v3.25.4
Warehouse and Other Secured Lines of Credit (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Lines of Credit
The Company had the following warehouse lines of credit with financial institutions as of December 31, 2025 and December 31, 2024 (in thousands):
Warehouse Lines of Credit 1, 2
Date of Initial Agreement With Warehouse LenderCurrent Agreement Expiration DateTotal Advanced Against Line as of December 31,
2025		Total Advanced Against Line as of December 31,
2024
Master Repurchase Agreement ("MRA") Funding Limits as of December 31, 2025:
$500 Million
2/29/20125/15/2026$396,734 $490,509 
$500 Million
10/30/20206/26/2026123,379 150,459 
$2.0 Billion
7/24/20208/27/20261,319,244 1,113,979 
$2.0 Billion
7/10/20129/29/2026898,190 1,034,474 
$750 Million
4/23/202110/08/2026167,375 347,117 
$325 Million
2/26/201612/17/2026288,777 283,583 
$4.5 Billion
5/9/201911/26/20272,807,107 2,146,009 
$1.5 Billion
2/7/20252/5/2027827,941 — 
$3.0 Billion
12/31/20142/17/20271,353,618 2,123,381 
$1.0 Billion
3/7/20192/19/2027709,683 705,330 
Early Funding:
$600 Million (ASAP + - see below)No expiration— 23,388 
$750 Million (EF - see below)No expiration20,448 279,515 
8,912,496 8,697,744 
All interest rates are variable based upon a spread to SOFR.
1 An aggregate of $900.0 million of these line amounts is committed as of December 31, 2025.
2 Interest rates under these funding facilities are based on SOFR plus a spread, which ranged from 1.15% to 1.75% for substantially all of our loan production volume as of December 31, 2025 and 1.35% to 1.95% as of December 31, 2024.