Cherry Hill Mortgage provides update on exploration of strategic alternatives

Cherry Hill Mortgage announced that the special committee of the company’s board of directors, as part of the committee’s exploration of strategic alternatives, recommended to the Board that it is in the best interests of the company and its stockholders to internalize management of the company, terminate the management agreement between the company and Cherry Hill Mortgage Management, the company’s external manager, and take all steps necessary to begin operating the company as a fully integrated, internally managed mortgage REIT. Following such recommendation from the Special Committee, the Board authorized and approved the Internalization and authorized and directed the company’s officers to take all actions necessary to cause the company to effect the Internalization. The Special Committee is continuing to explore other strategic alternatives.