v3.26.1
Revenue
 3 Months Ended
Mar. 31, 2026
Revenue [Abstract]  
Revenue
4. Revenue
Revenue— Revenue presented in this note reflects continuing operations and excludes amounts related to discontinued operations (See Note 3). Revenue includes amounts recognized outside the scope of ASC 606, primarily gain on sale of loans, net, loan repurchase reserve, and interest income associated with lending and investment activities, which are accounted for under ASC 860 and other applicable financial instrument guidance. Revenue recognized within the scope of ASC 606 primarily relates to fee-based service revenues, such as broker and real estate services revenues. The Company disaggregates revenue based on the following revenue streams.
Gain on loans, net consisted of the following:
Three Months Ended March 31,
(Amounts in thousands)20262025
Gain on sale of loans, net$44,064 $21,278 
Broker revenue1,375 1,171 
Loan repurchase reserve (provision)/recovery(638)2,127 
Total gain on loans, net$44,801 $24,576 
Other revenue consisted of the following:
Three Months Ended March 31,
(Amounts in thousands)20262025
International lending revenue$47 $1,538 
Insurance services578 673 
Real estate services170 947 
Other revenue347 492 
Total other revenue$1,142 $3,650 
Net interest income consisted of the following:
Three Months Ended March 31,
(Amounts in thousands)20262025
Interest income
Mortgage interest income$6,941 $6,437 
Interest income from investments343 1,158 
Total interest income7,284 7,595 
Interest expense
Warehouse interest expense(5,730)(2,788)
Other interest expense (1)
— (1,705)
Total interest expense(5,730)(4,493)
Total net interest income$1,554 $3,102 
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(1) Primarily consists of interest on Convertible Notes, see Note 10 for more details.