Strong Earnings Performance
Generated approximately $300 million in earnings with an 18% ROE. Earnings available for distribution were $0.54 per diluted share, marking the 24th consecutive quarter where EAD exceeded dividends paid.
Significant Acquisitions
Announced the acquisition of Crestline with $18 billion to $20 billion in AUM and Paramount, a Class A office REIT, with properties in New York and San Francisco.
New Product Offerings
Expanded product offerings including a forward flow to acquire up to $1 billion in home improvement loans and a securitization for a little under $500 million on non-QM loans.
Growth in Mortgage Segment
Direct origination production up 32% year-over-year. Recapture rates and non-agency originations showed significant gains.
Increased Cash and Liquidity
Ended the quarter with $2.2 billion in cash and liquidity.