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SEC filingGAAP net loss narrowed significantly to $429K from a $7.0M loss YoY, driven by lower financing costs as rates declined, while operating cash flow strengthened substantially to $12.6M, underscoring portfolio cash generation resilience.
This quarter's results highlight effective cost management amid a volatile rate environment, with operating cash strength providing a buffer for ongoing investment activities and risk mitigation. Sources like RMBS repayments and MSR cash flows remain foundational, even as slower-than-expected prepayments could influence future yield accretion on discounted assets.