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Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises (Tables)

6 Months Ended

Jun. 30, 2021

Brokers and Dealers [Abstract]

Schedule of company lines available and borrowings outstanding

Newmark had the following lines available and borrowings outstanding (in thousands):

			Committed Lines						Uncommitted Lines						Balance at June 30, 2021						Balance at December 31, 2020						Stated Spread to One-Month LIBOR(3)						Rate Type
Warehouse facility due October 8, 2021(1)			$	600,000					$	—					$	233,349					$	358,247					130 bps - 140 bps						Variable
Warehouse facility due June 15, 2022(2)			450,000						—						64,041						292,040						130 bps - 140 bps						Variable
Warehouse facility due June 15, 2022			—						300,000						—						—						130 bps						Variable
Warehouse facility due September 25, 2021			400,000						—						112,780						146,380						130 bps - 140 bps						Variable
Fannie Mae repurchase agreement, open maturity			—						400,000						—						264,535						115 bps						Variable
Total			$	1,450,000					$	700,000					$	410,170					$	1,061,202

(1)The warehouse line was temporarily increased by $300 million to $900 million for the period December 1, 2020 to February 1, 2021.

(2)The warehouse line established a $125 million sublimit line of credit to find potential principal and interest servicing advances on the Company's Fannie Mae portfolio during the forbearance period related to the CARES Act. Advances will have an interest rate of 1-month LIBOR plus 180 bps and 200 bps. There were no outstanding draws outstanding under this sublimit at June 30, 2021.

(3)The spread for the Fannie Mae repurchase line is to SOFR. The warehouse lines are to LIBOR.

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- References

No definition available.

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- Definition

Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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