I'd like to ask you, Alison Williams, and Ana Ramos, what is the BIGGEST RISK?
Alison Williams
Anna, do you want to start?
Ana Ramos
Yeah, you know, it's interesting, because I think there's a lot of risk in what we do. And I think I'm pretty aggressive. I think we underwrite our loans pretty well, we're at a 125 120 debt cover over breakeven. Yes, we are a non recourse loan, but we vet it out the client. So when I assess risk, I'm looking at risk. It's more for the borrower, the risk of capturing the rate in today's environment, I the way we underwrite the way we get our values, the way we package the file. I think the agency when you look at agency, historically, our losses are very minor. So if being as in on the origination side, I would love to be much more aggressive and see more. But we don't we don't see that a lot. So it's really hard to speak on that, at least for me, because we don't see a lot of that the losses are there. They're unheard of. And it's very, very small. Just because of the way everything is packaged and the way everything is the way we underwrite the transaction, the property the sponsor, the management and we service the loans and how often we service and how involved we are with the loans from beginning to end and also through the life of the loan. So for me, it would be more the borrower side that today I think it's really critical, especially in today's environment is to lock that interest rate because of the risk and the volatility.
Alison Williams
I'd echo Ana's comments, but I'll take a slightly different take. And I think what concerns me the most when I think about today is affordable housing. There's just a massive demand for affordability right now. And every market with the amount of rent and growth that we've seen in every city. I'm currently in Tampa, we had 25%, and rent growth year over year. And we're just starting to see, you know, just the lack of affordability. And with a lack of vacant land and where you can build and raising, you know, construction costs and rising interest rate, it's going to become much more challenging to build affordable housing to fit the needs of, you know, the average American. So I think that, to me, is when I think about the future, and my daughter and that kind of stuff, I just think about like, wow, we've got to tackle this affordable housing crisis that we're dealing with right now.