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Subsequent Events
6 Months Ended
Jun. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events
Note 23 – Subsequent Events
On July 10, 2025, we purchased a portfolio of government-insured reverse mortgage loan buyouts for $100.4 million. The purchased assets included reverse loans held for sale, claim receivables from HUD and real estate properties. The purchased assets were financed along with other owned buyouts through a private placement securitization referred to as OLIT 2025-HB1 with total proceeds of $309.5 million. The senior and mezzanine class Notes were issued to third parties with an initial principal balance of $322.5 million at a discount of $13.1 million, with a stated interest rate of 3% and a mandatory three-year call date. Refer to Note 2 – Securitizations and Variable Interest Entities and Note 12 – Borrowings for further details on our OLIT securitization program.