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Great Ajax Corp T.AJX


Primary Symbol: AJX

Great Ajax Corp. is an externally managed real estate company. The Company’s primary business is acquiring, investing in and managing a portfolio of mortgage loans. The Company operates in a single segment focused on re-performing mortgages, and to a lesser extent non-performing mortgages and real property. The Company primarily targets acquisitions of re-performing loans (RPLs), which are residential mortgage loans and non-performing loans (NPLs), which are residential mortgages. It invests in single-family and smaller commercial properties directly either through a foreclosure event of a loan in its mortgage portfolio, or, less frequently, through a direct acquisition. It may acquire RPLs and NPLs either directly or in joint ventures with institutional accredited investors. It may also acquire or originate small balance commercial loans. Its manager is Thetis Asset Management LLC. It conducts its business through its operating partnership, Great Ajax Operating Partnership L.P.


NYSE:AJX - Post by User

Comment by dt_coreon Mar 24, 2020 3:22pm
155 Views
Post# 30842843

RE:RE:Post conference call

RE:RE:Post conference callThe OEM agreement with Claas was signed in 2014 and that's still in force today but notifcation was recieved that this was not being renewed after 2020. You can search old AJX press releases to see the original announcement with Claas (and it was indirectly referenced in the recent press release announcing the notification to terminate this contract end of this year). The BPO with Claas was an additional agreement that had a finite term and that was disclosed from the start so no notification of termination would happen.

Major customers are Claas (about $14mm revenue pre BPO), and Stara (about $10mm revenue). These two customers constitute the bulk of AJX sales today, probably around 60% of total sales so yes they are "major" customers to the firm. 
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