We maintain our Warehouse facilities with third-party lenders for the purpose of funding mortgage loans that will be resold (Warehouse receivables). The following table shows our gross cash activity related to Warehouse receivables as well as the corresponding, and largely offsetting, net change of our Warehouse facilities. This activity, in aggregate, is reflected as net cash flows from operating activities in our Consolidated Statements of Cash Flows.


	Six Months Ended June 30,
(in millions)	2025		2024
Origination of mortgage loans	$	(4,324.9)	(3,021.1)
Proceeds from the sales of mortgage loans	3,938.4		3,035.1
Net increase (decrease) in Warehouse facilities	382.5		(7.2)


	June 30, 2025			December 31, 2024
($ in millions)	Outstanding Balance		Maximum Capacity	Outstanding Balance	Maximum Capacity
Warehouse facilities:
SOFR plus 1.40%, expires September 15, 2025	$	185.5	700.0	341.3	700.0
SOFR plus 1.30%, expires September 13, 2025	583.7		1,200.0	416.5	2,100.0
SOFR plus 1.40%, expires October 23, 2025(1)	379.8		1,900.0	8.8	400.0
Fannie Mae ASAP(2) program, SOFR plus 1.25%	74.7		n/a	75.3	n/a
Gross warehouse facilities	1,223.7		3,800.0	841.9	3,200.0
Debt issuance costs	(0.2)		n/a	(0.9)	n/a
Total warehouse facilities	$	1,223.5	3,800.0	841.0	3,200.0

(1) In the second quarter of 2025, JLL temporarily increased the maximum borrowing capacity of the facility from $400.0 million to $1,900.0 million, with an expiration date of August 29, 2025. After August 29, 2025 the maximum capacity will revert to the original amount.