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it it with target us determine determination. and daily captive data characteristics performance. of and The our for geographic target loan-by-loan our strategies patterns, servicer some loan on servicer, services helps affiliated servicer expectations loans asset-by-asset, captive of Some us market give servicing also to updating loan Again, drive our forecast borrower-by-borrower. performance analysis
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of In loans addition, significant we hold. have a we that number unlevered
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our to total our is in keep thing relative small that Another pretty is portfolio portfolio. mind NPL to
XXXX, portfolio. late of XX% was in you'll of Now, portfolio little now our as our and see, it's it over than X% more a
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condition So, without to regard and costs. of we're required go regard value without a selling to of valuation to the get fair the property
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at loss. have of you So, gain have time and sale the at tax tax frequently foreclosure, you a of a the time
Given and acquisitions. that are when versus a peaking, sales because of previously we our our selling REO QX peaking from REO is tax we we're loss sell the inventory those QX REO REO take and XXXX our our significant and now REO number of XXXX
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So we loans. non-performing eager non-performing we own the we and out That them, pretty own being additional cheap. to said, go we're buy not own, loans
LA purchased small concentration approximately Houston Long Diego to that a remains loan out, loans, at California XX%. portfolio. our in if not and is map in the again. Beach, particularly market. small look to number portfolio of is of similar to that San Our One Metro XX% we've to started also thing here pretty were Santa Englewood overall We've represents multifamily XX% quarter, is last commercial balance probably you that of still areas And Hawthorne, south Barbara,
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decided So, to we here. put it in
and issued things really convertible the you'll notes average in additional see is higher the debt cost slightly the we that's of August. One
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of of commercial. million small about million We've We already value, of to on. quarter. couple is low a this purchases have balance closed a it Very going prices $XX collateral UPB lot
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we partnership that with XX/XX We Blackrock. also bond a about $XXX million structure buying a are have in in
Gregory it last will Ajax about want in subject very which X% documentation well heard and initial in a to in and another late Great earlier Corp. that you million will the venture our old, And owners in requirements, to and we has our Funding, levered September each X round to then purchase will venture which early that I we own which XX% Dividend third of well preliminary payable as of XX. other to isn't bond November December joint acquire $XXX with with events, Corp. agreement Ajax the talk reached will this expect stockholders So, joint closed is subsequent a as to newer servicer, record acquire kickoff Blackrock to interest share is of. be be with close a a XX%. we structured thing $X.XX of presentation, warrants then December Great in structure DoubleLine than as that that
align existing see out for All in the it holders. new of to value and enable would Gregory be Funding Ajax Great services not it of have buying ventures, funding of joint Gregory And would terms a would over Gregory given lot we further optionality in our would also of the be this interests and demand capital time.
sheets two happy I'm that, statements. are and to with answer And Next have. any balance income pages you might questions
