T.J. Durkin
and you, David, good everyone. morning, Thank
grew the per quarter times X.X leverage during grew decreasing book $X from As the we to value economic billion, $XX.XX $X.X by We David from to share approximately adjusted share portfolio quarter. to times. mentioned, billion XX% $XX.XX our last ratio from per – X.X while
the liquidity $XXX million and Agency RMBS. to quarter, our over of we doubled During cash unencumbered
approximately see Non-Agency purchasing robust are company dig we our in To deploying we rapidly million active We fresh bit company’s pipeline and will a deeper of walk loans. capital. activity, this the you $XXX the through how into
Our also affiliate will third its or detail quarter, call. walk through the the during in more channel Non-Agency home in Nick within mortgage hit later production record which
month continued pace the of consistency acquisition support of purchasing additional growth. by demonstrating $XXX company assets an of the its During million in pipeline to October, robust the our loans, mix
the into over off As were CMBS net commercial our combined our both paid for million disclosed that generated proceeds previously $XX par. Those third in disclosed, previously sale on were of of heading at proceeds earlier legacy reinvestment. with quarter, quarter books the loans
MITT As remaining portfolio. mentioned, fully residential we has now our David on focused for exposure, and are loan the no commercial building bears repeating,
NPL further as we portfolio. where excess During sold also a basis proceeds just sale the was reached exposure quarter, further MSR we which we details and Agency accretive we generated our more later our on the reduced thought and the shy to in RPL strengthening provide of position, our of liquidity tightening from unlikely $XX whole million remaining had large Further our loans, presentation. point legacy RMBS also a
provide securitization during on which another this financing in and – completed we our the more later quarter. Moving transaction deck. the on and August, details during We successfully activity capital to
call, regards de-risk As I’ve pacing lines. we past our are disciplined to on earnings to of being stated previously with warehouse the committed our securitizations very to
million GSE were well of we Loans. plan, active deploying and this approximately price $XX.X using borrowing pipeline Given balance even, left it is provide increased average below of weighted $X.X Occupied share effort a $XXX company’s of additional under repurchased for value, price quarter, a and our during at In and to the excess under million to to investment $XX quarter, approximately the current the has we flexibility, we’ll added we finance continue book shares capacity in our our buyback our to products of XXX,XXX extent Notably the company program. the $X.X expanding capacity an capacity million evaluate existing capacity our sheet. borrowing The liquidity. Non-QM approximately billion repurchase Non-Owner to accretive to aggregate, repurchases
of paid created particularly of GSE proceeds. preferred common quarter in to another non-performing price and what additional to Turning and residential invest Loans, a to invest $X.X Slide mortgage the MITT’s an of financing Non-QM million. $XX out liquidity. million Agency of a with $XX The quarter began and average shares, million. important was warehouse into it $XX at common time million remaining of Occupied million an credit of We net walk $X.X this of financing in and was our excess additional investors par dividends active Non-Owner CRE it generated pure-play $XX in payoff created million loans, and rounding million net important proceeds repositioning additional $XX loans a We re-performing of repurchased into some was net X. million. through sales to deployed weighted aggregate take million CMBS during from $XX to again visual of Securitization $X.X felt REIT. loans of of sale the sales. another And this The effectively quarter $XX liquidity We of lines
of at summary, in successfully the business company loan loan lines investments, million during into So new $XX were of with liquidity, quarter, to able the double leaving quarter to whole October we profit, to as we ample Subsequent deployment residential have firepower a our providing us with our space. whole continue deployed liquidity non-core the exiting within of end, XX. liquidity million $XX
we the residential as the shift composition making remarkable progress continued show REIT, a our quarter earnings and more credit pure-play only wanted result next towards a made slide, October our fourth we our began to call since loans has Non-Agency transition to On of when portfolio purchases. the to
share, and per $X.X billion During from the we of three investment growth to achieved per share quarters billion book growth at and volume by $XX.XX billion loan $X.X strong gross in $XX.XX channels and led per Arc $X.X in portfolio adjusted operating MITT’s first and was year portfolio share of XXXX, respectively. resulting partner, substantial further acquisition the our Home. growth residential This value purchases during
in year, in we the order to assets the legacy patient investors. for and time opportune proceeds our maximize profits non-core During at exiting were
provides our pleased and the of earnings what made been has which in our next us opportunities model potential brings is the drives While are see business we this strong progress really growth, power shift that slide. future convictions the growing pipeline with our we to investors, year-to-date,
expect year-to-date, formulating in team’s And time future, balance have earnings growing despite shares repurchases we progress our opportunity enabling that, further illustrates plan investment the We light sense the of spent in that our reposition business see Arc the parties. all accomplishments strategy. preferred year-to-date to our to compelling discuss to and work both simplifying the strategy, shareholders from approximately further for lot its our portfolio, MITT’s our exchanges our continuing further whole over of loan for high by base should XX% at which embedded into can been portfolio make our loss through still the that post securitization. will XX% equity we we’ve our in play of adjusted focused in securitization sheet new company This the slide through a unlock all equity discounts Home. still believe including particularly we retained At be common investment power. of in level, strategy. our create be out our to MITT with turn we and Away XX%. available I’ll the addressing of the call to see we on has seen With we made portfolio, highlighting to optimization, Further, MITT’s proactive Nick most our power to of by a at the returns how rotated securitization into it earnings new to recent redeploying ROEs drive investments
