CHMI & MITT Merger Offers Long-Term Upside Potential – Quarterly Update Report
CHMI reported 3Q26 EAD of $0.14/share, up 34% y/y, with NII rising 37% y/y. Book value declined 13.6% q/q due to RMBS losses. The company trades at 4.5x 2026E EAD with a 15.4% dividend yield. The MITT merger is expected to provide long-term upside potential. MSR income remained stable despite portfolio runoff.





