Granite Point Mortgage Trust Inc. reported a GAAP net loss attributable to common stockholders of $0.6 million, or $0.01 per basic weighted average common share, for the third quarter of 2025. The company recognized a benefit from credit losses of $1.6 million, or $0.03 per share. At quarter end, Granite Point held two REO properties with a total carrying value of $105.5 million and maintained a 97% floating rate loan portfolio with $1.8 billion in total loan commitments, over 99% of which were senior loans. The portfolio had a weighted average stabilized loan-to-value at origination of 65.0% and a realized loan portfolio yield of 7.5%. The total CECL reserve was $133.6 million, representing 7.4% of total loan portfolio commitments. The company ended the quarter with $62.7 million in unrestricted cash and a total leverage ratio of 1.9x. The maturity of its secured credit facility was extended to December 2026, with the financing spread reduced by 75 basis points and borrowings reduced by $7.5 million. Post quarter-end, Granite Point funded $2.3 million on existing loan commitments, received a full loan repayment of $32.7 million, and refinanced a Maynard, MA REO asset with an $18.0 million first mortgage. As of November 3, 2025, unrestricted cash was approximately $80.1 million.