Show from 03/15/24

Host Jeremy Schwartz and Professor Siegel dig in this week on the most current market information, starting off by talking about the CPI and PPI outcomes. The Prof states the market seems to have bottomed out and is not going lower. Tom and Professor Seigel agree that the commercial real estate market has really suffered. (13:31) Jeremy continues on with Tom who gives us a breakdown of what Ready Capital is all about. Tom talks through a normal transaction cycle and explains bridge financing. He comments on how interest rates have impacted the commercial real estate market. Jeremy asks about commercial mortgage REITs and the discounts people are seeing. Tom also gives us more details on how their SBA loans work and what pressures he sees in the banking community.

Guest: Thomas Capasse serves as Chairman of our board of directors, Chief Executive Officer, and Chief Investment Officer. Mr. Capasse is also a Principal and co-founder of Ready Capital’s external manager, Waterfall Asset Management, LLC. Prior to founding our Manager, Mr. Capasse managed the principal finance groups at Greenwich Capital from 1995 until 1997, Nomura Securities from 1997 until 2001, and Macquarie Securities from 2001 until 2004. Mr. Capasse has significant and long standing experience in the securitization market as a founding member of Merrill Lynch’s ABS Group (1983—1994) with a focus on MBS transactions (including the initial Subprime Mortgage and Manufactured Housing ABS) and experience in many other ABS sectors. Mr. Capasse began his career as a fixed income analyst at Dean Witter and Bank of Boston. Mr. Capasse received a Bachelor of Arts degree in Economics from Bowdoin College in 1979.

Learn more about Thomas at: https://readycapital.com/professionals/thomas-capasse/

Follow Thomas on LinkedIn: linkedin.com/in/tom-capasse-6470782