v3.26.1
Fair Value of Financial Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy of Financial Assets and Liabilities under U.S. GAAP Guidance The following table sets forth by level within the fair value hierarchy financial assets and liabilities accounted for at fair value under U.S. GAAP guidance (in thousands):
As of June 30, 2026
Level 1Level 2Level 3Total
Assets:
Loans held for sale, at fair value$— $930,484 $— $930,484 
Rate lock commitments— — 4,078 4,078 
Forward Sales Contracts
— — 5,339 5,339 
Total $— $930,484 $9,417 $939,901 
Liabilities:
Contingent consideration$— $— $22,959 $22,959 
Rate lock commitments— — 1,940 1,940 
Forward Sales Contracts
— — 3,149 3,149 
Total $— $— $28,048 $28,048 
As of December 31, 2025
Level 1Level 2Level 3Total
Assets:
Loans held for sale, at fair value$— $913,302 $— $913,302 
Rate lock commitments— — 3,241 3,241 
Forward Sales Contracts
— — 2,799 2,799 
Total $— $913,302 $6,040 $919,342 
Liabilities:
Contingent consideration$— $— $22,652 $22,652 
Rate lock commitments— — 607 607 
Forward Sales Contracts
— — 1,809 1,809 
Total $— $— $25,068 $25,068 
Schedule of Changes in Level 3 RBC Forwards, Rate Lock Commitments, Forwards and Contingent Consideration Measured at Fair Value on Recurring Basis Changes in Level 3 rate lock commitments, Forward Sales Contracts and contingent consideration measured at fair value on recurring basis were as follows (in thousands):
As of June 30, 2026
Opening
Balance		Total realized
and unrealized
gains (losses)
included in
Net income		AdditionsSettlementsClosing
Balance		Unrealized
gains (losses)
outstanding
Assets:
Rate lock commitments$3,241 $4,078 $— $(3,241)$4,078 $4,078 
Forward Sales Contracts
2,799 5,339 — (2,799)5,339 5,339 
Total $6,040 $9,417 $— $(6,040)$9,417 $9,417 
Opening
Balance		Total realized
and unrealized
gains (losses)
included in
Net income		AdditionsSettlementsClosing
Balance		Unrealized
gains (losses)
outstanding
Liabilities:
Contingent consideration$22,652 $307 $— $— $22,959 $307 
Rate lock commitments607 1,940 — (607)1,940 1,940 
Forward Sales Contracts
1,809 3,149 — (1,809)3,149 3,149 
Total $25,068 $5,396 $— $(2,416)$28,048 $5,396 
 
As of December 31, 2025
Opening
Balance		Total realized
and unrealized
gains (losses)
included in
Net income		AdditionsSettlementsClosing
Balance		Unrealized
gains (losses)
outstanding
Assets:
Rate lock commitments$1,010 $3,241 $— $(1,010)$3,241 $3,241 
Forward Sales Contracts
7,491 2,799 — (7,491)2,799 2,799 
Total $8,501 $6,040 $— $(8,501)$6,040 $6,040 
Opening
Balance		Total realized
and unrealized
gains (losses)
included in
Net income		AdditionsSettlementsClosing
Balance		Unrealized
gains (losses)
outstanding
Liabilities:
Contingent consideration$21,935 $1,360 $— $(643)$22,652 $1,360 
Rate lock commitments1,350 607 — (1,350)607 607 
Forward Sales Contracts
3,253 1,809 — (3,253)1,809 1,809 
Total $26,538 $3,776 $— $(5,246)$25,068 $3,776 
Schedule of Quantitative Information about Level 3 Fair Value Measurements
The following tables present quantitative information about the significant unobservable inputs utilized by Newmark in the fair value measurement of Level 3 assets and liabilities measured at fair value on a recurring basis:
As of June 30, 2026
Level 3 assets and liabilitiesAssetsLiabilitiesSignificant Unobservable
Inputs		RangeWeighted
Average
Accounts payable, accrued expenses and other liabilities:
Contingent consideration$— $22,959 Discount rate
0.0% - 8.0%
(1)
3.8%
Probability of meeting earnout and contingencies
99.0% - 100.0%
(1)
99.5%
Derivative assets and liabilities:
Forward Sales Contracts
$5,339 $3,149 Counterparty credit riskN/AN/A
Rate lock commitments$4,078 $1,940 Counterparty credit riskN/AN/A

As of December 31, 2025
Level 3 assets and liabilitiesAssetsLiabilitiesSignificant Unobservable
Inputs		RangeWeighted
Average
Accounts payable, accrued expenses and other liabilities:
Contingent consideration$— $22,652 Discount rate
0.0% - 8.0%
(1)
3.7%
Probability of meeting earnout and contingencies
99.0% - 100.0%
(1)
99.5%
Derivative assets and liabilities:
Forward Sales Contracts
$2,799 $1,809 Counterparty credit riskN/AN/A
Rate lock commitments$3,241 $607 Counterparty credit riskN/AN/A
(1)Newmark’s estimate of contingent consideration as of June 30, 2026 and December 31, 2025 was based on the acquired business’ projected future financial performance, including revenues.