| Schedule of debt outstanding | |
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Amount Outstanding at | |
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September 30, | | |
December 31, | |
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2026 | | |
2025 | |
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(In thousands) | |
| Description | |
Interest Rate | |
Subordinate Lender Interest Rate | |
Maturity | |
| | |
| |
| | |
| |
| |
| |
| | |
| |
| Warehouse line of credit | |
2.85% over CP yield rate (Minimum 3.60%) 6.88% and 6.80% at September 30, 2026 and December 31 2025, respectively | |
6.40% over SOFR yield rate (Minimum 7.15%) 10.47% and 10.40% at September 30, 2026 and December 31, 2025, respectively | |
July 2028 | |
$ | 397,176 | | |
$ | 197,107 | |
| | |
| |
| |
| |
| | | |
| | |
| Warehouse line of credit | |
4.50% over a commercial paper rate (Minimum 7.50%) 8.25% at December 31 2025 | |
| |
April 2026 | |
| – | | |
| 11,778 | |
| Warehouse line of credit | |
2.60% over SOFR yield rate (Minimum 2.85%) 6.42% and 6.50% at September 30, 2026 and December 31, 2025, respectively | |
6.40% over SOFR yield rate (Minimum 6.65%) 10.08% and 10.27% at September 30, 2026 and December 31, 2025, respectively | |
October 2027 | |
| 342,515 | | |
| 118,323 | |
| | |
| |
| |
| |
| | | |
| | |
| Residual interest financing | |
7.86% | |
| |
December 2028 | |
| – | | |
| 31,163 | |
| | |
| |
| |
| |
| | | |
| | |
| Residual interest financing | |
11.50% | |
| |
March 2029 | |
| – | | |
| 49,820 | |
| | |
| |
| |
| |
| | | |
| | |
| Residual interest financing | |
11.00% | |
| |
June 2032 | |
| 62,767 | | |
| 63,524 | |
| | |
| |
| |
| |
| | | |
| | |
| Residual interest financing | |
8.75% | |
| |
May 2033 | |
| 50,000 | | |
| – | |
| | |
| |
| |
| |
| | | |
| | |
| Residual interest financing | |
10.25% | |
| |
November 2033 | |
| 80,000 | | |
| – | |
| | |
| |
| |
| |
| | | |
| | |
| Subordinated renewable notes | |
Weighted average rate of 8.75% and 8.98% at September 30, 2026 and December 31, 2025, respectively | |
| |
Weighted average maturity of June 2028 and November 2027 at September 30, 2026 and December 31, 2025,
respectively | |
| 28,850 | | |
| 28,986 | |
| | |
| |
| |
| |
| | | |
| | |
| | |
| |
| |
| |
$ | 961,308 | | |
$ | 500,701 | |