Cherry Hill Mortgage Investment Corporation, operating as a REIT specializing in residential mortgage-backed securities (RMBS) and servicing related assets (MSRs), completed an important internalization event in late 2024. This shift granted the company direct control of its investment decisions while it navigates a market environment defined by interest rate volatility and liquidity constraints. After volatile results including negative revenues in 2022 and 2023, the company returned to positive revenue generation in 2024 and 2025, albeit with significant year-over-year declines. Leverage remains a critical component of its RMBS financing strategy, contributing both to risk and return dynamics. Dividend distributions have been maintained at substantial levels, supported by improved operating cash flows in 2025.