Axos refutes short-seller claims on CRE loan quality, cites 40% avg LTV

Axos Financial, Inc.

CRE Specialty portfolio $5.22B with weighted avg LTV 40%; fund partners take first-loss risk (Carlyle, Related, Fortress).
Multifamily mortgages avg LTV 55% at origination; significant portion repriced with increased prepayment speed.
Specific loan rebuttals: 147-35 95th Ave 98% complete; 960 Franklin Ave land purchased April 2024, work commencing.
Warehouse lines to A&D Mortgage fully repaid Sept 2020; Commerce line in good standing.
No material change in credit performance since last earnings call; short-seller report called misleading.

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