8-K: Angel Oak Mortgage REIT Switches Auditors to Deloitte

Angel Oak Mortgage REIT, Inc. announced a change in its independent registered public accounting firm, dismissing KPMG LLP and engaging Deloitte & Touche LLP for the fiscal year ending December 31, 2026.

Summary

• Angel Oak Mortgage REIT, Inc. (AOMR) dismissed KPMG LLP as its independent registered public accounting firm on March 9, 2026.
• The Audit Committee of the Board of Directors approved the dismissal of KPMG LLP.
• KPMG's audit reports for the fiscal years ended December 31, 2025, and December 31, 2024, did not contain an adverse opinion, a disclaimer of opinion, or any qualifications or modifications.
• There were no disagreements on accounting principles or practices, financial statement disclosure, or auditing scope or procedure between AOMR and KPMG during the two most recent fiscal years and the subsequent interim period through March 9, 2026.
• No reportable events, as defined by Regulation S-K, occurred during the period leading up to KPMG's dismissal.
• AOMR engaged Deloitte & Touche LLP as its new independent registered public accounting firm for the fiscal year ending December 31, 2026, with approval from the Audit Committee on March 9, 2026.
• Neither AOMR nor anyone on its behalf consulted Deloitte regarding the application of accounting principles or audit opinions prior to their engagement, nor were there any disagreements or reportable events with Deloitte.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event. While an auditor change can sometimes signal underlying issues, the explicit statement of no disagreements or reportable events with KPMG LLP suggests a smooth, routine transition, which is a positive for corporate transparency and governance.

Positives

• The dismissal of KPMG LLP was not due to any disagreements on accounting principles, financial statement disclosure, or auditing scope or procedure, indicating a non-contentious transition.
• KPMG's audit reports for the fiscal years ended December 31, 2025, and December 31, 2024, were unqualified, suggesting no significant issues with past financial statements.
• No reportable events were identified during the period leading up to the change, which implies a smooth transition without underlying financial or reporting problems.

Future Outlook

Deloitte & Touche LLP has been engaged as the independent registered public accounting firm for Angel Oak Mortgage REIT, Inc. for the fiscal year ending December 31, 2026.

Management Comments

• "We agree with such statements, except that we are not in a position to agree or disagree with Angel Oak Mortgage REIT, Inc.'s statements included in Item 4.01(b)." (KPMG LLP's statement in Exhibit 16.1)

Industry Context

StockSavvy.ai notes that changes in independent auditors are a common occurrence in the financial industry, often driven by factors such as fee negotiations, rotation policies, or a desire for fresh perspectives. The absence of reported disagreements or reportable events suggests this change is routine rather than indicative of underlying financial issues, aligning with best practices for corporate governance.

Corporate Governance

Stakeholder Impact

• Shareholders: The change in auditors, without any reported disagreements or issues, suggests continued robust financial oversight, which is generally positive for investor confidence.
• Management: Will work with a new auditing firm, requiring coordination for the upcoming fiscal year's audit.

Next Steps

• Deloitte & Touche LLP will serve as the independent registered public accounting firm for the fiscal year ending December 31, 2026.

Key Dates

Recommendation

This filing details a routine change in the company's independent registered public accounting firm. The explicit statement that there were no disagreements or reportable events with the outgoing auditor, KPMG LLP, and no prior consultations with the incoming auditor, Deloitte & Touche LLP, on contentious issues, indicates a smooth transition without any red flags. As such, this administrative change does not provide new information that would significantly alter the fundamental investment thesis for Angel Oak Mortgage REIT, Inc., warranting a 'hold' recommendation based solely on this filing.

Keywords

Angel Oak Mortgage REIT, AOMR, KPMG, Deloitte, auditor change, independent registered public accounting firm, SEC filing, 8-K, corporate governance, financial reporting