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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 166,004  
Restricted cash 24,915  
Loans, net (including $0 and $9,348 held at fair value) 3,400,481 $ 4,020,160
Mortgage-backed securities 29,546 27,436
Investment in unconsolidated joint ventures (including $7,169 and $7,360 held at fair value) 132,730 133,321
Derivative instruments 15,448 2,404
Servicing rights 103,555 102,837
Real estate owned, held for sale 239,874 252,949
Other assets 315,772 300,175
Assets held for sale (refer to Note 9) 439,301 454,596
Total Assets 12,043,532 12,441,217
Liabilities    
Secured borrowings 2,198,272 2,102,075
Senior secured notes, net 345,570 345,127
Corporate debt, net 766,084 764,908
Guaranteed loan financing 814,784 844,540
Contingent consideration   7,628
Derivative instruments 593 212
Dividends payable 53,908 54,289
Loan participations sold 73,749 62,944
Accounts payable and other accrued liabilities 193,896 207,481
Liabilities held for sale (refer to Note 9) 315,975 333,157
Total Liabilities 9,535,289 9,794,455
Preferred stock Series C liquidation preference, $25.00 per share (refer to Note 20) 8,361 8,361
Commitments and contingencies (refer to Note 24)
Stockholders' Equity    
Preferred stock Series E, liquidation preference $25.00 per share (refer to Note 20) 111,378 111,378
Common stock, $0.0001 par value, 500,000,000 shares authorized, 170,445,333 and 172,276,105 shares issued and outstanding, respectively 17 17
Additional paid-in capital 2,307,303 2,321,989
Retained earnings (deficit) (3,546) 124,413
Accumulated other comprehensive loss (12,335) (17,860)
Total Ready Capital Corporation equity 2,402,817 2,539,937
Non-controlling interests 97,065 98,464
Total Stockholders' Equity 2,499,882 2,638,401
Total Liabilities, Redeemable Preferred Stock, and Stockholders' Equity 12,043,532 12,441,217
Consolidated Excluding VIEs    
Assets    
Cash and cash equivalents 166,004 138,532
Restricted cash 24,915 30,063
Loans, net (including $0 and $9,348 held at fair value) 3,400,481 4,020,160
Loans, held for sale (net of valuation allowance of $146,180 and $0) 584,072 81,599
Other assets 315,772 300,175
Liabilities    
Secured borrowings 2,198,272 2,102,075
Due to third parties 3,401 3,641
Accounts payable and other accrued liabilities 193,896 207,481
Consolidated VIEs    
Assets    
Assets of consolidated VIEs 6,591,834 6,897,145
Liabilities    
Secured borrowings $ 4,769,057 $ 5,068,453