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Altisource Asset Management(AAMC) - 2023 Q1 - Quarterly Report
AAMCAltisource Asset Management(AAMC)2023-05-14 16:00
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Financial Performance - Loan interest income for Q1 2023 was 2.0million,comparedto2.0 million, compared to 0 in Q1 2022[89] - Loan fee income for Q1 2023 was 0.1million,withnoincomeinQ12022[89]−Realizedgainsonloansheldforsale,net,were0.1 million, with no income in Q1 2022[89] - Realized gains on loans held for sale, net, were 10,000 in Q1 2023, with no gains in Q1 2022[89] - Interest expenses for Q1 2023 were 1.1million,withnointerestexpenserecordedinQ12022[94]−TotalcashflowsforQ12023were1.1 million, with no interest expense recorded in Q1 2022[94] - Total cash flows for Q1 2023 were 1.1 million, compared to a negative 23.97millioninQ12022[104]StaffingandExpenses−Salariesandemployeebenefitsincreasedto23.97 million in Q1 2022[104] Staffing and Expenses - Salaries and employee benefits increased to 1.9 million in Q1 2023 from 0.9millioninQ12022,primarilyduetotheadditionofloanoperationsandALGstaff[90]LoansandInvestments−LoansheldforsaleatfairvalueasofMarch31,2023,totaled0.9 million in Q1 2022, primarily due to the addition of loan operations and ALG staff[90] Loans and Investments - Loans held for sale at fair value as of March 31, 2023, totaled 13.5 million[100] - Loans held for investment at fair value as of March 31, 2023, amounted to 65.3million[101]CashPosition−Cashandcashequivalentsincreasedto65.3 million[101] Cash Position - Cash and cash equivalents increased to 11.8 million as of March 31, 2023, from 10.7millionasofDecember31,2022[97]ShareRepurchase−Thecompanyhasrepurchased10.7 million as of December 31, 2022[97] Share Repurchase - The company has repurchased 273.1 million in shares under its repurchase plan, with $26.9 million remaining available for future repurchases[103]