New York-based Sutherland Asset Management Corp. revealed that it has changed its name to Ready Capital Corp.
“The Ready Capital brand represents part of our larger strategy to improve shareholder value,” said Tom Capasse, Chief Executive Officer. “We believe, with this rebrand, we have simplified our story, and now can prominently feature our lending products and services for our clients.”
“The rebranding initiative further signifies our commitment to the sector,” said Carole Mortensen, Chief Operating Officer. “Our goal is to position the Ready Capital brand as a proven leader in mortgage finance with the reputation of possessing a flexible credit philosophy, yet strong investment discipline. Simply stated, this is who we are.”
In connection with the name change, effective on October 1, 2018, the company’s trading symbols on the New York Stock Exchange will change from “SLD” to “RC” for shares of the Company’s common stock, and from “SLDA” to “RCA” for the Company’s 7.00% convertible senior notes due 2023, and from “SLDD” to “RCP” for the Company’s 6.50% senior notes due 2021.
Sutherland Asset Management is a REIT that originates, acquires, finances, services and manages primarily small balance commercial loans. The Company originates SBC loans through its ReadyCap Lending subsidiaries and originates residential mortgage loans through its GMFS subsidiary.