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Commitments and Contingencies
 6 Months Ended
Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
 
(a) Lease Commitments
 
The Company’s primary lease commitment relates to its corporate headquarters. For the three and six months ended June 30, 2022, the Company recorded aggregate lease expense of approximately $1.2 million and $2.3 million, respectively, in connection with its current lease. The term specified in the current lease is approximately fifteen years with an option to renew for an additional five years.

At June 30, 2022, the contractual minimum rental payments (exclusive of possible rent escalation charges and normal recurring charges for maintenance, insurance and taxes) were as follows:

Year Ending December 31, Minimum Rental Payments
(In Thousands) 
2022 (1)
$2,739 
20235,498 
20245,500 
20254,659 
20264,552 
Thereafter49,604 
Total$72,552 

(1) Reflects contractual minimum rental payments due for the period from July 1, 2022 through December 31, 2022.

(b) Representations and Warranties in Connection with Loan Securitization and Other Loan Sale Transactions

In connection with the loan securitization and sale transactions entered into by the Company, the Company has the obligation under certain circumstances to repurchase assets previously transferred to securitization vehicles, or otherwise sold, upon breach of certain representations and warranties. As of June 30, 2022, the Company was not aware of any material unsettled repurchase claims that would require a reserve (see Note 14).

(c) Rehabilitation Loan Commitments

At June 30, 2022, the Company had unfunded commitments of $432.9 million in connection with its purchased Rehabilitation loans.