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New York Mortgage Trust

Financials

Price	6.04	EPS	0
Shares	263	P/E	13
MCap	1,586	P/FCF	60
Net Debt	159	EBIT	635
TEV	1,746	TEV/EBIT	3
TTM 2019-09-30, in MM, except price, ratios

Filings

10-Q	2020-06-30	Filed 2020-08-10
10-Q	2020-03-31	Filed 2020-05-26
10-K	2019-12-31	Filed 2020-02-28
10-Q	2019-09-30	Filed 2019-11-07
10-Q	2019-06-30	Filed 2019-08-06
10-Q	2019-03-31	Filed 2019-05-07
10-K	2018-12-31	Filed 2019-02-25
10-Q	2018-09-30	Filed 2018-11-06
10-Q	2018-06-30	Filed 2018-08-06
10-Q	2018-03-31	Filed 2018-05-08
10-K	2017-12-31	Filed 2018-02-27
10-Q	2017-09-30	Filed 2017-11-07
10-Q	2017-06-30	Filed 2017-08-07
10-Q	2017-03-31	Filed 2017-05-09
10-K	2016-12-31	Filed 2017-02-28
10-Q	2016-09-30	Filed 2016-11-03
10-Q	2016-06-30	Filed 2016-08-05
10-Q	2016-05-05	Filed 2016-05-05
10-K	2015-12-31	Filed 2016-02-25
10-Q	2015-09-30	Filed 2015-11-05
10-Q	2015-06-30	Filed 2015-08-06
10-Q	2015-03-31	Filed 2015-05-07
10-K	2014-12-31	Filed 2015-02-27
10-Q	2014-09-30	Filed 2014-11-06
10-Q	2014-06-30	Filed 2014-08-07
10-Q	2014-03-31	Filed 2014-05-08
10-K	2013-12-31	Filed 2014-03-10
10-Q	2013-09-30	Filed 2013-11-08
10-Q	2013-06-30	Filed 2013-08-08
10-Q	2013-03-31	Filed 2013-05-10
10-K	2012-12-31	Filed 2013-03-18
10-Q	2012-09-30	Filed 2012-11-09
10-Q	2012-06-30	Filed 2012-08-09
10-Q	2012-03-31	Filed 2012-05-04
10-K	2011-12-31	Filed 2012-03-12
10-Q	2011-09-30	Filed 2011-11-04
10-Q	2011-06-30	Filed 2011-08-04
10-Q	2011-03-31	Filed 2011-05-05
10-K	2010-12-31	Filed 2011-03-04
10-Q	2010-09-30	Filed 2010-11-05
10-Q	2010-06-30	Filed 2010-08-04
10-Q	2010-03-31	Filed 2010-05-06
10-K	2009-12-31	Filed 2010-03-08

Reports

8-K	2020-08-05	Earnings, Regulation FD, Exhibits
8-K	2020-07-06	Officers
8-K	2020-06-29	Shareholder Vote
8-K	2020-06-15
8-K	2020-05-21
8-K	2020-05-04
8-K	2020-04-24
8-K	2020-04-20
8-K	2020-03-23
8-K	2020-02-24
8-K	2020-02-10
8-K	2020-02-10
8-K	2020-01-07
8-K	2019-12-10
8-K	2019-11-27
8-K	2019-11-19
8-K	2019-11-05
8-K	2019-10-28
8-K	2019-10-18
8-K	2019-10-10
8-K	2019-10-10
8-K	2019-09-18
8-K	2019-09-10
8-K	2019-09-09
8-K	2019-08-05
8-K	2019-07-17
8-K	2019-07-17
8-K	2019-06-28
8-K	2019-06-14
8-K	2019-05-24
8-K	2019-05-08
8-K	2019-05-06
8-K	2019-04-22
8-K	2019-03-28
8-K	2019-03-19
8-K	2019-03-15
8-K	2019-02-26
8-K	2019-02-21
8-K	2019-01-08
8-K	2019-01-07
8-K	2018-12-04
8-K	2018-11-07
8-K	2018-11-05
8-K	2018-09-19
8-K	2018-09-17
8-K	2018-09-10
8-K	2018-08-09
8-K	2018-08-02
8-K	2018-06-18
8-K	2018-06-05
8-K	2018-06-04
8-K	2018-05-03
8-K	2018-04-20
8-K	2018-03-19
8-K	2018-03-15
8-K	2018-03-12
8-K	2018-02-20
8-K	2018-02-02

New York Mortgage Trust Earnings 2020-06-30

Balance Sheet	Income Statement	Cash Flow
Assets, Equity	Rev, G Profit, Net Income	Ops, Inv, Fin

Document

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2020

☐ 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 001-32216

NEW YORK MORTGAGE TRUST, INC.

(Exact Name of Registrant as Specified in Its Charter)



Maryland	47-0934168
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)

90 Park Avenue, New York, New York 10016

(Address of Principal Executive Office) (Zip Code)

(212) 792-0107

(Registrant’s Telephone Number, Including Area Code)



Title of Each Class	Trading Symbols)	Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per share	NYMT	NASDAQ	Stock Market
7.75% Series B Cumulative Redeemable Preferred Stock, par value $0.01 per share, $25.00 Liquidation Preference	NYMTP	NASDAQ	Stock Market
7.875% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share, $25.00 Liquidation Preference	NYMTO	NASDAQ	Stock Market
8.000% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share, $25.00 Liquidation Preference	NYMTN	NASDAQ	Stock Market
7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share, $25.00 Liquidation Preference	NYMTM	NASDAQ	Stock Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):



Large Accelerated Filer	☒	Accelerated Filer	☐	Non-Accelerated Filer	☐	Smaller Reporting Company	☐	Emerging Growth Company	☐

Table of Contents

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

The number of shares of the registrant’s common stock, par value $0.01 per share, outstanding on August 7, 2020 was 377,744,476.

NEW YORK MORTGAGE TRUST, INC.

FORM 10-Q



PART I. Financial Information
	Item 1. Condensed Consolidated Financial Statements
	Condensed Consolidated Balance Sheets as of June 30, 2020 (Unaudited) and December 31, 2019	4
	Unaudited Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2020 and 2019	5
	Unaudited Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2020 and 2019	6
	Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three and Six Months Ended June 30, 2020 and 2019	7
	Unaudited Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2020 and 2019	9
	Unaudited Notes to the Condensed Consolidated Financial Statements	11
	Note 1. Organization	11
	Note 2. Summary of Significant Accounting Policies	13
	Note 3. Investment Securities Available For Sale, at Fair Value	20
	Note 4. Residential Loans, at Fair Value	24
	Note 5. Residential Loans, Net	28
	Note 6. Consolidated K-Series	31
	Note 7. Investments in Unconsolidated Entities	33
	Note 8. Preferred Equity and Mezzanine Loan Investments	36
	Note 9. Use of Special Purpose Entities (SPE) and Variable Interest Entities (VIE)	37
	Note 10. Derivative Instruments and Hedging Activities	41
	Note 11. Repurchase Agreements	43
	Note 12. Debt	46
	Note 13. Commitments and Contingencies	48
	Note 14. Fair Value of Financial Instruments	49
	Note 15. Stockholders' Equity	59
	Note 16. Earnings (Loss) Per Common Share	62
	Note 17. Stock Based Compensation	64
	Note 18. Income Taxes	68
	Note 19. Subsequent Events	70
	Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	71
	Item 3. Quantitative and Qualitative Disclosures about Market Risk	116
	Item 4. Controls and Procedures	121
PART II. OTHER INFORMATION
	Item 1A. Risk Factors	122
	Item 6. Exhibits	123

SIGNATURES		126

Table of Contents

PART I. FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements

The accompanying notes are an integral part of the condensed consolidated financial statements.

Table of Contents

NEW YORK MORTGAGE TRUST, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Dollar amounts in thousands, except share data)



	June 30, 2020		December 31, 2019
	(unaudited)
ASSETS
Investment securities available for sale, at fair value	$	960,808	$	2,006,140
Residential loans, at fair value	2,758,228		2,758,640
Residential loans, net	—		202,756
Investments in unconsolidated entities	214,289		189,965
Preferred equity and mezzanine loan investments	180,850		180,045
Multi-family loans held in securitization trusts, at fair value	—		17,816,746
Derivative assets	—		15,878
Cash and cash equivalents	371,697		118,763
Goodwill	—		25,222
Receivables and other assets	130,858		169,214
Total Assets ⁽¹⁾	$	4,616,730	$	23,483,369
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Repurchase agreements	$	963,127	$	3,105,416
Securitized debt	108,999		—
Multi-family collateralized debt obligations, at fair value	—

EX-31.1	ex311june2020.htm
EX-31.2	ex312june20q2.htm
EX-32.1	ex321june2020.htm

NYMT 10Q Quarterly Report

New York Mortgage Trust Earnings 2020-06-30