Our Portfolio

Earnings Growth Strategy

1. Focus: We are focused on loan portfolio opportunities in markets where the Company sees a competitive advantage and competition is less due to operational barriers to entry.
2. Safety: We found certain loan sectors attractive due to new financing arrangements that can be structured with non-mark-to-market features or term financing available through the securitization market. In other cases, financing is unnecessary due to the high projected return on the investment.
3. Execution: We continue to close attractive new loan arrangements within the multifamily and single family sector, including flow and bulk purchases, allowing for a return opportunity in the teens after financing.

In addition to the above, there are three key elements to our investment strategy:

1. We take a patient approach to balance sheet growth through a proprietary mix of single family and multifamily direct investments.
2. We opportunistically acquire other types of assets that meet our investment criteria
3. We sell certain assets within our portfolio when realized gains and the reinvestment potential for the sale proceeds are consistent with our long-term return objectives

We believe that our stockholders will continue to benefit from improving credit metrics, and the combination of net interest margin and net realized capital gains from our diversified investment portfolio.