Entering into a contract to acquire a small residential mortgage servicer to bring servicing capabilities in-house, specifically targeting delinquent assets.

Expected impact: Enhances vertical integration, reduces reliance on third-party subservicers, mitigates principal-agent conflicts, and provides direct control over foreclosure timelines, REO liquidations, and loan modifications.

Expanding the EFMT-branded securitization program to encompass five different residential loan sectors, including non-QM, second liens, reverse mortgages, residential transition loans (RTL), and agency-eligible loans.

Expected impact: Allows the company to term out financing on a non-recourse, non-mark-to-market basis, replacing repo financing and enhancing balance sheet resilience and capital efficiency.

Redeeming high-cost Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock using proceeds from common stock offerings and shifting the liability profile toward long-term unsecured notes.

Expected impact: Reduces the overall cost of capital for common shareholders, increases unencumbered assets to $1.77 billion (90%-95% of total equity), and immunizes the balance sheet against short-term liquidity shocks.