Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Q3 2024 Earnings Conference Call November 12, 2024 5:00 PM ET

Company Participants

Garrett Edson - Investor Relations, ICR
Jay Lown - President and Chief Executive Officer
Julian Evans - Chief Investment Officer
Michael Hutchby - Chief Financial Officer

Conference Call Participants

Mikhail Goberman - Citizens JMP
Matt Howlett - B. Riley Securities

Operator

Ladies and gentlemen, thank you for standing by. My name is Desiree, and I will be your conference operator today. At this time, I would like to welcome everyone to the Cherry Hill Mortgage Investment Corporation’s Third Quarter 2024 Conference Call.

All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Garrett Edson of ICR. You may begin.

Garrett Edson

Thank you, Desiree. We’d like to thank you for joining us today for Cherry Hill Mortgage Investment Corporation’s third quarter 2024 conference call.

In addition to this call, we have issued a press release that was distributed earlier this afternoon and posted that press release and a third quarter 2024 Investor Presentation to the Investor Relations section of our website at, www.chmireit.com.

On today’s call, management’s prepared remarks and answers to your questions may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those discussed today. Examples of forward-looking statements include those related to our ability to complete the planned internalization of our management, interest income, financial guidance, IRRs, future expected cash flows as well as prepayment and recapture rates, delinquencies and non-GAAP financial measures such as earnings available for distribution or EAD and comprehensive income. Forward-looking statements represent management’s current estimates and Cherry Hill assumes no obligation to update any forward-looking statements in the future.

We encourage listeners to review the more detailed discussions related to these forward-looking statements contained in the company’s filings with the SEC and the definitions contained in the financial presentations available on the company’s website.

Today’s conference call is hosted by Jay Lown, President and CEO; Julian Evans, the Chief Investment Officer; and Michael Hutchby, the Chief Financial Officer.

Now, I will turn the call over to, Jay.

Jay Lown

Thanks, Garrett, and welcome to our third quarter 2024 earnings call.

The third quarter went somewhat as expected as the Fed utilized inflation indicators to go ahead and begin the rate cut cycle in September. While geopolitical unrest continued to persist, the market broadly looked past international troubles.