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  "documentTitle": "Ready Capital | Investor Presentation Deck | 38 slides",
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  "authorName": "Ready Capital",
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  "presentationDate": "2023-08-01 00:00:00",
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      "text": "1. Levered yield includes interest income, accretion of discount, MSR creation, income\nfrom unconsolidated joint ventures, realized gains (losses) on loans held for sale,\nunrealized gains (losses) on loans held for sale and servicing income net of interest\nexpense and amortization of deferred financing costs on an annualized basis.\n2. GAAP ROE is based on GAAP Net Income, while Distributable ROE is based on\nDistributable Earnings, which adjusts GAAP Net Income for certain items detailed on\nthe \"Distributable Earnings Reconciliation\" slide.\n3. ROE based on net income before tax of the Residential Mortgage Banking business\nline divided by the business line's average monthly equity.\n4. Includes Employee Retention Credit processing fee income.\n5. Non-recurring gains, losses and expenses before applicable tax expenses.",
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      "text": "Corporate leverage, net of non-earning assets 2.2 2.7 1.7 3.3\nGross return on equity 16.4% 14.8% 14.7% 16.3%\nRealized & unrealized gains, net 1.8 (0.3) 1.8 (0.3)\nLoan loss provision (3.7) 1.6 - (0.1)\nPPP revenue, net of direct expenses (4) 2.1 2.4 2.1 2.4\nNon-recurring gains, losses and expenses (5) 40.9 (0.4) - -\nOperating expenses (7.3) (7.7) (7.0) (7.3)\nInvestment advisory fees (1.1) (1.6) (1.1) (1.6)\nProvision for income taxes (1.0) (0.1) (0.8) (0.4)\nDividends on preferred stock (0.4) (0.5) (0.4) (0.5)\nReturn on equity 47.7% 8.2% 9.3% 8.5%",
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      "text": "SBC Lending and Acquisitions 11.5% 11.5% 91.4% 14.2% 12.1% 13.0% 13.0%\nSmall Business Lending 43.6% 43.6% 4.6%\nResidential Mortgage Banking (3) 40.2% 10.1% 4.0%",
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      "text": "Return on Equity",
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