Schedule IV - Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2023

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
Bridge
	0 - 500k	77	8.11 - 10.91%	2024 - 2026	$	12,934	$	12,969	$	26
	500k - 1mm	34	8.49 - 11.61%	2023 - 2026		25,131		25,135		1,287
	1mm - 1.5mm	10	8.91 - 10.29%	2024 - 2025		12,590		12,624		—
	1.5mm - 2mm	13	8.71 - 12.36%	2023 - 2026		22,865		22,920		1,864
	2mm - 2.5mm	10	8.81 - 10.71%	2022 - 2026		22,874		22,978		2,280
	> 2.5mm	367	5.00 - 14.25%	2021 - 2027		6,699,688		6,741,190		623,483
Total		511			$	6,796,082	$	6,837,816	$	628,940
Fixed Rate
	0 - 500k	8	4.69 - 9.20%	2024 - 2043		2,082		2,061		—
	500k - 1mm	27	4.50 - 8.67%	2024 - 2030		22,053		21,878		—
	1mm - 1.5mm	36	4.59 - 10.00%	2019 - 2032		44,256		44,771		3,222
	1.5mm - 2mm	21	4.25 - 6.34%	2024 - 2031		37,028		37,136		1,662
	2mm - 2.5mm	27	4.48 - 8.00%	2023 - 2032		59,299		59,959		2,224
	> 2.5mm	115	3.39 - 8.32%	2019 - 2034		867,112		866,836		42,016
Total		234			$	1,031,830	$	1,032,641	$	49,124
Construction
	0 - 500k	9	10.00 - 18.00%	2022 - 2024		2,568		2,676		1,160
	500k - 1mm	11	8.00 - 12.62%	2022 - 2024		9,335		9,558		3,345
	1mm - 1.5mm	13	5.96 - 12.00%	2021 - 2025		14,656		15,785		10,999
	1.5mm - 2mm	11	9.75 - 12.00%	2020 - 2024		18,911		20,098		16,546
	2mm - 2.5mm	10	10.00 - 12.00%	2021 - 2024		22,177		22,334		11,157
	> 2.5mm	69	0.00 - 18.00%	2022 - 2025		1,112,988		1,142,075		385,358
Total		123			$	1,180,635	$	1,212,526	$	428,565
Freddie Mac
	> 2.5mm	7	3.28 - 6.64%	2026 - 2041		30,455		30,448		—
Total		7			$	30,455	$	30,448	$	—
SBA - 7(a)
	0 - 500k	2,690	0.00 - 15.00%	2016 - 2049		241,252		252,460		18,438
	500k - 1mm	336	5.00 - 11.50%	2014 - 2049		236,970		242,092		6,806
	1mm - 1.5mm	128	9.50 - 11.50%	2029 - 2048		154,308		156,094		2,375
	1.5mm - 2mm	75	7.25 - 11.25%	2030 - 2048		127,473		128,858		1,562
	2mm - 2.5mm	42	6.00 - 11.25%	2032 - 2049		94,510		95,133		2,108
	> 2.5mm	114	9.25 - 11.25%	2032 - 2048		409,586		412,091		—
Total		3,385			$	1,264,099	$	1,286,728	$	31,289
Other
	0 - 500k	1,010	1.00 - 12.13%	2004 - 2052		192,653		195,519		6,129
	500k - 1mm	126	3.00 - 11.00%	2023 - 2050		86,918		87,149		2,667
	1mm - 1.5mm	29	1.00 - 11.50%	2023 - 2048		33,207		33,446		1,073
	1.5mm - 2mm	16	3.50 - 10.00%	2025 - 2047		27,475		27,442		—
	2mm - 2.5mm	7	3.88 - 8.56%	2024 - 2037		15,698		15,559		—
	> 2.5mm	13	3.65 - 12.00%	2023 - 2028		98,505		98,710		—
Total		1,201			$	454,456	$	457,825	$	9,869
General Allowance for Loan Losses						(44,473)
Total Loans		5,461			$	10,713,084	$	10,857,984	$	1,147,787

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

(in thousands)	Loans, net		Loans, held for sale		Total Loan Receivables
Balance as of December 31, 2020	$	4,020,223	$	79,841	$	4,100,064
Origination of loan receivables		3,826,182		989,422		4,815,604
Purchases of loan receivables		137,182		75,666		212,848
Proceeds from disposition and principal payment of loan receivables		(973,111)		(981,456)		(1,954,567)
Loans acquired as part of merger transactions		—		102,798		102,798
Net realized gain (loss) on sale of loan receivables		(7,317)		47,897		40,580
Net unrealized gain (loss) on loan receivables		170		2,844		3,014
Accretion/amortization of discount, premium and other fees		13,232		—		13,232
Foreign currency gain (loss), net		(4,091)		—		(4,091)
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	$	6,994,728	$	317,012	$	7,311,740
Origination of loan receivables		3,303,318		722,280		4,025,598
Purchases of loan receivables		669,137		—		669,137
Proceeds from disposition and principal payment of loan receivables		(1,471,118)		(914,374)		(2,385,492)
Loans acquired as part of merger transactions		412,745		—		412,745
Net realized gain (loss) on sale of loan receivables		(9,281)		21,499		12,218
Net unrealized gain (loss) on loan receivables		(980)		(18,695)		(19,675)
Accretion/amortization of discount, premium and other fees		14,618		—		14,618
Foreign currency gain (loss), net		(1,165)		—		(1,165)
Transfers		3,987		(3,987)		—
Transfers to real estate owned, held for sale		(1,598)		—		(1,598)
Provision for loan losses		(30,894)		—		(30,894)
Balance as of December 31, 2022	$	9,883,497	$	123,735	$	10,007,232
Origination of loan receivables		1,005,137		561,997		1,567,134
Payments in kind		42,148		—		42,148
Proceeds from disposition and principal payment of loan receivables		(1,779,990)		(579,309)		(2,359,299)
Loans acquired as part of merger transactions		764,367		—		764,367
Loan receivables from issuance of securitized debt obligation		689,079		—		689,079
Net realized gain (loss) on sale of loan receivables		(9,661)		34,991		25,330
Net unrealized gain (loss) on loan receivables		(437)		8,846		8,409
Accretion/amortization of discount, premium and other fees		34,245		—		34,245
Foreign currency gain (loss), net		2,645		—		2,645
Transfers		68,661		(68,661)		—
Transfers to real estate owned, held for sale		(56,900)		—		(56,900)
Provision for loan losses		(11,306)		—		(11,306)
Balance as of December 31, 2023	$	10,631,485	$	81,599	$	10,713,084