TPG Mortgage's $3 Billion Gamble: A Deal that Could Shake Up the Mortgage Market The recent acquisition of Cherry Hill Mortgage Investment Corporation (CHMI) by TPG Mortgage Investment Trust (MITT) for approximately $3.
1 billion has sent shockwaves through the mortgage industry. On August 10, MITT announced an all cash and stock deal to acquire CHMI, a move that could have significant implications for the market.
One key factor driving this deal is MITT's desire to expand its equity base. With a portfolio of $7. 7 billion and an economic return on equity of 2.