News

Printer Friendly Version View printer-friendly version << Back
Nov 02, 2015

Cherry Hill Mortgage Investment Corporation Acquires First MSR Portfolio

MOORESTOWN, N.J.--(BUSINESS WIRE)--Nov. 2, 2015-- Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) (“Cherry Hill” or the “Company”), today reported that it had acquired mortgage servicing rights (“MSRs”) from an unaffiliated third party on a portfolio of mortgage loans with an aggregate unpaid principal balance of approximately $1.4 billion. Approximately 95% of the mortgage loans by principal balance are owned or have been securitized by Fannie Mae. The remaining mortgage loans are owned or have been securitized by Freddie Mac. The underlying mortgaged properties are located in all 50 states as well as the District of Columbia.

“We are pleased to accomplish our first MSR portfolio acquisition which represents a milestone for our Company and a significant step forward in becoming a more servicing-centric business,” said Jay Lown, President and CIO of the Company.

About Cherry Hill Mortgage Investment Corporation

Cherry Hill Mortgage Investment Corporation is a real estate finance company that acquires, invests in and manages residential mortgage assets in the United States. Cherry Hill Mortgage Investment Corporation is externally managed and advised by Cherry Hill Mortgage Management, LLC, which is an affiliate of Freedom Mortgage Corporation.

Forward-Looking Statements

This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including, among others, statements relating to the Company’s long-term growth opportunities and strategies, its ability to complete the pending Aurora transaction, its ability to execute on the anticipated strategy of purchasing full MSRs, expand its market opportunities and create its own Excess MSRs and its ability to generate sustainable and attractive risk-adjusted returns for stockholders. These forward looking statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur. For a description of factors that may cause the Company's actual results or performance to differ from its forward-looking statements, please review the information under the heading “Risk Factors” included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014, and other documents filed by the Company with the Securities and Exchange Commission.

Source: Cherry Hill Mortgage Investment Corporation

Cherry Hill Mortgage Investment Corporation
Investor Relations
877-870-7005
InvestorRelations@CHMIreit.com