SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
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| Schedule of Components of Provision (Benefit) for Credit Losses |
| | | | | | | | | | For the three months ended | | | | March 31, | | Components of Provision (Benefit) for Credit Losses (in thousands) | | 2025 | | 2024 | | Provision (benefit) for loan losses | | $ | — | | $ | 2,001 | | Provision (benefit) for risk-sharing obligations | | | 3,712 | | | (1,477) | | Provision (benefit) for loan credit losses | | | 3,712 | | | 524 | | Provision (benefit) for other credit losses | | | — | | | — | | Provision (benefit) for credit losses | | $ | 3,712 | | $ | 524 | |
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| Schedule of Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents |
| | | | | | | | | | | | | | March 31, | | December 31, | | (in thousands) | 2025 | | 2024 | | 2024 | | 2023 | | Cash and cash equivalents | $ | 180,971 | | $ | 216,532 | | $ | 279,270 | | $ | 328,698 | | Restricted cash | | 32,268 | | | 21,071 | | | 25,156 | | | 21,422 | | Pledged cash and cash equivalents (NOTE 9) | | 16,195 | | | 42,994 | | | 23,472 | | | 41,283 | | Total cash, cash equivalents, restricted cash, and restricted cash equivalents | $ | 229,434 | | $ | 280,597 | | $ | 327,898 | | $ | 391,403 | |
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| Schedule of Net Warehouse Interest Income (Expense) |
| | | | | | | | | For the three months ended | (in thousands) | | March 31, | Components of Net Warehouse Interest Income (Expense) | | 2025 | | 2024 | Warehouse interest income | | $ | 6,574 | | $ | 7,493 | Warehouse interest expense | | | (7,360) | | | (8,609) | Net warehouse interest income (expense) | | $ | (786) | | $ | (1,116) |
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| Schedule of Contracts with Customers |
| | | | | | | | | | | For the three months ended | | | | | March 31, | | | Description | | 2025 | | 2024 | | Statement of income line item | Certain loan origination fees | | $ | 16,734 | | $ | 17,787 | | Loan origination and debt brokerage fees, net | Property sales broker fees | | | 13,521 | | | 8,821 | | Property sales broker fees | Investment management fees | | | 9,682 | | | 13,520 | | Investment management fees | Investment banking revenues, appraisal revenues, subscription revenues, syndication fees, and other revenues | | | 18,027 | | | 12,275 | | Other revenues | Total revenues derived from contracts with customers | | $ | 57,964 | | $ | 52,403 | | | | | | | | | | | |
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