{ "docId": "019de518-2832-70d9-88e1-897b392f2061", "docSlug": "85b45b6de057496c4a9aef50afdb4b9a", "documentTitle": "Ready Capital | Results Presentation Deck | 19 slides", "authorId": "ready-capital", "authorName": "Ready Capital", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2024-02-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.2938006, "pageNumber": 8, "pageCount": 19, "prevPage": 7, "nextPage": 9, "slideType": "kpi_overview", "function": "summarize", "density": "overcrowded", "nDataPoints": 100, "notes": null, "elementsJson": null, "metadataConfidence": 0.9, "imagePath": null, "slideHref": "/slides/019de518-2832-70d9-88e1-897b392f2061/8", "deckHref": "/decks/019de518-2832-70d9-88e1-897b392f2061", "deckJsonHref": "/decks/019de518-2832-70d9-88e1-897b392f2061.json", "deckAnchorHref": "/decks/019de518-2832-70d9-88e1-897b392f2061#slide-8", "components": [ { "bbox": { "h": 0.3, "w": 0.45, "x": 0.5, "y": 0.56 }, "kind": "chart", "text": "GROSS LEVERED YIELD\n15%\n10%\n0.5%\n0.6%\n1.3%\n1.7%\n0.7%\n11.1%\n10.9%\n10.2%\n9.1%\n9.1%\n5%\n0%\nQ4 2022\nQ1 2023\nQ2 2023\nQ3 2023\nQ4 2023\nIncome on joint venture investments and gains on loans, held for sale 6\nGross levered yield (ex. gains) 7", "attrs": null, "subkind": "bar-stacked", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "10494183-3eef-4e96-bf89-e89bebf65206", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.47, "x": 0.05, "y": 0.61 }, "kind": "list", "text": "Liquidation and payoff of $429 million, including $94 million of assets acquired in the Broadmark Merger\nLMM money up pipeline of $451 million, including $43 million funded in January\nMosaic Acquired Assets protected against losses due to a $61 million contingent equity right reserve", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9b81de3e-d62f-4171-aa21-3d42bef15945", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.89, "x": 0.05, "y": 0.87 }, "kind": "source-note", "text": "1. Excludes joint venture investments\n2. Gross of general reserves\n3. Loan-to-value (LTV) is calculated by dividing the current unpaid principal balance by the most recent collateral value received. The most recent value for performing loans is often the third-party as-is valuation utilized during the original underwriting process\n4. 72% of fixed rate loans match funded\n5. Loans with the \"Other\" classification are generally LMM acquired loans that have nonconforming characteristics for the Fixed rate, Bridge, or Construction categories\n6. Includes realized and unrealized gains (losses) on loans held for sale and MSR creation\n7. Includes interest income, accretion of discount, and servicing income net of interest expense and amortization of deferred financing costs", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7a3f64c3-ce7e-4f3e-86be-7af3ca24148e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.92, "x": 0.04, "y": 0.44 }, "kind": "table", "text": "2,071\n$9.7B\n$9.6B\n64.5%\n9.0%\n21.3/78.7%\n9.9%\nORIGINATED\n769\n$7.94B\n$7.90B\n66.4%\n8.7%\n13.7/86.3%\n7.2%\nACQUIRED\n1,302\n$1.72B\n$1.69B\n56.1%\n10.7%\n56.3/43.7%\n22.3%", "attrs": null, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5a5e5816-c0f9-4f0d-8763-b6eaf47cb91d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.3, "w": 0.92, "x": 0.04, "y": 0.13 }, "kind": "table", "text": "PRODUCT TYPE\nLOAN COUNT(1)\nUPB\nBOOK VALUE(2)\nWA LTV(3)\nWA COUPON\nFIXED/FLOAT(4)\n60+ Days Past Due\n2,071\n$9.7B\n$9.6B\n64.5%\n9.0%\n21.3/78.7%\n9.9%\nFIXED RATE\n234\n$1.03B\n$1.03B\n60.1%\n5.1%\n100.0/0.0%\n2.6%\nBRIDGE\n511\n$6.84B\n$6.80B\n67.5%\n9.2%\n0.6/99.4%\n7.9%\nCONSTRUCTION (RC ORIGINATED)\n6\n$48M\n$47M\n60.8%\n7.4%\n74.0/26.0%\n0.0%\nMOSAIC ACQUIRED ASSETS\n7\n$640M\n$634M\n59.2%\n13.9%\n31.5/68.5%\n9.0%\nBROADMARK ACQUIRED ASSETS\n112\n$634M\n$609M\n66.4%\n10.7%\n90.1/9.9%\n50.7%\nOTHER(5)\n1,201\n$469M\n$466M\n37.3%\n6.6%\n36.4/63.6%\n1.2%", "attrs": null, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cde7502b-e3a7-41d4-a5ec-2b6ec19147cb", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.49, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "LMM Commercial Real Estate", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "94cbce66-5053-44ab-af77-1dbd9bd1c236", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Table data", "slug": "table-data", "agent": null, "layer": "slide", "matchId": "9267c90c-14d6-4eb2-810f-11906171f916", "evidence": "table/data: PRODUCT TYPE LOAN COUNT(1) UPB BOOK VALUE(2) WA LTV(3) WA COUPON FIXED/FLOAT(4) 60+ Days Past Due", "confidence": 0.9 } ], "frameworks": [], "arcBeats": [ { "to": 14, "from": 3, "beatId": "41d19b45-fe42-4fe3-9015-983238e9128d", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Financials", "beatSlug": "sequoia-pitch-financials", "evidence": "Detailed financial metrics", "position": 0, "confidence": 0.6, "parentBeatName": "Evidence", "parentBeatSlug": "evidence" } ], "loops": [ { "to": 14, "from": 3, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "9a34119d-6139-4669-9a0d-444ac8819506", "evidence": "Financial metrics imply benefits of strategy", "position": 0, "objective": "Highlight the benefits of Ready Capital's strategy", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.5, "description": "Quantify what happens if the audience does nothing" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }