IVR swings to $95.6M net loss as wider spreads hit MBS; leverage rises to 8.3x

Filed November 6, 2026 · Period ending September 30, 2026 · Compared to 10-Q Nov 5, 2025 · ~1 min read

Key Changes

• high

  Net loss of $95.6M in Q3 2026 vs. $53.5M profit a year ago, driven by $398.4M unrealized loss on MBS.

  MD&A: Net income verify on EDGAR →
• high

  Book value per common share fell 22.7% to $6.74 from $8.72 at year-end 2025.

  MD&A: Book value verify on EDGAR →
• high

  Economic debt-to-equity ratio rose to 8.3x from 6.7x, reflecting higher repo borrowings and new TBA positions.

  MD&A: Leverage verify on EDGAR →