v3.25.2
Interest Income and Interest Expense
 6 Months Ended
Jun. 30, 2025
Banking and Thrift, Interest [Abstract]  
Interest Income and Interest Expense Interest Income and Interest Expense
The following table presents the components of the Company’s interest income and interest expense for the three and six months ended June 30, 2025 and 2024:
Three Months EndedSix Months Ended
June 30,June 30,
2025202420252024
Interest income:
Available-for-sale securities$108,842 $99,211 $209,260 $199,816 
Mortgage loans held-for-sale145 3 198 4 
Other8,095 16,739 19,006 33,916 
Total interest income117,082 115,953 228,464 233,736 
Interest expense:
Repurchase agreements110,288 113,714 217,366 232,430 
Revolving credit facilities20,343 29,906 40,469 60,153 
Warehouse lines of credit
129 — 184 — 
Term notes payable— 6,008 — 12,426 
Senior notes1,496 — 1,496 — 
Convertible senior notes4,445 4,579 8,900 9,198 
Total interest expense136,701 154,207 268,415 314,207 
Net interest expense
$(19,619)$(38,254)$(39,951)$(80,471)