v3.26.1
UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 200,430 $ 207,841
Restricted cash 38,906 39,746
Loans, net (including $462 and $737 held at fair value) 3,350,560 3,500,298
Loans, held for sale (including $87,198 and $73,094 held at fair value and net of valuation allowance of $74,315 and $67,612) 360,228 585,820
Mortgage-backed securities 31,649 34,501
Investment in unconsolidated joint ventures (including $5,517 and $5,737 held at fair value) 167,251 161,424
Derivative instruments 4,104 6,740
Servicing rights 123,687 126,279
Real estate owned 610,215 620,225
Other assets 466,383 508,238
Assets of consolidated VIEs 960,875 1,978,684
Total Assets 6,314,288 7,769,796
Liabilities    
Senior secured notes, net 723,707 722,729
Corporate debt, net 536,972 652,487
Guaranteed loan financing 501,736 524,091
Contingent consideration 20,441 18,698
Derivative instruments 948 1,432
Dividends payable 3,685 3,633
Loan participations sold 56,616 56,616
Due to third parties 12,304 3,135
Accounts payable and other accrued liabilities 161,201 171,636
Total Liabilities 4,865,588 6,118,168
Preferred stock Series C, liquidation preference $25.00 per share (refer to Note 20) 8,361 8,361
Commitments & contingencies (refer to Note 24)
Stockholders’ Equity    
Preferred stock Series E, liquidation preference $25.00 per share (refer to Note 20) 111,378 111,378
Common stock, $0.0001 par value, 500,000,000 shares authorized, 165,255,559 and 163,010,012 shares issued and outstanding, respectively 17 17
Additional paid-in capital 2,265,534 2,264,355
Retained deficit (1,012,927) (807,522)
Accumulated other comprehensive loss (24,476) (24,196)
Total Ready Capital Corporation equity 1,339,526 1,544,032
Non-controlling interests 100,813 99,235
Total Stockholders’ Equity 1,440,339 1,643,267
Total Liabilities, Redeemable Preferred Stock, and Stockholders’ Equity 6,314,288 7,769,796
Consolidated Excluding VIEs    
Assets    
Loans, held for sale (including $87,198 and $73,094 held at fair value and net of valuation allowance of $74,315 and $67,612) 360,228 585,820
Liabilities    
Secured borrowings and Securitized debt obligations of consolidated VIEs, net 2,321,443 2,788,926
Consolidated VIEs    
Assets    
Cash and cash equivalents 803 3
Restricted cash 1,064 1,944
Loans, held for sale (including $87,198 and $73,094 held at fair value and net of valuation allowance of $74,315 and $67,612) 0 125,107
Real estate owned 15,288 15,288
Assets of consolidated VIEs 960,875 1,978,684
Liabilities    
Secured borrowings and Securitized debt obligations of consolidated VIEs, net 526,535 1,174,785
Due to third parties 3,313 2,517
Accounts payable and other accrued liabilities 4 0
Total Liabilities $ 529,852 $ 1,177,302