IVR.PC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-06

• •to-be-announced securities forward contracts (“TBAs”) to purchase Agency RMBS.

• During the periods presented in these condensed consolidated financial statements, we also invested in CMBS and RMBS that are not guaranteed by a U.S. government agency or a federally chartered corporation (“non-Agency CMBS” and “non-Agency RMBS”, respectively).

• Following a strong recovery in the second half of 2025 and impressive start to the new year, financial conditions deteriorated in the latter half of the first quarter, initially weakening as market volatility rose amid signs of a softening labor market. The decline accelerated following the outbreak…

• Inflation readings trended mostly higher during the first quarter, remaining above the Federal Reserve’s 2% target. The headline consumer price index (“CPI”) ended the quarter at 3.3%, up from 2.7% in December, reflecting a sharp rise in energy and commodity prices stemming from the outbreak of conf…

• The Federal Open Market Committee (“FOMC”) kept the benchmark Federal Funds target rate unchanged at both meetings during the quarter, citing a balance between the risks of a weakening labor market and persistently elevated inflation. Expectations for future monetary policy action, as reflected in t…

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• During the periods presented in this Quarterly Report, we also invested in:

• •CMBS that are not guaranteed by a U.S. government agency or a federally chartered corporation (“non-Agency CMBS”);

• •RMBS that are not guaranteed by a U.S. government agency or a federally chartered corporation (“non-Agency RMBS”);

• •to-be-announced securities forward contracts (“TBAs”) to purchase Agency RMBS;

• •a real estate-related financing arrangement in the form of an unconsolidated venture.

Text added vs the prior filing · source: 10-Q · 2026-05-06

• The sensitivity analysis table presented below shows the estimated impact of an instantaneous parallel shift in the yield curve, up and down 50 and 100 basis points, on the market value of our interest rate-sensitive instruments and book value per common share as of March 31, 2026 and December 31, 2…

• (1)Estimated percentage change in market value consists of changes in the fair value of MBS, changes in the implied market value of TBAs and changes in the clean price of interest rate swaps and U.S. Treasury futures contracts.

• Certain assumptions have been made in connection with the calculation of the information set forth in the foregoing interest rate sensitivity table and, as such, there can be no assurance that assumed events will occur or that other events will not occur that would affect the outcomes. The informati…

• The sensitivity analysis table presented below shows the estimated impact of an instantaneous change in Agency MBS spreads, up and down 10 and 20 basis points, on the market value of our investments and our book value per common share as of March 31, 2026 and December 31, 2025. Sensitivity to change…

• (1)Estimated percentage change in market value consists of changes in the fair value of MBS and changes in the implied market value of TBAs.

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• The estimated fair value of our securities fluctuates primarily due to changes in interest rates and other factors. Generally, in a rising interest rate environment, the estimated fair value of these securities would be expected to decrease; conversely, in a falling interest rate environment, the es…

• Pandemics and other widespread crises, including any related fiscal or monetary policy responses, may cause extreme volatility and illiquidity in fixed income markets. The amount of financing we receive under our repurchase agreements is directly related to our counterparties’ valuation of our asset…

• The sensitivity analysis table presented below shows the estimated impact of an instantaneous parallel shift in the yield curve, up and down 50 and 100 basis points, on the market value of our interest rate-sensitive investments and net interest income, including net interest paid or received under …

• Change in Interest RatesPercentage Change in Projected Net Interest IncomePercentage Change in Projected Portfolio ValuePercentage Change in Projected Net Interest IncomePercentage Change in Projected Portfolio Value

• Certain assumptions have been made in connection with the calculation of the information set forth in the foregoing interest rate sensitivity table and, as such, there can be no assurance that assumed events will occur or that other events will not occur that would affect the outcomes. The interest …

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• officer, as appropriate to allow timely decisions regarding required disclosure.