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There's no additional acquisition costs for clients in our ecosystem, creating even more operating leverage. This process can often be delayed at the collateral underwriter review stage where workloads are already substantial. The ability to leverage technology is crucial to scale, drive profitable growth, and adapt to market shifts.
Thanks to fast portfolio growth and impressive operating leverage, servicing income reached $273 million. A great customer experience leads to strong retention, which maximizes returns and makes us the best bid for acquiring MSRs. This leverage is the payoff from the intense focus on technology and operations that Jay discussed.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter Sign up About OHA: OHA is a leading global alternative investment firm specializing in private lending, distressed credit, structured credit, real assets, special situations, leveraged loans and high yield bonds.
Economic leverage ticked down slightly to 5.7 And within these coupons, only a small fraction of our pools are backed by generic collateral and approximately 70% have what we would characterize as high-quality prepayment protection and the benefits of our collateral selection were best seen in the latest prepayment report.
And we achieved these results with lower economic leverage, which declined to 5.7 And these securitizations generated $290 million of assets at projected mid-teens returns utilizing modest recourse leverage. We were well-positioned to take advantage of this environment, delivering a 10.1% turns at the end of the quarter.
And is there maybe a pull-forward of some expenses from next year in order to position you for improved positive operating leverage? So, it's important when you consider all this, our revenue and expense, that we are firmly committed to generating positive operating leverage over the back half of 2024. Five of those are office related.
But suffice it to say, over the last decade, we've acquired hundreds of portfolios, totaling over 700 billion from more than 1,500 sellers, which, by the way, gives us a significant information advantage when bidding for pools. The primary driver of incremental returns in the future will likely be profitability rather than leverage.
million shares plus any additional shares issued as we continue to fund new investments accretively with equity while maintaining leverage under five times. We could do all acquisitions accretively using equity right now, and we want to continue to maintain our leverage less than five times. I mean it's a fully collateralized loan.
By leveraging AI, we will transform an industry that is ripe for innovation, establishing Rocket as the premier choice for clients and partners, including local real estate agents, mortgage brokers and financial institutions. Today, we're in an even better position to drive operating leverage through automation and AI.
This playbook leverages our know-how and capabilities to support our customers globally and doing so in the right way. With investment-grade ratings from two agencies, the company will now benefit from lower interest rates and fees and the elimination of all collateral requirements for both our $1.25 Every day is a challenge.
These supply agreements for Euro 6 and Euro 7 LPG systems add materially to our revenue and market share and leverages our existing engineering and production capabilities. We finalized a share consolidation in June which led to the regaining of compliance with NASDAQ's minimum bid requirements. During the second quarter, we paid $8.7
Brian Higgins has put together a amazing track record handling distressed and stressed debts, as well as other forms of credit real estate collateralized obligations. But if you go back to the, the question on, you know, high yield and, and how it’s differentiated, there was just a lot more leverage back then.
You know, people are comfortable, leverage builds. RITHOLTZ: You hit the bid before — RIEDER: Well, yes. You know, the leverage in the system builds. It’s the collateral. Treasury is the collateral in the world that is underneath, you know, most transactions in the world. RIEDER: Yeah.
They borrowed money at live bid at the time. Perhaps most famously you guys put on a CO bet, a collateralized debt obligation bet that was designed to do well if housing made some extreme moves and it was non-directional, it was hedged. And so they, they have many, many different business lines there. So it was their excess cash.
There would’ve been no bid. And I think a lot of investors and, and lenders and really lost their way and agreed to terms and conditions that in under today’s market environment would not be acceptable levels of leverage that would not work. But for you guys, there’s no bid. That’s an example.
And what was interesting was the first leveraged buyout of a public company happened when I was in graduate school. KLINSKY: In 1979, it was the first leveraged buyout of a public company. We had sold the family business, maybe buy another family business one day through a leveraged buyout. So I’m proud of our role in it.
MILLER: The collateral won’t be adequate in our view. And they found on average, when you have a crisis that originates in the finance sector due to too much leverage, too much speculation, on average markets get cut in half and real estate loses about 30% of its value. Or could, would, or wouldn’t be.
The more investors that buy the stock, the higher its price gets bid up, enabling even more purchases in a self-sustaining cycle. The advantage here is that the company's share price has tended to rise faster than Bitcoin's price because it uses leverage to make its purchases. But there's a major risk here.
Our sizable scale and technology advantage has allowed us to generate positive operating leverage and rising returns on tangible equity. First, we will stay laser-focused on unit costs leveraging our lead in technology. In fact, we are more than 50% larger than No. We also took over the lead in subservicing. Turning to the portfolio.
So you could say instead of buying a million dollars of the s and p 500, I’m gonna take $50,000, use it as cash collateral to buy s and p 500 futures, a million dollars of s and p 500 futures, which will give me the total return. This is implicitly leverage. Leverage is a tool that accentuates both the good and the bad.
You need to read all of the following article: “The flawed math behind Elon Musk’s Twitter deal – An overleveraged billionaire’s bid for an overvalued company may signal the last gasp in an age of magical thinking about markets” – Washington Post. That leaves only 10 percent of his Tesla shares available as collateral.
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