SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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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) | | 2026 | | 2025 | | 2026 | | 2025 | | Provision (benefit) for loan losses | | $ | 10,558 | | $ | 500 | | $ | 13,058 | | $ | 500 | | Provision (benefit) for risk-sharing obligations | | | 10,408 | | | 1,320 | | | 12,026 | | | 5,032 | | Provision (benefit) for credit losses | | $ | 20,966 | | $ | 1,820 | | $ | 25,084 | | $ | 5,532 | |
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| Schedule of Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents |
| | | | | | | | | | | | | | June 30, | | December 31, | | (in thousands) | 2026 | | 2025 | | 2025 | | 2024 | | Cash and cash equivalents | $ | 160,858 | | $ | 233,712 | | $ | 299,315 | | $ | 279,270 | | Restricted cash | | 25,782 | | | 41,090 | | | 22,772 | | | 25,156 | | Pledged cash and cash equivalents (NOTE 12) | | 17,272 | | | 17,966 | | | 22,288 | | | 23,472 | | Total cash, cash equivalents, restricted cash, and restricted cash equivalents | $ | 203,912 | | $ | 292,768 | | $ | 344,375 | | $ | 327,898 | |
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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) | | 2026 | | 2025 | | 2026 | | 2025 | | Warehouse interest income | | $ | 17,171 | | $ | 11,491 | | $ | 34,264 | | $ | 18,065 | | Warehouse interest expense | | | (16,802) | | | (13,251) | | | (33,870) | | | (20,611) | | Net warehouse interest income (expense) | | $ | 369 | | $ | (1,760) | | $ | 394 | | $ | (2,546) | |
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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, 2026 and 2025 (in thousands): | | | | | | | | | | | | | | | | | For the three months ended | | For the six months ended | | | | | June 30, | | June 30, | | | Description | | 2026 | | 2025 | | 2026 | | 2025 | | Statement of income line item | Certain loan origination fees | | $ | 37,287 | | $ | 31,431 | | $ | 69,207 | | $ | 48,165 | | Loan origination and debt brokerage fees, net | Property sales broker fees | | | 12,787 | | | 14,964 | | | 25,966 | | | 28,485 | | Property sales broker fees | Investment management fees | | | 6,907 | | | 7,577 | | | 17,133 | | | 17,259 | | Investment management fees | Investment banking revenues, appraisal revenues, subscription revenues, syndication fees, and other revenues | | | 25,386 | | | 23,775 | | | 41,593 | | | 41,802 | | Other revenues | Total revenues derived from contracts with customers | | $ | 82,367 | | $ | 77,747 | | $ | 153,899 | | $ | 135,711 | | | | | | | | | | | | | | | | | |
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