RCB 📈 Ready Capital - Overview

Ready Capital Corporation is a real estate finance company that operates in the United States, focusing on the origination, acquisition, financing, and servicing of various loan products. These include small balance commercial loans, small business administration loans, and residential mortgage loans, in addition to mortgage-backed securities that are primarily collateralized by small balance commercial loans. The company's operations are divided into four distinct segments, each with its own specialized functions and areas of expertise.

The Loan Acquisitions segment is responsible for acquiring performing and non-performing small balance commercial loans, which are then either held in the company's portfolio or further securitized and sold to investors. This segment plays a crucial role in the company's overall strategy, as it allows Ready Capital to expand its portfolio and generate revenue through interest payments and loan servicing fees. In contrast, the SBC Originations segment focuses on originating new small balance commercial loans, primarily for stabilized or transitional investor properties, using a variety of loan origination channels. This segment also originates and services multi-family loan products, which are an essential part of the company's business.

The SBA Originations, Acquisitions and Servicing segment is dedicated to acquiring, originating, and servicing owner-occupied loans that are guaranteed by the Small Business Administration. These loans are an attractive option for small business owners who are looking to purchase or refinance their own properties, and they provide a stable source of income for Ready Capital. The Residential Mortgage Banking segment, on the other hand, originates residential mortgage loans through a range of channels, including retail, correspondent, and broker channels. This segment allows the company to diversify its portfolio and tap into the large and stable residential mortgage market.

As a real estate investment trust, Ready Capital Corporation is required to distribute at least 90% of its taxable income to its stockholders in order to qualify for favorable tax treatment. This means that the company is generally not subject to federal corporate income taxes, which allows it to retain more of its earnings and distribute them to shareholders. With a history dating back to 2007, Ready Capital Corporation has established itself as a major player in the real estate finance industry, and its common stock is listed on the New York Stock Exchange under the ticker symbol RCB. The company is headquartered in New York, New York, and operates in the commercial and residential mortgage finance sub-industry.