Commitments (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Activity Related to HMBS Repurchases

The table below provides the breakdown of the portfolio UPB with respect to the percentage of the MCA at March 31, 2025.



Securitized HECM loans at less than 92% MCA	$	8,774.3
Securitized HECM loans at equal to or greater than 92% and less than 95% MCA	605.6
Securitized HECM loans at equal to or greater than 95% MCA and less than 98% MCA	676.8
Total Securitized HECM loans UPB	$	10,056.7

Activity with regard to HMBS repurchases for the three months ended March 31, 2025 is as follows:



	Active (2)		Inactive		Total

Beginning balance	$	68.5	$	159.5		$	228.0
Additions	103.0		53.9			156.9
Recoveries, net (1)	(68.2)		(8.7)			(76.9)
Transfers	4.9		(4.9)			—
Changes in value	0.2		(4.2)			(4.0)
Ending balance	$	108.5	$	195.6		$	304.1

(1)Includes amounts received upon assignment of loan to HUD, loan payoff, REO liquidation and claim proceeds less any amounts charged off as unrecoverable.

(2)Excludes $381.6 million UPB in loans directly assigned to HUD from the underlying Ginnie Mae securities without a cash repurchase from us.