News - HomeXpress Mortgage

Chimera Investment Corporation (NYSE: CIM) (“Chimera”) Completes Acquisition of HomeXpress Mortgage Corp.

NEW YORK--(BUSINESS WIRE)-- Chimera Investment Corporation (NYSE: CIM) (“Chimera”) announced today that it has completed the previously announced acquisition of HomeXpress Mortgage Corp. (“HomeXpress”) from certain affiliates of Seer Capital Management’s credit fund business (“Seer”) and certain management sellers (together with Seer, the “Sellers”). HomeXpress is a leading originator of consumer non-QM, investor business purpose, and other non-Agency mortgage loan products, as well as an originator of Agency mortgage loans with a nationwide presence across 46 states and D.C.

“The successful closing of this transaction is a major step in the continued evolution of Chimera,” said Phillip J. Kardis II, President and Chief Executive Officer of Chimera. “We are excited to combine our talented teams and further establish our position as a leader in creating, managing and investing in residential credit assets. The addition of the HomeXpress team and expansion of our platform capabilities demonstrates our ongoing commitment to delivering long-term value to shareholders.”

Kyle Walker, Chief Executive Officer and President of HomeXpress said “We are extremely happy to join the Chimera team. This transaction further positions us for long-term success and enables our team to continue delivering exceptional solutions for our clients. We are excited to be a part of Chimera’s mission of providing long-term value to its shareholders.”

Key Transaction Details

Under the terms of the agreement, Chimera caused its taxable REIT subsidiary, Chimera Funding TRS, to acquire HomeXpress from the Sellers for a combination of cash and 2,077,151 shares of Chimera common stock. The purchase price will be equal to a closing payment of $239.5 million comprised of estimated book value of $119.5 million (subject to customary post-closing adjustments as described in the definitive agreement), plus a premium consisting of $120 million in cash and 2,077,151 shares of Chimera common stock. HomeXpress will operate as a subsidiary of Chimera and Kyle Walker, the current President and CEO, along with key members of the senior management team will continue to manage HomeXpress.

Advisors

Wells Fargo acted as the exclusive financial advisor to Chimera. Hunton Andrews Kurth LLP served as legal counsel and Alston & Bird LLP served as regulatory counsel to Chimera. Piper Sandler & Co. acted as the exclusive financial advisor to HomeXpress and Seer. Mayer Brown LLP served as legal counsel to Seer. Sheppard, Mullin, Richter & Hampton LLP served as legal counsel to HomeXpress management.

About HomeXpress

HomeXpress, headquartered in Santa Ana, California, offers a wide array of consumer non-QM loans, investor business purpose loans, and other Agency and non-Agency mortgage loan products. HomeXpress has approximately 300 employees and actively lends in 46 states and D.C. HomeXpress originated approximately $2.5 billion of mortgage loans in 2024 and approximately $1.2 billion of mortgage loans year-to-date through May 2025, making it one of the largest wholesale non-QM originators in the U.S. and bringing its lifetime origination volume to over $10.7 billion.

About Chimera Investment Corporation

Chimera is a publicly traded real estate investment trust, or REIT, whose principal business objective is to provide attractive risk-adjusted returns and distributable income through investment performance linked to mortgage credit fundamentals. Chimera is primarily engaged in the business of investing for its own account and on behalf of third-party clients through its investment management and advisory services activities. Chimera invests, directly or indirectly, generally on a levered basis in diversified portfolios of mortgage assets, including residential mortgage loans, Non-Agency RMBS, Agency RMBS, Agency CMBS, MSRs, business purpose and investor loans, including RTLs, and other real estate-related assets.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, including as related to the expected impact (including as related to Chimera’s future earnings) of the transaction. Actual results may differ from expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as “goal,” “expect,” “target,” “assume,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “would,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” or similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among other things, those described in our most recent Annual Report on Form 10-K, and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, under the caption “Risk Factors.” Factors that could cause actual results to differ include, but are not limited to: the potential that Chimera may not fully realize the expected benefits of the acquisition of HomeXpress, including the potential financial impact; our ability to obtain funding on favorable terms and access the capital markets; our ability to achieve optimal levels of leverage and effectively manage our liquidity; changes in inflation, the yield curve, interest rates and mortgage prepayment rates; our ability to manage credit risk related to our investments and comply with the Dodd-Frank Act and related laws and regulations relating to credit risk retention for securitizations; rates of default, delinquencies, forbearance, deferred payments or decreased recovery rates on our investments; the concentration of properties securing our securities and residential loans in a small number of geographic areas; our ability to execute on our business and investment strategy; our ability to determine accurately the fair market value of our assets; changes in our industry, the general economy or geopolitical conditions; our ability to successfully integrate and realize the anticipated benefits of any acquisitions, including the acquisition of the Palisades Group in 2024 and the acquisition of HomeXpress; our ability to operate our investment management and advisory services and manage any regulatory rules and conflicts of interest; the degree to which our hedging strategies may or may not be effective; our ability to effect our strategy to securitize residential mortgage loans; our ability to compete with competitors and source target assets at attractive prices; our ability to find and retain qualified executive officers and key personnel; the ability of servicers and other third parties to perform their services at a high level and comply with applicable law and expanding regulations; our dependence on information technology and its susceptibility to cyber-attacks; our ability to comply with extensive government regulation; the impact of and changes in governmental regulations, tax law and rates, accounting guidance, and similar matters; our ability to maintain our exemption from registration under the Investment Company Act of 1940, as amended; our ability to maintain our classification as a real estate investment trust for U.S. federal income tax purposes; the volatility of the market price and trading volume of our shares; and our ability to make distributions to our stockholders in the future.

Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Chimera does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Additional information concerning these and other risk factors is contained in Chimera’s most recent filings with the Securities and Exchange Commission (SEC). All subsequent written and oral forward-looking statements concerning Chimera or matters attributable to Chimera or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.

Readers are advised that any financial information in this press release is based on company data available at the time of this presentation and, in certain circumstances, may not have been audited by Chimera’s independent auditors.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251001289277/en/

Investor Relations
888-895-6557
investor-relations@chimerareit.com
www.chimerareit.com

Source: Chimera Investment Corporation
Released October 1, 2025

HomeXpress Mortgage Corp. Announces Definitive Agreement to be Acquired by Chimera Investment Corporation

SANTA ANA, CA — June 12, 2025

HomeXpress Mortgage Corp. ("HomeXpress"), a leading national originator of non-QM and business-purpose residential mortgage loans, today announced that it has entered into a definitive agreement to be acquired by Chimera Investment Corporation (NYSE: CIM) ("Chimera") from certain affiliates of Seer Capital Management's credit fund business ("Seer") and certain management sellers.

HomeXpress will operate as a subsidiary of Chimera under the continuing leadership of President and CEO Kyle Walker and the experienced HomeXpress management team.

"We are honored to join the Chimera organization and to advance our shared commitment to delivering innovative lending solutions to borrowers", said Mr. Walker. "HomeXpress, with its reliable service-first philosophy, combined with its strong partnerships with brokers and loan officers nationwide, will now be even more well-positioned to expand its product offerings and strategically grow the HomeXpress presence. By combining platforms and assets, Chimera and HomeXpress are poised to deliver enhanced value to HomeXpress' borrowers and further strengthen its relationships with its many business partners."

Phillip J. Kardis II, Chimera's Chief Executive Officer and President added, "We are excited to welcome HomeXpress to the Chimera team and to form this powerful combination. This strategic acquisition marks a significant expansion of Chimera's presence in the non-QM space, reinforcing its role as a leading real estate investment trust."

Phil Weingord, Seer's Chief Executive Officer also added, "This is an exciting development for HomeXpress. We congratulate Kyle and the entire team and are proud of our collaboration and partnership with them. We have enjoyed working with management to build one of the premier non-QM mortgage platforms in the country, and we wish them continued success in HomeXpress' next chapter."

Piper Sandler & Co. acted as the exclusive financial advisor to HomeXpress and Seer. Mayer Brown LLP served as legal counsel to Seer. Sheppard, Mullin, Richter & Hampton LLP served as legal counsel to HomeXpress management. Wells Fargo acted as the exclusive financial advisor to Chimera. Hunton Andrews Kurth LLP served as legal counsel and Alston & Bird LLP served as regulatory counsel to Chimera.

About Chimera

Chimera is a publicly traded real estate investment trust, or REIT, that is primarily engaged in the business of investing for itself and for unrelated third parties through its investment management and advisory services in a diversified portfolio of real estate assets, including residential mortgage loans, Non-Agency RMBS, Agency RMBS, business purpose and investor loans, including RTLs, MSRs, and other real estate-related assets such as Agency CMBS, junior liens and HELOCs, equity appreciation rights, and reverse mortgages.

About HomeXpress

Lender Price and Byte LOS Announce Groundbreaking API Integration

by Erika Deer

PASADENA, Calif., (PRWEB) March 25, 2024

Lender Price, the industry-leading provider of innovative pricing, product and eligibility (PPE) technology and advanced capital markets solutions to the mortgage industry, is proud to announce its strategic API integration with the Byte LOS platform, an enterprise-class loan origination system, aimed at streamlining and enhancing the mortgage lending process for lenders and borrowers alike.

This integration marks a significant milestone in the mortgage industry, bringing together the advanced capabilities of Lender Price’s innovative technology with Byte’s robust loan origination platform. By seamlessly integrating their systems, Lender Price and Byte are empowering lenders to operate more efficiently, reduce operational costs, and deliver an unparalleled experience to borrowers.

Dawar Alimi, CEO of Lender Price, expressed enthusiasm about the collaboration, stating, “At Lender Price, we are dedicated to revolutionizing the mortgage industry through technology. Our integration with Byte continues our mission to provide lenders with the tools they need to thrive in today’s competitive market. By combining our powerful APIs, we are empowering lenders to streamline their workflows, improve accuracy, and ultimately deliver a superior lending experience.”

One of the early adopters of this integration, HomeXpress Mortgage, an industry-leading provider of non-QM lending products for over 8 years, and a valued client of Lender Price, has already experienced the benefits firsthand. “We prioritize leveraging cutting-edge technology to stay ahead in the industry,” said Kyle Walker, President and CEO at HomeXpress Mortgage Corp. “This integration will undoubtedly drive efficiency and improve our overall lending operations.”

Byte is equally excited about the collaboration and the value it brings to lenders. Mark Todd, National Sales & Client Services Manager at Byte, commented, “We are always looking for ways to deliver additional value to our clients. The opportunity to offer a seamless integration between the BytePro platform and Lender Price is one we’re really excited about. By leveraging the strengths of both Lender Price and Byte, lenders can access a comprehensive solution that optimizes every aspect of the lending process, from application to closing.”

This integration underscores Lender Price’s commitment to providing modern and robust APIs that empower lenders to adapt to the evolving needs of the mortgage industry. With its innovative and configurable technology, dedication to customer success, and strength in the non-QM space, Lender Price continues to lead the way in driving digital transformation within mortgage lending.

To learn more, visit www.lenderprice.com.

About Lender Price
Lender Price delivers superior cloud-native pricing technology to top banks, lenders, credit unions, and mortgage brokers. Built on a modern technology stack, our solutions are user-friendly, configurable, and easier to integrate, resulting in improved workflow and pricing efficiencies. Lender Price’s advanced technology, combined with its deep understanding of the lending landscape, sets it apart from the competition. By leveraging artificial intelligence, machine learning, and data-driven insights, Lender Price equips lenders with the knowledge and resources to make informed decisions and drive growth. Recognized by top industry publications, our award-winning pricing, product and eligibility (PPE) platform continues to lead the industry in advancing capital markets and mortgage pricing technology. Visit us at https://lenderprice.com/ for more information.

About Byte Software
It’s time for an LOS that fits the way you do business. For over 35 years, Byte Software has delivered powerful, enterprise-class LOS solutions that give mortgage lenders total control over their loan process and the freedom to do business the way they want. The BytePro platform is trusted by over 800 mortgage bankers, credit unions, banks, and brokers to efficiently originate and deliver high-quality loans for their retail, wholesale, and correspondent lending channels. Request a demo or free 30-day trial at ByteSoftware.com.