Granite Point Mortgage Trust Q2 Earnings Call Highlights
Granite Point Mortgage Trust (NYSE:GPMT) reported Q2 updates on reserves and loan resolutions. About 78% of its allowance was for individually assessed loans. It had $253m principal on five risk-rated loans with CECL reserves of ~$120m (47.4%). The quarter saw ~$122m net portfolio reduction, $58m unrestricted cash, and leverage of 1.9x.
