Ready Capital is an approved Freddie Mac SBL Seller/Servicer, providing small balance loans from $1 million up to $7.5 million with both fixed- and hybrid- rate structures. We provide capital for acquisition, refinancing and cash-out requests, and take pride in delivering quick closings backed by flexibility and common-sense underwriting.
Check out our most recent transactions & client testimonials:
10 Year Term
10 Year Term
“The level of teamwork between the different departments is really superb. It’s nice to work with a lender where the synergy between the people who are involved in the loan work towards a common goal and where the flow of information internally enhances the loan process, not hinders it.”
“Overall, I had a great experience working with everyone on the Ready Capital team and was very impressed. My loan officer was quick to respond to any questions and the closing team was very efficient, given a tight schedule. It was a smooth process and I would definitely choose to work with Ready Capital again in the future.”
10 Year Term
Green Bay, WI
20 Year Term
“It’s been a pleasure working with Ready Capital on this new opportunity, and I would like to express my highest appreciation and respect to everyone who worked diligently with us to get our deal to closure.”
3 Year Term
3 Year Term
Ready Capital provides competitive programs to meet a wide range of borrower needs. Contact one of our loan professionals for more information.
Multifamily with 5+ units
Short term bridge to Freddie also available
|Rates||Call for current rates|
|Loan Size||$1mm to $7.5mm|
|Loan Purpose||Purchase, refinance, cash out|
5, 7, 10 year fixed
20 year hybrid ARM with initial 5, 7, 10 year fixed
80% top and standard markets
70% small and very small markets (75% for acquisitions)
|Recourse||Non-recourse with standard carve our provisions required|
Step down prepay
|Debt Service Coverage||
1.20x top market
1.25x standard market
1.30x small market
1.40x very small market
Partial term interest only
Full term interest only may be available
Up to 30 years amortization
|Property Types||Primarily office, retail, multifamily, self-storage and industrial|
|Rates||Competitive rates priced off of SWAPs|
|Loan Size||$750,000 to $20,000,000 primarily|
|Loan Purpose||Refinance, cash out & acquisition|
Loan terms for 2 years to 10 years
Can consider other terms on case-by-case basis
|Leverage||Up to 80% in select markets|
|Recourse||Non-recourse with standard carveouts|
Can offer yield maintenance, step-down and up to 20% UPB
Can be repaid on a rolling 12 month basis without prepayment penalty
|Debt Service Coverage||As low as 1.20x|
Up to 30 year amortization
Interest only available
Contact a Production Officer or a member of our production team for more information for your area or market. All of our Production Officers have the ability to lend nationwide. If you need further information, please contact email@example.com.
NEW YORK, Sept. 24, 2018 /PRNewswire/ — Sutherland Asset Management Corporation (NYSE: SLD) announced that, effective 12:01 a.m. Eastern Time on September 26, 2018, it will change its name to “Ready Capital Corporation”.
“The Ready Capital brand represents part of our larger strategy to improve shareholder value,” said Tom Capasse, Chief Executive Officer. “We believe, with this rebrand, we have simplified our story, and now can prominently feature our lending products and services for our clients.”
“The rebranding initiative further signifies our commitment to the sector,” said Carole Mortensen, Chief Operating Officer. “Our goal is to position the Ready Capital brand as a proven leader in mortgage finance with the reputation of possessing a flexible credit philosophy, yet strong investment discipline. Simply stated, this is who we are.”
In connection with the name change, effective on October 1, 2018, the Company’s trading symbols on the New York Stock Exchange will change from “SLD” to “RC” for shares of the Company’s common stock, and from “SLDA” to “RCA” for the Company’s 7.00% convertible senior notes due 2023, and from “SLDD” to “RCP” for the Company’s 6.50% senior notes due 2021. Following the name change, the new CUSIP number for the Company’s common stock will be 75574U101, the new CUSIP number for the Company’s 7.00% convertible senior notes due 2023 will be 75574U200, and the new CUSIP number for the Company’s 6.50% senior notes due 2021 will be 75574U309.
About Sutherland Asset Management Corporation
Sutherland Asset Management Corporation (NYSE: SLD) is a REIT that originates, acquires, finances, services and manages primarily small balance commercial (“SBC”) loans, U.S. Small Business Administration loans under its Section 7(a) program, and residential mortgage loans. The Company originates SBC loans through its ReadyCap Lending subsidiaries and originates residential mortgage loans through its GMFS subsidiary. The Company is externally managed and advised by Waterfall Asset Management, LLC.
Sutherland Asset Management
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