Cherry Hill Mortgage Investment Corp Dossier
Qualitative Analysis
Business overview
Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) is a residential real estate finance company structured as a real estate investment trust (REIT). The company is focused on acquiring, investing in, and managing a diversified portfolio of residential mortgage assets in the United States. Its primary objective is to generate attractive risk-adjusted total returns for its stockholders, primarily through dividend distributions and secondarily through capital appreciation. Cherry Hill operates through two primary reportable segments: Investments in Residential Mortgage-Backed Securities (RMBS) and Investments in Servicing Related Assets (which includes Mortgage Servicing Rights, or MSRs). The company is internally managed.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Transitioning from an externally managed structure to a fully integrated, internally managed mortgage REIT by terminating the management agreement with Cherry Hill Mortgage Management.
Expected impact: Aims to align management incentives directly with shareholder interests, eliminate external management fees, and improve long-term operational efficiency.
Actively managing and repositioning the RMBS and MSR portfolios, including shifting the RMBS portfolio towards the middle of the coupon stack and utilizing derivative instruments (interest rate swaps, TBAs, Treasury futures) to mitigate duration and interest rate risks.
Expected impact: Designed to protect book value, stabilize net interest income, and mitigate the negative effects of interest rate volatility.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Strategic Partnerships
Real Genius has developed a proprietary direct-to-consumer digital mortgage technology platform. The partnership is designed to enhance Cherry Hill's operational capabilities, improve recapture rates over time, and leverage digital platforms to reach a broader retail base.
Terms: Entered in May 2025 by CHMI Solutions, Inc. (a subsidiary of Cherry Hill). The initiative was supported by capital raised through Cherry Hill's at-the-market equity program, which generated approximately $8.9 million in proceeds in Q2 2025.