| Schedule of Debt |
The following table presents information on warehouse and securitization facilities and the outstanding balance as of June 30, 2026 and December 31, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Outstanding Balance | | | Committed
Amount | | Uncommitted
Amount | | Total
Facility
Amount | Expiration
Date | June 30,
2026 | | December 31,
2025 | | | Facility 1(1) | | $ | 400,000 | | | $ | 600,000 | | | $ | 1,000,000 | | 9/22/2026 | $ | 435,936 | | | $ | 536,653 | | | | Facility 2(1) | | 1,000 | | | 299,000 | | | 300,000 | | 10/21/2026 | 168,709 | | | 251,540 | | | | | Facility 3 | | — | | | 225,000 | | | 225,000 | | 2/25/2027 | 135,235 | | | 73,419 | | | | | Facility 4 | | — | | | 175,000 | | | 175,000 | | 10/27/2026 | 74,724 | | | 162,446 | | | | Facility 5(1)(3) | | — | | | 200,000 | | | 200,000 | | N/A | — | | | — | | | | | Facility 6 | | — | | | 300,000 | | | 300,000 | | 9/18/2026 | 220,181 | | | 285,854 | | | | Facility 7(2)(4) | | — | | | — | | | — | | 9/25/2026 | — | | | 300,000 | | | | Facility 8 | | 250,000 | | | 350,000 | | | 600,000 | | 11/13/2026 | 264,413 | | | 445,828 | | | | Facility 9(1) | | — | | | 600,000 | | | 600,000 | | 10/29/2026 | 344,604 | | | 546,799 | | | | Facility 10(2) | | 300,000 | | | — | | | 300,000 | | 4/10/2028 | 300,000 | | | 300,000 | | | | Facility 11(1)(3) | | — | | | 150,000 | | | 150,000 | | N/A | — | | | — | | | | | Facility 12 | | 500,000 | | | — | | | 500,000 | | 4/24/2029 | 500,000 | | | — | | | | | Total | | $ | 1,451,000 | | | $ | 2,899,000 | | | $ | 4,350,000 | | | $ | 2,443,802 | | | $ | 2,902,539 | | | |
(1)In addition to the warehouse line, the lender provides a separate gestation facility to finance recently sold MBS up to the MBS settlement date. (2)Securitization backed by a revolving warehouse facility to finance newly originated first-lien fixed and adjustable rate mortgage loans. (3)This is an early funding facility with an Agency. This facility is an evergreen agreement with no stated termination or expiration date. This agreement can be terminated by either party by written notice. (4)In April 2026, facility was terminated prior to the expiration date and replaced by Facility 12.
The following table presents information on borrowings under warehouse and securitization facilities: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Maximum outstanding balance during the period | | $ | 2,987,259 | | | $ | 2,528,173 | | | $ | 3,024,131 | | | $ | 2,528,173 | | | Average balance outstanding during the period | | 2,395,256 | | | 2,270,238 | | | 2,378,177 | | | 2,056,011 | | | Collateral pledged (loans held for sale) | | 2,576,607 | | | 2,575,382 | | | 2,576,607 | | | 2,575,382 | | | Weighted average interest rate during the period | | 5.60 | % | | 6.39 | % | | 5.62 | % | | 6.40 | % |
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