|
|
|
|
|
|
|
|
|
| |
|
March 31, 2026 |
|
|
December 31, 2025 |
|
| |
|
(Unaudited) |
|
|
(Audited) |
|
| ASSETS |
|
|
|
|
|
|
|
|
| Cash, cash equivalents, and restricted cash |
|
$ |
112,050 |
|
|
$ |
249,237 |
|
| Total loans, net |
|
|
7,105,538 |
|
|
|
6,758,131 |
|
| Accrued interest and receivables |
|
|
196,303 |
|
|
|
202,477 |
|
| Real estate owned, net |
|
|
131,849 |
|
|
|
118,289 |
|
| Other assets |
|
|
45,703 |
|
|
|
53,379 |
|
|
|
|
|
|
|
|
|
|
| Total assets |
|
$ |
7,591,443 |
|
|
$ |
7,381,513 |
|
|
|
|
|
|
|
|
|
|
| LIABILITIES |
|
|
|
|
|
|
|
|
| Accounts payable and accrued expenses |
|
$ |
173,076 |
|
|
$ |
168,314 |
|
| Secured financing, net |
|
|
73,274 |
|
|
|
286,679 |
|
| Unsecured senior notes, net |
|
|
485,445 |
|
|
|
— |
|
| Securitized debt, at amortized cost |
|
|
1,638,995 |
|
|
|
1,705,589 |
|
| Securitized debt, at fair value |
|
|
4,426,240 |
|
|
|
4,236,737 |
|
| Warehouse and repurchase facilities, net |
|
|
98,009 |
|
|
|
308,506 |
|
|
|
|
|
|
|
|
|
|
| Total liabilities |
|
|
6,895,039 |
|
|
|
6,705,825 |
|
| Commitments and contingencies |
|
|
|
|
|
|
|
|
| EQUITY |
|
|
|
|
|
|
|
|
| Stockholders’ equity |
|
|
693,348 |
|
|
|
672,535 |
|
| Noncontrolling interest in subsidiary |
|
|
3,056 |
|
|
|
3,153 |
|
|
|
|
|
|
|
|
|
|
| Total equity |
|
|
696,404 |
|
|
|
675,688 |
|
|
|
|
|
|
|
|
|
|
| Total liabilities and equity |
|
$ |
7,591,443 |
|
|
$ |
7,381,513 |
|
|
|
|
|
|
|
|
|
|
| Diluted book value per share |
|
$ |
17.75 |
|
|
$ |
17.19 |
|
| Diluted shares at period end |
|
|
39,245 |
|
|
|
39,297 |
|