Schedule IV - Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2024

SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]

SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Text Block]

The table below presents the Company’s mortgage loans on real estate, categorized by product type.


($ in thousands)		December 31, 2024
Product Type	Property Type	Loan Count	Interest Rate			Maturity Date			Prior Liens	Payment Terms	Carrying Value	UPB	UPB of loans subject to delinquent principal or interest
First Mortgages individually >3%
Construction	Mixed Use	1	13.1%			2024			—	Interest Only	$426,100	$494,404	$—
First Mortgages individually <3%
Bridge	Health Care, Industrial, Lodging, Mixed Use, Multi- Family, Office, Retail, Storage	255	5.0	-	13.8%	2021	-	2027	N/A	N/A	5,160,410	5,413,832	503,348
Fixed Rate	Health Care, Industrial, Lodging, Mixed Use, Multi- Family, Office, Retail, Storage	182	3.4	-	8.7%	2021	-	2043	N/A	N/A	885,417	891,675	49,640
Construction	Industrial, Land, Lodging, Mixed Use, Multi-Family, Residential, Retail	48	9.0	-	13.0%	2020	-	2028	N/A	N/A	329,484	351,820	80,853
Freddie Mac	Multi-Family	10	5.3	-	6.6%	2030	-	2035	N/A	N/A	36,248	35,931	—
SBA - 7(a)	SBA	2,204	1.0	-	11.3%	2024	-	2051	N/A	N/A	1,127,727	1,153,555	59,295
Other	Health Care, Hotel, Industrial, Lodging, Mixed Use, Multi- Family, Office, Residential, Retail, Storage, Other	1,020	1.0	-	12.0%	2021	-	2054	N/A	N/A	348,015	352,019	5,238
Total First Mortgages		3,720									$8,313,401	$8,693,236	$698,374
Subordinated Mortgages individually <3%
Construction	Hotel, Mixed Used, Multi- Family	3	9.0	-	16.0%	2023	-	2025	N/A	N/A	32,084	105,821	29,427
SBA - 7(a)	SBA	4,252	0.0	-	15.0%	2014	-	2050	N/A	N/A	181,716	193,551	12,322
Other	Mixed Use, Retail	447	1.0	-	29.0%	2019	-	2029	N/A	N/A	22,635	38,973	17,434
Total Subordinated Mortgages (1)		4,702									$236,435	$338,345	$59,183
Total Loans, net and Loans, held for sale		8,422									$8,549,836	$9,031,581	$757,557

(1) Total subordinated mortgages includes unsecured loans.

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, 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
Origination of loan receivables	826,095	1,052,926	1,879,021
Payments in kind	73,518	4,055	77,573
Non-cash participations	39,855	—	39,855
Proceeds from disposition and principal payment of loan receivables	(2,254,757)	(1,378,961)	(3,633,718)
Loans acquired as part of merger transactions	8,167	—	8,167
Net realized gain (loss) on sale of loan receivables	(9,166)	(145,622)	(154,788)
Net unrealized gain (loss) on loan receivables	3,631	(3,265)	366
Gain on sale of agency loans	(20,507)	85,518	65,011
Accretion/amortization of discount, premium and other fees	23,360	—	23,360
Foreign currency gain (loss), net	(4,086)	—	(4,086)
Transfers	(715,843)	715,843	—
Transfers to real estate, held for sale	(41,401)	(45,589)	(86,990)
Provision for loan losses	(252,141)	—	(252,141)
Valuation allowance	—	(124,878)	(124,878)
Balance as of December 31, 2024	8,308,210	241,626	8,549,836

Ready Capital Corp 10-K/A