Great Ajax Corp (NYSE:AJX)
$ 3.39 0.15 (4.63%) Market Cap: 125.37 Mil Enterprise Value: 237.83 Mil PE Ratio: 0 PB Ratio: 0.49 GF Score: 55/100
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Q1 2023 Great Ajax Corp Earnings Call Transcript

May 04, 2023 / 09:00PM GMT
Release Date Price: $5.93 (-1.50%)
Operator

Good day, everyone, and welcome to the Great Ajax Corp. Q1 2023 Financial Results Conference Call. At this time, I would like to hand things over to Mr. Larry Mendelsohn, CEO. Please go ahead, sir.

Lawrence A. Mendelsohn
Great Ajax Corp. - Chairman & CEO

Thank you. Thank you, everyone, for joining us for our first quarter 2023 investor call. Before we get started, I'd like to point out Page 2, the safe harbor disclosure for forward-looking statements. I apologize for my voice. The allergy season in Portland is [waning] right now.

Before we get started, I want to give you a little introduction. Q1 of 2023 was as expected and predominantly as we discussed on the March 2 call. A couple of things to note before we get into the details though.

In the first quarter, loan performance continued to increase and loan cash flow velocity from reinstatements on delinquent loans and from sales of homes by borrowers, particularly in March. This continued into the second quarter of 2023 as well. Prepayments from borrowers refinancing the mortgages,

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