Chimera Investment Corporation (NYSE:CIM) Q2 2023 Earnings Call Transcript

Dan Thakkar: Yeah. So, Trevor, so as you said, there is a strong likelihood that mortgage banks will have to earn more capital against residential mortgage pools. So this should push more residential mortgage origination to non-backward originators and result in more private label securitization. We will see those opportunities in the future. As you said, one thing I will say that even without that we are being shown large inventories of discounted underwater mortgages given the consolidation going on in the banking space. At this point, the opportunity that we are seeing is primarily in the prime jumbo, low LTV kind of paper.

Trevor Cranston: Okay. Got it. Appreciate that. Thank you.

Operator: At this time, there are no further questions. I would like to turn the call back over to management for any closing remarks.

Phil Kardis: Hi. This is Phil Kardis. Thank you for participating in Chimera Investment Corporation’s second quarter earnings call and we look forward to discussing our third quarter earnings call in November. Thank you.

Operator: Thank you everyone for attending the Chimera earnings call. That does conclude today’s call. Have a wonderful rest of your day.