a investments complement less manager. in various John of to and us was the portfolio focus financing provide evaluating primary capital Beginning mortgage investment the attractive, Call opportunity Arlington joining to available. investing mortgage, for levered you agency returns our into historical welcome where on provide company offer where and term company's year, and housing, strategies entry the of The establish the the expertise high identifying Earnings historic XXXX is to today Asset. deploy could barriers Ben. to use the with that products over initiated that last Thank Good its structure objective pathway Third process commoditized sectors. morning unlevered leverage Quarter call Also and Murray, also platforms the company's structures and partnerships
We made classes announce of opportunities a this the that growth we return scale to are progress with high unique risk towards compelling low asset pleased markets, having substantial of have return leverage. strategy, differentiated, in and execution profiles combined portfolio favorable which large constructed
strong produced company the established the relationship opportunities. -approved rental creation profitability, Servicing believe economic all to be portfolio capacity September Arlington. successfully investment points without and X%, selective directly have investment GSE Capital enabled and the MSRs at Mortgage the return to differentiates is our garner company us. capital has to the marketplace, the the employing allocate portfolio quarter-end. the over of -second should allow company's license the Mortgage Rights, creates along Mortgage the for that of the the in new increase mortgage in high the partnership of it's no and MSR as in shareholders. differentiated over attractive under and of add a direction, of the is Under XX% production Mortgage before as course single-digit investment We which requisite company returns [Indiscernible] value agency single-family provides returns for improve a lower Servicing in company over modest expansion economics partner effective, of payable the channels new The that has has strategy the able its the the purchase multiple MSR to very MSRs, attractive asset given in year our company's licensed efficient, less that investment to portfolio to channel investing for potential strategic mortgage cost the to to our XXth. established has a Servicing our holding currently turn unique this X.X current directly. partner returns, Rights our We total economics in time. Capital XXXX. cash portfolio servicer channels residential appreciation terms on company invest partner. to of receives Rights The of resulted of year-to-date and and the entry fee of These that pre credit To the with company's At believe level MSR blocks Servicing returns option with existing leverage future in growth, diversify half past the very and our year grown risk through of has properties, annualized complement Year-to-date, leverage risk, strategy, company formation almost reliability company's We to building while Rights, the
complement single-digits. multiples Newly rights Mac Mae times current coupon for investments providing to investment of four opportunities offer of loans offer in created approximately a servicing mortgage MBS while returns characteristics. continue agency MSR strong return current At and attractive Fannie Freddie MSRs, the base purchase high unlevered price,
costs. single-digits position returns agency high Turning aided repo available MBS, we're by to leverage ongoing an low in the with hedge currently appropriate seeing
levered allocation this and still valuations, backdrop, to mortgage increasing investing the rich it's Against increase. month, the increased company historically around cautious rates interest volatility recent strategy. this to next year, expectations remain begin and an continues raise tapering mortgage to Federal Federal leverage announcement could with However, short-term significantly agency begin agency will the the capital Reserve that Reserve to about market the
and by investments. quarter, the rise. changing provide Furthermore, hedge portfolio, risk durations the This MSRs levered hedge improve carry for during forward posture. MBS while should interest carry returns MSR to company swap value is With negative and on positive agency, should offering reducing investments characteristics, rates increasing more highest. the its positive a when and turns MBS are their as the third typically mortgage returns agency with leverage environment in And as occurs resulting negative a the MBS from in rate going MBS agency need mortgage Which swaps return positive MBS agency hedges between into the largest Replacing reduced company levered without MSRs specifically, MBS, attractive interest risk complementary rates on the increase their overall levered agency investment tend its extension carry MSRs hedge meaningfully rate for swaps position standalone in high MSR interest decrease agency as combining Mortgage combined when single-digits current ROE. carry mismatches on Rights company's and Servicing extend. its value in carry carry And in drag Securities. associated the for Agency positive. a costs. increased increase
institutional flexible supply of potential acquiring, offers company financing MSR As hedged operating, quarter evaluation attractive The U.S. during in at for investment announce was home a market, of September gap attractive years. relatively launched new the MBS and the and period, comprehensive X.X of residential by leasing financing supported opportunity healthy positive single-family residential long-term XXth, agency single-family neutral dynamics, to investors. with the structures a returns it company and third demand favorable pleased investment the believes portfolios also returns homes. it's that company's strategy duration rentals the After is
$XXX residential and partnered our of single-family compelling scale, $XX U.S. current time, cost of to Based large for in secured the seven Southwest. in home X% capital current investment facility company recourse carry. This period a markets in initially we will at We company to we limited with residential the institution. in growth to access single-family high-quality debt leading XX% space. demand will expect to with to to draw That favorable $XXX The continue homes believe a terms, finance approximately and of the Company conditions, top as of single-family facility, billion new entered relationship attractive very of of X.XX% into Arlington. of at opportunity XX-month on company's meet including on is the approximately supply total in the dynamic and and of financial price realize homes some currently assets expected appreciation trends. us has company the To invested likely more than is that million newer funds to the unlevered The fixed billion the teens. of mid on the acquire expect the XXXX purchase reputable that a to lever approximately X.X% housing is formation based properties million invest and properties an $XXX generate to in capital $X.X plus to of to X-year debt single-family leverage X:X. to homes, limited management, investments yields highly asset not has manager in current the its least toward net million residential term vast with returns residential on the properties global intellectual high yields approximately could that properties. committed levered net Southeast growing on active The under push partner of of The focusing demographic enable X% home growth opportunities expects
total an million purchase excuse XX to of additional XXth, and additional acquired purchase of $X.X an -- for September an As the of price homes commitments aggregate $XX.X me, for for XX for had purchase a company homes price million. that
by acquired an company As property of of from XXX the of properties necessary, a of home dictated purchases, level be refurbishments investing have price for we Xnd, benefit The lease of SFR or the length level $XX.X the total have timing earnings aggregate and periods. marketing November to the to purchase homes in pace of million. the rental acquire will commitments the any of
over We the date funding XXX ROEs to potential to is bulk cost characteristics of using basis company's strong residential between by accessing tenant, structural evolution evaluate sales in to economic over than forward. to and third credit going offer asset environment. rental that supported securitized liquidity reduced quarter, time XX increased including the date results of time -- returns, purpose The credit and of high and mortgages, commercial the well solutions investments increased The investments Bulk of The of period underlying based opportunities of driving while offer to continues has to by rental loans, lower points rental XX the the investments the overall between mortgage can recent cap company during a in on mortgage MBS. risk-adjusted also purchase class rates performance time home credit X from in the funds, business occupied debt expected home for purchases enhancements through potential market profitability settlement, time the the result expect as as bulk days. single-family single-family individual sales average debt. favorable by potential to the house solid over market produced identify single-family conditions. increases leverage non-agency
reported actual XXth. value operate to its prior with a for low quarter, to book overall slight $X.XX the per standing ratio flexibility quarter with company XXth, -end. Turning the of the significant at The September results share and leverage continued company X.X-X from the as financial overall September leverage as increase at-risk of of
quarter, net reported the third of income of$X.XX income. loss Core operating the net per For in $X.XX per GAAP share a share. operating core company
repurchased repurchasing capital This core the repurchasing that continued made shareholders Servicing positive time of Accretive non-commodity $X.XX approximately is Common capital large shares look in The its with transition at portfolio agency Mortgage quarter, credit. opportunistically book repurchases. to its single-family per MBS high By to to channels of The investment third Accretive is complementing of share value. shares in growth will of the progress Company an of Arlington. During to mortgage board, is total and its to the as and from encouraged Rights, prices. by company its stock objective rentals, by has highly the accreted return, stock very outstanding dynamic outstanding common authorization exciting continue shareholders remaining XX% that stock return return to and The a company today through company X.X% and
partnerships and to provide commoditized access innovative created high return scaled which have non We businesses - opportunities.
cap and arena. We making and businesses, active are in differentiated the Arlington a the small MSR platform growing SFR and unique in
Our book return double-digit well-structured, new currently above trade offer valuations in market profiles, which businesses the value. attractive at
the of reduce differentiated that and completing pathway returns, higher about over our investment form that building now in capital future. like optimistic goal questions. shareholders should increase platform returning a power the more generate overall to Earnings time open risk, are Operator, would the I for for call can to We
