v3.26.3
Variable Interest Entities (Tables)
9 Months Ended
Sep. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Financial Assets and Liabilities from Variable Interest Entities
The following tables present a summary of financial assets and liabilities from the Company’s involvement with consolidated VIEs:

December 31, 2025
AssetsLiabilitiesNet Assets
Consolidated securitization$58,275 $46,542 $11,733 
Consolidated warehouse entities167,158 101,791 65,367 
Other consolidated VIEs690,522 19,111 671,411 
Total consolidated VIEs$915,955 $167,444 $748,511 

September 30, 2026
AssetsLiabilitiesNet Assets
Consolidated securitization$32,298 $25,505 $6,793 
Consolidated warehouse entities519,210 332,523 186,687 
Other consolidated VIEs294,152 3,690 290,462 
Total consolidated VIEs$845,660 $361,718 $483,942 
The following tables summarize the aggregate value of assets and liabilities of unconsolidated VIEs associated with securitizations in which the Company holds a variable interest but is not the primary beneficiary:

December 31, 2025
Assets(1)
LiabilitiesNet AssetsMaximum Exposure to Losses
Securitizations$2,016,813 $1,426,987 $589,826 $101,670 
_________
(1)Represents cash and the unpaid principal balance of loans held by the unconsolidated VIEs.

September 30, 2026
Assets(1)
LiabilitiesNet AssetsMaximum Exposure to Losses
Securitizations$2,989,933 $2,059,774 $930,159 $145,796 
_________
(1) Represents cash and the unpaid principal balance of loans held by the unconsolidated VIEs.