NEW YORK–(BUSINESS WIRE) – On February 25, 2021, Chimera Funding Company (NYSE: CIM) sponsored CIM 2021-R1, a $ 2.1 billion securitization of seasoned and performing residential mortgages, and CIM 2021-NR1, a securitization of $ 233 million. residential mortgage {dollars}. The mortgages for the 2 securitizations have been derived from the decision and collapse of Chimera’s CIM 2016-1, CIM 2016-2 and CIM 2016-3 securitizations (the “Prior Securitizations”).

The securities issued by CIM 2021-R1, with an combination stability of roughly $ 1.8 billion, have been bought in a non-public placement to institutional traders. These senior securities represented roughly 85% of the capital construction. Chimera retained subordinate pursuits in securities with a complete stability of roughly $ 315 million and sure interest-only securities. Chimera additionally retained an choice to name securitized mortgages at any time from February 2025.

The securities issued by CIM 2021-NR1, with an combination stability of roughly $ 163 million, have been bought via a non-public placement to institutional traders. These senior securities represented roughly 70% of the capital construction. Chimera has retained subordinate pursuits in securities with an combination stability of roughly $ 70 million. Chimera additionally retained an choice to name securitized mortgages at any time from February 2022.

The weighted common price of debt forecast by Chimera for these two securitizations is 2.04% in comparison with a weighted price of debt of 5.20% for earlier securitizations.

Warning

This press launch incorporates “forward-looking statements” inside the which means of the protected harbor provisions of the USA Personal Securities Litigation Reform Act of 1995. Precise outcomes could differ from expectations, estimates and projections and, due to this fact, readers don’t shouldn’t depend on these forward-looking statements as predictions of future occasions. Phrases corresponding to “anticipate”, “aim”, “assume”, “estimate”, “plan”, “price range”, “plan”, “anticipate”, “intend”, “plan”, ” could “,” will “,” may “,” ought to “,” imagine “,” predicted “,” potential “,” proceed “and comparable expressions are meant to establish such forward-looking statements. Readers are cautioned to not place undue reliance on forward-looking statements, which converse solely as of the date they have been made. Chimera neither undertakes nor accepts any obligation to publicly put up any updates or revisions to any forward-looking assertion to replicate any change in its expectations or any change of occasions, situations or circumstances upon which such an announcement is made. based mostly. Extra data relating to these and different threat elements is contained within the newest paperwork filed by Chimera with the Securities and Alternate Fee (SEC). All subsequent written and oral forward-looking statements relating to Chimera or issues attributable to Chimera or any individual appearing on its behalf are expressly certified of their entirety by the above cautionary statements.

About Chimera Funding Company

We’re a publicly traded REIT primarily engaged in investing, on a leveraged foundation, in a diversified portfolio of actual property belongings, together with mortgages, non-agency RMBS, CMBS businesses, RMBS businesses and different actual property belongings. .

Please go to www.chimerareit.com for extra details about the corporate.