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RC-PC| Name | Value |
|---|---|
| Revenues | 251.2M |
| Cost of Revenue | 26.2M |
| Gross Profit | 225.1M |
| Operating Expense | 70.1M |
| Operating I/L | 122.4M |
| Other Income/Expense | -99.3M |
| Interest Income | 234.1M |
| Pretax | -80.0M |
| Income Tax Expense | -48.6M |
| Net Income/Loss | -38.3M |
Ready Capital Corporation is a real estate finance company in the United States, specializing in acquiring, originating, managing, servicing, and financing small to medium balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans. The company operates through three segments: SBC Lending and Acquisitions, Small Business Lending, and Residential Mortgage Banking. It generates revenue by originating SBC loans secured by stabilized or transitional investor properties, acquiring and servicing owner-occupied loans guaranteed by the SBA, and originating residential mortgage loans. Ready Capital Corporation qualifies as a real estate investment trust for federal income tax purposes, allowing it to avoid federal corporate income taxes by distributing at least 90% of its taxable income to stockholders.
