SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
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6 Months Ended |
Jun. 30, 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 | | For the six months ended | | | | June 30, | | June 30, | | Components of Provision (Benefit) for Credit Losses (in thousands) | | 2025 | | 2024 | | 2025 | | 2024 | | Provision (benefit) for loan losses | | $ | 500 | | $ | (17) | | $ | 500 | | $ | (16) | | Provision (benefit) for risk-sharing obligations | | | 1,320 | | | 353 | | | 5,032 | | | (1,124) | | Provision (benefit) for loan credit losses | | | 1,820 | | | 336 | | | 5,532 | | | (1,140) | | Provision (benefit) for other credit losses | | | — | | | 2,600 | | | — | | | 4,600 | | Provision (benefit) for credit losses | | $ | 1,820 | | $ | 2,936 | | $ | 5,532 | | $ | 3,460 | |
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| Schedule of Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents |
| | | | | | | | | | | | | | June 30, | | December 31, | | (in thousands) | 2025 | | 2024 | | 2024 | | 2023 | | Cash and cash equivalents | $ | 233,712 | | $ | 208,095 | | $ | 279,270 | | $ | 328,698 | | Restricted cash | | 41,090 | | | 35,460 | | | 25,156 | | | 21,422 | | Pledged cash and cash equivalents (NOTE 9) | | 17,966 | | | 37,935 | | | 23,472 | | | 41,283 | | Total cash, cash equivalents, restricted cash, and restricted cash equivalents | $ | 292,768 | | $ | 281,490 | | $ | 327,898 | | $ | 391,403 | |
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| Schedule of Net Warehouse Interest Income (Expense) |
| | | | | | | | | | | | | | | For the three months ended | | For the six months ended | (in thousands) | | June 30, | | June 30, | Components of Net Warehouse Interest Income (Expense) | | 2025 | | 2024 | | 2025 | | 2024 | Warehouse interest income | | $ | 11,491 | | $ | 6,643 | | $ | 18,065 | | $ | 14,136 | Warehouse interest expense | | | (13,251) | | | (8,227) | | | (20,611) | | | (16,836) | Net warehouse interest income (expense) | | $ | (1,760) | | $ | (1,584) | | $ | (2,546) | | $ | (2,700) |
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| Schedule of Contracts with Customers |
The following table presents information about the Company’s contracts with customers for the three and six months ended June 30, 2025 and 2024 (in thousands): | | | | | | | | | | | | | | | | | For the three months ended | | For the six months ended | | | | | June 30, | | June 30, | | | Description | | 2025 | | 2024 | | 2025 | | 2024 | | Statement of income line item | Certain loan origination fees | | $ | 31,431 | | $ | 25,621 | | $ | 48,165 | | $ | 43,408 | | Loan origination and debt brokerage fees, net | Property sales broker fees | | | 14,964 | | | 11,265 | | | 28,485 | | | 20,086 | | Property sales broker fees | Investment management fees | | | 7,577 | | | 14,822 | | | 17,259 | | | 28,342 | | Investment management fees | Investment banking revenues, appraisal revenues, subscription revenues, syndication fees, and other revenues | | | 23,775 | | | 16,719 | | | 41,802 | | | 28,994 | | Other revenues | Total revenues derived from contracts with customers | | $ | 77,747 | | $ | 68,427 | | $ | 135,711 | | $ | 120,830 | | | | | | | | | | | | | | | | | |
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