Great Ajax Corp. announced its results of operations for the quarter ended March 31, 2020. The company reported a net income attributable to common stockholders of $0.4 million, with basic earnings per share of $0.02. The company collected total cash of $62.4 million from loan payments, sales of REO and investments in debt securities and beneficial interests. The company held $31.2 million of cash and cash equivalents at March 31, 2020.
Formed a joint venture that acquired $184.8 million in unpaid principal balance (“UPB”) of mortgage loans.
Purchased $0.2 million of non-performing mortgage loans and 26 RPLs for $1.2 million.
Interest income of $27.3 million; net interest income after provision for credit losses of $9.1 million.
Collected total cash of $62.4 million from loan payments, sales of real estate owned and investments in debt securities and beneficial interests.
The company expects to use the net proceeds from the private placement to acquire mortgage loans and mortgage-related assets consistent with our investment strategy. We expect the rate of new foreclosures to slow due to the current moratorium in many states.
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