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v3.22.2.2

Secured Borrowings (Details) $ in Thousands, € in Millions | 9 Months Ended | 12 Months Ended |
--- | --- | --- | ---
Sep. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | Sep. 30, 2022 EUR (€)
Secured borrowings |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | $ 5,764,459 |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | 4,860,514 | $ 3,282,170 |
Carrying Value, Secured borrowings | 3,348,249 | 2,517,600 |
Secured borrowings | Asset pledged as collateral without right |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | 4,860,514 |  |
Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 1,409,780 |  |
Carrying Value, Secured borrowings | $ 477,442 | $ 471,883 |
Weighted average interest rate of borrowings (as a percent) | 6.70% | 2.80% | 6.70%
Borrowings under credit facilities | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 850,705 | $ 576,777 |
Borrowings under credit facilities | Asset pledged as collateral without right | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | 850,705 |  |
Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 4,354,679 |  |
Carrying Value, Secured borrowings | $ 2,870,807 | $ 2,045,717 |
Weighted average interest rate of borrowings (as a percent) | 5.30% | 2.10% | 5.30%
Borrowings under repurchase agreements | Securities sold under agreements to repurchase |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 4,009,809 | $ 2,705,393 |
Borrowings under repurchase agreements | Asset pledged as collateral without right | Securities sold under agreements to repurchase |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | 4,009,809 |  |
Purchased future receivables | Borrowings under credit facilities | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | 8,593 | 7,872 |
Mortgage backed securities | Borrowings under repurchase agreements | Securities sold under agreements to repurchase |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | 32,817 | 53,194 |
JPMorgan | Acquired SBA Loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 125,000 |  |
Carrying Value, Secured borrowings | 74,828 | 54,164 |
JPMorgan | Acquired SBA Loans | Borrowings under credit facilities | Asset pledged as collateral without right | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 108,643 |  |
JPMorgan | 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 |  |
Carrying Value, Secured borrowings | $ 979,027 | 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) | 1.75% |  |
JPMorgan | Transitional loans | Borrowings under repurchase agreements | One Month LIBOR | Maximum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 3.60% |  |
JPMorgan | Transitional loans | Borrowings under repurchase agreements | Asset pledged as collateral without right | Securities sold under agreements to repurchase |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 1,344,994 |  |
Performance Trust | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 263,000 |  |
Carrying Value, Secured borrowings | $ 189,502 | 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% |  |
Performance Trust | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements | Asset pledged as collateral without right | Securities sold under agreements to repurchase |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 218,002 |  |
KeyBank | Freddie Mac Loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 100,000 |  |
Carrying Value, Secured borrowings | $ 7,429 | 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% |  |
KeyBank | Freddie Mac Loans | Borrowings under credit facilities | Asset pledged as collateral without right | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 7,575 |  |
East West Bank | SBA loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 75,000 |  |
Carrying Value, Secured borrowings | $ 72,835 | 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 | SBA loans | Borrowings under credit facilities | Asset pledged as collateral without right | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 96,120 |  |
East West Bank | Residential MSRs | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 50,000 |  |
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% |  |
East West Bank | Residential MSRs | Borrowings under credit facilities | Asset pledged as collateral without right | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 133,320 |  |
Credit Suisse | Acquired loans (non USD) | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 198,080 |  | € 200.0
Carrying Value, Secured borrowings | $ 34,726 | 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 | Acquired loans (non USD) | Borrowings under credit facilities | Asset pledged as collateral without right | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 43,737 |  |
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 |  |
Carrying Value, Secured borrowings | $ 2,000 | $ 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 | Purchased future receivables | Borrowings under credit facilities | Asset pledged as collateral without right | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 8,593 |  |
Credit Suisse | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 750,000 |  |
Carrying Value, Secured borrowings | $ 436,001 | 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) | 3.00% |  |
Credit Suisse | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements | Asset pledged as collateral without right | Securities sold under agreements to repurchase |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 591,824 |  |
Goldman Sachs | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 350,000 |  |
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) | 3.00% |  |
Goldman Sachs | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements | Asset pledged as collateral without right | Securities sold under agreements to repurchase |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 228,580 |  |
Churchill | Transitional, Acquired loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 500,000 |  |
Carrying Value, Secured borrowings | $ 331,477 |  |
Churchill | Transitional, Acquired loans | Borrowings under repurchase agreements | Secured Overnight Financing Rate |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 2.85% |  |
Churchill | Transitional, Acquired loans | Borrowings under repurchase agreements | Asset pledged as collateral without right | Securities sold under agreements to repurchase |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 407,710 |  |
Comerica Bank | Residential loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 100,000 |  |
Carrying Value, Secured borrowings | $ 53,769 | 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% |  |
Comerica Bank | Residential loans | Borrowings under credit facilities | Asset pledged as collateral without right | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 53,197 |  |
TBK Bank | Residential loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 150,000 |  |
Carrying Value, Secured borrowings | 57,641 | 125,145 |
TBK Bank | Residential loans | Borrowings under credit facilities | Asset pledged as collateral without right | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | 56,104 |  |
Origin Bank | Residential loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 80,000 |  |
Carrying Value, Secured borrowings | 11,560 | 16,052 |
Origin Bank | Residential loans | Borrowings under credit facilities | Asset pledged as collateral without right | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | 12,148 |  |
Associated Bank | Residential loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 60,000 |  |
Carrying Value, Secured borrowings | 22,160 | 14,449 |
Associated Bank | Residential loans | Borrowings under credit facilities | Asset pledged as collateral without right | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | 22,272 |  |
Western Alliance | Residential loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 50,000 |  |
Carrying Value, Secured borrowings | 10,680 | 6,823 |
Western Alliance | Residential loans | Borrowings under credit facilities | Asset pledged as collateral without right | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | 12,396 |  |
Madison | Construction loans | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 260,000 |  |
Carrying Value, Secured borrowings | $ 65,165 |  |
Madison | Construction loans | Borrowings under credit facilities | One Month LIBOR |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 7.00% |  |
Madison | Construction loans | Borrowings under credit facilities | Asset pledged as collateral without right | Loans and finance receivables |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 272,365 |  |
HSBC | Construction Loans (Non-USD) | Borrowings under credit facilities |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 111,700 |  | € 100.0
Carrying Value, Secured borrowings | $ 14,749 |  |
HSBC | Construction Loans (Non-USD) | Borrowings under credit facilities | SONIA | Minimum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 3.25% |  |
HSBC | Construction Loans (Non-USD) | Borrowings under credit facilities | SONIA | Maximum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, spread on variable (as a percent) | 4.25% |  |
HSBC | Construction Loans (Non-USD) | Borrowings under credit facilities | Asset pledged as collateral without right |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 24,235 |  |
Citibank | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 500,000 |  |
Carrying Value, Secured borrowings | $ 124,976 | 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% |  |
Citibank | Fixed rate, Transitional, Acquired loans | Borrowings under repurchase agreements | Asset pledged as collateral without right | Securities sold under agreements to repurchase |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 161,107 |  |
Deutsche Bank | Fixed rate, Transitional loans | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 350,000 |  |
Carrying Value, Secured borrowings | $ 236,432 | 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% |  |
Deutsche Bank | Fixed rate, Transitional loans | Borrowings under repurchase agreements | Asset pledged as collateral without right | Securities sold under agreements to repurchase |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 328,373 |  |
Various | Mortgage backed securities | Borrowings under repurchase agreements |  |  |
Secured borrowings and promissory note |  |  |
Current facility size | 391,679 |  |
Carrying Value, Secured borrowings | $ 391,679 | $ 300,769 |
Various | Mortgage backed securities | Borrowings under repurchase agreements | Minimum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, stated rate (as a percent) | 3.07% |  | 3.07%
Various | Mortgage backed securities | Borrowings under repurchase agreements | Maximum |  |  |
Secured borrowings and promissory note |  |  |
Pricing, stated rate (as a percent) | 5.77% |  | 5.77%
Various | Mortgage backed securities | Borrowings under repurchase agreements | Asset pledged as collateral without right | Securities sold under agreements to repurchase |  |  |
Secured borrowings and promissory note |  |  |
Total Loans, in consolidated VIEs, before allowance for loan losses | $ 729,219 |  |

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