Financial Performance - The company reported a GAAP net loss of $0.29 per share[7] - Earnings Available for Distribution (EAD) was $0.17 per share[7] - The book value per common share decreased by 6.3% to $3.58, net of the quarterly dividend[8] - A dividend of $0.15 per share was declared and paid[8] - The company experienced a 2.4% total quarterly economic loss[8] Portfolio Metrics - The company's leverage ratio for the aggregate portfolio was 5.2x[8] - The net interest spread for RMBS was 3.6%[8] - The weighted average Constant Prepayment Rate (CPR) for RMBS was 5.8%[7] - The net CPR for Mortgage Servicing Rights (MSRs) was 4.1%[7] Asset Composition - As of March 31, 2025, 76% of the asset investment composition (excluding cash) was in 30 Year RMBS and 24% was in MSRs[15]

Exhibit 99.1 CHERRY HILL MORTGAGE INVESTMENT CORPORATION ANNOUNCES FIRST QUARTER 2025 RESULTS TINTON FALLS, NJ – May 6, 2025 — Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) ("Cherry Hill" or the "Company") today reported results for the first quarter 2025. First Quarter 2025 Highlights "We were pleased to complete our first full quarter as an integrated, internally managed mortgage REIT," said Jay Lown, President and CEO of Cherry Hill Mortgage Investment Corporation. "Looking ahead, while we clo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to ________ Commission file number 001-36099 Securities registered pursuant to Section 12(b) of the Act: CHERRY HILL MORTGAGE INVESTMENT CORPORATION ( ...

Cherry Hill Mortgage Investment Corporation (NYSE: CHMI ) is a real estate investment trust that invests in residential mortgages, or an mREIT. The company's common shares offer a high-yield dividend, and the company has two high yielding preferred shares, one yielding over 11% (About My Writing: I am currently focused on income investing through either common shares, preferred shares, or bonds. I will occasionally break away and write about the economy at large or a special situation involving a company I' ...

Financial Data and Key Metrics Changes - For Q4 2024, the company generated GAAP net income applicable to common stockholders of $9.1 million or $0.29 per diluted share, while earnings available for distribution (EAD) were $3.3 million or $0.10 per share, impacted by approximately two cents per share of expenses related to the special committee's efforts [12][25][26] - Book value per common share decreased to $3.82 from $4.02 as of September 30, 2024, with NAV down approximately $5.5 million or 2.3% relative to the previous quarter [13][26] - Financial leverage remained consistent at 5.3 times, with $46 million of unrestricted cash on the balance sheet, indicating a solid liquidity profile [14] Business Line Data and Key Metrics Changes - The MSR portfolio had a UPB of $17.3 billion and a market value of approximately $234 million, representing about 46% of equity capital and 24% of invested assets excluding cash [19] - The RMBS portfolio accounted for approximately 38% of equity capital, with prepayment speeds for both MSR and RMBS portfolios remaining steady compared to the prior quarter [20][22] - The RMBS portfolio's weighted average three-month CPR was approximately 5.7%, up from 5.4% in the third quarter, with the portfolio's net interest spread at 2.9% lower than the prior quarter [22][23] Market Data and Key Metrics Changes - Long-term yields rose to seven-month highs, with the ten-year yield ending at 4.57%, nearly eighty basis points higher quarter over quarter, driven by concerns over persistent inflation [7][8] - The relationship between short and longer-dated rates has been highly reactive to political agendas and domestic economic data, impacting the company's RMBS portfolio [8] Company Strategy and Development Direction - The company completed the internalization of management, which is expected to reduce operating expenses in 2025 by $1.1 million to $1.6 million, enhancing alignment between management and shareholders [9][11] - The investment strategy will continue to focus on agency RMBS and select MSRs that present strong risk-adjusted return profiles while maintaining strong liquidity and prudent leverage [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the macroeconomic and geopolitical environment, anticipating fewer rate cuts in 2025 than previously expected, and indicated that the investment strategy will remain data-dependent [8][14] - The company expects continued volatility in the near term, with rates likely to remain higher until inflation shows signs of moderating or economic growth falters [18] Other Important Information - Operating expenses for the quarter were $4.5 million, including special committee-related expenses, and dividends declared included $0.15 per common share for Q4 2024 [28] Q&A Session Summary Question: Clarification on special committee expenses and internalization benefits - Management confirmed that special committee expenses were included in the SG&A line item and that benefits from internalization would be reflected in SG&A and compensation moving forward [31][33] Question: Expectations for repo costs and portfolio growth - Management noted that elevated repo costs were partly year-end expenses but have since decreased, and they expect to grow the portfolio through capital raising [35][36][42] Question: Capital allocation between MSR and RMBS - Management indicated that the increase in servicing equity was due to a rise in MSR values rather than new purchases, and they will continue to favor RMBS for better returns in the current environment [48][51] Question: Impact of Fed rate cuts on investment strategy - Management acknowledged that expectations for rate cuts could influence their investment decisions, particularly regarding the MSR portfolio, which has higher financing costs [55][57] Question: Current refinanceability and spec pools - Management estimated that about 5-10% of the market is refinanceable, with a need for mortgage rates to drop further to stimulate significant refinancing activity [71][73]

Financial Data and Key Metrics Changes - For Q4 2024, the company generated GAAP net income applicable to common stockholders of $9.1 million or $0.29 per diluted share, while earnings available for distribution (EAD) were $3.3 million or $0.10 per share, impacted by approximately two cents per share of special committee-related expenses [12][25][26] - Book value per common share decreased to $3.82 from $4.02 as of September 30, 2024, with NAV down approximately $5.5 million or 2.3% relative to the previous quarter [13][26] - Financial leverage remained consistent at 5.3 times, with $46 million of unrestricted cash on the balance sheet [14] Business Line Data and Key Metrics Changes - The MSR portfolio had a UPB of $17.3 billion and a market value of approximately $234 million, representing about 46% of equity capital [19] - The RMBS portfolio accounted for approximately 38% of equity capital, with a weighted average three-month CPR of approximately 5.7% compared to 5.4% in the previous quarter [22][23] - The RMBS net interest spread was 2.9% lower than the prior quarter due to improved repo costs being offset by a reduction in swap and dollar roll income [23] Market Data and Key Metrics Changes - Long-term yields rose to seven-month highs, with the ten-year yield ending at 4.57%, nearly eighty basis points higher quarter over quarter [7] - Mortgage spreads widened and volatility increased due to concerns about the US election and future debt levels, despite two rate cuts by the Fed [16] - Prepayment speeds for the MSR portfolio averaged approximately 4.7% for Q4, down modestly from the previous quarter, while RMBS prepayment speeds rose modestly as expected [20][22] Company Strategy and Development Direction - The company completed the internalization of management, which is expected to reduce operating expenses in 2025 by $1.1 million to $1.6 million [9][11] - The investment strategy will continue to focus on agency RMBS and select MSRs that present strong risk-adjusted return profiles while maintaining strong liquidity and prudent leverage [14][15] - The company remains cautious of the macroeconomic environment and geopolitical factors, expecting to maintain its current investment strategy [8] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns over persistent inflation and uncertainty about economic growth, indicating that additional rate cuts in 2025 will be fewer than previously expected [8] - The company anticipates continued volatility in the near term, with rates expected to remain higher until inflation shows signs of moderating or economic growth falters [18] - Management highlighted the importance of aligning management and shareholder interests through internalization, improving transparency and decision-making processes [10] Other Important Information - Operating expenses for the quarter were $4.5 million, including special committee-related expenses [28] - The board declared a dividend of $0.15 per common share for Q4 2024, paid in cash on January 31, 2025 [28] Q&A Session Summary Question: Special committee expenses and internalization benefits - The special committee expenses were found in the SG&A line item, and benefits from internalization will be reflected in SG&A and compensation and benefits going forward [31][33] Question: Repo costs and portfolio growth - Elevated repo costs were attributed to year-end expenses, but benefits have been seen in the first quarter, with potential for growth through capital raising [35][36][42] Question: Capital allocation between investment bins - The increase in servicing equity composition was due to an increase in MSR value, with a focus on RMBS for better returns in the current environment [48][51] Question: Expectations for Fed rate cuts - Expectations for fewer rate cuts this year may impact investment strategies, with a focus on the MSR portfolio's returns if rates drop [56][57] Question: Refinance activity and spec pools - Current refinanceability stands at about 5-10%, with a need for mortgage rates to drop to around 5.7%-5.8% for significant refinancing activity [71][73]

Group 1 - Cherry Hill Mortgage Investment Corporation held its Fourth Quarter 2024 Earnings Conference Call on March 6, 2025 [1] - The call featured key participants including the President and CEO, Chief Investment Officer, and CFO [1][2] - A press release and investor presentation were made available on the company's website prior to the call [3] Group 2 - Management's remarks included forward-looking statements that are subject to risks and uncertainties [4] - Forward-looking statements encompass estimates related to interest income, financial guidance, and future expected cash flows [4][5]

Legal Disclaimer Investor Presentation Fourth Quarter 2024 FORWARD-LOOKING STATEMENTS. Certain statements in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, references to: potential or expected future cash flows; estimated or expected returns, sometimes referred to as initial IRR, updated IRR, expected IRR, or current-to-maturity IRR; potential discount rates; potential future investments; e ...

Cherry Hill Mortgage (CHMI) came out with quarterly earnings of $0.10 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.17 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this residential real estate finance company would post earnings of $0.14 per share when it actually produced earnings of $0.08, delivering a surprise of -42.86%.Over the last four quarters, the company has not been able to surpass consensus EP ...

Company Overview - The company operates as a fully integrated, internally managed residential real estate finance company focused on acquiring, investing in, and managing residential mortgage assets in the U.S.[56] - The company’s overall strategy is adaptable to changing market environments, subject to compliance with REIT qualification requirements[66] - The company aims to maintain its REIT status by distributing at least 90% of its annual REIT taxable income, which is essential to avoid U.S. federal income tax[80] Financial Performance - Interest income for the year ended December 31, 2024, was $55,798,000, an increase from $49,985,000 in 2023, representing a growth of approximately 3.6%[280] - Net interest income improved to $29,000 in 2024 from a loss of $1,657,000 in 2023, indicating a significant turnaround[280] - Total income for 2024 was $34,575,000, compared to a loss of $21,202,000 in 2023, marking a substantial recovery[280] - Net income applicable to common stockholders was $2,079,000 in 2024, a recovery from a loss of $44,647,000 in 2023[280] - The company recognized a realized loss on RMBS of $6,595,000 in 2024, a significant improvement from a loss of $36,315,000 in 2023[280] - Unrealized loss on RMBS measured at fair value through earnings was $19,445,000 in 2024, compared to a gain of $9,755,000 in 2023, indicating volatility in asset valuations[280] - The provision for corporate business taxes increased to $4,102,000 in 2024 from $523,000 in 2023, reflecting higher tax obligations[280] - The company’s total expenses increased to $18,263,000 in 2024 from $13,730,000 in 2023, representing a rise of approximately 33.3%[280] Investment Strategy - The company’s strategy includes allocating a substantial portion of equity capital to the acquisition of Servicing Related Assets and RMBS, with a focus on leveraging investments[60] - The company may raise additional funds through equity or debt offerings as determined by its board of directors[73] - The company operates in a highly competitive market, competing with various financial institutions and mortgage REITs for investment opportunities[74] - The company’s strategy may be influenced by SEC guidance regarding investment company definitions, which could restrict its investment capabilities[88] Risks and Compliance - The company is subject to various risks including market volatility, interest rate fluctuations, and economic conditions that could adversely affect its ability to generate sufficient revenue for distributions[92] - The company relies on third-party servicers for servicing functions, exposing it to compliance risks with applicable laws[55] - The company is subject to numerous federal, state, and local laws and regulations regarding mortgage servicing rights (MSRs), which could lead to fines or penalties if compliance is not maintained[99] - The company’s organizational structure and reliance on leverage expose it to various operational and regulatory risks[54] - The company faces risks related to climate change, which could affect asset values and borrowers' ability to pay mortgages[151] - The increasing focus on ESG matters may lead to higher compliance costs and reduced access to capital, potentially impacting financial performance[152] Human Capital and Management - The company emphasizes human capital management by providing competitive wages, benefits, and professional development opportunities to attract and retain talent[76] - The transition to a self-managed company is expected to result in substantial cost savings and enhanced returns, but there are risks associated with realizing these benefits[157] - The company’s transition to self-management may incur additional costs related to hiring and retaining employees, which could impact financial results[159] Asset Management and Valuation - The company relies on analytical models for asset management, which may lead to incorrect valuations if the models are flawed or based on inaccurate data[116] - The value of Servicing Related Assets is highly sensitive to interest rate changes, with values typically increasing when rates rise and decreasing when they fall[106] - Changes in prepayment rates can adversely affect the performance of the company's assets, impacting cash flows and valuations[109] - The valuation of certain assets remains uncertain and may differ significantly from third-party valuations, particularly during market disruptions like the COVID-19 pandemic[120] Stockholder Considerations - The company must distribute at least 90% of its REIT taxable income to avoid corporate income tax, which could affect cash available for distribution to stockholders[188] - If the company fails to qualify as a REIT, it would be subject to federal income tax, significantly reducing cash available for stockholder distributions[186] - Future sales of common stock or convertible securities could lead to dilution of existing shares and negatively impact market value[178][179] - The company has not established a minimum distribution payment level, and future distributions may vary based on earnings and financial conditions[180] - Distributions may include a return of capital, which would reduce the tax basis of stockholders' investments[182] Operational Challenges - The company relies on third-party mortgage servicers for servicing mortgage loans, and any failure by these servicers could materially impact its financial performance[94] - The company is highly dependent on information technology, and any cybersecurity incidents could disrupt operations and negatively impact financial results[122] - Illiquidity of mortgage-related assets may hinder the ability to sell assets when needed, potentially leading to significant losses during financial stress[126] - Leverage is used to finance investments, which can magnify both gains and losses, impacting cash available for distribution to stockholders[127] - The company faces risks related to margin calls, which may require posting additional cash collateral and could jeopardize its REIT qualification[135] Market Conditions - Rising interest rates could decrease the volume of target assets, adversely affecting the ability to acquire assets that meet investment objectives and make distributions to stockholders[121] - Interest rate mismatches between assets and borrowings could adversely affect income during periods of changing interest rates[113] - An increase in delinquency rates on mortgage loans could significantly lower the net revenue from Servicing Related Assets, impacting cash flow projections[108]