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Subsequent Events
9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events

Note 14. Subsequent Events

RMIT 2021-1 Securitization: In February 2021, the Company, its SPE, RMR III, and the Company’s indirect SPE, RMIT 2021-1, completed a private offering and sale of $249 million of asset-backed notes. In October 2025, the Company and RMR III exercised the right to make an optional principal repayment in full, and in connection with such prepayment, the securitization terminated.

RMIT 2025-2 Securitization: In October 2025, the Company, its SPE, RMR III, and the Company’s indirect SPE, RMIT 2025-2, completed a private offering and sale of $253 million of asset-backed notes. The transaction consisted of the issuance of four classes of fixed-rate, asset-backed notes by RMIT 2025-2. The asset-backed notes are secured by finance receivables and other related assets that RMR III purchased from the Company, which RMR III then sold and transferred to RMIT 2025-2. Prior to maturity in November 2037, the Company may redeem the notes in full, but not in part, at its option on any note payment date on or after the payment date occurring in November 2027. No payments of principal of the notes will be made during the revolving period.

Quarterly cash dividend: In November 2025, the Company announced that the Board declared a quarterly cash dividend of $0.30 per share. The dividend will be paid on December 16, 2025 to shareholders of record at the close of business on November 25, 2025. The declaration, amount, and payment of any future cash dividends on shares of the Company’s common stock will be at the discretion of the Board.

Increase in stock repurchase program: In November 2025, the Company announced that the Board had approved a $30 million increase in the amount authorized under the stock repurchase program announced in December 2024, from $30 million to $60 million. The authorization was effective immediately and extends through June 30, 2027.