Cherry Hill Mortgage Investment Business Summary

Cherry Hill Mortgage Investment Corp (CHMI) is a specialized real estate investment trust (REIT) that generates revenue primarily through interest income and servicing fees derived from its two core business segments: Investments in Residential Mortgage-Backed Securities (RMBS) and Investments in Servicing Related Assets. The RMBS segment focuses on acquiring and managing agency-backed securities, while the Servicing Related Assets segment centers on Mortgage Servicing Rights (MSRs), which provide a hedge against rising interest rates. Following its 2024 transition to an internally managed model, the company has focused on optimizing its cost structure and enhancing its earnings profile by eliminating external management fees. CHMI competes directly with larger mortgage REITs such as Annaly Capital Management (NLY), MFA Financial (MFA), PennyMac Mortgage Investment Trust (PMT), and Invesco Mortgage Capital (IVR), positioning itself as a nimble, small-cap player that prioritizes high-yield, risk-adjusted returns through active portfolio rebalancing and interest-rate hedging. The leadership team is anchored by President and CEO Jeffrey (Jay) B. Lown II, who has led the company since its 2013 IPO and brings over 30 years of experience from Freedom Mortgage, UBS Securities, and Salomon Brothers. He is supported by Chief Financial Officer Michael A. Hutchby and Chief Investment Officer Julian B. Evans, the latter of whom previously held senior roles at Freedom Mortgage and Deutsche Asset Management. The board of directors includes industry veterans such as Joseph Murin, former President of Ginnie Mae, and Dale Hoffman, who joined in 2025 with extensive expertise in fixed-income capital markets. The company maintains a strong institutional investor base, with significant holdings from major asset managers including Vanguard Group, BlackRock, and Renaissance Technologies, reflecting its standing as a transparent, internally managed entity within the residential finance sector.