AG Mortgage continues move away from agency paper

Book value per share of $19.14 is off $0.12 from Q3 (after $0.60 dividend payment). Last night's close of $17.61 puts the stock at an 8% discount to Dec. 31 book.

Investment portfolio of $3.7B compares to $3.9B in Q3, with shift away from agency MBS continuing - that paper now makes up 65.1% of the book vs. 71% in Q3. Company expects to continue to grow credit-related assts. Leverage of 4.42:1 vs 4.53:1.

Net interest margin of 2.46% is up 34 basis points from Q3, with CPR falling to 6.2% from 10.5%.

CC at 10 ET

MITT no trades premarket

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