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Secured Borrowings (Details) $ in Thousands, € in Millions | 6 Months Ended | 12 Months Ended |
--- | --- | --- | ---
Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | Jun. 30, 2022 EUR (€)
Secured borrowings |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 5,884,191 |  |
Pledged Assets Carrying Value | 4,590,451 | $ 3,282,170 |
Carrying Value, Secured borrowings | 3,212,383 | 2,517,600 |
Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 1,514,680 |  |
Pledged Assets Carrying Value | 921,004 | 576,777 |
Carrying Value, Secured borrowings | $ 511,203 | $ 471,883 |
Weighted average interest rate of borrowings (as a percent) | 3.70% | 2.80% | 3.70%
Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 4,369,511 |  |
Pledged Assets Carrying Value | 3,669,447 | $ 2,705,393 |
Carrying Value, Secured borrowings | $ 2,701,180 | $ 2,045,717 |
Weighted average interest rate of borrowings (as a percent) | 2.70% | 2.10% | 2.70%
Purchased future receivables | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Pledged Assets Carrying Value | $ 8,704 | $ 7,872 |
Mortgage backed securities | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Pledged Assets Carrying Value | 34,992 | 53,194 |
JPMorgan | Acquired SBA Loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 250,000 |  |
Pledged Assets Carrying Value | 101,855 |  |
Carrying Value, Secured borrowings | $ 71,414 | 54,164 |
JPMorgan | Acquired SBA Loans | Borrowings under credit facilities | One Month LIBOR |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.50% |  |
JPMorgan | Acquired SBA Loans | Borrowings under credit facilities | Secured Overnight Financing Rate |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.875% |  |
JPMorgan | Transitional loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 1,250,000 |  |
Pledged Assets Carrying Value | 1,061,198 |  |
Carrying Value, Secured borrowings | $ 849,492 | 825,265 |
JPMorgan | Transitional loans | Borrowings under repurchase agreements | One Month LIBOR | Minimum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.10% |  |
JPMorgan | Transitional loans | Borrowings under repurchase agreements | One Month LIBOR | Maximum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.85% |  |
Performance Trust | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 263,000 |  |
Pledged Assets Carrying Value | 235,502 |  |
Carrying Value, Secured borrowings | $ 206,245 | 124,057 |
Performance Trust | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements | One Month Treasury Rate |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.00% |  |
KeyBank | Freddie Mac Loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 100,000 |  |
Pledged Assets Carrying Value | 17,859 |  |
Carrying Value, Secured borrowings | $ 17,648 | 41,864 |
KeyBank | Freddie Mac Loans | Borrowings under credit facilities | Secured Overnight Financing Rate |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 1.35% |  |
East West Bank | SBA loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 75,000 |  |
Pledged Assets Carrying Value | 93,908 |  |
Carrying Value, Secured borrowings | $ 68,502 | 58,622 |
East West Bank | SBA loans | Borrowings under credit facilities | Administrative agent's prime rate | Minimum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | (0.821%) |  |
East West Bank | SBA loans | Borrowings under credit facilities | Administrative agent's prime rate | Maximum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 0.00% |  |
East West Bank | Residential MSRs | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 50,000 |  |
Pledged Assets Carrying Value | 120,448 |  |
Carrying Value, Secured borrowings | $ 49,900 | 49,400 |
East West Bank | Residential MSRs | Borrowings under credit facilities | One Month LIBOR |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.50% |  |
Credit Suisse | Acquired loans (non USD) | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 209,680 |  | € 200.0
Pledged Assets Carrying Value | 41,208 |  |
Carrying Value, Secured borrowings | $ 35,670 | 40,373 |
Credit Suisse | Acquired loans (non USD) | Borrowings under credit facilities | Euribor Rate | Minimum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.50% |  |
Credit Suisse | Acquired loans (non USD) | Borrowings under credit facilities | Euribor Rate | Maximum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 3.00% |  |
Credit Suisse | Residential loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Carrying Value, Secured borrowings |  | $ 27,058 |
Credit Suisse | Residential loans | Borrowings under repurchase agreements | LIBOR |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) |  | 3.00% |
Credit Suisse | Purchased future receivables | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 50,000 |  |
Pledged Assets Carrying Value | 8,704 |  |
Carrying Value, Secured borrowings | $ 1,000 | $ 1,000 |
Credit Suisse | Purchased future receivables | Borrowings under credit facilities | One Month LIBOR |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 4.50% |  |
Credit Suisse | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 750,000 |  |
Pledged Assets Carrying Value | 584,888 |  |
Carrying Value, Secured borrowings | $ 430,509 | 403,644 |
Credit Suisse | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements | Secured Overnight Financing Rate | Minimum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.00% |  |
Credit Suisse | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements | Secured Overnight Financing Rate | Maximum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.35% |  |
Goldman Sachs | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 350,000 |  |
Pledged Assets Carrying Value | 227,806 |  |
Carrying Value, Secured borrowings | $ 181,713 |  |
Goldman Sachs | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements | Secured Overnight Financing Rate | Minimum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 1.50% |  |
Goldman Sachs | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements | Secured Overnight Financing Rate | Maximum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.25% |  |
Churchill | Transitional, Acquired loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 500,000 |  |
Pledged Assets Carrying Value | 326,385 |  |
Carrying Value, Secured borrowings | $ 258,551 |  |
Churchill | Transitional, Acquired loans | Borrowings under repurchase agreements | Secured Overnight Financing Rate |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.50% |  |
Comerica Bank | Residential loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 100,000 |  |
Pledged Assets Carrying Value | 61,096 |  |
Carrying Value, Secured borrowings | $ 58,703 | 63,991 |
Comerica Bank | Residential loans | Borrowings under credit facilities | One Month LIBOR |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 1.75% |  |
TBK Bank | Residential loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 150,000 |  |
Pledged Assets Carrying Value | 72,435 |  |
Carrying Value, Secured borrowings | 71,931 | 125,145 |
Origin Bank | Residential loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 60,000 |  |
Pledged Assets Carrying Value | 22,919 |  |
Carrying Value, Secured borrowings | 22,211 | 16,052 |
Associated Bank | Residential loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 60,000 |  |
Pledged Assets Carrying Value | 27,044 |  |
Carrying Value, Secured borrowings | $ 26,048 | 14,449 |
Associated Bank | Residential loans | Borrowings under credit facilities | One Month LIBOR |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 1.50% |  |
Western Alliance | Residential loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 50,000 |  |
Pledged Assets Carrying Value | 14,204 |  |
Carrying Value, Secured borrowings | 12,080 | 6,823 |
Madison | Construction loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 360,000 |  |
Pledged Assets Carrying Value | 339,324 |  |
Carrying Value, Secured borrowings | $ 76,096 |  |
Madison | Construction loans | Borrowings under credit facilities | One Month LIBOR |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 7.00% |  |
Citibank | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 500,000 |  |
Pledged Assets Carrying Value | 169,967 |  |
Carrying Value, Secured borrowings | $ 136,881 | 128,851 |
Citibank | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements | Secured Overnight Financing Rate | Minimum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.10% |  |
Citibank | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements | Secured Overnight Financing Rate | Maximum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 3.10% |  |
Deutsche Bank | Fixed rate, Transitional loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 350,000 |  |
Pledged Assets Carrying Value | 318,800 |  |
Carrying Value, Secured borrowings | $ 231,278 | 236,073 |
Deutsche Bank | Fixed rate, Transitional loans | Borrowings under repurchase agreements | Secured Overnight Financing Rate | Minimum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 1.90% |  |
Deutsche Bank | Fixed rate, Transitional loans | Borrowings under repurchase agreements | Secured Overnight Financing Rate | Maximum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.75% |  |
Various | Mortgage backed securities | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 406,511 |  |
Pledged Assets Carrying Value | 744,901 |  |
Carrying Value, Secured borrowings | $ 406,511 | $ 300,769 |
Various | Mortgage backed securities | Borrowings under repurchase agreements | Minimum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, stated rate (as a percent) | 1.36% |  | 1.36%
Various | Mortgage backed securities | Borrowings under repurchase agreements | Maximum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, stated rate (as a percent) | 4.28% |  | 4.28%

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