| Schedule of Real Estate Owned |
The following tables detail activity in the Company's carrying value of REO for the three- and six-month periods ended June 30, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | Three-Month Periods Ended | | June 30, 2026 | | June 30, 2025 | | Number of Properties | | Carrying Value | | Number of Properties | | Carrying Value | | | | (In thousands) | | | | (In thousands) | | Beginning Balance (March 31, 2026 and 2025, respectively) | 199 | | | $ | 101,167 | | | 135 | | | $ | 65,447 | | | Transfers from mortgage loans | 53 | | | 20,722 | | | 47 | | | 15,836 | | | Capital expenditures and other adjustments to cost | | | 339 | | | | | 114 | | | Adjustments to record at the lower of cost or fair value | | | (1,721) | | | | | 5 | | | Dispositions | (62) | | | (39,465) | | | (53) | | | (32,581) | | | Ending Balance (June 30, 2026 and 2025, respectively) | 190 | | | $ | 81,042 | | | 129 | | | $ | 48,821 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Six-Month Periods Ended | | June 30, 2026 | | June 30, 2025 | | Number of Properties | | Carrying Value | | Number of Properties | | Carrying Value | | | | (In thousands) | | | | (In thousands) | | Beginning Balance (December 31, 2025 and 2024, respectively) | 177 | | | $ | 75,548 | | | 117 | | | $ | 46,661 | | | Transfers from mortgage loans | 122 | | | 63,959 | | | 95 | | | 47,091 | | | Capital expenditures and other adjustments to cost | | | 730 | | | | | 72 | | | Adjustments to record at the lower of cost or fair value | | | (2,132) | | | | | (4,475) | | | Dispositions | (109) | | | (57,063) | | | (83) | | | (40,528) | | | Ending Balance (June 30, 2026 and 2025, respectively) | 190 | | | $ | 81,042 | | | 129 | | | $ | 48,821 | |
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