 6: HomeXpress at-a-Glance
HomeXpress at-a-Glance The team’s experienced team of professionals have built a leading partner of choice for loan brokers and correspondent partners across the U.S. YEAR ESTABLISHED ▪ HomeXpress is led by Kyle Walker, President and CEO LEADERSHIP ▪ Several members of the senior management team hav
Slide 7: Large, Durable Market Opportunity Across Core Product Offerings
Large, Durable Market Opportunity Across Core Product Offerings INVESTORX LOAN PROGRAM PRIMEX PROGRAM COREX PROGRAM ▪ Typically, private investors with <10 properties ▪ 100% ATR compliant loan program ▪ 30- to 40-year first lien loans ▪ 30- to 40-year first lien loans ▪ 1 to 4-unit properties used f
Slide 8: HomeXpress Origination Volume Shows Proven Ability to Scale into Large Non-QM Addressable Market
HomeXpress Origination Volume Shows Proven Ability to Scale into Large Non-QM Addressable Market ANNUAL U.S. MORTGAGE HISTORICAL SHARE OF NON- CURRENT SHARE OF IMPLIED ANNUAL ORIGINATIONS(1) AGENCY LOANS(1) NON-AGENCY LOANS(1) ADDRESSABLE MARKET(1) $2.3 10% 3-4% $225 BILLION TRILLION HOMEXPRESS HIST
Slide 9: Frequently Asked Questions
Frequently Asked Questions 1. Why non-QM and why HomeXpress? Chimera is a leader in acquiring, financing and securitizing non-Agency residential mortgage loans. Currently, we have nearly $1 billion of non-QM loans on our balance sheet, and with the acquisition of The Palisades Group (Palisades), we
Slide 10: Frequently Asked Questions
Frequently Asked Questions 4. What is the strategic play for Chimera relative to the timing of this transaction and the current housing market environment? We believe the non-QM space has a significant runway. Historically, approximately 10% of the mortgage market has fallen outside the Agency and P
Slide 11: Frequently Asked Questions
Frequently Asked Questions 6. Are you planning to expand into other mortgage lending products? If so, through HomeXpress? Or additional acquisitions? Currently, HomeXpress primarily originates first lien non-QM loans, but also originates a small number of Freddie, VA, and FHA loans, and is working t
Slide 12: Frequently Asked Questions
Frequently Asked Questions 10. What is the long-term strategic play of the acquisition as it relates to Chimera’s REIT and asset management businesses? We see this as a natural fit and tremendous cross-selling opportunity. Currently, HomeXpress sells loans to a variety of end investors, including in
Slide 13: Notes
Notes NOTES FROM SLIDE #5 1. Source: U.S. Census Bureau. Data as of June 30, 2024, Reflects inverse of published homeownership rate. 2. Source: John Burns Research and Consulting. Data as of March 31, 2024. 3. Source: Federal Reserve, U.S. Bureau of Labor Statistics. Data as of November 30, 2024. Re
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