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 "markdown": "Capitalization\n\n\n[ORANGE_DOT_PATTERN]\nREADY CAPITAL\u00ae\n\n\n<figure type=\"CHART\">\n\n<description>The figure presents a stacked bar chart comparing Debt Balance ($ in millions) and Leverage Ratio across five categories of debt. The chart consists of two parallel vertical bars, each segmented into five color-coded blocks representing different debt types: PPPLF (yellow), Securitized Debt Obligations (green), Non-Recourse Secured Borrowings (red), Recourse Secured Borrowings (dark blue), and Corporate Debt (orange). A red dashed box surrounds the bottom two categories: Recourse Secured Borrowings and Corporate Debt.</description> <table><thead><tr><th>Category</th><th>Debt Balance ($ in millions)</th><th>Leverage Ratio</th></tr></thead><tbody><tr><td>PPPLF</td><td>$4</td><td>0.0x</td></tr><tr><td>Securitized Debt Obligations</td><td>$527</td><td>0.4x</td></tr><tr><td>Non-Recourse Secured Borrowings</td><td>$1,128</td><td>0.8x</td></tr><tr><td>Recourse Secured Borrowings</td><td>$1,193</td><td>0.9x</td></tr><tr><td>Corporate Debt</td><td>$1,261</td><td>0.9x</td></tr></tbody></table></figure>\n\n<figure type=\"CHART\">UNENCUMBERED ASSET POOL \n\n<description>A donut chart illustrating the composition of an unencumbered asset pool totaling $0.7B. The chart is divided into five segments representing different asset classes.</description> <table><thead><tr><th>Category</th><th>Percentage</th></tr></thead><tbody><tr><td>Unrestricted cash</td><td>27%</td></tr><tr><td>Loans</td><td>20%</td></tr><tr><td>Servicing rights</td><td>17%</td></tr><tr><td>REO</td><td>11%</td></tr><tr><td>Other Assets</td><td>25%</td></tr></tbody></table></figure>\n\n# HIGHLIGHTS\n\n- **1.4x** unencumbered assets to unsecured debt\n- **$1.9 billion** in available warehouse borrowing capacity across\n13 counterparties\n- Limited usage of securities repo financing at **3.0%** of total debt\n- Full mark-to-market liabilities and credit mark-to-market\nliabilities represent **47%** of total debt\n\n\n14\n\n<!-- doc_id=parse-01m1xzgarj5p8rtwfy35x52q85 -->",
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