Chimera Investment Corporation Announces Acquisition of HomeXpress Mortgage Corp. to Enhance Residential Credit Platform

Reuters
2025/06/12
Chimera Investment Corporation Announces Acquisition of HomeXpress Mortgage Corp. to Enhance Residential Credit Platform

NEW YORK-- Chimera Investment Corporation $(CIM)$ has announced a definitive agreement to acquire HomeXpress Mortgage Corp. The acquisition, announced on June 11, 2025, involves Chimera's taxable REIT subsidiary, Chimera Funding TRS, acquiring HomeXpress from affiliates of Seer Capital Management's credit fund business and certain management sellers. The transaction includes a combination of cash and 2,077,151 shares of Chimera common stock, with the purchase price reflecting HomeXpress's adjusted book value plus a premium of $120 million in cash and the specified shares. HomeXpress, a leading originator of various mortgage loan products, will continue operations as a subsidiary of Chimera, with its current management team, including President and CEO Kyle Walker, remaining in place. The acquisition is expected to close in the fourth quarter of 2025 and is anticipated to enhance Chimera's earnings in 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Chimera Investment Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20250612615527) on June 12, 2025, and is solely responsible for the information contained therein.

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