Okay, so typically, you don’t have caps on how much you can sell to each insurance company. But an ideal world would become irrelevant, if you’re selling a monthly basis 75 million to an insurance company, you become irrelevant to them. So for us, the target is to be selling 75 million at a clip a month to each insurance counterparty that we’re dealing with. Like, we don’t want to sell 5 million or 10 million because it doesn’t, we’re not we won’t become relevant to them. So we have to quickly get to 75 million a month, because then we become very, we fit on a partner to these insurance companies. So that’s on that’s on the term side. And then we look at the transitional side. Typically, it’s similar, if you’re going to sell the insurance companies you got to sell typically 50 to 75 million slugs in order to become irrelevant, so they’re not going to look at you unless you get to that size.
So with that, that’s our strategies is to get in that kind of to get to that kind of level. We’re capable of getting that kind of volume numbers. I think the kind of person we’re talking to him or sign up with no, we can get there and that’s why they signed up with us directly. So yes, that’s hopefully that helps, Matt.
Matthew Howlett: Yes, it does. And thanks for clarifying that. It’s certainly great to hear about what you know what they’re seeing on the other side. It’s just that you can deliver them this this product. It’s just an incredible model. And I guess that’s my next question on the margins look like you went, they went up on the RTL last time you gave it to us. Just curious, what’s driving that? And you’ll get it to 350 margin. And then what long-term do you look at as sustainable for you?
Jason Kopcak: Look, I’ve been around the space a long time. And I’ve seen on the RTL side, on transitional loan side, I’ve seen margins rise 500, 600 points. So typically as the market has more involvement, so when there’s more securitizations, and more players in the spread is actually wide now. So current in the current market, when there’s a shake of this going on and what on last year in the securitization market, and this year’s score on the bank sector in the short run, it shakes out a lot that weak players, a lot of people who don’t have good capital markets don’t have good takeout partners just don’t have the infrastructure to handle a tough environment. So again, when we start able to originate 50 million 75 million month, that’s the ability to deliver into insurance companies.
With that being said, we’ve noticed there’s a lack of liquidity. And when I say that to, borrowers just can’t go to any shop now and close your loans, while the smaller to medium size players are getting shook and shook out. That’s why a lot of these guys are coming to us, for us to fund wholesale wise. So with that being said, our spreads have widened our spreads have widened because we’re a liquidity provider. We know that what we have is valuable. And so we’ve been able to exercise pricing control, because we are a liquidity provider. And we have capital and we have, good strong takeout partners that have permanent capital. So our spreads have widened, because we’re not a price taker at this point in the market. So that’s why on the transitional loans, our spreads have widened.