Company Name: Atrium Mortgage Investment Corporation

Highlights Lending increased 486% YoY in Q2 amid a strong rebound in real estate activities....

Highlights AI’s interest collections have been in line with historical rates through the pandemic....

Interest payment collections have been in line with historical rates through the pandemic. As of February 9, 2021, Atrium had collected 98% of its mortgage interest due in January. Announced a $0.02 special dividend, bringing 2020 dividends to $0.92 per share, exactly in line with our estimate.

Atrium’s Interest payment collections have been in line with historical rates through the pandemic. After a quiet Q2, the company ramped up lending in Q3; net mortgages outstanding increased 2.8% QoQ; management expects Q4 to be much stronger and lend approximately $100M in the quarter vs $48M in Q3 and $16M in Q2.

Q2-2020 results beat our expectations as COVID-19 had minimal impact on Atrium Mortgage Investment Corporation’s portfolio in the quarter. As of July 28, 2020, AI had collected 96% of the mortgage interest due in July, in line with historical collection rates.