XML 49 R40.htm IDEA: XBRL DOCUMENT
v3.23.3

Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Segment Reporting [Abstract] |
Schedule of Statement of Income and Balance Sheet by Segment |
| Three Months Ended September 30, 2023
| Structured Business |  | Agency Business |  | Other / Eliminations (1) |  | Consolidated
Interest income | $ | 322,819 |  |  | $ | 13,655 |  |  | $ | — |  |  | $ | 336,474 |
Interest expense | 222,996 |  |  | 6,184 |  |  | — |  |  | 229,180 |
Net interest income | 99,823 |  |  | 7,471 |  |  | — |  |  | 107,294 |
Other revenue: |  |  |  |  |  |  |
Gain on sales, including fee-based services, net | — |  |  | 18,619 |  |  | — |  |  | 18,619 |
Mortgage servicing rights | — |  |  | 14,109 |  |  | — |  |  | 14,109 |
Servicing revenue | — |  |  | 51,363 |  |  | — |  |  | 51,363 |
Amortization of MSRs | — |  |  | (15,900) |  |  | — |  |  | (15,900) |
Property operating income | 1,450 |  |  | — |  |  | — |  |  | 1,450 |
Loss on derivative instruments, net | — |  |  | (421) |  |  | — |  |  | (421) |
Other income (loss), net | 751 |  |  | (578) |  |  | — |  |  | 173 |
Total other revenue | 2,201 |  |  | 67,192 |  |  | — |  |  | 69,393 |
Other expenses: |  |  |  |  |  |  |
Employee compensation and benefits | 12,912 |  |  | 26,898 |  |  | — |  |  | 39,810 |
Selling and administrative | 5,291 |  |  | 7,076 |  |  | — |  |  | 12,367 |
Property operating expenses | 1,479 |  |  | — |  |  | — |  |  | 1,479 |
Depreciation and amortization | 1,114 |  |  | 1,172 |  |  | — |  |  | 2,286 |
Provision for loss sharing (net of recoveries) | — |  |  | 1,679 |  |  | — |  |  | 1,679 |
Provision for credit losses (net of recoveries) | 17,243 |  |  | 1,409 |  |  | — |  |  | 18,652 |
Total other expenses | 38,039 |  |  | 38,234 |  |  | — |  |  | 76,273 |
Income before extinguishment of debt, income from equity affiliates and income taxes | 63,985 |  |  | 36,429 |  |  | — |  |  | 100,414 |
Loss on extinguishment of debt | (314) |  |  | — |  |  | — |  |  | (314) |
Income from equity affiliates | 809 |  |  | — |  |  | — |  |  | 809 |
Provision for income taxes | 1,078 |  |  | (6,932) |  |  | — |  |  | (5,854) |
Net income | 65,558 |  |  | 29,497 |  |  | — |  |  | 95,055 |
Preferred stock dividends | 10,342 |  |  | — |  |  | — |  |  | 10,342 |
Net income attributable to noncontrolling interest | — |  |  | — |  |  | 6,789 |  |  | 6,789 |
Net income attributable to common stockholders | $ | 55,216 |  |  | $ | 29,497 |  |  | $ | (6,789) |  |  | $ | 77,924 |
| Three Months Ended September 30, 2022
| Structured Business |  | Agency Business |  | Other / Eliminations (1) |  | Consolidated
Interest income | $ | 249,539 |  |  | $ | 10,239 |  |  | $ | — |  |  | $ | 259,778 |
Interest expense | 157,325 |  |  | 3,127 |  |  | — |  |  | 160,452 |
Net interest income | 92,214 |  |  | 7,112 |  |  | — |  |  | 99,326 |
Other revenue: |  |  |  |  |  |  |
Gain on sales, including fee-based services, net | — |  |  | 14,360 |  |  | — |  |  | 14,360 |
Mortgage servicing rights | — |  |  | 19,408 |  |  | — |  |  | 19,408 |
Servicing revenue | — |  |  | 37,526 |  |  | — |  |  | 37,526 |
Amortization of MSRs | — |  |  | (14,782) |  |  | — |  |  | (14,782) |
Property operating income | 445 |  |  | — |  |  | — |  |  | 445 |
Loss on derivative instruments, net | — |  |  | (15,909) |  |  | — |  |  | (15,909) |
Other income (loss), net | 1,763 |  |  | (7,777) |  |  | — |  |  | (6,014) |
Total other revenue | 2,208 |  |  | 32,826 |  |  | — |  |  | 35,034 |
Other expenses: |  |  |  |  |  |  |
Employee compensation and benefits | 13,342 |  |  | 25,469 |  |  | — |  |  | 38,811 |
Selling and administrative | 5,961 |  |  | 7,264 |  |  | — |  |  | 13,225 |
Property operating expenses | 366 |  |  | — |  |  | — |  |  | 366 |
Depreciation and amortization | 906 |  |  | 1,172 |  |  | — |  |  | 2,078 |
Provision for loss sharing (net of recoveries) | — |  |  | 412 |  |  | — |  |  | 412 |
Provision for credit losses (net of recoveries) | 2,206 |  |  | 68 |  |  | — |  |  | 2,274 |
Total other expenses | 22,781 |  |  | 34,385 |  |  | — |  |  | 57,166 |
Income before extinguishment of debt, income from equity affiliates and income taxes | 71,641 |  |  | 5,553 |  |  | — |  |  | 77,194 |
Loss on extinguishment of debt | (3,262) |  |  | — |  |  | — |  |  | (3,262) |
Income from equity affiliates | 4,748 |  |  | — |  |  | — |  |  | 4,748 |
Benefit for income taxes | 319 |  |  | 55 |  |  | — |  |  | 374 |
Net income | 73,446 |  |  | 5,608 |  |  | — |  |  | 79,054 |
Preferred stock dividends | 10,342 |  |  | — |  |  | — |  |  | 10,342 |
Net income attributable to noncontrolling interest | — |  |  | — |  |  | 6,002 |  |  | 6,002 |
Net income attributable to common stockholders | $ | 63,104 |  |  | $ | 5,608 |  |  | $ | (6,002) |  |  | $ | 62,710 |
| Nine Months Ended September 30, 2023
| Structured Business |  | Agency Business |  | Other / Eliminations (1) |  | Consolidated
Interest income | $ | 962,301 |  |  | $ | 37,858 |  |  | $ | — |  |  | $ | 1,000,159 |
Interest expense | 658,856 |  |  | 16,893 |  |  | — |  |  | 675,749 |
Net interest income | 303,445 |  |  | 20,965 |  |  | — |  |  | 324,410 |
Other revenue: |  |  |  |  |  |  |
Gain on sales, including fee-based services, net | — |  |  | 55,795 |  |  | — |  |  | 55,795 |
Mortgage servicing rights | — |  |  | 48,769 |  |  | — |  |  | 48,769 |
Servicing revenue | — |  |  | 144,296 |  |  | — |  |  | 144,296 |
Amortization of MSRs | — |  |  | (46,920) |  |  | — |  |  | (46,920) |
Property operating income | 4,261 |  |  | — |  |  | — |  |  | 4,261 |
Loss on derivative instruments, net | — |  |  | (3,582) |  |  | — |  |  | (3,582) |
Other income, net | 3,420 |  |  | 1,679 |  |  | — |  |  | 5,099 |
Total other revenue | 7,681 |  |  | 200,037 |  |  | — |  |  | 207,718 |
Other expenses: |  |  |  |  |  |  |
Employee compensation and benefits | 41,991 |  |  | 81,527 |  |  | — |  |  | 123,518 |
Selling and administrative | 17,835 |  |  | 20,739 |  |  | — |  |  | 38,574 |
Property operating expenses | 4,227 |  |  | — |  |  | — |  |  | 4,227 |
Depreciation and amortization | 3,779 |  |  | 3,518 |  |  | — |  |  | 7,297 |
Provision for loss sharing (net of recoveries) | — |  |  | 12,528 |  |  | — |  |  | 12,528 |
Provision for credit losses (net of recoveries) | 52,257 |  |  | 2,790 |  |  | — |  |  | 55,047 |
Total other expenses | 120,089 |  |  | 121,102 |  |  | — |  |  | 241,191 |
Income before extinguishment of debt, income from equity affiliates and income taxes | 191,037 |  |  | 99,900 |  |  | — |  |  | 290,937 |
Loss on extinguishment of debt | (1,561) |  |  | — |  |  | — |  |  | (1,561) |
Income from equity affiliates | 20,694 |  |  | — |  |  | — |  |  | 20,694 |
Provision for income taxes | 307 |  |  | (19,743) |  |  | — |  |  | (19,436) |
Net income | 210,477 |  |  | 80,157 |  |  | — |  |  | 290,634 |
Preferred stock dividends | 31,027 |  |  | — |  |  | — |  |  | 31,027 |
Net income attributable to noncontrolling interest | — |  |  | — |  |  | 21,200 |  |  | 21,200 |
Net income attributable to common stockholders | $ | 179,450 |  |  | $ | 80,157 |  |  | $ | (21,200) |  |  | $ | 238,407 |
| Nine Months Ended September 30, 2022
| Structured Business |  | Agency Business |  | Other / Eliminations (1) |  | Consolidated
Interest income | $ | 597,847 |  |  | $ | 29,957 |  |  | $ | — |  |  | $ | 627,804 |
Interest expense | 338,692 |  |  | 11,387 |  |  | — |  |  | 350,079 |
Net interest income | 259,155 |  |  | 18,570 |  |  | — |  |  | 277,725 |
Other revenue: |  |  |  |  |  |  |
Gain on sales, including fee-based services, net | — |  |  | 32,526 |  |  | — |  |  | 32,526 |
Mortgage servicing rights | — |  |  | 52,287 |  |  | — |  |  | 52,287 |
Servicing revenue | — |  |  | 109,045 |  |  | — |  |  | 109,045 |
Amortization of MSRs | — |  |  | (44,532) |  |  | — |  |  | (44,532) |
Property operating income | 1,031 |  |  | — |  |  | — |  |  | 1,031 |
Gain on derivative instruments, net | — |  |  | 10,083 |  |  | — |  |  | 10,083 |
Other loss, net | (4,370) |  |  | (11,691) |  |  | — |  |  | (16,061) |
Total other revenue | (3,339) |  |  | 147,718 |  |  | — |  |  | 144,379 |
Other expenses: |  |  |  |  |  |  |
Employee compensation and benefits | 42,694 |  |  | 77,042 |  |  | — |  |  | 119,736 |
Selling and administrative | 19,799 |  |  | 21,161 |  |  | — |  |  | 40,960 |
Property operating expenses | 1,443 |  |  | — |  |  | — |  |  | 1,443 |
Depreciation and amortization | 2,574 |  |  | 3,518 |  |  | — |  |  | 6,092 |
Provision for loss sharing (net of recoveries) | — |  |  | (2,199) |  |  | — |  |  | (2,199) |
Provision for credit losses (net of recoveries) | 9,363 |  |  | 337 |  |  | — |  |  | 9,700 |
Total other expenses | 75,873 |  |  | 99,859 |  |  | — |  |  | 175,732 |
Income before extinguishment of debt, income from equity affiliates and income taxes | 179,943 |  |  | 66,429 |  |  | — |  |  | 246,372 |
Loss on extinguishment of debt | (4,612) |  |  | — |  |  | — |  |  | (4,612) |
Income from equity affiliates | 18,507 |  |  | — |  |  | — |  |  | 18,507 |
Provision for income taxes | (1,368) |  |  | (11,798) |  |  | — |  |  | (13,166) |
Net income | 192,470 |  |  | 54,631 |  |  | — |  |  | 247,101 |
Preferred stock dividends | 30,612 |  |  | — |  |  | — |  |  | 30,612 |
Net income attributable to noncontrolling interest | — |  |  | — |  |  | 19,811 |  |  | 19,811 |
Net income attributable to common stockholders | $ | 161,858 |  |  | $ | 54,631 |  |  | $ | (19,811) |  |  | $ | 196,678 |
________________________ (1)Includes income allocated to the noncontrolling interest holders not allocated to the two reportable segments.
| September 30, 2023
| Structured Business |  | Agency Business |  | Consolidated
Assets: |  |  |  |  |
Cash and cash equivalents | $ | 499,511 |  |  | $ | 395,787 |  |  | $ | 895,298 |
Restricted cash | 410,056 |  |  | 9,102 |  |  | 419,158 |
Loans and investments, net | 12,892,796 |  |  | — |  |  | 12,892,796 |
Loans held-for-sale, net | — |  |  | 364,320 |  |  | 364,320 |
Capitalized mortgage servicing rights, net | — |  |  | 392,203 |  |  | 392,203 |
Securities held-to-maturity, net | — |  |  | 155,172 |  |  | 155,172 |
Investments in equity affiliates | 62,795 |  |  | — |  |  | 62,795 |
Goodwill and other intangible assets | 12,500 |  |  | 80,051 |  |  | 92,551 |
Other assets and due from related party | 536,789 |  |  | 91,607 |  |  | 628,396 |
Total assets | $ | 14,414,447 |  |  | $ | 1,488,242 |  |  | $ | 15,902,689 |
Liabilities: |  |  |  |  |
Debt obligations | $ | 11,800,537 |  |  | $ | 354,587 |  |  | $ | 12,155,124 |
Allowance for loss-sharing obligations | — |  |  | 69,261 |  |  | 69,261 |
Other liabilities and due to related parties | 323,061 |  |  | 114,742 |  |  | 437,803 |
Total liabilities | $ | 12,123,598 |  |  | $ | 538,590 |  |  | $ | 12,662,188 |
| December 31, 2022
Assets: |  |  |  |  |
Cash and cash equivalents | $ | 200,514 |  |  | $ | 333,843 |  |  | $ | 534,357 |
Restricted cash | 713,615 |  |  | 193 |  |  | 713,808 |
Loans and investments, net | 14,254,674 |  |  | — |  |  | 14,254,674 |
Loans held-for-sale, net | — |  |  | 354,070 |  |  | 354,070 |
Capitalized mortgage servicing rights, net | — |  |  | 401,471 |  |  | 401,471 |
Securities held-to-maturity, net | — |  |  | 156,547 |  |  | 156,547 |
Investments in equity affiliates | 79,130 |  |  | — |  |  | 79,130 |
Goodwill and other intangible assets | 12,500 |  |  | 83,569 |  |  | 96,069 |
Other assets and due from related party | 367,837 |  |  | 81,022 |  |  | 448,859 |
Total assets | $ | 15,628,270 |  |  | $ | 1,410,715 |  |  | $ | 17,038,985 |
Liabilities: |  |  |  |  |
Debt obligations | $ | 13,195,120 |  |  | $ | 305,442 |  |  | $ | 13,500,562 |
Allowance for loss-sharing obligations | — |  |  | 57,168 |  |  | 57,168 |
Other liabilities and due to related parties | 299,559 |  |  | 109,817 |  |  | 409,376 |
Total liabilities | $ | 13,494,679 |  |  | $ | 472,427 |  |  | $ | 13,967,106 |
Schedule of Origination Data and Loans Sales Data By Segment |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2023 |  | 2022 |  | 2023 |  | 2022 |
Origination Data: |  |  |  |  |  |  |  |  |
Structured Business |  |  |  |  |  |  |  |  |
Bridge: |  |  |  |  |  |  |  |  |
Multifamily |  | $ | 92,000 |  |  | $ | 592,844 |  |  | $ | 376,630 |  |  | $ | 5,172,770 |  |
SFR |  | 140,379 |  |  | 163,851 |  |  | 325,432 |  |  | 452,240 |  |
|  | 232,379 |  |  | 756,695 |  |  | 702,062 |  |  | 5,625,010 |  |
Mezzanine / Preferred Equity |  | 7,779 |  |  | 17,970 |  |  | 15,124 |  |  | 26,109 |  |
Total new loan originations |  | $ | 240,158 |  |  | $ | 774,665 |  |  | $ | 717,186 |  |  | $ | 5,651,119 |  |
Number of Loans Originated |  | 42 |  | 52 |  | 92 |  | 268 |
SFR Commitments |  | $ | 429,452 |  |  | $ | 457,564 |  |  | $ | 683,984 |  |  | $ | 726,071 |  |
Loan runoff |  | $ | 664,792 |  |  | $ | 911,790 |  |  | $ | 2,536,661 |  |  | $ | 2,700,748 |  |
Agency Business |  |  |  |  |  |  |  |  |
Origination Volumes by Investor: |  |  |  |  |  |  |  |  |
Fannie Mae |  | $ | 721,398 |  |  | $ | 629,610 |  |  | $ | 2,596,329 |  |  | $ | 1,744,739 |  |
Freddie Mac |  | 339,241 |  |  | 350,980 |  |  | 658,457 |  |  | 1,057,743 |  |
FHA |  | 19,215 |  |  | 78,382 |  |  | 230,707 |  |  | 168,736 |  |
Private Label |  | 67,965 |  |  | 35,671 |  |  | 159,328 |  |  | 191,913 |  |
SFR - Fixed Rate |  | 2,030 |  |  | 16,678 |  |  | 19,328 |  |  | 55,883 |  |
Total |  | $ | 1,149,849 |  |  | $ | 1,111,321 |  |  | $ | 3,664,149 |  |  | $ | 3,219,014 |  |
Total loan commitment volume |  | $ | 1,211,347 |  |  | $ | 1,464,235 |  |  | $ | 3,844,769 |  |  | $ | 3,623,649 |  |
Agency Business Loan Sales Data: |  |  |  |  |  |  |  |  |
Fannie Mae |  | $ | 837,132 |  |  | $ | 700,690 |  |  | $ | 2,511,978 |  |  | $ | 1,936,282 |  |
Freddie Mac |  | 337,507 |  |  | 288,029 |  |  | 581,306 |  |  | 1,009,557 |  |
FHA |  | 24,057 |  |  | 35,838 |  |  | 201,915 |  |  | 182,755 |  |
Private Label |  | 67,965 |  |  | 14,567 |  |  | 300,713 |  |  | 515,086 |  |
SFR - Fixed Rate |  | 8,759 |  |  | 43,012 |  |  | 22,931 |  |  | 55,874 |  |
Total |  | $ | 1,275,420 |  |  | $ | 1,082,136 |  |  | $ | 3,618,843 |  |  | $ | 3,699,554 |  |
Sales margin (fee-based services as a % of loan sales) (1) |  | 1.46 |  | % | 1.33 |  | % | 1.54 |  | % | 1.34 |  | %
MSR rate (MSR income as a % of loan commitments) |  | 1.16 |  | % | 1.33 |  | % | 1.27 |  | % | 1.44 |  | %
________________________ (1)The nine months ended September 30, 2022 includes $17.1 million of gains recognized on Swaps related to the Private Label loans sold, which is included in gain (loss) on derivative instruments, net in the consolidated statements of income.
Schedule of Key Servicing Metrics for Agency Business |
|  | September 30, 2023
Key Servicing Metrics for Agency Business: |  | Servicing Portfolio UPB |  | Wtd. Avg. Servicing Fee Rate (basis points) |  | Wtd. Avg. Life of Servicing Portfolio (years)
Fannie Mae |  | $ | 20,463,620 |  |  | 48.3 |  | 7.7
Freddie Mac |  | 5,184,888 |  |  | 24.2 |  | 8.5
Private Label |  | 2,371,475 |  |  | 19.2 |  | 7.3
FHA |  | 1,322,832 |  |  | 14.5 |  | 19.9
Bridge |  | 305,950 |  |  | 11.2 |  | 3.6
SFR - Fixed Rate |  | 287,942 |  |  | 20.1 |  | 5.8
Total |  | $ | 29,936,707 |  |  | 39.7 |  | 8.3
|  | December 31, 2022
Fannie Mae |  | $ | 19,038,124 |  |  | 50.2 |  | 8.0
Freddie Mac |  | 5,153,207 |  |  | 25.0 |  | 9.0
Private Label |  | 2,074,859 |  |  | 18.5 |  | 7.6
FHA |  | 1,155,893 |  |  | 14.9 |  | 19.5
Bridge |  | 301,182 |  |  | 12.5 |  | 1.7
SFR - Fixed Rate |  | 274,764 |  |  | 19.8 |  | 6.0
Total |  | $ | 27,998,029 |  |  | 41.1 |  | 8.6

X
- Definition Tabular disclosure of key servicing metrics. + References No definition available. + Details
Name: | abr_KeyServicingMetricsTableTextBlock
Namespace Prefix: | abr_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the loan origination data and loan sales data for each reportable segment. + References No definition available. + Details
Name: | abr_ScheduleOfOriginationDataAndLoansSalesDataBySegmentTableTextBlock
Namespace Prefix: | abr_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration