AG Mortgage Investment Trust, Inc. (NYSE:MITT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On June 20, 2018, AG MIT WFB1 2014 LLC (“AG MIT WFB1”), a direct, wholly-owned subsidiary of AG Mortgage Investment Trust, Inc. (the “Company”), entered into Amendment Number Seven (the “Amendment”) to the Master Repurchase Agreement and Securities Contract, dated as of February11, 2014 and effective as of February18, 2014 (the “Repurchase Agreement”), with Wells Fargo Bank, National Association to finance AG MIT WFB1’s acquisition of beneficial interests in one or more pools of residential mortgage loans.
Among other things, the Amendment (i) increases the maximum aggregate borrowing capacity available under the Repurchase Agreement to $110 million and (ii) provides for a funding period ending June 14, 2019 and an expected facility termination date of June 15, 2020. The Amendment also provides for certain other covenant modifications.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which has been filed with this Current Report on Form 8-K as Exhibit 10.1. The foregoing description of the Repurchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Repurchase Agreement, which was filed with the Securities and Exchange Commission as Exhibit 99.1 to the Company’s Current Report on Form 8-K filed on February 21, 2014.
| Item 1.01 | Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth in Item 1.01 above with respect to the Amendment is incorporated into this Item 1.01 by reference.
| Item 1.01 | Financial Statements and Exhibits. |
AG Mortgage Investment Trust, Inc. ExhibitEX-10.1 2 tv496940_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 AMENDMENT NUMBER SEVEN to the Master Repurchase Agreement and Securities Contract Dated as of February 11,…To view the full exhibit click here
About AG Mortgage Investment Trust, Inc. (NYSE:MITT)
AG Mortgage Investment Trust, Inc. is a real estate investment trust (REIT). The Company is focused on investing in, acquiring and managing a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets, which the Company refers to as its target assets. It is also focused on investing in residential mortgage-backed securities (RMBS) issued or guaranteed by a government-sponsored enterprise, such as The Federal National Mortgage Association (Fannie Mae) or The Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, GSEs), or any agency of the United States Government, such as The Government National Mortgage Association (Ginnie Mae) (collectively Agency RMBS), and other real estate-related securities and financial assets, including Non-Agency RMBS, asset backed securities (ABS), commercial mortgage-backed securities (CMBS) and loans. The majority of its portfolio consists of mortgage-backed securities, specifically RMBS.
