Ready Capital Reports $1.4 B Cash Generation and Q2 2026 Net Loss

Ready Capital Corporation generated about $1.4 billion in cash year‑to‑date from loan sales and portfolio runoff. The proceeds were used to pay down more than $1.0 billion of asset‑level financing and retire $184 million of corporate debt, including its 6.20% senior unsecured notes. The firm also completed a $158.2 million securitisation of unguaranteed SBA 7(a) loans, adding $24.6 million of net liquidity and $500 million of additional funding capacity.

In the second quarter of 2026, loan originations totaled $278.8 million, with a book value of $6.83 per common share. GAAP net loss attributable to common shareholders was $103.5 million, or $0.63 per share, and distributable loss was $77.6 million, or $0.47 per share. Ready Capital ended the quarter with $124 million in cash, $690 million of unencumbered assets, and a total leverage ratio of 3.0×. The earnings call featured CFO Andrew Ahlborn and Chairman/CEO Tom Capasse discussing the results and forward‑looking outlook.