New York Mortgage Trust Inc (NYMT)

[Zexcaliber]

https://finance.yahoo.com/news/edited-transcript-nymt-earnings-conference-012116623.html

" will now move over to Slide 6, our overview section. As of March 31, 2020, our investment portfolio totaled $3 billion, and our total market capitalization was $800 million. As of last night's close, our total market capitalization had moved up to $1.1 billion. Today, our investment portfolios are 100% focused on credit strategies, choosing to manage our strength of asset management in both residential and multifamily, while reducing our dependency on mark-to-market leverage. We have 57 professionals employed across 3 offices, all working from home since March 13."

"On March 23, we stopped meeting margin calls and began discussions on some form of forbearance relief from our securities lenders. Over the course of the next 2 weeks, we sold over $2 billion of assets, including 100% of our Agency portfolio and 100% of our Freddie K PO portfolio, reducing our securities repurchase borrowings by over $1.6 billion. By April 7, we were able to pay an additional $560 million in repurchase agreements by utilizing a $213 million in proceeds from sales initiated in March and $250 million in increased borrowings from our residential loan portfolio. As of today, the company has 3 lenders with a total outstanding of $1.1 billion in borrowings. We are in good standing with all, and ultimately, we never entered into any formal forbearance agreements. In addition, we have over $200 million in cash and $1.5 billion in unencumbered investments today."

Does this sound like a company that knows what they are doing ... HELL YES!