Schedule IV - Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2021

Schedule IV - Mortgage Loans on Real Estate

Schedule IV - Mortgage Loans on Real Estate

Ready Capital Corporation

Schedule IV – Mortgage Loans on Real Estate

There are no individual loans that exceed 3% of the total carrying amount of all mortgages. The table below presents the Company’s mortgage loans on real estate, categorized by product type.

Product Type	UPB Grouping	Loan Count	Interest Rate	Maturity Date	Carrying Value		UPB		UPB of loans subject to delinquent principal or interest
Acquired loans
	0 - 500k	1,412	1.00 - 11.50%	2004 - 2049	$	286,054	$	289,410	$	17,282
	500k - 1mm	265	3.88 - 8.00%	2021 - 2037		181,979		181,598		9,208
	1mm - 1.5mm	88	1.00 - 8.50%	2021 - 2049		105,812		106,449		7,054
	1.5mm - 2mm	28	2.20 - 10.25%	2020 - 2050		48,357		48,570		3,104
	2mm - 2.5mm	15	2.49 - 7.75%	2020 - 2048		33,711		33,630		2,206
	> 2.5mm	63	3.13 - 11.00%	2022 - 2030		537,728		542,159		10,000
Total Acquired loans		1,871			$	1,193,641	$	1,201,816	$	48,854
Acquired SBA 7(a) loans
	0 - 500k	720	0.00 - 8.75%	2017 - 2041	$	83,596	$	94,536	$	5,467
	500k - 1mm	80	3.75 - 7.50%	2014 - 2041		54,288		57,425		1,781
	1mm - 1.5mm	13	4.00 - 6.00%	2032 - 2042		14,638		15,341		-
	1.5mm - 2mm	3	6.00 - 6.00%	2037 - 2042		5,325		5,402		-
	2mm - 2.5mm	2	5.00 - 5.75%	2037 - 2040		4,541		4,599		-
	> 2.5mm	6	4.75- 5.25%	2035 - 2042		20,166		20,525		-
Total Acquired SBA 7(a) loans		824			$	182,554	$	197,828	$	7,248
Originated transitional loans
	0 - 500k	62	3.15 - 7.00%	2021 - 2026	$	11,077	$	11,089	$	-
	500k - 1mm	22	3.30 - 105.10%	2021 - 2046		15,325		15,412		1,227
	1mm - 1.5mm	11	3.85 - 5.90%	2022 - 2026		13,536		13,629		-
	1.5mm - 2mm	17	4.10 - 8.10%	2021 - 2026		30,241		30,519		1,995
	2mm - 2.5mm	15	4.00 - 12.00%	2021 - 2024		33,052		33,371		2,364
	> 2.5mm	309	3.00 - 9.25%	2021 - 2028		4,279,051		4,318,504		91,890
Total Originated transitional loans		436			$	4,382,282	$	4,422,524	$	97,476
Originated Freddie Mac loans
	1mm - 1.5mm	4	3.18 - 3.47%	2029 - 2042	$	5,012	$	4,949	$	-
	1.5mm - 2mm	1	3.23 - 3.23%	2029 - 2029		1,605		1,589		-
	2mm - 2.5mm	2	3.17 - 3.21%	2027 - 2027		4,213		4,171		-
	> 2.5mm	7	3.35 - 3.63%	2029 - 2042		31,554		31,155		-
Total Originated Freddie loans		14			$	42,384	$	41,864	$	-
Originated Residential Agency loans
	0 - 500k	1,019	2.13- 5.50%	2018 - 2053	$	214,463	$	210,194	$	1,663
	500k - 1mm	38	2.13 - 4.99%	2022 - 2052		24,028		23,568		-
Total Originated Residential Agency loans		1,057			$	238,491	$	233,762	$	1,663
Originated SBA 7(a) loans
	0 - 500k	805	0.00 - 7.50%	2023 - 2047	$	139,128	$	147,119	$	3,859
	500k - 1mm	138	4.25 - 6.00%	2027 - 2047		97,311		99,969		1,998
	1mm - 1.5mm	63	4.00 - 6.00%	2027 - 2047		74,344		75,909		-
	1.5mm - 2mm	19	4.25 - 6.00%	2041 - 2046		32,678		32,675		-
	2mm - 2.5mm	17	4.50 - 6.00%	2031 - 2046		39,196		39,026		-
	> 2.5mm	20	4.50 - 6.00%	2031 - 2046		64,362		64,452		2,542
Total Originated SBA 7(a) loans		1,062			$	447,019	$	459,150	$	8,399
Originated SBC loans
	0 - 500k	18	3.25 - 8.10%	2021 - 2046	$	4,899	$	4,837	$	-
	500k - 1mm	32	4.50 - 9.22%	2024 - 2030		26,034		25,679		709
	1mm - 1.5mm	43	4.68 - 10.00%	2019 - 2031		52,724		52,309		4,316
	1.5mm - 2mm	36	4.25 - 6.43%	2019 - 2032		62,180		62,353		1,560
	2mm - 2.5mm	27	4.60 - 6.06%	2022 - 2030		61,377		60,837		2,224
	> 2.5mm	124	3.73 - 7.50%	2019 - 2040		772,819		769,613		30,149
Total Originated SBC loans		280			$	980,033	$	975,628	$	38,958
Originated SBC loans, at fair value
	1mm - 1.5mm	1	3.25 - 3.25%	2046 - 2046	$	1,337	$	1,337	$	-
	1.5mm - 2mm	2	4.59 - 5.27%	2026 - 2031		4,023		4,023		-
	> 2.5mm	13	3.51 - 7.75%	2020 - 2032		106,578		106,251		-
Total Originated SBC loans, at fair value		16			$	111,938	$	111,611	$	-
General Allowance for Loan Losses						(28,113)
Total Loans		5,560			$	7,550,229	$	7,644,183	$	202,598

The table below presents activity for mortgage loans on real estate, including loans in consolidated VIEs.

(in thousands)	Loans, net		Loans, held for sale, at fair value		Total Loan Receivables
Balance as of December 31, 2018	$	2,414,366	$	115,258	$	2,529,624
Origination of loan receivables		1,307,143		2,621,324		3,928,467
Purchases of loan receivables		739,002		9,149		748,151
Proceeds from disposition and principal payment of loan receivables		(826,702)		(2,628,521)		(3,455,223)
Loans acquired as part of ORM merger transaction		130,449		-		130,449
Net realized gain (loss) on sale of loan receivables		(5,700)		76,274		70,574
Net unrealized gain (loss) on loan receivables		760		289		1,049
Accretion/amortization of discount, premium and other fees		14,194		-		14,194
Loans consolidated as part of RCLT 2019-2 transaction		463,177		-		463,177
Payment of guaranteed loan financing		(177,815)		-		(177,815)
Transfers		1,262		(1,262)		-
Transfers to real estate owned, held for sale		(2,269)		-		(2,269)
Provision for loan losses		(3,684)		-		(3,684)
Balance as of December 31, 2019	$	4,054,183	$	192,511	$	4,246,694
CECL Day 1 adjustment		(7,527)		-		(7,527)
Origination of loan receivables		699,650		5,076,936		5,776,586
Purchases of loan receivables		277,170		-		277,170
Proceeds from disposition and principal payment of loan receivables		(962,404)		(5,152,861)		(6,115,265)
Net realized gain (loss) on sale of loan receivables		(5,069)		218,809		213,740
Net unrealized gain (loss) on loan receivables		(1,105)		5,607		4,502
Accretion/amortization of discount, premium and other fees		8,434		-		8,434
Foreign currency gain (loss), net		4,509		-		4,509
Transfers		714		(714)		-
Transfers to real estate owned, held for sale		(11,339)		-		(11,339)
Provision for loan losses		(33,785)		-		(33,785)
Balance as of December 31, 2020	$	4,023,431	$	340,288	$	4,363,719
Origination of loan receivables		3,826,182		5,356,406		9,182,588
Purchases of loan receivables		141,663		75,666		217,329
Proceeds from disposition and principal payment of loan receivables		(977,096)		(5,475,139)		(6,452,235)
Loans acquired as part of ANH merger transaction		-		102,798		102,798
Net realized gain (loss) on sale of loan receivables		(7,317)		154,801		147,484
Net unrealized gain (loss) on loan receivables		170		(3,023)		(2,853)
Accretion/amortization of discount, premium and other fees		13,232		-		13,232
Foreign currency gain (loss), net		(4,091)		-		(4,091)
Transfers		(1,138)		1,138		-
Transfers to real estate owned, held for sale		(9,015)		-		(9,015)
Provision for loan losses		(8,727)		-		(8,727)
Balance as of December 31, 2021	$	6,997,294	$	552,935	$	7,550,229