Discontinued — last reported Q3 '23
Finance charge income
Ready Capital Finance charge income decreased by 28.6% to $7.06M in Q3 2023 compared to the prior quarter. Year-over-year, this metric declined by 41.4%, from $12.05M to $7.06M. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
Higher income indicates a larger loan portfolio or higher interest rate environment, though it must be balanced against potential credit loss risks.
Detailed definition
Income derived from interest charges and associated fees on consumer loans or financing products provided to customers....
Peer comparison
Standard for financial services divisions within manufacturing companies or standalone consumer finance firms.
other_interest_and_fee_income_loans_consumerHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Value | $36.69M | $37.27M | $21.93M | $8.42M | $2.95M | $12.05M | $549.00K | $9.17M | $9.88M | $7.06M |
| QoQ Change | — | +1.6% | -41.2% | -61.6% | -65.0% | +309.0% | -95.4% | >999% | +7.8% | -28.6% |
| YoY Change | — | — | — | — | -92.0% | -67.7% | -97.5% | +8.8% | +235.4% | -41.4% |
Business Segments
| Segment | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|
| Residential Mortgage Banking | $21.93M | $8.42M | $2.95M | $12.05M | $549.00K | $9.17M | $9.88M | $7.06M |
| Total | $21.93M | $8.42M | $2.95M | $12.05M | $549.00K | $9.17M | $9.88M | $7.06M |
Residential Mortgage Banking was previously reported and has since been discontinued or reclassified. Only currently active segments are shown in the chart.
Finance charge income at Other Companies
Frequently Asked Questions
- What is Ready Capital's finance charge income?
- Ready Capital (RC) reported finance charge income of $7.06M in Q3 2023.
- How has Ready Capital's finance charge income changed year-over-year?
- Ready Capital's finance charge income decreased by 41.4% year-over-year, from $12.05M to $7.06M.
- What does finance charge income mean?
- Revenue earned from interest and fees on consumer loans.