| Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis |
The following table presents the carrying value and fair value of the Company’s financial instruments disclosed, but not carried, at fair value as of December 31, 2025, and the level of each financial instrument within the fair value hierarchy (in ‘000s):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying
Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan receivables held for investment |
|
$ |
1,107,555 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,112,840 |
|
|
$ |
1,112,840 |
|
Total Assets |
|
$ |
1,107,555 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,112,840 |
|
|
$ |
1,112,840 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Line of credit |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Morgan Stanley repurchase agreement |
|
$ |
445,327 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
444,004 |
|
|
$ |
444,004 |
|
Citibank repurchase agreement |
|
|
102,960 |
|
|
|
— |
|
|
|
— |
|
|
|
102,960 |
|
|
|
102,960 |
|
Note payable |
|
|
79,995 |
|
|
|
— |
|
|
|
— |
|
|
|
79,790 |
|
|
|
79,790 |
|
HSBC Loan |
|
|
143,768 |
|
|
|
— |
|
|
|
— |
|
|
|
143,768 |
|
|
|
143,768 |
|
Total Liabilities |
|
$ |
772,050 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
770,522 |
|
|
$ |
770,522 |
|
The following table presents the carrying value and fair value of the Company’s commercial debt securities as of December 31, 2025, and the level within the fair value hierarchy (in ‘000s):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying
Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Commercial debt securities |
|
$ |
7,716 |
|
|
$ |
— |
|
|
$ |
7,716 |
|
|
$ |
— |
|
|
$ |
7,716 |
|
Total |
|
$ |
7,716 |
|
|
$ |
— |
|
|
$ |
7,716 |
|
|
$ |
— |
|
|
$ |
7,716 |
|
The following table presents the carrying value and fair value of the Company’s financial instruments as of December 31, 2024, and the level of each financial instrument within the fair value hierarchy (in ‘000s):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying
Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan receivables held for investment |
|
$ |
867,687 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
865,572 |
|
|
$ |
865,572 |
|
Total Assets |
|
$ |
867,687 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
865,572 |
|
|
$ |
865,572 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Line of credit payable |
|
$ |
38,000 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
38,000 |
|
|
$ |
38,000 |
|
Repurchase agreement |
|
|
246,491 |
|
|
|
— |
|
|
|
— |
|
|
|
245,547 |
|
|
|
245,547 |
|
Note Payable |
|
|
119,707 |
|
|
|
— |
|
|
|
— |
|
|
|
119,462 |
|
|
|
119,462 |
|
HSBC Loan |
|
|
141,330 |
|
|
|
— |
|
|
|
— |
|
|
|
141,220 |
|
|
|
141,220 |
|
Total Liabilities |
|
$ |
545,528 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
544,229 |
|
|
$ |
544,229 |
|
|