Portfolio Economic Return
The portfolio delivered a total economic return of 1.5% for the second quarter and 3.4% year-to-date, including the first two quarterly dividends which increased to $0.36 in the first quarter.
Non-QM Securitization Success
Issued the 18th non-QM securitization in early May and priced the 19th non-QM securitization due to strong investor demand.
Loan and Securities Sourcing
$876 million sourced in loans and securities across target asset classes, including $503 million of non-QM loans, $131 million of Agency MBS, and $217 million of business purpose loans at Lima One.
Continued Growth in Net Interest Income
Net interest income grew to $61.3 million, marking the third consecutive quarter of growth, driven by higher-yielding assets.
Lima One Origination Increase
Lima One originated $217 million of business purpose loans during the quarter, a slight increase from the first quarter, and hired 15 new loan officers.