Asset-Backed Securities Issued (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Asset-Backed Securities Issued

The carrying values of ABS issued by our consolidated securitization entities at June 30, 2026 and December 31, 2025, along with other selected information, are summarized in the following table.

Table 17.1 – Asset-Backed Securities Issued


	June 30, 2026
	Unpaid Principal Balance		Carrying Value		Weighted Average Interest Rate	Stated Maturities	Number of Series
(Dollars in Thousands)
Sequoia (1)	$	20,722,806	$	19,926,622	2.50% to 6.98%	2028-2063	86
CAFL (2)	2,507,570		2,462,927		3.40% to 8.67%	2027-2040	21

HEI	126,132		126,358		6.72%	2053	1
ABS Issued at Fair Value	$	23,356,508	$	22,515,907
Total ABS Issued	$	23,356,508	$	22,515,907


	December 31, 2025
	Unpaid Principal Balance		Carrying Value		Weighted Average Interest Rate	Stated Maturities	Number of Series
(Dollars in Thousands)
Sequoia	$	14,990,305	$	14,540,397	2.50% to 8.38%	2028-2063	72
CAFL (2)	2,787,832		2,765,728		3.04% to 7.89%	2027-2040	21
HEI	127,172		127,475		6.72%	2053	1
ABS Issued at Fair Value	$	17,905,309	$	17,433,600
CAFL ABS at Amortized Cost	58,431		58,431		4.31% to 6.9%	2029	2
Total ABS Issued	$	17,963,740	$	17,492,031

(1)At June 30, 2026, includes three Sequoia re-securitization trusts for which the weighted average interest rate ranges from 6.11% to 6.42%.

(2)At June 30, 2026 and December 31, 2025, includes ABS issued from two consolidated VIE entities formed in connection with the financing of residential investor bridge loans sponsored by one of our joint ventures.