v3.25.2
Cash, Cash Equivalents and Restricted Cash (Tables)
6 Months Ended
Jun. 30, 2025
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]  
Schedule of Restricted Cash and Cash Equivalents
The following table presents the Company’s restricted cash balances as of June 30, 2025 and December 31, 2024:
(in thousands)June 30,
2025
December 31,
2024
Restricted cash balances held by trading counterparties:
For securities trading activity$600 $950 
For derivatives trading activity37,080 43,398 
For servicing activities58,165 49,900 
As restricted collateral for borrowings
44,569 218,715 
Total restricted cash balances held by trading counterparties140,414 312,963 
Restricted cash balance pursuant to letter of credit on office lease67 65 
Total$140,481 $313,028 
Schedule of Cash, Cash Equivalents and Restricted Cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the Company’s consolidated balance sheets as of June 30, 2025 and December 31, 2024 that sum to the total of the same such amounts shown in the consolidated statements of cash flows:
(in thousands)June 30,
2025
December 31,
2024
Cash and cash equivalents$657,816 $504,613 
Restricted cash140,481 313,028 
Total cash, cash equivalents and restricted cash$798,297 $817,641