third-quarter and earnings Good joining for thank morning, you call. our
The origination residential believe commercial and commercial was marked are expect balance attractive sheet. year-over-year Total be yield model a X(a) We from business small the shareholders record originations. a both and Ready results with quarter $XXX growth. pleased XX% indicative small the balance SBA and and can to for quarter of the loan Capital's million, balance diversified
SBC million. a year-over-year originations balance just of $XXX reached $XXX commercial we activity, origination investment In Residential addition to million $XX growth. over small loans, to total activity million, XX% bringing acquired
the evident was quarter. to strong platform segment, Our contributed in the each origination product where SBC diversity
and rate, million, $XXX fixed volumes $XXX loan Freddie respectively. product Mac and million were $XXX bridge Our million,
spread weighted points. of sheet on-balance a coupon and X.X% SBC XXX Originated average of basis loans had a
newly debt factors. loans of average loans LTVs is key SBC of a a XX%, coverage premiums originated metrics debt of growth X%. averaged remained on the Mac with of yield Gross of Additionally, few to credit due and ratios origination franchise service X%. times The sound, X.X Freddie
the middle-market gaining the In and loan the is market and rate product a fixed acceptance bridge control product securitization our sponsors ability flexibility lower loan clarity increasing for investor to in clients. over benefited increasingly our broker provide with and to program, the the tailored community, structure The provides rate. fixed from both the due in solutions
has resulting reduction. product XX FHA's The opening favorable Freddie our the market of of origination factors, Mac presence. in satellite increased Freddie national loan basis point Mac's the new Additionally, benefited caps, from announcement including rate
to $XX a continued Quarterly year-over-year favorably challenging which representing perform compares market with the industry decline, in originations million, segment SBA trends. face The totaled of Xa of declines X% X%.
businesses without Average slowdown over coupons encourages X.XX%, due financing XX%. to remained at of the guarantee. to economy, We which government be average the prime a strong to small to to banks quarter premiums part in and sale industry believe consistent increased plus provide quarter benefit a loan
for loans due earnings small cuts. may addition, demand weaker from the In increased business tax to retained be
to and lenders slower may nonguaranteed turn economic rising reduce benefit to which potentially Going tariffs forward, growth ReadyCap. lending in from costs cause businesses, should small
weighted from the average additional of levered added strategy years acquisitions weighted balance have were These X.X%, an yield. duration coupon a four average ongoing a deals and The of collapsing of to $XX were an priced million to a and legacy of sourced mid-teens loan loans SBC SBC sheet. loans
stake an The office investments currently complex with Dallas, small a accretive, segment attractive purchase the a our from originated expanding million an from to repositioning. $X Texas by in undergoing continued XX% by over margins balance A all Supported was which XX We $XXX ranging production to purchased in GMFS estate supported environment, of of modest increased Class exposure volume. XX mortgage real channels recorded million, record Increased basis was rate volumes. banking points.
the of in to over was the the rates focus loans, income. book via which investment in on our portfolio servicing Mortgage of were of and sheet interest increased $X.X mitigated continued loan balance billion. in indicative by CPRs have loan our delivering our portfolio net X% form Increased recurring retention activity XX% of quarter's earnings are XX%. activity servicing
to lending strength portfolio emerging credit of see real balance credit balance estate potential and delinquencies. issues commercial the small continue in to the our confident we contrast the minimal In market, in large are
we remained LTVs geography, portfolio average concentration in our for collateral Weighted and the stability superior of asset believe low single of and diversity at provides the shareholders. XX%, terms
Now in from funding continue will of the financing. ability we source terms to business, to benefit our low-cost
scale primary The our was senior on in $XX increased million, note quarter's funding seven-year source in and investment down to continue we that unsecured months. based execution funding July will our activities. drive the costs upcoming the We believe raised for
We're executing in process of the securitizations. three
rate First, should this high-teens securities initial in we a result price based million week, mortgage-backed a $XXX levered ROE. which, plan on commercial to fixed deal discovery, pricing
approval, Second, securitization of quarter the anticipate SBA our first pending the XXXX. regulatory we Xa closing by second end
XXXX. CLO loan first Third is the our for of fourth targeted transitional quarter
both cost increase expect of On to and advance our all funds. lower rates deals, we
Finally, to facilities. warehouse we our enhance continue
improve million $XXX and our expected growth additional of and XX on an rate facility. capacity added bridge to of funds cost points fund fixed have We basis
by to markets we've enterprise by increasing increased three portfolio. doubling growing our our our years equity value ago, over the XXX% and scale, Since public over XX%, introduction loan
continued activity billion, our XX by supported structure. capital This $X.X transactions securitization the over billion $X optimization growth over and of has of acquisition successful the of been and origination
the to hard-working clients small balance Ready the and loan for their continued of investors the of to Capital our of creation meet due establishment is employees needs the credit and properties. products of service Further, the owners processes that brand, development both commercial efficiently of
growth tactical and pursue efficiencies leverage operating to with we plan organically acquisitions. forward, Looking to further
SBC close quarter. the fourth $XXX expect of a in pipeline we to First, significant million the portion
portfolio and $XXX equals money-up SBC close the and million. on the million. $XXX lending In pipeline our gain segments, our money-up pipeline equals total sales segment, In close
healthy the at pipeline Additionally, remains million. acquisition $XXX
European our into loan transitional agreement is in Second, of with small million close located next to $XXX purchase the weeks million and expected Ireland, commence projected of loans balance to two portfolio commercial a which generate flow the entry will a in to annually. markets $XX up forward includes the
small of Third, that explore environment. we offerings addition our expand platforms continue the the commercial service to to product balance lending
previously recently As company Knight focused a working small providing businesses. unsecured Capital, we on to capital loans acquired announced,
to and platform Knight's increase business SBA earnings business. our to volume in lines lead other addition go-forward in efficiencies being share, Knight's increase we accretive per generation expect innovations to In to operating the technological
discussed our as previously, top expanding Finally, platform priority. remains a agency
increasing I'd a toward anticipate to with interest on and bridge like concrete We the our offer have exposure it capabilities the share movements. having over market in to sector the to made turning plans rate before headway more few And Andrew, to upcoming significant lending months. our thoughts and
manifest credit on of focused the over to from public loans, top influx started on those and million, largely private large of The REITs mortgage $XX pricing commercial behavior has lenders transitional perspective. a that late-cycle balance is,
in minimum most transitional lenders an with XX owe interest. interest, pricing, month additional months' prepays make of XX, a months' borrower terms that XX they loans is, if In three-year
CLOs, with XX deleveraging. prepayment estate higher-than-modeled This increases is We only evident rates months' minimum note in interest. that financing being many commercial now made costs loans real which on are from
moved maturity Now masquerade an by of with business defaults, lender. failing meet would at number increasing transitional into This which to in be sponsors we're out risk of believe sectors their credit, maturity be terms greater seeing execution business in higher-risk plans. another to we to lenders increasing as only plans industry-wide bailed
less plan. these balance a have loan from impacted trends are Additionally, year equity for date, our transitional lenders only our offering a portfolio. delinquency and To of ratio market, some a remain credit than a loans small XX-day-plus evident bridge takeout perspective, X% we not disciplined into in business
Now in is originated these The floating our of interest originated of bridge LIBOR of portfolio majority exposure, floor. which rate rate. product, with are are terms XX% our
LIBOR. to a our floor basis rate by LOIs swap the weighted we floors plus XX premium current risk our fixed portfolio, spread. mitigate to issuing In rate with a average equal pipeline rates Currently, point was
we rate also longer-duration assets on as to loan certain in to of well values, source our funds. situations, periods, short-term rates. cost swaps to a movements interest warehouse as rate we lock In mitigate And in liquidity. repo fair During use these fixed as changes mitigate significant circumstances, may of future in apply use we in hedges
financial off Andrew to that, discuss our hand to So I'll results. it with now
