ORC posts $178.9 million Q3 GAAP loss on rate-driven RMBS losses
ORC posted a $178.9 million GAAP loss in Q3 as rate-driven RMBS markdowns outweighed higher interest income. Excluding those items, earnings were $52.8 million.
- published on Newsmetry
- original source published
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner. connect the api →
what happened
According to TradingView, ORC reported a GAAP loss of $178.9 million in the third quarter. The main driver was steep mark-to-market losses on residential mortgage-backed securities (RMBS) as interest rates climbed. Partly offsetting this were derivative gains and stronger net interest income.
why it matters
For mortgage REIT investors, the key benchmark is earnings excluding realized and unrealized gains and losses. On that measure, ORC earned $52.8 million, or $0.27 per share. The gap between the GAAP result and this figure shows how much the direction of interest rates affects the value of a bond portfolio.
market impact
ORC and mortgage REITs: rising rates pressure the value of RMBS portfolios
tags
instruments
sources
- ORC: Rate-driven RMBS losses overwhelmed stronger interest income, producing a $178.9 million Q3 GAAP loss — TradingView, 23 October 2026 at 17:39 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner.
get stories in real time ↗